Korean Lawmakers Hasten to Regulate Cryptocurrency Legalize ICOs

Korean Lawmakers Hasten to Regulate Cryptocurrency, Legalize ICOs

Lawmakers in South Korea, one of the world’s biggest cryptocurrency trading markets,
are set to submit draft bills to legislate regulations for burgeoning sector.According to a report by the Korea Times, a number of lawmakers across different political spectrums are seeking to fast-track cryptocurrency regulations that could plausibly lead to lifting the current ICO ban in the country. The drafts will be submitted during ‘an extraordinary session of the National Assembly from July 13 to 16’ to address the legal status of cryptocurrency and regulatory guidelines for crypto exchanges, Notably, the report suggests that the submitted regulatory drafts are expected to play the role of a ‘catalyst’ in triggering discussions toward regulation and the subsequent the legislative process of turning bills into law.

Representative Park Yong-jin, a lawmaker and member of the country’s ruling Democratic Party, is perhaps the most prominent politician pushing for regulations, alongside Rep. Chung Tae-ok of the primary opposition Liberty Party Korea (LPK) and Rep. Choung Byoung-gug of the Bareun Mirae Party, a minor opposition camp.

As reported previously by CCN in July 2017, Park proposed at least three new bills to build a regulatory framework for cryptocurrencies despite previously comparing last year’s surging prices to Europe’s tulip mania in the 17th century. Rep. Hong Eui-rak, also of the political camp in power, is notably pushing for the legalization of ICOs after authorities enforced a ban on the radical new form of fundraising in September last year.

Further, Rep. Song Hee-kyung of the opposition LPK party is set to host a policy debate on the security framework at domestic cryptocurrency exchanges on July 19, in a year of noteworthy major security breaches and thefts at Korean exchanges. Last month, domestic exchange Coinrail was the victim of a hack with a reported 40 billion won ($37 million) in cryptocurrency stolen. A little over a week later, Seoul-based Bithumb – the country’s biggest crypto exchange – suspended Unlinktransactions after losing $30 million in cryptocurrency following another hack.

The proposed draft regulations coincide with a previously-set deadline by G20 nations that aims to enact a uniform regulatory framework for the cryptocurrency sector among member nations.

Article Produced By
CNN

https://www.ccn.com/korean-lawmakers-hasten-to-regulate-cryptocurrency-legalize-icos/

Already More ICOs in 2018 Than All of 2017: 63B

The amount of money raised in initial coin offerings (ICOs)

in the first quarter of 2018 has blown past the amount raised throughout all of 2017, according to data from Coindesk. In the first three months of the year, a total of $6.3 billion raised from digital coin offerings represented 118% more than that of last year's total, suggesting that despite increased scrutiny on the cryptocurrency space, ICOs aren't going anywhere soon.

ICOs have been a major source of controversy in the cryptocurrency space as regulators struggle to combat illegitimate business and protect investors against buying into the frenzy without proper consideration. Since just about anyone can create digital currency: Over 15,000 cryptocurrencies have been launched. Often, the means by which crypto-related startups raise money is by selling virtual coins as an alternative to raising stock. Regulators have tried to crack down on the surge in fraudulent ICOs, which prompt many to buy in due to false advertising and other schemes. Many investors have also fallen victim to "FOMO," or fear of missing out, getting into crypto-investing simply because others have bought in, and not in response to the actual details of the startups that they are funding. 

Digital Token Projects Continue to Gain Popularity 

Of course, not all ICOs are schemes, and many are legitimate. On Wednesday, Basis (formerly Basecoin), landed $133 million in an ICO, with participation from high-profile investors such as Alphabet Inc.'s (GOOGL) GV, Andreessen Horowitz, former Federal Reserve governor Kevin Warsh and billionaire hedge fund manager Stanley Druckermiller. The funding round marked the first time that venture capital firms Bain and Lightspeed had ever bought a digital token.

In 2018, the size and speed of ICO funding rounds have also accelerated, according to the Coindesk report. Q1 saw 59% as many ICOs raise capital as all of 2017. The report noted that without Telegram's record-breaking $1.7 billion token sale, ICOs in the first three months of 2018 would amount to $4.6 billion, or 85% of last year's total. Coindesk notes that given most ICOs in Q1 have garnered less than $100 million, "a number of projects are still eager to sell tokens, despite the regulatory risk." The report pointed to a recent ruling from the Securities and Exchange Commission (SEC), which acknowledged some ICOs as securities offerings and required that they be registered with the agency.

Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns cryptocurrency.

Article Produced By
Shoshanna Delventhal

As a digital nomad based out of New York City, Shoshanna enjoys reporting on business and finance, with a focus on consumer products and technology companies. Shoshanna is passionate about enhancing the future of work by harnessing productivity and adopting transparent, flexible work cultures.

