Why Ethereum's (ETH) Vitalik Buterin Boycotted Consensus 2018 – Crypto Coins Reports

As the Consensus 2018 event came to a close only a few hours ago, one participant was visibly missing from the event in New York. That person is none other than the co-founder, creator and inventor of Ethereum (ETH), Vitalik Buterin. Mr. Buterin was also one of the original founders of Bitcoin Magazine that has gained prominence in the Crypto-space over the years.
Buterin had informed the Crypto-verse of his intention to Boycott the Consensus Summit this year via a tweet a while back in mid February. In it, he had the following to say about the event:

I am boycotting @coindesk‘s Consensus 2018 conference this year, and strongly encourage others to do the same. Here is my reasoning why. 1. Coindesk is recklessly complicit in enabling giveaway scams. See their latest article on OMG, which *directly links* to a giveaway scam.

The Tweet was accompanied by the following screenshot that explains the issue further:
                                    Screenshot that accompanied the Tweet highlighting the scam
In this tweet, we see first hand, the first reason Buterin decided to boycott the summit. Coindesk, being the host of Consensus, had published an article (screenshot above) that ‘promoted’ a scam directly. Perhaps the article was an honest mistake. Back in February, scams were not that easy to identify or writers were not cautious enough then.
The article was later updated with edits removing the said fake airdrop of OMG. But the damage had already been done. Buterin had decided not to attend.
He then gave 3 more reasons for his Boycott as outlined below.
On April 26th, and on the same Tweeter thread as the first, Buterin added that he was not pleased with Coindesk’s coverage of EIP 999. The tweet read as follows:

2. Their coverage of EIP 999 was terrible. They published a highly sensationalist article claiming the chain would split, when it was very clear that EIP 999 was *very far* from acceptance. This is why pundits need to be replaced by prediction markets, ASAP.

EIP 999 was a proposal to recover the funds that were locked up in the Parity Wallet.
A third reason Mr. Buterin would not attend the Coindesk event was highlighted by him on the same day via twitter:

3. Their reporting policies are designed to trap you with gotchas. Did you know that if you send them a reply, and you explicitly say that some part is off the record, that’s explicitly on the record unless you go through a request/approve dance first?

The fourth and final reason Mr. Buterin was completely against the summit, was the exorbitant attendance fee of $2,000. Not too many Crypto-enthusiasts can afford to ‘cough out’ that amount of money. Buterin had this to say about the attendance charge at the event:

4. And by the way, the conference costs $2-3k to attend. I refuse to personally contribute to that level of rent seeking.

In conclusion, Vitalik Buterin put forth some valid points for not attending the highly anticipated Consensus Summit that just concluded in New York City. One reason that might hit home for many Crypto-enthusiasts, was the $2,000 attendance fee. This is a large amount of money considering that the crypto-verse is based on the core principal of decentralization and having the ‘little guy’ have a say in the happenings of the industry.
Perhaps what Coindesk might have done to ease the feeling of being left out that many Crypto-enthusiasts might have experienced, was to have a few live feeds via the numerous social media sites and apps. Tron has been known to utilize social media very well when making announcements. Justin Sun and the Tron technical team utilize Twitter and Periscope whenever their is a big announcement such as the recent TestNet launch on the 31st of March.
There is no doubt that a similar live broadcast will be organized for the MainNet launch on the 31st of this month, that is less than 2 weeks away.
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J.P Morgan Chase 'Looking Into' Bitcoin (BTC), Blockchain and Cryptocurrencies – Crypto Coins Reports

In a complete 180 degree turn from previous comments by J.P Morgan Chase CEO and Chairman, Jamie Dimon, and with regards to Bitcoin (BTC) and cryptocurrencies, the company’s co-president, Daniel Pinto, has stated that they are looking into the crypto space. In an interview with CNBC, Mr Pinto had this to say when asked about Bitcoin (BTC) and other digital currencies:

We are looking into that space. I have no doubt that in one way or another, the technology will play a role. [Regarding bitcoin], you cannot have something where the business proposition is to be anonymous and to be the currency for unknown activities. That will have a very short life, because people will stop believing in it, or the regulators will kill it. I think the concept is valid, you have many central banks looking into. The tokenization of the economy, for me, is real. Cryptocurrencies are real but not in the current form.

