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Author: Bitcoinist

DCC: Distributed Banking, Future of the Financial Industry

A storm of dramatic change is yet to sweep the banking industry. In the most unprecedented revolution in centuries, blockchain will exert significant impacts on reforming the obsolete institutional system. Therefore, distributed banking public chain, just like DCC, will ultimately dominate the future financial industry model. In the digital-oriented 21st century, the contemporary banking industry is already behind the times, with its foundation constantly battered by waves of new technologies and models. Distributed Banking, the

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Chicago Trader Steals Over $2 Million in Bitcoin and Litecoin Cryptocurrency

A Chicago trader is facing up to 20 years in prison for stealing over $2 million in Bitcoin and Litecoin cryptocurrency from his employer. Most 24-year-olds would be quite happy to be attached to a new cryptocurrency unit for a major financial entity. That’s not a bad career path for someone who previously worked as a cryptocurrency trader in South Korea before joining Consolidated Trading LLC to become an assistant bond trader in July 2016.

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Grab Your Joystick! Atari to Create Its Own Cryptocurrency

Atari, the iconic video game company, has seen their stock price rise after announcing they would be creating their own cryptocurrency: the Atari Token. For gamers of a certain age, nothing can transport them back to their childhood faster than by just hearing “Atari.” The name alone conjures up marathon gaming sessions of Pac-Man or Warlords (or Yars’ Revenge, my personal favorite) while sitting on the living room floor in front of the TV. Now

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Visa Owns Up to Erroneous Error, Says Coinbase Isn’t to Blame for Draining Accounts

After duplicating charges and draining users’ accounts, Visa has accepted responsibility for the gross error — after initially claiming Coinbase was to blame. Over the past week, Coinbase users have been experiencing a rather unpleasant situation. Numerous users reported erroneous duplicate charges on their credit and debit cards, effectively draining users’ bank accounts and leaving many individuals in potentially dangerous situations. After initially confirming the reports, Coinbase passed the blame for the situation on to Visa,

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Jazzle Games Hopes to Deal a Winning Hand to Investors

Jazzle Games hopes to help its members strike it lucky with their platform, which allows members to invest in the construction of casinos and receive a part of the subsequent profits. Gambling is a multi-billion-dollar industry which continues to grow as more and more people find their excitement, and sometimes wealth, through casinos. Even though online gambling is a lucrative industry, brick and mortar casinos are also pulling in the money, making casino owners and investors

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The BitCoen Token Sale Is Complete

On February 15, 2018, the BitCoen project completed its token sale, having successfully reached the declared hard cap of $2.5 million. The BitCoen team is working to get the BitCoen token listed on popular crypto-exchanges. “The BitCoen token will undergo all the necessary checks, and we expect that in mid-March it will be traded on Bitqi.com,” commented Vice-President of BitCoen David Dyshko. “Later the token will appear on other exchanges. We want to thank all

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Multi-Million Dollar Properties Are Selling for Bitcoin in San Diego

Since getting crypto rich has become a bit of a thing in recent times, some select properties have gone up for sale while accepting Bitcoin — the dominant cryptocurrency — as a form of payment. Now, two properties have hit the market in San Diego, with price tags that redefine what it means to be ballin’ on Bitcoin. Bitcoin mansions in San Diego, USA Canter Companies, San Diego’s leading financial and advisory investment firm, has

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BubbleTone Founder Yury Morozov Plans to Change the Telecom World One Blockchain at a Time

We sat down for this interview with Yury Morozov, the founder and CEO of BubbleTone, the first blockchain for the telecom industry. Mr. Morozov has over 20 years’ experience in the telecommunications sector with a string of successful businesses under his belt. For 16 years he has been Chairman of the Board of CountryCom. He recently founded BubbleTone with the intention of revolutionizing the mobile roaming telecom landscape. Bitcoinist: Can you give us a quick

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Passing the Buck – Visa Blames Coinbase for ‘Erroneous’ Error that Overcharged Customers, Drained Accounts

As was previously reported, Coinbase – one of the most popular digital currency exchanges – experienced one of the more egregious errors in recent cryptocurrency history by duplicating users’ past debit/credit card and bank purchases, effectively siphoning money from accounts without authorization. The costly error reportedly left many users’ bank accounts completely drained. Some users on Reddit reported unauthorized transactions upwards of $50,000, while many others reported duplicated purchases on smaller transactions. Even those less

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Optioment Bitcoin Scam Triggers Europe-Wide Manhunt

After possibly thousands of investors got burned by arbitrage-trading company Optioment last year, Austrian authorities have asked Interpol to help track down the fraudsters responsible for the Bitcoin scam. Another Bitcoin Scam Burns Buyers European authorities are on the hunt for criminals involved in defrauding thousands of individuals and losing over $100 million worth of investors’ Bitcoin. According to reports, Optioment ran a now-defunct website while holding large-scale events in Austria — in which the

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Ellen DeGeneres Just Introduced Bitcoin to Her 3 Million US Viewers

Ellen DeGeneres has likened Bitcoin to a “digital goat” in an attempt to explain the digital currency in layman’s terms live on air. Ellen Viewers Learn Bitcoin, Wallets And Volatility In a segment of her popular television show this week, which averages almost 3 million viewers per episode, DeGeneres spent several minutes speaking about the non-physical nature of Bitcoin and wallets, as well as touching on volatility. “You’re probably thinking, ‘Ellen, if I can’t physically

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JPMorgan’s WePay: Crypto Lacks Demand, Needs ‘Killer Use Case’

Some financial institutions are claiming that a lack of demand from clients, coupled with a drought of important use cases, is holding Bitcoin and other cryptocurrencies back. Where’s the Demand? If you want to start actually using Bitcoin and other cryptocurrencies, says JPMorgan Chase & Co., you need to start asking. According to Bill Clerico, CEO of JPMorgan-owned WePay, his company simply isn’t receiving enough requests to justify supporting cryptocurrency transactions. Clerico also adds that

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