After graduating from UNC Chapel Hill with a B.A. in Economics and International Relations, Shoshanna worked in international business advisory at KPMG. When she’s not writing, you can now find Shoshanna leading yoga, mindfulness and creative workshops around the world. Shoshanna’s enthusiastic about forward-driving projects that advance social entrepreneurship, conscious consumerism and sustainability movements.

https://www.investopedia.com/news/already-more-icos-2018-all-2017-63b/

 

What Is AirDrop? How Does It Work?

What Is AirDrop? How Does It Work?

AirDrop is a feature that lets Macs and iOS devices share files wirelessly with a minimum of fuss.

AirDrop is extremely cool and useful, but is one of those features most people don't know about. Not because it is hard to use (it isn't) but because most people don't think to look for it. Most of the time when we want to share a photo with someone, we just send it to them in a text message. Which is easy enough, but when that someone is standing right beside you, it is even easier to simply use AirDrop.

AirDrop isn't just for photos, of course. You can use it to transfer almost anything that you can share. For example, you can AirDrop a website from your iPad to your friend's phone, which is great if they want to bookmark to read later. Or what about a grocery list? You can Airdrop text from Notes to someone else's iPad or iPhone. You can AirDrop anything from a playlist to a location you've pinned in Apple Maps. Want to share your contact information?  AirDrop it.

How Does AirDrop Work?

AirDrop uses Bluetooth to create a peer-to-peer Wi-Fi network between the devices. Each device creates a firewall around the connection and files are sent encrypted, which actually makes it safer than transferring via email. AirDrop will automatically detect nearby supported devices, and the devices only need to be close enough to establish a good Wi-Fi connection, making it possible to share files across several rooms.

One advantage to AirDrop is the use of Wi-Fi to make the connection. Some apps provide a similar file sharing capability using Bluetooth. And some Android devices use a combination of Near Field Communications (NFC) and Bluetooth to share files. But both Bluetooth and NFC are relatively slow compared Wi-Fi, which makes sharing larger files using AirDrop much faster and more convenient.

AirDrop Supported Devices:

AirDrop is supported on current iPads going back to iPad 4 and iPad Mini. It also works on current iPhones going back to the iPhone 5 (and, yes, it even works on the iPod Touch 5). It is also supported on Macs with OS X Lion, although Macs released earlier than 2010 may not be supported.

How to Turn On AirDrop

Having trouble finding out where to turn on AirDrop? If you have found yourself hunting through your iPad's settings, you are looking in the wrong place. Apple wanted to make it easy to turn AirDrop on or off, so they put the setting in the new control panel. Unfortunately, this isn't the first place all of us look for turning on settings. You can access the control panel by sliding up from the bottom of your iPad's screen. Remember, you need to start at the very edge. You can even start completely off the iPad's display if that helps.

Once the control panel is revealed, you will have access to the AirDrop settings. You can turn it on, off or "contacts only", which is the default setting. 'Contacts Only' means only people in your contacts list will be allowed to send you an AirDrop request.

How to Use AirDrop on the iPad

You will need to be near the person you are sharing with and they must have their device turned on for it to register, however, you need not be right next to them. AirDrop can even reach into the next room. Both devices will also need the correct permissions to AirDrop with each other. In the Control Panel you can tap the AirDrop button to turn permissions from "Off" to "Contacts Only" to "Everyone."  It's usually best to leave it at "Contacts Only."

You will also need to navigate to whatever you want to share. So if you want to share a web page, you'll need to be on that web page. If you want to share a photo, you'll need to be viewing that photo in the Photos app. AirDrop is not a file manager like what you might see on a PC. It's designed to share what you are doing at that time.

  • First, tap the share button. This is the box with the arrow sticking straight up. This share button accesses the Share menu, which allows you to share via AirDrop, Facebook, iMessage, etc. View a picture of the share button.
  • Next, locate the device you want to receive your AirDrop. This is the top portion of the Share menu. Devices will show up as a circle with an identifying label under it. This will be the contact's photo with their name under it, but if you don't have a photo attached to this contact, it will show up as a gray circle with their initials in it.
  • Last, tap the circle. Tapping will initiate sending the document to the recipient, who will then be prompted whether or not to accept the AirDrop.

That's it. You can drop anything from photos to web pages. You can even share a contact by tapping the Share Contact button at the end of the contact's information in the contacts app.

Article Produced By
Daniel Nations

Daniel Nations has been writing, programming and following technology since the days when the Commodore Vic 20 was considered the de facto standard for the home computer to our current time when keyboards are considered optional. You can follow Daniel on Facebook, Twitter and on Pinterest.  You can also email him at snoitan(at)gmail.com.

