Monero Is Now The Only 100% Anonymous Cryptocurrency

by Will Long | Sep 30, 2017 | Bitcoin, Dash, Facts, News

A new blockchain analysis firm has released surprising news about Dash and ZCash. There is only one true anonymous cryptocurrency on the market at this time, and it is Monero.

BlockSci, a new blockchain analysis firm, has successfully traced transaction from beginning to end on both DASH and ZCash. This is bad news for these blockchain projects as their biggest focus and value add is anonymity. Now this is technically gone.

The good news is that they were not able to trace transactions on Monereo. Monereo’s level of anonymity and obfuscation is still impenetrable.

MONERO Is Still 100% Anonymous. 👍

From themerkle.com:

Criminals flocking to other cryptocurrencies may want to think twice about those as well. As BlockSci’s whitepaper explains, there are very few cryptocurrencies which have eluded their scrutiny. One of those currencies is Monero, as it provides a degree of anonymity and obfuscation the group has not been able to crack just yet. Monero is officially labeled an “unsupported blockchain due to it not following the one-input one-output paradigm.” That is an interesting point which shows how Monero may be the only cryptocurrency providing full privacy and anonymity right now.

Some people may wonder how Monero is any different from Dash or even ZCash in this regard. While it is true the latter two cryptocurrencies have focused on privacy and anonymity to a degree, their implementations are far from perfect. BlockSci describes how they successfully traced both ZCash and Dash transactions from beginning to end, regardless of features like PrivateSend. This is anything but good news for people who value these currencies for their privacy or anonymity features.

In reality Dash and ZCash user don’t have to worry much. It would be expensive to hire a blockchain analysis consultant to track transactions on these privacy centered blockchains. Just know it can happen.

We still think Dash and ZCash are great. Even if transactions can be traced, it’s still a blockchain asset protected by cryptography. No one can take your crypto assets without your private key.

About Monero:

STEEM Launches Smart Media Tokens

by Will Long | Sep 30, 2017 | blog, Facts, News, Steemit

Steemit just released some very exciting news! Anyone can now launch a blockchain token on the STEEM blockchain using what is called SMTs or Smart Media Tokens.

Blockchain tokenization is becoming extremely popular with the rise of ICOs or Initial Coin offerings on Ethereum like the ERC-20 tokens and on BitShares with User Issued Assets.

Now Steem joins the world market for user created blockchain tokens, but with some unique features. Smart Media Tokens utilize a Proof of Brain algorithm by which the cryptocurrency is distributed. This simply describes the upvoting and payout structure for a system like Steemit. Now anyone can create a token for their content based project, just like Steemit.

From the Whitepaper:

Steem’s Smart Media Tokens (SMTs) give anyone the power to launch and sell Proof-ofBrain
[1] tokens, which are tokens distributed by “upvote” and “like”-based algorithms
and can be integrated with websites to align incentives and spur growth, while websites are
empowered to adopt sustainable, currency-centric revenue models. This model has been
tested and continues to be proven by steemit.com, busy.org, chainbb.com, dsound.audio,
dtube.video and other Steem interfaces, which are monetizing content, tokens and media
in a way never before seen. Source: smt.steem.io

The possibilities are vast with this development. ANY PERSON can now launch their own crypto on STEEM wich has NO FEES! That is huge. Established brands, new brands, even a competitor like Reddit could utilize SMTs for their content.

*It is important to remember that growth of SMTs will lead to more transactions on the STEEM blockchain and demand for the STEEM Crypto assets. This is great news for holders of STEEM and STEEM Power.

The News via Ned Scott – CEO, Steemit Inc:

How Smart Media Tokens Work: An Animated Explanation

Shoutout to @dougkarr for creating the video! Way to go! 👍

Steem STMs are similar to “User-Issued Assets” which can be created on the BitShares DEX. Both BitShares and Steem blockchains utilize Graphene 2.0 technology for cryptographically secure decentralized ledgers.

Graphene Technical Documentation

User-Issued Assets on BitShares Decentralized Exchange:

The BitShares platform provides a feature known as “user-issued assets” to help facilitate profitable business models for certain types of services. The term refers to a type of custom token registered on the platform, which users can hold and trade within certain restrictions. The creator of such an asset publically names, describes, and distributes its tokens, and can specify customized requirements, such as an approved whitelist of accounts permitted to hold the tokens, or the associated trading and transfer fees.

*Regulation-compatible cryptoasset issuance

Source: bitshares.org

Read The STEEM SMT Whitepaper

Lingerie Tycoon Begins Selling Dubai Apartments For Bitcoin

by Will Long | Sep 13, 2017 | Bitcoin, blog, News

Lingerie tycoon Michelle Mone has fearlessly jumped into the Bitcoin world with her new venture of selling Dubai apartments for Bitcoin.

Michelle Mone, also known as Baroness Mone of Mayfair, is a millionaire who is looking to cash in on the rising crypto economy.

From her Instagram:

‪I will be in #Dubai next Wed,Thu & Fri for media interviews.I will also be meeting with potential press agencies www.Astonplazacrypto.com‬ #businesswoman #press #presslaunch #entrepreneur #business #businesswoman #cryptocurrency #bitcoin

A post shared by Lady Mone (@michellemone) on Sep 12, 2017 at 6:05am PDT

Her apartments went on sale on September 6th. She is selling two 40 floor towers which are connected to a large shopping mall.