He also remarked about the current trend of Wallstreet firms offering Futures products on Bitcoin and other prominent cryptocurrencies:

If we need to clear futures of bitcoin, can we do it? Yes. Have we done it? No

Mr. Pinto’s comments came almost 6 months after Jamie Dimon had slammed Bitcoin by calling it a fraud. Mr. Dimon had further declared that his firm was willing to fire any employee willing to trade Bitcoin for it was a stupid act. He would later backpedal on his comments to the delight of cryptocurrency enthusiasts who in turn predicted that it would only be a matter of time before he sees the benefits of the crypto and blockchain industry.
J.P Morgan Chase has done just that when it filed for a blockchain patent back in October. The news was not unveiled until earlier this month. The patent outlines a system that would essentially use distributed ledger technology – blockchain – to keep track of payments sent between financial institutions.
In a nutshell, ‘big’ Wallstreet firms have finally seen the light and are in the process of investing in blockchain technology and cryptocurrencies.
[Photo source, money.cnn.com]
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Amazon Eyes Ethereum (ETH), Partners With ConsenSys To Simplify Blockchain Access – Crypto Coins Reports

The Consensus Summit is ongoing and continually bringing news of blockchain developments by the minute. Current news indicate that the cloud computing arm of famous online retailer, Amazon, is partnering with Ethereum Design Studio Consensys,in a bid to assist in the deployment of blockchains for business entrerprises and make them faster and easier to create and deploy.
The Cloud computing arm of Amazon.com is known as Amazon Web Services (AWS) and provides on-demand cloud computing platforms to individuals, companies and governments on a paid subscription basis. Subscribers are then able to access the real computer hardware available through the service. This includes CPUs, GPUs, RAM, Hard Disc storage amongst other hardware services. There is also the option of operating systems, networking and pre-loaded software such as web servers, databases and CRM.
This partnership with ConsenSys aims at bringing blockchain technologies to the same clients, at an easier and faster pace than the usual ICO option.
ConsenSys is an Ethereum based project and infrastructure that furthers the cause of a decentralized world on the blockchain.
Amazon has been eyeing Ethereum for quite sometime now and Matt Yanchyshyn, the global technical lead for AWS’s partner program, told Coindesk the following:

We have been following ethereum closely as it’s what many of our customers have been exploring, especially for enterprise use cases.

With AWS being protocol agnostic, it can support other platforms such as Hyperledger’s Sawtooth and R3’s Corda Platforms. AWS had also released a new service back in April, that launches out-of-the-box blockchain networks for the Ethereum and Hyperledger Fabric protocols.
With the ConsenSys partnership, the two entities will focus on a new start-up that was launched today called Kaleido which is an incubator product of ConsenSys. This will accelerate the adoption of blockchain technology by businesses to a level where the business owners do not need PhDs in cryptography or learn complex coding skills to run the technology running their businesses. Customers will not need to worry about managing the blockchains themselves. It will be part of the service provided by AWS and ConsenSys.
Amazon.com joins a growing list of high profile firms showing their interest in blockchain technology. Just today, DNV GL bought a stake at popular blockchain project, VeChain (VEN). The goal of the partnership is to develop new digital assurance solutions on the blockchain.
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Top 6 (BTC, ETH, XRP, BCH, EOS, LTC) To Highlight At Nasdaq Powered Free Exchange – Crypto Coins Reports