Experience

Daniel has over 20 years of experience in the computer industry, from his days working in technical support helping people with Microsoft software to his days as a database administrator overseeing mission-critical processes for a financial institution. Published in both print and digital media, Daniel covered the iPad from a time when it was simply a rumor to its release. In the years since its debut, Daniel has given his expert opinion on air at radio stations ranging from WJJG in Chicago, ABC's KGO in San Francisco, 1190 KEX in Portland and KOA in Denver.

Daniel also developers iPad and iPhone games and apps. Endless RPG is an app that allows people to play D&D 5th edition and Pathfinder alone. His games include Endless Adventure, a party-based rogue-like that features random quests and dungeons.

https://www.lifewire.com/what-is-airdrop-how-does-it-work-1994512

Liechtenstein’s Blockchain Law Crypto Banking and ICOs Interview With Prime Minister

Liechtenstein’s Blockchain Law, Crypto Banking and ICOs, Interview With Prime Minister

Adrian Hasler, the Prime Minister of Liechtenstein,

is certain that blockchain technology will have an impact on a variety of areas and is preparing a new blockchain law to provide essential requirements in order to establish a regulatory base for blockchain businesses. The blockchain law — so called Blockchain Act — was announced by Adrian Hasler at this year’s Finance Forum on March 21. According to Adrian Hasler, the new act is about integrating current business models in regulatory terms in order to give companies and their clients a legal base. The planned act is expected to be circulated for consultations this summer. Cointelegraph spoke with the prime minister about blockchain regulation, the politics regarding this technology and cryptocurrencies, ICOs and the business climate in Liechtenstein.

About Lichtenstein’s blockchain law

Cointelegraph: In your greetings at the Finance Forum you announced a new blockchain law. What makes this regulation special?

Adrian Hasler: We see great potential in blockchain technologies that go far beyond what we can observe today. Our law is designed to serve as the legislative basis for such a token economy and thereby provide regulatory certainty for all participants and overall further

positive development [in this space].

Blockchain can serve as an important base for a variety of economic applications, covering not only payment transactions but broader financial solutions, industry use cases and general applications.

CT: Could you specify the implications of such a regulation when put into place for blockchain businesses and the average citizen? How can they profit from it?

AH: We expect many more rights and assets put into blockchain systems in the future. One example: in order to effectively capitalize on the advantages of these efficient transaction systems we need a lawfully secure connection with the physical world, which we aim to achieve with state regulatory oversight. This will create trust, which is important for blockchain businesses and citizens.

CT: Why is blockchain an interesting topic for Liechtenstein?

AH: We have dealt with possibilities and risks associated with blockchain in the past. We view some opportunities here but also certain challenges for all economic sectors, especially the financial sector. It is important for the state of Liechtenstein that the government and authorities deal intensively with the consequences in practices to be able to treat companies fairly and competently. We aim to actively accompany this development.

About the future of cryptocurrencies

CT: Are you optimistic about the future of blockchain and cryptocurrencies?

AH: We observe a remarkable, globally oriented, and well-educated scene that is very much involved in the advancement of blockchain technology, and we believe that we are only at the beginning of an exciting and long-term development. Cryptocurrencies for me represent merely a fraction of possible use cases of blockchain in a tokenized economy. I believe we have to distinguish between payment traffic, stable coins representing legal means of payments and self-sustaining cryptocurrencies. It goes without saying that payments within a token economy are executed via blockchain. In this context, it can be assumed that stable coins, which are linked to legal currencies, will play an

important role.

Cryptocurrencies can play a significant role in the future once they become widely accepted.

CT: Do you see an interest in blockchain projects and demand for cryptocurrencies from the citizens of Liechtenstein?

AH: Liechtenstein accounts for a relatively large blockchain scene with a very big interest in blockchain projects and cryptocurrencies. For a layperson however, it seems relatively hard to accurately assess the risks of such an investment. Partaking in an ICO alone can be quite difficult. For this reason, there are increasingly more financial products entering the market that make investments easier. However, these are currently only approved for qualified investors.

CT: The Liechtenstein family bank Bank Frick allows direct investments in cryptocurrencies. Do you support the idea of crypto-banking as an alternative to

traditional banking?

I really do not see a contradiction between crypto banking and traditional banking.

AH: I rather expect to see an integration of blockchain technology and cryptocurrencies in the financial sector. I do applaud this development because it introduces high standards und legislative security for investors of the traditional finance sector on blockchains. Of course, we need to make sure that the advantages of the crypto world are sustained as best as possible.

CT: Are you yourself dealing with cryptocurrencies or investing in blockchain projects?

AH: No, in my function as head of the government, I keep a low profile here.

