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Demo’ing the Best of Bitcoin During the Halving

Firsthand demonstrations from some of Bitcoin’s most active builders were a cornerstone of our Bitcoin Halving live stream.

The post Demo’ing the Best of Bitcoin During the Halving appeared first on Bitcoin Magazine.

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Bitcoin Magazine’s BitcoinHalving.com 21-hour live stream was a celebration of programmable scarcity during Bitcoin’s third-ever subsidy halving. It brought panel discussions, fireside chats, technical analysis, banter, memes, music and an unforgettable decentralized countdown to Bitcoin’s global community and beyond.

Among the diverse pieces of content presented were firsthand demonstrations from some of Bitcoin’s most active builders, showcasing the products and services that will lead the way in the technology’s fourth epoch.

Nodl Dojo and Samourai Demo

Nodl offers some of Bitcoin’s most popular options for running a full node, a critical practice for those who want to maximize their sovereignty from the third parties that dictate the legacy economic system. The Nodl One, for instance, allows users to download the full Bitcoin blockchain themselves and includes extra features like full Tor implementation and integration of BTCPay Server. The Nodl Dojo is a similar device, but with the privacy-focused Samourai Wallet built in at its core.

During the BitcoinHalving.com live stream, the team from Nodl demonstrated how a Nodl Dojo is built and walked through the installation of Samourai, giving viewers a firsthand and detailed look at what goes into one of the space’s most important products.

GoTenna, Mesh Network Demo

Mesh networks are critical solutions for allowing users to access Bitcoin in truly sovereign ways — free of the middlemen that control mainstream internet servers. 

“Put simply, mesh nets are networks of peer-connected nodes that offer ‘offline’ connectivity by means of radio signals,” Bitcoin Magazine reported in March 2020. “Depending on the bandwidth of the network, you could do things like send a bitcoin transaction or download the Bitcoin blockchain.” 

During the BitcoinHalving.com live stream, Richard Myers took the virtual stage to walk users through goTenna’s mobile mesh network offering.

“One concern that people frequently have about Bitcoin is that it depends on the internet,” Myers said during the presentation. “One way Bitcoin users can reduce their dependence on centralized communications networks is by confirming bitcoin transactions without direct access to the internet.”

Fueling Merchant Adoption With OpenNode

Bitcoiners have long touted the dream of seamlessly purchasing a cup of coffee with their sats. Though that dream may remain unrealized in many cafes, the number of merchants that accept BTC is growing. In large part, this is thanks to payment processors like OpenNode.

“[OpenNode is] a bitcoin payment processor and infrastructure company designed for today’s complex digital economy,” as viewers heard during the BitcoinHalving.com live stream. “The OpeNode experience was created with flexibility in mind. This is why you can accept bitcoin with the option to instantly convert to traditional currencies like the dollar or euro. Of course, if you’d like to keep your earnings in bitcoin, you can do that too.”

By focusing on making it as easy as possible for merchants to accept BTC, OpenNode is filling a critical gap in the Bitcoin ecosystem and helping HODLers convert their coins into real-world items. They are also creating a rail that encourages merchants who might not otherwise leverage bitcoin to learn more about the technology and how it can bring them new customers, streamline their transactions and generally free them from issues in the legacy financial system.

“Other payment processors have failed to provide a smooth experience for both the customers and the businesses using them and we intend to improve the overall experience,” OpenNode CEO Afnan Rahman told Bitcoin Magazine in August 2019.

The BitcoinHalving.com live stream was host to several other high-quality demos, including one from Unchained Capital and another from Swan Bitcoin. To see more of our Halving content, visit our YouTube page.

The post Demo’ing the Best of Bitcoin During the Halving appeared first on Bitcoin Magazine.

Source: https://bitcoinmagazine.com/articles/demoing-the-best-of-bitcoin-during-the-halving?utm_source=rss&utm_medium=rss&utm_campaign=demoing-the-best-of-bitcoin-during-the-halving

Blockchain

Binance Stops Futures and Options Trading in Australia Amid Regulatory Concerns

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The regulatory clampdown against the world’s largest cryptocurrency exchange keeps pressuring the company to stop providing some of its services. The latest to close down are futures, options, and leveraged tokens for Australians.

  • Binance announced earlier on September 21st the latest change in its service offerings affecting Australian users only.
  • As of September 24th at 09:00 AM (UTC), the trading platform will stop offering Aussie customers trading of futures, options, and leveraged tokens.
  • All existing Australian customers will have 90 days to reduce and close their positions for any of the aforementioned services.
  • “Users will be able to top-up margin balances to prevent margin calls and liquidations, but they will not be able to increase or open new positions.” – reads the statement.

