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Libra Facebook.

Libra - Regulations Can Live in Harmony


Recently we were shocked by the existence of several companies that canceled the collaboration with Libra Facebook. But this is not a blow to Libra. Libra will continue to strive towards regulation. Libra will not be launched without the supervision of appropriate regulations and handle legitimate issues. The information we got from Libra tweet "Regulations can live in harmony."

"We have said from the beginning that Libra must not and will not be launched without the supervision of appropriate regulations and handle legitimate issues. Every time someone agrees with us, it is not a" blow "or" setback. "Innovation and regulation can live in harmony "@Libra_.


This gets a tweet response from @JoeSmo05464358 "Yes, by definition" agree "with you, I don't think anyone believes it will be a 'blow' or 'setback.' Hopefully, your governance is better than your grammar lol, " said Joe Smo.



On the same occasion, Libra also received a good response from @MAEHusseini. In his Twitter response saying "You have to start by collecting various regulations related to @libra, provide economical analysis and run AI on top. Reach a general understanding, set principles, and create #Model #law that fits between different jurisdictions. " said Mehdi El Husseini (@Davidmarcus).



Karim Naufal (@mysticaltech) also added that: Well said! Keep up the good work. You are a trailblazer. Someone has to do this hard work sooner or later ... It is in the government's interest to ensure that regulated #cryptocurrency like #Libra sees the light of today, otherwise unregulated alternatives will develop!



Maybe we need to question the meaning of @mysticaltech tweet that states "unregulated alternatives will develop!". Does he mean about Bitcoin which has not been regulated by anyone?

This is different from the response given by Conner Brown. We said from the beginning that libra should be an accessible bitcoin wallet. Every time you ignore it just shows your incompetence and ignores financial freedom. Bitcoin and Facebook can live harmoniously, said @_ConnerBrown_



So what has been the response of cryptocurrency users who have been adapting so much about Bitcoin, Ethereum, XRP and other coins that have cryptocurrency without regulation?

6 Crypto Noncustodial Payment Solution for Traders

You don't have to be a bitcoin criminal or tech tamer to want to accept cryptocurrency without using a third party. With lower merchant costs, longer network time, Non-custodial crypto payments have several advantages over traditional fiat payment systems and there is no chargeback. Here are six non-custody options for receiving crypto in-store and online.

Thank Crypto Without Questions

For merchants who are interested in receiving cryptocurrency in-store or online, there are now many choices. Large companies such as Coinbase and Bitpay dominate the industry, with the latest containment solution promising to isolate retailers from crypto volatility. But that not all detention solutions protect traders from. Due to the permitted nature of this payment system, retailers run the risk of violating the terms of service and closing their accounts, which happens more often than you might think - just ask Gab.com.

If any of your customers come from countries that are subject to U.S. sanctions, for example, you risk closing your account by U.S. payment providers. The fact that you transact in cryptocurrency will not save you when you use a custodial solution. There is a greater reason why it might be desirable to find a noncustodial crypto payment solution. Doing so brings greater privacy, gives you sole ownership of funds once the transaction is completed, and is a far truer way to transact with cryptocurrency, without intermediaries.

Coinbase Commerce

Coinbase Trading

Coinbase drew criticism for some of its executive decisions, and it did not oppose the derailment of its exchange users for the thinnest reasons. But it is difficult to take exception to the company's merchant payment solutions. Coinbase Commerce is non-custodial, easily regulated and free of charge. BTC, BCH, LTC, ETH, and USDC are all accepted, and the interface is neatly designed. He claims to already have more than 2,000 traders who use Coinbase Commerce.

Bitcoin Cash

Bitcoin Cash

About as easy as a merchant application, Bitcoin Cash Register is an Android and iOS application developed by Bitcoin.com. All you need to get started is a public key to your BCH wallet. This is simply because cryptocurrency is meant to be simple. There is no need for a second layer solution, payment channel or guard to convert crypto into fiat and vice versa when customers can only press a button and funds are sent directly to the merchant's wallet in seconds. The Bitcoin Cash Register is limited by being BCH-only, but in every respect, this is a perfect example of what should be a noncustodial crypto payment solution.


Atomicpay.

Atomicpay

Atomicpay is a noncustodial payment application that supports seven cryptocurrency including BCH, BTC, LTC, and DASH. User friendly, offers price conversion to more than 150 fiat currencies, and has good privacy practices, including generating a new address for each transaction. You can integrate Atomicpay into e-commerce modules such as Woocommerce, and it's easy to generate payment buttons to be embedded on your site.