About Liechtenstein as a location for ICOs

CT: Liechtenstein has become a favourite location in the world, to start ICOs. What are the reasons?

AH: One important reason is the openness of the authorities and the government for the new technologies and the subsequently acquired knowledge on how to use them. Surely it helps that you have very little response time as a company. It is relatively quickly possible to schedule a meeting with the ministry of the FMA [financial authority of Liechtenstein]. Furthermore we introduced a so-called regulatory laboratory at the FMA, which is a competent contact for innovative companies. Especially Fintech and blockchain companies seem to use this option intensively.

CT: Liechtenstein is subject to certain European Union regulations. Have those furthered the advancement of innovative ICOs or rather hindered it?

AH: Liechtenstein is a member of the European ecosystem und complies with all EU regulations in his financial service area. This is why companies in Liechtenstein also benefit from the so-called ‘EU-Pass’, hence the access to the European market. In our experience, however, it depends heavily on the specific design of an ICO, whether financial market law issues are affected. To my knowledge, many ICOs in Liechtenstein have already been successfully implemented within the framework of the financial market rules.

Article Produced By
Veronika Rinecker

https://cointelegraph.com/news/liechtenstein-s-blockchain-law-crypto-banking-and-icos-interview-with-prime-minister

What Are ICO Air Drops and Where to Find Them

What Are ICO Air Drops and Where to Find Them

A recent phenomenon in the cryptocurrency economy

has been the incidences and instances of cryptocurrency token airdrops. This has been particularly pronounced with Initial Coin Offering (ICO) projects. Airdrop events have become such a ‘craze’ that people have turned up in their numbers on the internet seeking how to make some free tokens from airdrops.

What is an Air drop?

Air drop is just another way of distributing cryptocurrency tokens to help with the process of adoption for the particular token. Some ICO projects choose to give out their tokens practically for free to members of their community as a means of encouraging the token’s adoption and usage with the hope that in the process, there will be increased demand for the token which will in turn help to drive up its value. Usually after the main crowd sale events, a small percentage of the total tokens are set aside for air drops.

In as much as these air drops seem to be free, beneficiaries tend to be community members of the ICO project who have made efforts towards the development and growth of the community. Air drop beneficiary efforts are usually gauged by the consistency and quality of their contribution to topics that relate to the project. The duration of community membership is also a parameter often used – older members of an ICO project’s telegram, Slack, Discord or other communal social media platforms tend to be candidates for free tokens by way of airdrops as compared to newer community members.

Changes in the ICO Game

Just like the blockchain technology that runs it, ICOs keep changing by way of operations and execution. As the months go by, a lot of dynamism and improvements are introduced. A lot of these innovations in the ICO space are attributable to the Ethereum blockchain which is the leading blockchain by way of ICO token development. Majority of the token airdrop have been linked to ERC20 tokens. The flexibility and freedom that the Ethereum network gives entrepreneurs and developers has been a catalyst in the dynamism being experienced with the way ICOs are run and this same dynamism has inspired the recent airdrop events we are currently witnessing in the blockchain and ICO space.

Article Produced By
Emmanuel Darko

https://icowatchlist.com/blog/ico-air-drops-find/

SEC Cracks Down: Fraudulent ICO’s Accounts Frozen

SEC Cracks Down: Fraudulent ICO’s Accounts Frozen


With cryptocurrency growing more prevalent in the mainstream,

the SEC is taking action to regulate ICOs as securities. On June 18, 2018, the SEC received a court order to freeze the assets of the PlexCoin founders under allegations of false marketing and fraudulent activity.

Wild West of ICOs Coming to an End

Reported by Crowdfund Insider on June 20, the SEC received an emergency court order to freeze the assets of PlexCorps founders, Dominic Lacroix and Sabrina Paradis-Royer, as part of an ongoing enforcement action initiated in December 2017. According to the initial report, the original court order to freeze the assets of Lacroix and Paradis-Royer was received in December 2017 and unsealed on June 18. It is alleged that Lacroix used fake accounts, including that of his brother’s, to liquidate investor funds for personal use received in the PlexCoin ICO. Both Lacroix and Paradis-Royer are being charged with violating anti-fraud provisions regarding the PlexCoin ICO and will be receiving penalties for false marketing and fraudulent activity.

According to the initial press release by the SEC:

“The complaint seeks permanent injunctions, disgorgement plus interest and penalties.  For Lacroix, the SEC also seeks an officer-and-director bar and a bar from offering digital securities against Lacroix and Paradis-Royer.”

PlexCorps raised nearly $15 million from thousands of investors through their PlexCoin ICO, which untruthfully claimed the coin would yield a 1,354% profit in under 29 days.

