Category: Crypto

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Bitcoin (BTC) Futures Contracts Postponed By Bakkt Until January 24th, 2019

Bakkt postponed the Bitcoin (BTC) futures contracts announced by the company for December 12th to January 24th, 2019, as reported by the US brokerage Intercontinental Exchange, also known as ICE. The company, an alliance between Microsoft, Starbucks and the New York Stock Exchange (NYSE), said through its CEO that over the past few months they have worked on their product, which has resulted in “critical new features to support our offer, so I wanted to provide an update on what is in flight.

“Given the volume of interest in Bakkt and the work required to put all the parts in place, we will now have our sights set on January 24th, 2019, for our launch to ensure that our participants are ready to trade on Day 1. As is often the case with product launches, there are new processes, risks and mitigating factors to test and retest, and in the case of cryptocurrency, a new asset class to which these resources apply,
” said Kelly Loeffler, Bakkt CEO.

Among the announcements made by the company, it can also be mentioned that it is considering adding new contracts linked to other cryptocurrencies, although for that they will wait for the evolution of the crypto market and the opinion of their customers. In addition to that, they would offer services related to cryptos that will also include insurance for the cold storage of Bitcoin (BTC).

Bitcoin (BTC) Futures Contracts Postponed By Bakkt Until January 24th, 2019

For its part, ICE said in its statement that “will list the new daily Bitcoin (BTC) futures contract for negotiation on Thursday, January, 24th, 2019, as a subject to approval by the regulator.” In this regard, the brokerage firm explained that the contracts would be 1 BTC in exchange for US dollars.

On August 7th, news portal announced that the ICE Bitcoin (BTC) futures contracts, through Bakkt, would be the first such instruments settled in BTC in the United States and that they will be delivered to the conventional asset market. That makes a difference to the other Bitcoin (BTC) products offered by the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (Cboe), which liquidate BTC futures in cash.

At this point, it is important to mention that the regulatory body related to these contracts is the United States Commodity Futures Trading Commission (CFTC). In October of this year, they announced that, on December 12th, the trading of these Bitcoin (BTC) futures contracts would begin with a daily monetary exchange after the close of the market.

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Crypto News

Canadian Crypto Miner Came Up With A Heating System Based On Bitcoin (BTC) Mining Rigs

A crypto miner in Canada created a prototype heating system for his home using heat released from ASIC mining equipment. The Canadian miner announced that, on November 18th, through the social network Twitter. The heating system runs continuously and is capable of extracting excess heat within the 6,000 square-ft house. The prototype takes advantage of the heat produced by 6 Antminer S9 miners, while they mine Bitcoin (BTC).

Twitter user Jonbros01 shared photos and features of his prototype in a conversation thread with Bitcoiner Francis Pouliot, who initially broke the news that in Quebec, Canada, similar prototypes are being used to heat homes in winter. Pouliot added that he himself, in 2014, was heating his apartment with excess energy created by Bitcoin (BTC) mining equipment.

He added that, during the summer, the heat produced by the mining equipment is sent by the prototype to the outside of the house automatically. “The heat is automatically sent out… Nothing to do, the air intake is adjusted, and unwanted heat is extracted dynamically,” he explained to a Twitter user.

Canadian Crypto Miner Came Up With A Heating System Based On Bitcoin (BTC) Mining Rigs

The Canadian miner said he has no problems with bad smells or noise. “Noise was a big focus point when we designed the system. It doesn’t make more noise than an inherited system. You don’t hear anything in the rooms. My son sleeps in the next room, and he doesn’t hear anything. According to the Canadian miner, it is so quiet that there is no suspicion that the house is being heated by crypto miners.

“The miners are always kept at the perfect operating temperature during the winter, and during the summer only the fresh air from outside is getting into the miners, while the hot air is immediately drawn out because we don’t want heat for the miners,” he said.

The Canadian crypto miner pointed out that his prototype does not require a ventilation system. “No need to cool the miner unless the outside temperature is above 35 degrees Celsius. But for the warmer area we already have a solution that works,” he said.

“Once Ebang E11 ++ is available we will make the required modification to adjust to the size difference. Then I’ll probably start marketing it,” he said. It should be noted that Ebang is a Chinese manufacturer of Bitcoin (BTC) miners, which in late September announced the launch of a new generation of more energy-efficient equipment.

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Crypto Exchanges Enabled Deposits and Withdrawals Of BCHSV, But Only Under Specific Conditions

Several renowned crypto exchanges have enabled their deposit and withdrawal operations with Bitcoin Cash Satoshi Vision (BCHSV). However, they have either imposed conditions or made clarifications about the convenience of this investment, primarily because of the characteristics of the blockchain and the conflict from which it derives.

In this regard, the Kraken exchange stated that Bitcoin SV did not meet the usual requirements to be listed in Kraken and stressed that it is an “extremely high-risk investment.” This asset does not have known wallets that provide repeat protection nor does it have support in the principal ecosystem blockchain explorers.

“No wonder – The responsible exchange platforms do not look kindly on clowns who oppose the protection of repetition, announce the intention to defraud these platforms, and try to launch deep reorganization attacks,” said Emin Gur Sirer on Twitter.