Atomicpay is also suitable for use in physical stores. Offers API integration and the ability to generate payment invoices in just a few seconds. In terms of fees, Atomicpay charges a reasonable 0.7-0.9% fee per transaction, with a Personal plan that does not require KYC to start. However, upgrade to the Business package, and you must undergo KYC. Greater cryptocurrency support, such as ETH, will be useful, as are additional e-commerce modules, which will be coming soon. In addition, Atomicpay provides all-round options for traders who want a non-custody solution.

Blockonomics

Blockonomics

A special BTC service with a number of advanced features, Blockonomics is a non-containment solution for traders who understand crypto. It's not difficult to use if you are familiar with cryptocurrency, but there are many things that happen here. A number of e-commerce plugins come with company invoices and the ability to receive BTC to your existing wallet including a hardware wallet for added security.

CMM Pay.

CMM Pay

CMM Pay is a UK-based payment startup whose non-containment service was only launched at the beginning of the month. BTC is the only major crypto supported at this time, although additional assets are on the way. Setup takes less than five minutes and, as a non-custodial payment solution, there is no need to undergo KYC. The standard CMM Pay fee is 1%, although for a limited time this has been completely eliminated. Features include 24-hour customer support and a merchant dashboard to view cryptocurrency sales, business wallet balances and a number of other metrics.

8Pay

8Pay

8Pay is a non-containment payment system with a twist - some real twists. Operating on the Ethereum network, it provides on-demand and recurring payments between retailers and customers. This makes it possible to arrange subscription-based payments for goods and services. The best part of all of this is that this can be achieved without sacrificing decentralization: Pay is non-custodial and does not require KYC. The only downside is that as Ethereum only solution, it is limited to ETH and ERC20 tokens including Stablecoin. However, there is a good reason for this: implementing the type of features built by 8Pay in its payment protocol to utilize such smart contracts that cannot be supported by most other crypto networks.

After the 8Pay web and cellular application are launched, buyers can subscribe to demand-based and recharge services (think about movies, music, toiletries, household needs, utility bills) with tokens deducted from their fixed crypto wallet. interval until they choose to cancel the settings. 8Pay also features a payment button, a unique payment link, and the ability to generate invoices quickly.

What other non-custody merchant payment solutions do you recommend? Let us know in the comments section below.
German finance minister Olaf Scholz has responded firmly to the presence of Facebook's crypto output, Libra, Reuters reported on September 17, 2019. img/ coinone.co.id

The German Finance Minister Respond Decisively to Libra Presence

In a panel discussion held in Berlin, Olaf Scholz openly rejected the presence of Stablecoin like Libra, "We cannot accept parallel currencies," as quoted by Reuters. then

According to the order document seen by Reuters, stablecoin will not be an alternative to fiat currencies because Germany along with European and international countries will reject it.

The rejection made by the German Minister of Finance is not something new for this Facebook output stablecoin, Western European countries like France are also calling for the same thing, the French government is worried that Libra can bring "monetary sovereignty" to European countries, Express.co. uk

Libra is a stable coin that will run in a blockchain network that is secured by 100 distributed computer servers or nodes. To create an open and interoperable financial services ecosystem and to expand inclusion

Stablecoin is a cryptocurrency created to have a stable value based on the value of goods such as the United States dollar, gold, and others.

Strong response to Libra

In addition, the head of Libra development David Marcus also received a strong response about the crypto that wants to be released from the United States senators at a parliamentary meeting held last July.

An American Senator named Sherrod Brown started the discussion about Facebook which he considered "dangerous" and also was not worthy of trust by Americans. The scathing response that was brought up continued to offend the privacy of Facebook user data on errors that had occurred. "Facebook has shown scandal after scandal that it is not appropriate for us to believe," Brown.then said

But David Marcus denied the problem that had happened to Facebook when it was associated with political problems. He explained that Facebook had also tried to fix the problem

Marcus also opened his voice regarding the planned launch of Libra at the hearing session that the Stablecoin did not intend to replace the existing fiat currency. He will only launch Libra when the related regulations are completed and have received the green light from the authorities and regulators.
Libra Facebook.

Bitcoin Scaling Issues Forcing Facebook to Make Libra.


Libra exists due to the presence of Bitcoin. As much as it proved by itself since Satoshi's creation laid the foundation for each crypto asset that was followed. The extent to which Bitcoin is responsible for spawning Facebook's currency has now been made very clear in an interview with Abra's Bill Barhydt. The investment platform CEO claims that Facebook wants to integrate BTC directly into its billions of powerful social networks - but was forced to create Libra instead because of Bitcoin's inability to scale.