SEC Cyber Unit Taking Action

Formed in September 2017, the SEC Cyber Unit pursued the PlexCoin ICO misconduct as their first case since inception and made clear that such activity would not be tolerated. In the December 2017 press release,

Chief of SEC Cyber Unit Robert Cohen states:

“This first Cyber Unit case hits all of the characteristics of a full-fledged cyber scam and is exactly the kind of misconduct the unit will be pursuing. We acted quickly to protect retail investors from this initial coin offering’s false promises.”

In the press release, the SEC dubbed PlexCorps founder, Dominic Lacroix “a recidivist Quebec securities law violator” and revealed that they were working with the Office of International Affairs and Quebec’s Autorité Des Marchés Financiers to uncover the full extent of the PlexCoin ICO fraud. As cryptocurrency grows more prevalent, it’s becoming clear that regulatory bodies are finally catching on to the global impact and influence of initial coin offerings, distributed ledger technology, and cryptocurrency exchanges on retail investors still new to the scene.

Article Produced By
Jonathan Kim

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. Involved with a recently launched ICO, Jonathan is familiar with the internal process of crowdsale funding and the workings of a blockchain startup. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrency using technical analysis principles.

https://cryptoslate.com/sec-cracks-down-fraudulent-icos-accounts-frozen/

Everything You Need to Know About Airdrops Hard Forks amp ICOs

Everything You Need to Know About Airdrops, Hard Forks, & ICOs

Basic Returns vs. Premium Returns

Although investing in cryptocurrency looks complicated to the untrained eye, it is astoundingly simple.
Too simple, in fact.

Here’s a real life example.

One of my friends bought $1,000.00 of Ethereum (ETH) at the start of 2017. When he wanted to calculate his earnings for that year, he looked at how much prices had changed over the course of 12 months. A quick bit of arithmetic showed he had made $91,620 in profit. This is a jaw-dropping return by any standard, but here’s the kicker — he actually underestimated his own returns.

You see, cryptocurrencies have hidden properties — airdrops, hard forks, ICOs — that may boost their long-term value. Last September, Ethereum had an air drop that could have added upto $77,890 to my friend’s earnings. But his simple view of investing in cryptocurrency ignored these hidden riches.

Even so, my friend was lucky. Despite his ignorance about airdrops and hard forks, he still walked away with his pockets full. But imagine if the situation were slightly different. Imagine that Ethereum prices had stagnated rather than skyrocketed. Would my friend still have invested? Probably not. He would have thought it wasn’t worth his time, and as a consequence he would have lost out on a small fortune.

Why Does No One Talk About Airdrops?

Initial coin offerings and hard forks are well known. In 2017, there was a minor ICO craze after investors first discovered them, and hard forks slipped into the ether when Bitcoin Cash split from Bitcoin. Very few people understand them, of course, but at least you can articles about them in financial media. Airdrops, by contrast, are virtually unknown. Why?

That’s a hard question to answer.

One explanation is that cryptocurrencies are relatively young. Investors have not had enough time to study their eccentricities, nor have analysts had much time to communicate their technical aspects in normal language. Another is the business of news. Mainstream outlets are incentivized by Google and Facebook to publish clickbait rather than nerdy stories about airdrops. But it hardly matters. Regardless of why investors are ignorant of these subtleties, it’s important for them to understand these features. Can you imagine widespread ignorance about share buybacks or dividends? It’s inconceivable! With that in mind, let’s jump into the details.

What are airdrops, hard forks, and ICOs?

For the benefit of those who are unfamiliar with these terms, I’ve included a list of working definitions below. Underneath each definition is what I’d consider an equivalent event in the stock market. Hopefully, that will illuminate how these forces affect cryptocurrency returns.

AIRDROPS
Airdrops are essentially free handouts of cryptocurrency. They occur when a blockchain startup is looking to gin up attention their new token. When one public company buys another, investors can either receive a payout or equivalent shares of the buyer’s stock. Theoretically the merger is supposed to create extra value, thus increasing the value of the stock. Likewise, the idea that airdropped tokens have value rests on the assumption that you can sell them to willing buyers.

HARD FORKS
Hard forks occur when a blockchain splits in two. These forks often result in airdropped tokens, although it’s important to distinguish between the two terms. Why? Well, because hard forks suggest internal conflict among the blockchain’s developers. Two factions that cannot agree eventually lead to one group splintering off from the other, thus creating a second cryptocurrency.

This comparison is a bit of a stretch, but the Bitcoin/Bitcoin Cash fork resulted in investors getting another $200.00 airdropped into their wallets. In a way, this is like a company deciding to return cash to shareholders. Sure, investors get a sudden infusion of new money, but it’s a bittersweet because it means that company is not investing in research, development, or acquisitions. It isn’t growing, in other words.