News reaching Crypto Coins Reports indicate that the Consensus Summit, currently happening in New York, will most likely triple in size with respect to attendance when compared with 2017. Such news is also in tandem with the current feel and action of big money getting into crypto in the form of major banks and Wallstreet firms. Notable names that have embraced blockchain technology or cryptocurrencies include J.P Morgan Chase, Soros Fund Management, VenRock, PWC, just to name a few. Also to add to the list is the American based Nasdaq Stock exchange with its backing and support of a new fee-less exchange known as Dx.Exchange.
In an exclusive report from FinanceMagnates.com, the exchange will first feature trading that consists of the current top 6 coins and coins in the crypto-markets. They are: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS (EOS) and Litecoin (LTC).
The new exchange will launch next month and will feature an easy sign up procedure with early registration currently ongoing. Dx.Exchange is regulated by the Estonia Financial Supervision Authority (EFSA). US based customers will be excluded from using the platform until further dialogue is conducted with US regulators.
The Dx.Exchange CEO, Daniel Skowronski, was emphatic about the news and had this to say:

The advantage of this [Nasdaq] cooperation is threefold: the brand name, the technology and the regulations.We [have] created a one-stop-shop for exchanging fiat and crypto, holding coins and as well as wallet services.

Mr. Skowronksi also elaborated on how they will add additional coins and tokens with time:

We are supporting blockchain technology. And the way we can help this ecosystem to progress is by vetting the tokens and making sure the good ones are promoted. We are not going to list coins, just because they pay us. Those who are worthy – will be listed

To note is that there will be a monthly fee on the site of around 10 Euros. This is a drop in the ocean considering all the fees charged by other exchanges when you do the aggregated total using the daily transactions some seasoned crypto-traders do.
There will also be an internal chat in the exchange for users to interact and share ideas as well as a newsfeed on all the coins and projects.
[Photo source, financemagnates.com]
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Tax Collector Accepts Bitcoin (BTC) And Bitcoin Cash (BCH) Through Bitpay – Crypto Coins Reports

The latest available news is signifying that blockchain use cases around the world are growing wider as cryptocurrency is gaining more ground. Bitpay, in a press release, stated that it has reached a formal agreement with Florida’s Seminole County Tax Collector which will permit residents of the county to pay tax with Bitcoin core (BTC) and bitcoin cash (BCH) starting from summer.
According to the release, it was stated that earlier, payment of tax and other levies in the enclave involves third party, and comes with heavy fees, but with the introduction of blockchain technology, the burden of the residents will be eased through payment accuracy, transparency, efficiency, and slashed cost.
Also, the newly adopted means will benefit Seminole County tax collectors by expediting their activities.
A Tax Collector in Seminole County, Joel M. Greenberg, said; “We live in a world where technology has made access to services on demand, with same-day delivery and the expectation of highly efficient customer service and we should expect the same from our government. The aim of my tenure in office is to make our customer experience faster, smarter, and more efficient, and to bring government services from the 18th century into the 21st century and one way is the addition of cryptocurrency to our payment options.”
The development made Florida’s Seminole County Tax Collector the first U.S. Government Agency to Accept Cryptocurrency.
Tagged “the largest global blockchain payments provider” according to the release, BitPay will permit resident to also pay for driver’s license and ID card fee, tags and titles through the use of the two Cryptocurrencies. Seminole County Tax Collector will now receive payment within a jiffy with no risk and price volatility.
While BitPay charges a low cost of 1% for transaction and settlement, issues like credit card fraud and identity theft risks associated with credit cards will be eliminated. Also, transactions will be made a piece of cake by permitting payment through mobile phones and computers.
Head of Compliance at BitPay, Jeremie Beaudry, in his own statement said the achievement marks the company’s first engagement with government agency
“BitPay was started because we recognized the potential for blockchain to revolutionize the
financial industry, making payments faster, more secure, and less expensive on a global scale.”
“With the Seminole County Tax Collector’s office, we have engaged our first government agency to accept bitcoin and bitcoin cash by making it easy and seamless for them.”
Acknowledging the news, BitPay released a tweet in the name of the development.
However, while the news is not the first of its kind, Arizona and Georgia lawmakers had previously proposed a bill this year that it will be allowing citizens to pay tax through Cryptocurrency.
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Is A $1.053 Trillion Total Crypto Market Cap Possible after Consensus 2018? – Crypto Coins Reports