  • If clients fail to exit their positions by December 23rd, 11:59 PM (UTC), they will no longer be able to manually interact with them after that – all remaining open positions will be automatically closed.
  • Binance admitted that the halting of these services comes amid its attempts to “have greater collaboration with the regulators.”
  • The company has come under the scrutiny of numerous global watchdogs in the past. This led to multiple internal changes in several branches. Changpeng Zhao, CEO of Binance, recently said the exchange will look for a new headquarter and will improve its structure.
  • Previously, the exchange also halted its derivatives products in other countries as well, including Italy, Germany, and the Netherlands.
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Source: https://cryptopotato.com/binance-stops-futures-and-options-trading-in-australia-amid-regulatory-concerns/

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Blockchain

Avalanche-Based DeFi Lender Vee Finance Hacked for $36M in BTC and ETH

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A contract address belonging to the DeFi lending platform Vee finance has been exploited with the perpetrator swiping 8,800 ETH and 214 BTC. The attacker has not moved the funds yet, as Vee’s team claiming they have initiated contact to resolve the incident.

  • The protocol announced hours ago that it had halted all services as it became a victim of a security breach. The subsequent update provided the wallet the perpetrator used to transfer funds out of Vee’s address.
  • According to Etherscan, which has already marked the address as being involved in the Vee Finance hack, it currently holds 8,804 ETH and 214 Wrapped BTC (WBTC). With today’s prices, this amount has a USD value of over $36 million.
  • Vee explained that the attack transpired on a pending contract, and all assets in the stablecoin sector were not affected. Meaning, USDT.e, USDC.e, and DAI.e holdings are safe.
  • However, the protocol has halted all of its services to “protect the safety of more users’ assets” and failed to provide a precise timeframe when they will be resumed.
  • The attacker has not yet transferred the stolen fund. As such, the team behind the DeFi protocol is trying to “actively” deal with the situation and has reached out to the hacker to find a solution.
  • “At the same time, we are working with contract auditors and exchanges in the industry to locate the attacker and assist in recovering the assets.”

  • It’s worth noting that this security breach comes just a week after the DeFi lander officially launched its mainnet on the Avalanche blockchain. In just 12 hours, the protocol’s total value locked reportedly grew by $100 million to over $300 million.
  • This is the second hack against a decentralized finance project since the start of the week. As CryptoPotato reported yesterday, pNetwork also fell victim, with over $12 million in various cryptocurrencies stolen.
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Source: https://cryptopotato.com/avalanche-based-defi-lender-vee-finance-hacked-for-36m-in-btc-and-eth/

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Blockchain

Major Brazilian Bank BTG Pactual to Offer Investment Options in Bitcoin and Ethereum

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The major Brazilian bank – BTG Pactual – will enable its customers to trade digital assets directly through a new platform called Mynt. The offering will be available from the next quarter and will include the two leading cryptocurrencies – bitcoin and ether.

The New Crypto Opportunity

According to a local report, the initiative, which would start from the next quarter, would make Banco BTG Pactual S.A. (BTG Pactual) the first Brazilian bank to offer such services. Andre Portilho – the head of digital assets at the organization – confirmed the move. He also revealed that the institution intends to add more cryptocurrencies in the future:

“At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets.”

Per a recent survey, almost every third person in Latin America is interested in cryptocurrencies. However, most people don’t invest in bitcoin or any other altcoins because they lack sufficient knowledge. With that said, BTG Pactual’s intention to implement educational functions about digital asset technology on its new platform could positively impact the local population.

“We believe that this, with all the educational content that we are going to develop, will not only distinguish our platform but will also help develop the market,” Portilho said.

BTG Pactual is among Brazil’s five largest financial institutions and has headquarters in the country’s megapolises – Rio de Janeiro and São Paulo. It is also the biggest investment bank in Latin America and the Caribbean.

The Bank’s Previous Crypto Endeavors

The aforementioned initiative is not BTG Pactual’s first engagement with the cryptocurrency industry. As CryptoPotato reported in May, it launched a security token known as ReitBZ.


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By deploying it on the Tezos (XTZ) blockchain, BTG Pactual became the first company to make such a move. The bank revealed that it would use the token for future security token offerings (STOs). Back then, Portilho opined that Tezos was “robust” enough to handle this kind of an operation:

“We decided to issue ReitBZ in partnership with the Tezos Foundation to test the Tezos blockchain so that we can use the technology to execute more complex future STOs. We are confident that the Tezos solution is technically robust, and this issuance enables us to guarantee more resources to invest in ReitBZ moving forward.”

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Source: https://cryptopotato.com/major-brazilian-bank-btg-pactual-to-offer-investment-options-in-bitcoin-and-ethereum/

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