INITIAL COIN OFFERINGS

Initial coin offerings (ICOs) offer startups an alternative way to raise money. Rather than begging venture capitalists for table scraps or going public via an initial public offering, startups can simply issue their own cryptocurrency. This offers tremendous upside to the startup, since they forfeit no equity in the company. However, they need to ensure the token offers some value or else investors and regulators can take legal action.

In the first quarter of 2018, the music streaming service known as Spotify filed for a direct listing on the New York Stock Exchange. This means that Spotify will circumvent the normal process going public, such as wooing institutional investors and paying investment bankers outrageous fees. It is a bold move that removes the middlemen of finance, much like an ICO.

Let’s Talk About Risks and Rewards

In terms of outcomes, the upside potential of airdrops, hard forks, and ICOs is well established.
Consider the following examples.

Stellar Lumens (XLM) airdrops 16 billion tokens.

If you had been holding Bitcoin on June 26, 2017, you were eligible to claim free money that Stellar Lumens would airdrop into your account. The good folks at Stellar say that “Bitcoin acted as a profound inspiration” when they were creating their cryptocurrency, and that’s why they want to share the love. Whatever their reason, the important takeaway is that XLM coins appreciated by more than 1,000% from then to the end of 2017. (Sidenote: Bitcoin holders could only claim the same percentage of the airdrop that they owned of the total Bitcoin supply. So, if they owned 0.002% of all Bitcoins in existence, they could only claim 0.002% of the air drop.)

Bitcoin Cash (BCH) forks off Bitcoin (BTC).

In August 2017, a group of dissident developers broke off from the Bitcoin community, splitting the blockchain in two. This hard fork resulted in every Bitcoin holder getting Bitcoin Cash tokens at a rate of 1-to-1. At the time, the price of one Bitcoin was $2,750. By comparison, BCH traded at approximately $200.00, although it would later skyrocket by more than 2,000%. Anyone holding Bitcoin at the time of the hard fork would have received this unexpected boon.

Golem (GNT) becomes a golden goose.

One of the earliest high-profile ICOs was held by Golem on November 10, 2016. This startup gives everyone access to immense processing power by connecting them to a network of computers around the world. The only catch is you pay for those resources by way of GNT tokens. What this does is effectively put the idle computing power of the world to good use. Investors thought this was a solid business plan, so they went long on GNT. Those that did would have made more than 3,000% returns by the time this article went to press.

So what are the risks?

One,
regulators will decide these are financial products which need to be overseen and taxed.
Two,
someone is scamming you.

Both risks are pretty serious.

China and South Korea have banned ICOs already, proving that regulators are capable of coming down hard on the industry. The European Union, meanwhile, demands that ICOs meet anti-money laundering and anti-fraud compliance regulations. Canada deems them securities. The U.S. is similarly tough, and many other places have not yet established rules, but are in the process of doing so. With all this regulation coming down the pipeline, it’s easy to forget why regulators are worried. Namely, that cryptocurrency scams are dime a dozen.

From pump and dump scams to price manipulation, the industry is overpopulated by bad-faith actors looking to take prey on retail investors. So even while the upcoming regulation is burdensome, it is necessary for the industry to succeed.

Verdict: Big Cryptos Are Often The Best

Some readers might rush off to invest in small, unknown ICOs after reading this report. That would mean I failed to communicate the dangers of ICOs or that they did not grasp the significance of airdrops. The same goes for hard forks. Building an investment strategy around these features is a high risk, high reward approach. But airdrops, on the other hand, are a relatively risk-free way to line your pockets. That said, the million dollar question remains: Which cryptocurrencies are best for airdrops? My advice is to go Big. Airdrops benefit larger cryptos, such as Ethereum and Bitcoin. Not the no-name cryptos with $100,000 in market cap. Here’s why.

The purpose of an airdrop is to gain attention by leveraging the liquidity of a popular cryptocurrency. OmiseGO and did not search through the bargain bin for its airdrop destination — it chose Ethereum, in the same way that Stellar Lumens chose Bitcoin. I want you to remember this, because cryptocurrencies are built on shifting sands. Some of the crypto — most of them in fact — might not be around in a few years. The ones that will, however, could be worth a fortune.