The fourth annual blockchain technology summit known as Consensus by CoinDesk starts today, May 14th and will run up until the 16th. The 3 day summit will be held at the New York Hilton Midtown. The event will feature over 250 speakers and over 4,000 attendees from a variety of industries. They will include startups, investors, financial institutions, enterprise tech leaders, members of academia and policy groups; all building the much needed foundations for blockchain technology and cryptocurrencies.
This year’s event is expected to shatter previous year’s records in terms of buzz and attendance. Last year the event had around 2,700 attendees, over 125 speakers, 80+ sponsors and participants from over 70 countries around the globe. The 2018 event is sure to double the 2017 numbers given the projections by the event organizers, Coindesk, who will be having the New York Economic Development Corporation, as a co host this time. Notable big companies expected at the event include Microsoft, IBM, Proctor and Gamble, Siemens, CME Ventures, Citi, Scotiabank, KPMG, PWC and many more.
On top of the event excitement, is the possibility of a repeat crypto-markets rally during the event that was also experienced last year. During the 2017 event, the Crypto-markets experienced a 27% gain in overall market capitalization value. This was a major leap when compared with the 2016 marketcap gain of only 2.7% during the event in 2016.
Many traders believe that Bitcoin reached the $2,000 mark last year because of the event. Consensus 2017 is also believed to have brought BTC to the media spotlight and catalyzed a market rally that saw the King of Crypto peaking at $20,000 on December 17th last year.
If the last percentage increment in the marketcap is to go by, the markets surge in 2017 increased by a factor of 10 in comparison to the surge in 2016. Does this mean that the 2018 event will cause a rally that will cause a 270% increment in the total market capitalization? This would mean that the crypto market would be valued at $1.053 Trillion by the end of the event and by using today’s total market cap of $390 Billion.
This might sound extreme and wishful thinking, but anything is possible in this crypto-verse.
What is your opinion on how the crypto markets will respond?
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Ethereum (ETH) Futures Are Live and Could Be Key To $2,500 Per ETH By End Year – Crypto Coins Reports

In a press release on the 11th of May, UK based Crypto trading platform, Crypto Facilities, launched Ethereum (ETH) Futures to bring greater efficiency and liquidity to the crypto markets. The new derivatives started trading on the platform as of 4pm UK time on the day of the announcement.
This means Crypto Facilities has 4 Crypto Futures products that include Bitcoin (BTC), Ripple (XRP) and now Ethereum. Ripple is the only asset with an extra product of Ripple to Bitcoin Futures on top of XRP/USD futures. This then adds up to 4 crypto futures products as earlier mentioned.
But what exactly is a Futures contract?
In traditional Stock market trading, A Futures contract is a legal agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future. Futures contracts are standardized to facilitate trading on a futures exchange and, depending on the underlying asset being traded, detail the quality and quantity of the commodity.
How will this move aid Ethereum’s value in the markets?
On May 1st, Crypto Coins Reports had reported of a $2,500 Ethereum price prediction by the end of 2018 that was made by Nigel Green, founder and CEO of deVere Group. This is due to the fact that Ethereum has emerged as the platform of choice for new token issuers due to its efficient and popular smart contract capabilities. This means that once scalability is solved through sharding, Ethereum is sure to obliterate the competition in this aspect of the industry.
The same sentiment of the increasing popularity of Ethereum is the reason Crypto Facilities decided on creating the new derivative of ETH futures. The CEO of Crypto facilities, Timo Schlaefer, had this to say about Ethereum in the announcement aforementioned:

Ether is the second most liquid cryptocurrency after Bitcoin, trading in the billions of dollars daily, and we are excited to be launching ETH futures. The Ethereum network is the pre-eminent blockchain for smart contracts, and we believe this new trading instrument will attract more investors and bring greater liquidity to the marketplace.