A significant element is that the Kraken exchange platform has made it clear that the losses generated by nChain’s harmful intervention will be socialized among Bitcoin Cash Satoshi Vision (BCHSV) holders.

Crypto Exchanges Enabled Deposits and Withdrawals Of BCHSV, But Only Under Specific Conditions

“Losses of custody assumed due to attacks originating from nChain or its affiliates will be socialized among all BSV holders in Kraken. Given the volatile state of the network and the threats that have been made, Kraken cannot guarantee perfect custody of BSV,” stated Kraken.

For its part, Bittrex qualified Bitcoin SV as a contentious fork, in a statement issued before the fork. The exchange warned that deposits sent erroneously between addresses of these currencies would not be refunded under any circumstances.

“Bittrex will make all reasonable attempts to credit our users with BSV chain division tokens. We will not recover deposits made incorrectly between strings under any circumstances due to lack of repeat protection,” reads the document.

Other crypto exchanges like Binance or OKEx have activated their trade of Bitcoin SV without major protocols, although the withdrawal and deposit of BCH were stopped as a preventive measure before the hard fork. Poloniex, for its part, removed the symbol “BCH” and listed BCHABC and BCHSV, although deposits and withdrawals will be activated once the network stabilizes. Bitfinex also opened its markets for the currencies generated after the fork, using the BAB and BSV tickers.

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Canadian Court Takes Custody Of QuadrigaCX Funds, Frozen By The Canadian Imperial Bank of Commerce

The Ontario Superior Court of Justice has decided to safeguard the funds in dispute between the QuadrigaCX crypto exchange house and the Canadian Imperial Bank of Commerce (CIBC). The Court will have custody of the funds until it is determined to whom they belong.

In October, QuadrigaCX sued the CIBC for unexpectedly freezing its accounts. The funds in the accounts totaled $28 million. On November 9th, the court published a document stating that it will safeguard the assets until it decides in favor of either party.

Back in January, the CIBC froze three personal accounts and two business accounts. These accounts belonged to QuadrigaCX’s payment processor and its owner, Jose Reyes. According to the CIBC, the transfer of assets from the payment processor to Reyes’ accounts was suspicious. QuadrigaCX sued the Bank claiming that they own most of the funds. The CIBC asked the Court to take custody of the funds while their ownership will be determined. The document issued on Friday is the Court’s response in favor of the Bank.

Canadian Court Takes Custody Of QuadrigaCX Crypto Exchange Funds, Frozen By The Canadian Imperial Bank of Commerce

In an October statement, the president of the crypto exchange, Gerard Cotten, said CIBC’s actions were detrimental to the company’s operations. Most of the funds were in QuadrigaCX’s trading accounts. User withdrawal operations have been delayed, according to Cotten. Apparently, the losses generated and the malfunctioning of the exchange could be ignored by the court. Judge Glenn Hainey, in charge of the lawsuit, stated on Friday that the Court could not determine whether or not the CIBC’s actions effectively harmed the crypto exchange.

The Court asked the CIBC to provide further evidence before making a decision. Although the Court has not ruled in favor of the Bank, ultimately the freezing of accounts has harmed the exchange house. This situation is not new, because recently there has been a crusade by banks against crypto exchanges, especially in Chile and Brazil.

At the suggestion of his lawyer, the president of QuadrigaCX refused to answer whether all the funds received had been credited to users’ accounts. For this reason, the judge ruled that there might be a possibility that users might file a claim requesting the return of their funds. CIBC could participate in this claim, too.

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Qtum (QTUM) Launched Its Second Blockchain Node In Earth’s Orbit

Qtum (QTUM), in collaboration with the SpaceChain Foundation, has put into Earth’s orbit the second node of its blockchain, which will allow multiple signature transactions and execute smart contracts directly from a satellite in space. The device was launched from the Taiyuan Satellite Launch Center in China’s Xinzhou Province in October.

However, only a few days ago the company confirmed that its satellite entered the designated orbit without any problems, allowing the first transactions to be carried out without setbacks and monitoring its orbit around the planet. The node is incorporated in a cube on the outside of the CZ-AB spacecraft’s ring.

Also, according to data from the Qtum (QTUM) press release, the satellite brings with it a SpaceChain OS operating system payload, which will allow processing all the operations performed from this satellite in the Qtum blockchain. The launchers verified that the incorporated hardware and software would remain operational at the time of entry into orbit, an objective that has been achieved in Qtum’s simpler functions – such as performing transactions – but that will be subjected to much more complex tests.

Qtum (QTUM) Launched Its Second Blockchain Node In Earth’s Orbit

In addition to Qtum (QTUM) and SpaceChain, the Chinese companies Tibet Zezheng Information Technology and Beijing Xinhua Science and Technology also participated in the launch. Similarly, in the social networks, users suggested that the government of China also must have been involved in the launch since it required an approval.

Thanks to this recent launch, Qtum (QTUM) already has two nodes of its blockchain orbiting in space in just one year. Last February, the platform had celebrated the launch of its first node, an event that has given it experience in the middle.

However, Qtum (QTUM) is not the only blockchain initiative that has reached Earth’s orbit, as the exchange house Blockstream also decided to launch its own satellite to process Bitcoin (BTC) transactions around the world, in a project undertaken since August 2017.

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