Article Produced By

G. S. Iyer
Senior Tech Editor @ Lombardi Publishing. Columnist @ Profit Confidential.

https://medium.com/@iyer_gs/airdrops-hardforks-icos-63e1efaf16a7

John McAfee Will No Longer Promote ICOs Cites SEC Threats’

John McAfee Will No Longer Promote ICOs, Cites ‘SEC Threats’

Anti-virus pioneer and crypto evangelist John McAfee

tweeted that he will no longer work with initial coin offerings (ICOs) or promote them due to “threats” from the U.S. Securities and Exchange Commission (SEC). The SEC declined to comment on his statement. In April, McAfee revealed that he charges $105,000 per tweet to promote cryptocurrency projects and products. McAfee claimed that if you divided the cost by his total number of Twitter followers, the “cost per investor reached” is only $0.13, to which he added, “This is orders of magnitude less than any other approach.” In January, Cointelegraph asked McAfee in an interview whether anyone had tried to pay him for promoting a project or product, and if so, which projects.

McAfee replied:

“I would say definitely they tried to pay me. I'm not going to talk about my personal finances where I make my money or from who. I set up on stage as it’s my business and it should be everybody's business. And actually, I think it's rude to even ask such questions of people. No offense.”

When asked whether he felt responsible for the pump-and-dump schemes that sometimes follow his endorsement, he said, “Absolutely not.” Last month, McAfee announced plans to release his own “fiat” currency backed by cryptocurrency, which will be redeemable for face time with him. He said that the  McAfee Promissory Note will be connected to a blockchain by tokens and can be redeemed for up to 100 minutes of personal time with him at a location anywhere in the world.

The crypto advocate also hit headlines earlier this month when he announced a 2020 presidential bid as a way to serve the crypto community. McAfee then tweeted about the run, noting that although he doesn’t think he actually has a “chance of winning,” the bid will give him a platform to tell the “truth.”

Last month, the SEC launched a fake ICO website to increase awareness of the typical warning signs of scam ICOs and to promote investor education. The website includes such details as a misleading and blurry white paper, guaranteed returns claims, celebrity endorsements, and a countdown clock that is “quickly running out on the deal of a lifetime.” In April, SEC Commissioner Robert Jackson criticized ICOs, stating that the crypto space “has been full of troubling developments that we’ve seen at the SEC, and especially the ICO space.”

Article Produced By
Ana Alexandre

Total change in her career took Anastasia into the world of analytics and business information as a researcher and translator in 2010. Some time later she got into FinTech, a dynamically developing segment at the intersection of the financial services and technology. Ana joined Cointelegraph in September 2017.

https://cointelegraph.com/news/john-mcafee-will-no-longer-promote-icos-cites-sec-threats

What Is EON? Why Is It So Popular Among EOS Investors?

What Is EON? Why Is It So Popular Among EOS Investors?

With EOS mainnet launch, airdrops to EOS users are increasing rapidly.

Among these airdrops, EON is the most valuable one. Many EOS investors refer to it as “the most expensive crypto candy in history”.

This article will discuss what is EON and why it is so popular.

The most revolutionary technology:
up to 100,000 TPS solving the biggest problem of EOS

According to its website (https://eon.org/), EON is an intelligent high-speed blockchain operating system. By intelligently allocating the entire network computing power to synchronize the node load with the cloud network in real time, it can make the average TPS of the entire network reach more than 100,000. All network requests can also be completed almost simultaneously. This fundamentally solves the problem of a mere 4000 TPS caused by numerous network requests generated in a single EOS transaction.

TPS (transaction per second) is the number of transactions system processes per second. It is the core performance of a public chain and the basis for determining other functions and visions of the public chain. EON’s realization of 100,000 TPS undoubtedly addresses the biggest pain point. As the number of global nodes increases in the future, EON's TPS will eventually reach more than 1 million.

Currently many blockchain projects are in the conceptual phase and haven’t been commercially implemented. As the world's leading blockchain project, EON has begun to be put into practice. On the basis of EOS, EON integrates distributed computing with traditional technologies such as network storage, virtualization, load balancing, and hot standby redundancy to upgrade the existing EOS network. It not only inherits the advantages of EOS, but also achieves an evolution of EOS ecology. EON is the next-generation high-speed blockchain system that has fundamentally solved the biggest pain point of EOS.

The latest development: EON Editor

With the world's leading R&D team, EON is committed to changing the current blockchain value ecology and redefining the blockchain value standard from its inception. On 2nd June, EON launched the world’s first cloud-based smart contract editor EON Editor (editor.eon.org), which is eagerly anticipated by the global blockchain enthusiasts.

EON Editor provides developers with a more secure and reliable development environment by integrating development environment in the cloud. Cloud-based development environment means that developers can connect to the network from anywhere to complete projects, easily define resources, debug, and quickly share the development environment. Developers only need a computer connected to Internet to access the web browser instead of installing files or configuring development computers. They can use EON Editor to easily complete the development, debugging, and compiling of smart contracts in the cloud.

Roughly speaking, EON Editor has four core advantages: First, developers do not need to configure the development environment, but can complete smart contract development on the browser. Second, real-time collaborative writing code and shared development environment achieves telecommuting. Third, it lowers the threshold for the development of smart contracts so that new projects can be quickly built. Fourth, developers can easily implement DApps based on EON super ecology.