This is good and bullish news about Ethereum: the King of Smart contracts.
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News of Bitcoin (BTC) Paper Money and Maybe China Warming Up To Crypto – Crypto Coins Reports

The worst of the crypto-markets seem to be over after the shocking Upbit news that it was being investigated for fraud by South Korean Officials. What has now happened is that majority of the cryptocurrencies are in the green on this fine Mother’s Day!
The King of Crypto, Bitcoin (BTC), is currently trading at $8,464 and up 1.2%. Ethereum (ETH) is up 4.25% and trading at $682. Ripple (XRP) is up 3.28% and trading at $0.689. Bitcoin Cash (BCH) is looking very good at current levels of $1,439 and up 8.02% in 24 hours. This is unique for a Sunday. Most Sundays are usually days of inactivity in the markets. But this is Mother’s Day! Let the markets flourish!
But let us go on a tangent and talk about the possibility of having Bitcoin (BTC) notes in circulation.
Yes. A company in Singapore called Tangem has successfully released a new smart banknote platform. It has launched a pilot sale of the physical Bitcoin notes at a Megafash Suntec City store in Singapore. The notes of denominations of 0.01 and 0.05 BTC are available immediately and started on the 3rd of May. The notes aim at improving the simplicity of owning BTC and circulating it as a regular form of physical money rather than a digital one in a wallet.
The technology is based on a recently developed chip from Samsung Semiconductor. Tangem is also delivering the first shipment fo 10,000 notes to prospective partners and distributors around the world for more pilot testing.
Perhaps such progress in the Crypto-verse is what is making China to start publishing a monthly crypto report.
The Chinese government has been overly strict on the presence of Crypto and its use within its borders. However, in a classic Art of War strategy, the same government is keeping track of the cryptocurrencies in the markets on a monthly basis. As Sun Tzu states in the legendary combat manual mentioned, it is always good to know your enemy well. So you can also adapt in a manner to combat his strategies in preparation for a victory.
What now remains to be answered is if China will go ahead with plans of releasing its own Crypto version of the Yuan in a bid to combat the rest of the crypto-verse and to have a degree of control in the markets.
Only time will reveal the true nature of the Chinese government’s actions.
[Photo source, finews.com]
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'Ethereum (ETH) Could Overtake Bitcoin,' says 'Bitcoin Jesus' – Crypto Coins Reports

To kick this off, let us find out who exactly is Bitcoin Jesus and why is he predicting that Ethereum (ETH) will dethrone Bitcoin (BTC) at the top in an event that has been dubbed as ‘flippening’.
Who is ‘Bitcoin Jesus’?
Roger Keith Ver, also known as ‘Bitcoin  Jesus’, is an early investor in Bitcoin and Bitcoin related startups. Born and raised in America, he has since moved to Japan and has been a prominent supporter of the use of bitcoin as a means to accelerate the much yearned for economic freedom envisioned by Satoshi Nakamoto.
What then is Flippening?
Flippening is a term that has caught on in the crypto-verse that defines the act of one or more altcoins, no longer riding on the back of Bitcoin in terms of deriving market value from it. It marks the end of the dominance and special status of one coin in the form of market capitalization and popularity amongst crypto enthusiasts, and the entry of a new, better and more popular alternative.
So why does Bitcoin Jesus predict that Ethereum will Flippen Bitcoin?
In an interview with The Independent, UK, Roger Ver had this to say about Ethereum:

I see it happening, and I believe it’s imminent. Ethereum could overtake bitcoin by the end of the year and bitcoin cash could do the same before 2020.

Mr. Ver went on to highlight the hurdles that the Bitcoin core technology is having in terms of transaction speed and scaling. Many users are now faced with higher fees although the Lightning network is working on reducing these costs. However, it might be a little too late as Ethereum is gathering a massive following especially with the prospects of scaling being solved through sharding.
He was also keen to say that the use of Bitcon Cash (BCH) might see it even eclipsing Ethereum and Bitcoin by having its price reach ‘hundreds of thousands of dollars’. He added the following about BCH:

It’s not guaranteed but it is much more likely to happen than not. Bitcoin cash has more than doubled in value in the last month and big investors coming in soon could see it double again by next week. People love to chase a rising star.

Bitcoin Jesus’ predictions will now stand the test of time.
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