How is the Inability of Bitcoin to Weigh Libra Projects Issued

On the What Bitcoin Did podcast last week, host Peter McCormack entertained Bill Barhydt of Abra, who revealed insider knowledge about the development decisions that guided Project Libra. Before Facebook went ahead with plans to create a stable currency, Facebook had explored the possibility of integrating Bitcoin, Barhydt claims. The plan is to activate BTC as a payment option in the entire Facebook ecosystem.

"Ideally, from my discussion, [Facebook] actually prefers using Bitcoin. I think there are people who really believe in this system, "ventured Barhydt. The idea of   Facebook supporting BTC in the world's largest social network, and it's likely that the second and seventh largest (Instagram and Whatsapp) might seem strange, and we might not be never known for sure whether this was the original plan, but Bill Barhydt was well connected, and so his comments were quite influential, when he told Peter McCormack:
If you want to build a money transfer system and you want to build a cross-border trading system and you have 1.2 billion users today, what will happen to Bitcoin? Costs will skyrocket. Doing anything with Bitcoin that is transactional effectively cannot be maintained.
LIBRA DEEP DIVE

Why Bitcoin Will Not Scale

Facebook embraces Bitcoin, regardless of what people think about the tech giant, it will be very bullish for BTC and for the cryptosphere as a whole. The 1.2 billion people who are introduced to healthy money, even in a clean Facebook walled environment, will be huge. That did not happen, due to the inability of Bitcoin to support the number of transactions that could potentially flow through the network as a result.

The inability of Bitcoin to scale has certainly been a matter of intense debate in the community for years, causing deep cracks and resulting in permanent divisions that occurred when Bitcoin Cash was cut in mid-2017. BCH supporters have long accused the developers of Bitcoin Core, led by Blockstream loyalists, who do not want to substantially increase the block size to allow more transactions per second (tps). Since increasing the block size to four times the BTC, BCH can theoretically process around 100 tps, and offer transaction costs that are currently 113X cheaper.

Increasing block size is a simple but effective scaling solution that has allowed Bitcoin Cash to process hundreds of thousands of transactions a day on a test - more than enough to absorb the demands of large companies like Facebook that are entering into a fuss, for example. Critics will note that there are limits on expanding block size, beyond that centralization occurs because of the difficulty of users being able to run nodes to verify transactions independently. The sweet spot beyond the unwanted need to continue to increase the block's capacity blindly is a matter of debate. What is clear, however, is that the decision by Bitcoin Core developers and their helpers to keep the BTC blocks as small as possible has pushed businesses away from Bitcoin and reduced merchant adoption.

Adoption of Emptiness

Instead of scaling Bitcoin, Core supporters have pushed the layer two solutions they are very proud of, Lightning Network, to take the burden. But there is a problem with that approach: Lightning is still not ready for production, and maybe years away from being suitable for company adoption. Only last month, a critical bug was discovered in the protocol, considered so severe that it wasn't even revealed until all nodes had the opportunity to update to patched software. The incompatibility of Bitcoin as a payment system, coupled with the Lightning mismatch for almost anything other than buying stickers, has led to an adoption vacuum. Businesses, including Facebook, if Abra's CEO wants to be trusted, wants to use the network but can't do it.

'These are smart - people,' said Barhydt from the Facebook blockchain team. "They have seen Lighting, they have seen Bitcoin, they have thought about this. And they came to the conclusion that Bitcoin is not optimized to be a payment network, Bitcoin is optimized to be digital money now. "Proponents of Bitcoin Cash will agree that BTC is not optimized to function as a payment network, but will refuse at the time. Suggestions that it is capable of functioning as digital cash now - it is a use case that BCH is currently fulfilling more successfully.

Even with larger block size, there may be technical or other regulatory obstacles that prevent Facebook from using BTC. What can be stated with certainty, is that the inability of Bitcoin to scale, coupled with the complexity of Lightning, and the security issues and UX that accompany it, has created a perfect storm. Into this vortex eye has stepped on the Libra Project, the biggest demonstration yet of what happened when the P2P payment network stopped functioning as digital money.

Do you think Facebook is seriously considering using Bitcoin? Let us know in the comments section below.
Bitcoin Cash [BCH]

History of The Bitcoin Cash

Bitcoin Cash - For many newcomers in the crypto world, cryptocurrencies are quite confusing because there are currently more than 2,100 coins and tokens in circulation, both original and derivative coins. Bitcoin itself which incidentally is the first cryptocurrency already has a wide variety of variations, including Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, and Bitcoin Private. From these variations, BTC biggest competitor is Bitcoin Cash (BCH).