The launch of EON Editor will greatly increase the efficiency of developers, fundamentally promote the development of the entire blockchain industry, and redefine the standard of blockchain value. Blockchain technology has many advantages, but novice users face many difficulties to develop their own blockchain products. This has been changed by EON Editor. It is the realization of the genius design of EON project "EON=EOS+NETWORK" and will definitely redefine the blockchain development standard.

Strong team

EON announced its partnership with the world’s top blockchain information security team on 5th June. They are committed to enhancing the overall safety, privacy, and usability of the blockchain ecosystem by publishing industry trend reports, real-time monitoring of ecological security risks, responsible exposure of vulnerabilities, and providing relevant security solutions and services to help communities defend against emerging security threats.

Another team working with the EON project is Armors Labs. As the world's top blockchain security laboratory, Armors aims to focus on the blockchain security cloud ecosystem. Their team members mainly come from Apple, Google and other world's top Internet companies. At the beginning of this month, EON team revealed that they had received investment from INBlockchain Capital founded by Li Xiaolai, Consensus Labs,CollinStar, Horman Capital, as well as OldDriver and Zenix from South Korea. These investors are influential in blockchain industry and have already invested in a large number of popular projects.

The potential of EON

We all know that as one of the most famous blockchain projects, EOS has far more investors than others. EON can directly reach EOS users by its airdrop to them. Increasing the liquidity of EON and getting listed on exchanges has always been a concern for the project team. EON has already been listed on Coinoah and Coinw, where its prices have been steadily rising as of press time. Its price hit a peak of $1.56, which fully demonstrates the wide recognition of EON’s value. At the same time, EON is promised to list on more global mainstream cryptocurrency exchanges in 2018. To sum up, driven by the strength of capital and its increasing influence, EON's price is reasonable to rise by three to five times in 2018. If listed on large exchanges, it is very likely to jump sharply.

Of course, the price may be affected by positive news in the short term. However, in the long run, it must reflect the practical value of the project. Now it is the moment when EON siphons other public chains, and its price is ushering in a solid support. As the next generation of blockchains, EON is very likely to lead the development of global public chains in 2018 and create a new era. The future of EON is coming. You might have missed buying pizza with BTC, ETH's crowdfunding or the early EOS… But don't miss out on EON!

Article Produced By
EON.INC

http://eon.org/
pr@eon.org
https://cointelegraph.com/press-releases/what-is-eon-why-is-it-so-popular-among-eos-investors

South Korea to Develop Crypto Beach’ Modelled After Switzerland’s Crypto Valley’

South Korea to Develop ‘Crypto Beach’, Modelled After Switzerland’s ‘Crypto Valley’

South Korea has revealed plans to launch a blockchain center

in Busan city modeled on the Swiss Crypto Valley, local news outlet Edaily reported June 14. At a recent blockchain event in Seoul “2018 Global Blockchain Conference,” chairman of the Korea ICT Financial Convergence Association Oh Jung-geun claimed that the organization seeks to build a space similar to the “Crypto Valley” located in the Swiss canton of Zug. "We need a place to concentrate on the cryptographic industry in Korea like the Crypto Valley in Switzerland," Oh said at the event.

The association reportedly plans to launch the “Crypto Beach” space at Haeundae, Busan. Located in eastern Busan, South Korea, Haeundae is an affluent beachfront community that attracts thousands of tourists each summer. The space has also been classified as a commercial development center by the government in recent decades. The Association reportedly plans to discuss the project with Busan authorities on Aug. 30. Oh pointed out that many South Korean companies must launch initial coin offerings (ICOs) overseas due to the government’s current ban on ICOs. Oh expressed concern about the lack of understanding of the new technology and its benefits by local authorities and their strict regulations.

In September 2017, South Korean financial authorities announced a ban on ICOs, claiming they should be strictly controlled and monitored. The government has ostensibly realized the risks associated with banning the practice, such as displacement of talent and investment  overseas, as South Korean lawmakers are reportedly working on legislation that aims to lift the existing ban on ICOs. As Cointelegraph reported earlier, Switzerland is the most blockchain-friendly country in the world. Swiss Crypto Valley, a state-backed blockchain consortium was launched in March 2017 to support the development of blockchain and cryptography-related technologies and businesses. Last week, the city of Zug announced it will trial blockchain-powered municipal voting this summer.

Article Produced By
Helen Partz

Helen is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2017, she joined Cointelegraph as a writer.

https://cointelegraph.com/news/south-korea-to-develop-crypto-beach-modelled-after-switzerland-s-crypto-valley