The Telegraph reports:

“A studio apartment in the complex starts from around 30 bitcoins, or $133,000, rising to 85 bitcoins for a two-bedroom flat. They come with access to a gym, swimming pool and residents’ lounge, and have views over the Dubai Hills and the city skyline.”

The apartments will be extremely nice, similar to what is pictured below (actually probably nicer).

New owners also have the choice to have their apartment decorated by Baroness Mone Interiors, Michelle’s interior design service. And they too can be paid with Bitcoin.

Michelle’s partner in the endeavor, Doug Barrowman owns a company(the Knox group) that struck a deal with BitStamp to be able to hedge themselves against crypto’s volatility.

It is unfortunate to hear that they will be dumping their Bitcoin for dollars, as they will be giving up future billions in cryptocurrency.

But hey, not everyone is smart enough to realize the way of the future and it is pretty cool that they accept Bitcoin. 👍

Source: telegraph.co.uk

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Have You Heard The BITCOIN ALL THE WAY UP Song By Jeff Berwick?

by Will Long | Sep 13, 2017 | Bitcoin, blog, Video

Most of us have heard about Bitcoin’s tremendous gains over the spring and summer of 2017. It feels like it was just yesterday when we were writing about Kim Dotcom predicting a $2000 Bitcoin, which it of course reached and has now touched $5000.

Jeff Berwick of the Dollar Vigilante and Anarchapulco conference has released a video in celebration and anticipation for what Bitcoin will do next.

Check it out:

BITCOIN ALL THE WAY UP – The Dollar Vigilante feat. Freenauts

Berwick decided to lay down his track over the popular song All The Way Up by Fat Joe, Remy Ma, French Montana, and Infared.

Freenauts joins Berwick in this epic Bitcoin track. They lay down solid rhymes and call out some of the people behind the most popular fiat money schemes.

We wanted to make sure this awesome video is on our blog. We suggest you share it on your social media and create a cd for your car with this song as every track. 😁

Did you know Steemit has a new video application called DTUBE? It stands for Decentralized tube and the videos are posted on the STEEM blockchain. The videos are stored and hosted on IPFS, a distributed file sharing and storage system.

Watch Bitcoin All The Way Up on DTUBE

If you haven’t heard about STEEMIT or you haven’t joined yet, what are you waiting for?

Steemit.com is the world’s fastest growing decentralized social media platform. Steemit connects to a robust blockchain database called Steem. This blockchain database distributes rewards in cryptocurrency to the users who bring the best content (blogs, comments, videos etc.) to the Steemit site.

We put all of our blog posts on Steemit under @bitcoinshirtz. Make sure to follow us!

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What Is Bitcoin Cash & How to Claim Your Coins

by Will Long | Sep 13, 2017 | Bitcoin, Bitcoin Cash, News, Video

So What Is Bitcoin Cash?

Have you been asking yourself what is Bitcoin Cash? Lots of people have and it is because currently Bitcoin is facing a scalability issue. The blockchain needs to be faster if it is to support more users and more demand.

Segregated Witness or Segwit is one answer to this issue. The Segwit update to the Bitcoin software intends to speed up the network and address the network scaling issues. However there are people who believe these updates are not what they seem. Segwit changes how blocks are stored. Essentially new storage space is created in Bitcoin’s blocks, which is not subject to the 1MB size limit but rather a separate 0.7MB limit. The witness data( aka transaction info about inputs and outputs) is moved to this new storage space freeing up room in the original space with a 1MB limit.

Bitcoin Cash is the other alternative that simply raises the block limit to 8MB.

On August 1st Bitcoin Cash hard forked the Bitcoin blockchain. It is now its own digital token, separate from Bitcoin (BTC).

On August 24th, Segwit activated on the Bitcoin blockchain.

We encourage you to read our post on The Hard Truth About Segwit.

How To Claim Your Bitcoin Cash

If you had any amount of Bitcoin prior to the August 1st fork, you should be able to claim your share of Bitcoin Cash.

If you read our previous post, Preparing For The BIP 148 Bitcoin Fork – How To Protect Your Digital Assets we included advice on exporting your wallet private keys prior to the fork. The important part being the Bitcoin should be stored in a wallet where you have full control (ownership of private keys). This means moving BTC off the exchanges.

If you use the Exodus Wallet you can easily use their feature to search the wallet for BCH and then send it to an external BCH address.

If you use a wallet like Mycelium you can use the following instructions to claim your BCH.

We were successfully able to claim Bitcoin Cash with the Coinomi wallet for Android. The BTC was originally in a Mycelium wallet and we followed the following instructions per https://medium.com/@coinomi/collecting-your-free-bitcoin-cash-coins-44fcc6008bb6

[UPDATE] How to get Bitcoin Cash from many wallet/software/services with Coinomi

Please consult this article: https://coinomi.freshdesk.com/support/solutions/articles/29000013719-how-to-get-bitcoin-cash-from-many-wallet-software-services-with-coinomi

Add BitcoinCash

Now open your wallet, click on the top left menu, then hit the “+ COINS” button in the button and select “BitcoinCash” from the (mind-blowing) list of Coinomi’s 79 supported coins and 200 tokens.

A pop-up dialogue will appear, asking if BitcoinCash should be added. Hit the “ADVANCED SETTINGS” button. If you clicked “Add” instead you need to delete your BitcoinCash wallet and add a new one. In the “Derivation Path” please enter:

M/44H/0H/0H