Definition of Bitcoin Cash

The definition of the official Bitcoin Cash website says:
Bitcoin Cash is peer-to-peer electronic cash for the Internet. Fully decentralized, does not involve (the role of) the central bank and does not require a third party to operate.
The emphasis on the "peer-to-peer electronic cash" section is done because the main benefits of Bitcoin Cash are solely focused on the ability to carry out more transactions that are free of network delay constraints. Bitcoin Cash does offer a way to adjust the difficulty level of work faster than the normal difficulty adjustment interval on Bitcoin.

Bitcoin Cash

Created Because Bitcoin Transactions Are Too Expensive

Bitcoin Cash (BCH) is the result of Hardfork Bitcoin which aims to solve scalability problems through the use of larger blocks. Constraints related to scalability in Bitcoin arise when the number of BTC transactions which is rapidly increasing starts to fill the network. This causes the Bitcoin network to be slower and the cost of conducting transactions even more expensive than before. At that time, the cost per transaction on the Bitcoin network reached more than $ 5, regardless of how much BTC was traded.

To overcome this, there are two options which are then debated by the developers; increase the size of Bitcoin blocks or second-tier solutions like Lightning Network. When both parties cannot reach a compromise, a dispute occurs and leads to the creation of a new coin which they consider more perfect, namely Bitcoin Cash.

Supported by Roger Ver, mining giant Jihan Wu, crypto industry leaders, and other experts, Bitcoin Cash was made after hard forking was quite difficult on the Bitcoin Blockchain, by implementing a block size that increased to 8MB. The aim is to overcome transaction bottlenecks and confirm faster transactions into each block.

Larger blocks allow more transactions to occur within a block. However, this is accompanied by a worrying weakness. Those who are still in favor of the BTC argue that the larger blocks will ultimately lead to the centralization of mining.

On the other hand, supporters of BCH argue that through Moore's Law-based technology that is implemented, mining crypto Bitcoin Cash will not be centralized even though it allows the application of larger blocks.

Difference between Bitcoin Cash and Bitcoin

Bitcoin Cash (BCH) at a glance is similar to Bitcoin, but basically has some very striking differences:
  • The block size is 8MB.
  • Will not have Segwit.
  • It will not have the acceleration feature at an additional cost.
  • Has replay and wipeout protection.

As such, Bitcoin (BTC) and Bitcoin Cash (BCH) are two different and independent currencies. Bitcoin Cash may not be sent to Bitcoin addresses, and vice versa.

Anti Replay Attack

One of the best features of Bitcoin Cash is how it is able to withstand one of the biggest problems facing any cryptocurrency after Hardfork, the replay attack.

What is a replay attack? Replay attacks are repetitive data transmissions. This kind of transmission takes transactions that occur on one Blockchain and repeats them on another Blockchain. Thus, a replay attack is able to issue or use the same coin more than once, and this can totally damage the Blockchain network due to supply disruptions.

Bitcoin Cash can protect itself from replays because it uses a redefined sig hash algorithm. This algorithm is only used when the sig hash flag has 6 sets of bits. In this case, the use of OP_RETURN output which has a unique string as additional data is able to ensure the security of Bitcoin Cash. Any transaction that contains a unique string will be considered invalid by the Bitcoin Cash node up to the 530,000th block. Basically, before the block appears, you can divide coins by transacting on the non-UAHF chain first with the OP_RETURN output, and then transacting on the second UAHF chain.

The Bitcoin Cash Hash War

Recently, there was a war that occurred in the Bitcoin Cash community and was nicknamed the Hash War. The Hash War is basically a civil war between two competing factions in the Bitcoin Cash community:
  • Bitcoin ABC (Adjustable Blocksize Cap): is led by Roger Ver and Bitmain's CEO, Jihan Wu.
  • Bitcoin SV (Satoshi's Vision): is the party chaired by Craig Wright and billionaire Calvin Ayre and the owner of CoinGeek.

The two Bitcoin Cash factions above used the power of the Hash to mine the longest chain. Whoever has the longest and more efficient chain, will be the dominant Bitcoin cash chain. According to coin.dance, 71.8% of the community supports Bitcoin ABC, while Bitcoin SV only holds 28.2%.

Conclusion

There are many strong supporters of Bitcoin Cash who believe that on-chain scaling is the main solution to the current scalability problem. Although it hasn't succeeded in overtaking the original Bitcoin chain in terms of popularity, trust in Bitcoin Cash has not diminished.

While many people deride Bitcoin Cash, there are arguments that argue that testing an on-chain scaling solution is a good test for all cryptocurrencies. If it refers to the development of faster adoption of cryptocurrencies, then it does need Blockchain space that is large enough to prevent network slowdown problems.