Bitcoin SV leveraged: BitBoss launches Tokenized-powered casino tokens

In a post on Medium, Alex Shore, co-founder and CTO of BitBoss described how the platform uses smart contract processes to process bets and …

Casino blockchain app BitBoss has launched the first casino tokens on the Tokenized Protocol for mobile gaming, in a move that looks set to revolutionize the gambling experience on blockchain.

The real money gaming solutions developer has embedded baccarat and lottery games within a dedicated Bitcoin SV (BSV) wallet, with the games powered by native BSV or custom tokens, such as those specifically created and branded for single-casino use.

Bitboss are one of the most exciting players in the BSV space in my opinion… They’ve been quietly building all year and now we are starting see their proof of work. https://t.co/VP1UYzED4o

— Shadders (@shadders333) September 10, 2019

The platform enables provably fair betting via the BSV blockchain, with bets and results written to BSV transactions. Payouts are adjudicated and administered by smart contract, with double-spend protection built in to the platform.

In a post on Medium, Alex Shore, co-founder and CTO of BitBoss described how the platform uses smart contract processes to process bets and transactions.

As bets are sent to the Bitcoin SV blockchain, a BitBoss designed smart contract processes the bet and places both bet results and payout transactions back onto the chain. They include their double spend prevention technology when using native BSV, and leverage Tokenized’s double spend prevention when bets are placed using a custom token.

According to Shore, the developer is now focusing on their slot machine integration, which would see players sending tokens directly to and from the slots game to their device wallet.

“What’s next? BitBoss will be incorporating provably fair functionality into their mobile games using their patent pending technology,” he noted. “The Tokenized Protocol will also power their Slot Machine integration by allowing players to send tokens directly to a slot machine from their smartphone and then later cash out back to the phone.”

Powered by BSV, the platform makes effective use of BSV double-spend protection, as well as relying on BSV infrastructure and tokens to deliver an optimal blockchain betting experience.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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Coinbase settles a $1 million fraud dispute

Coinbase has reached an agreement with a person who claimed that he lost 80 SegWitCoin (BTC) from an email phishing attack. According to a …

Coinbase has reached an agreement with a person who claimed that he lost 80 SegWitCoin (BTC) from an email phishing attack. According to a report, lawyers involved in the case have facilitated a transfer from the hacker involved to the hacking victim in what looks to be a resolution of the matter.

According to the suit, Liam Robertson, the manager of Alphabit, claimed that more than a million dollars of BTC was taken from his account from an email phishing attack. Robertson claimed that he had 100 BTC in a transfer, but that hackers were able to access his funds before the investment process was completed. The BTC was deposited in a different account not owned by Robertson.

After an investigation was conducted, it was discovered that 80 BTC had been transferred to Coinbase, while 15 BTC has gone to an account on LocalBitcoins and 5 BTC to an offline wallet. In August, Robertson was awarded an asset preservation accord which barred Coinbase from transferring the funds. He later was able to get a Bankers Trust Oder which required Coinbase to reveal who was the controller of the wallet that contained the cryptocurrency.

The attorneys representing Robertson hailed this as a big victory for victims of fraud. Not only were they able to bar the service from transferring the stolen cryptocurrency, but were able to open the door for future disputes to be resolved in courts in England and in Wales. Now that these digital assets will be treated as property, it should become a warning to hackers and other scammers that legal action can be taken against.

In May, a task force launched by the government of the U.K. sought to determine the status of crypto assets under British law. The task force did not make a conclusive determination as to the legal status of digital assets, but this action could likely expedite that matter.

The loss of digital assets each year is reaching ridiculous proportions. According to the cybersecurity firm CipherTrace, thefts, scams, and other illegal means have resulted in the loss of $4.3 billion so far this year, and there is still almost 4 months remaining. It seems that almost every month there are four are five cases reported internationally of scams and schemes that resulted in the loss of hundreds of thousands of dollars, if not millions of dollars. This is causing law enforcement officials to start taking a more proactive approach to stopping these kinds of activities.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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South Korean mobile carrier Union Mobile launches blockchain project

The blockchain race in South Korea is heating up, with several of the country’s largest companies launching blockchain projects in recent months.

The blockchain race in South Korea is heating up, with several of the country’s largest companies launching blockchain projects in recent months. The latest is Union Mobile, a mobile carrier in the East Asian nation, which announced the launch of its blockchain project Wednesday. Dubbed ELYNET, the platform is designed to provide Union’s users differentiated mobile services, the company stated in a press release.

ELYNET will target users who currently use a single carrier for telecom service. It will enable its users to use data services without the challenges that the existing carriers encounter including roaming fees and contracts.

The company stated, “The ELYNET project effectively eliminates the need for expensive data centers for wireless communications, allowing users to enjoy superior telecom quality at dramatically lower costs.”

Union Mobile also hopes that the ELYNET project can help it to gain a sizable market share in the Korean telecoms market. The market is dominated by three companies, with Korea Telecom leading the pack with close to 50% market share. LG U+ and SK Telecom are the other two major operators.

Seyong Ro, Union Mobile’s CEO explained how the ELYNET ecosystem will function stating, “When users connect to the communications network through ELYNET’s own operating system, they can purchase data through ELyX, a token used in ELYNET’s ecosystem, and freely enjoy mobile data communication anywhere in the world without roaming fees or contracts.”

Just recently, Korea Telecom unveiled a 5G-based blockchain platform known as GiGA Chain. The platform will focus on leveraging blockchain technology to enhance security for the Internet of Things industry. GiGA Chain will function as a Blockhain-as-a-Service (BaaS) product and will target enterprises that would love to integrate blockchain technology but can’t afford the cost of implementation.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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Craig Wright discusses economic policies, the housing bubble and Bitcoin

In a recent discussion with fellow Australian economist Steve Keen and Metanet TV editor Jon Southurst, Dr. Craig Wright shared his thoughts on …

In a recent discussion with fellow Australian economist Steve Keen and Metanet TV editor Jon Southurst, Dr. Craig Wright shared his thoughts on monetary and economic policies, the debt and financial crisis, Bitcoin and much more.

Dr. Wright considers himself a neoclassical economist. This approach focuses on the determination of outputs and income distributions in the market through supply and demand. In order to understand economics, you must comprehend the interaction of government and rules with economics and growth, he stated.

While economic policies have continued to focus on the monetary side, they have ignored a much more important aspect; the amount of capital we have available in the society. The monetary aspect is easy to manipulate, Dr. Wright stated, stressing the need to formulate policies that factor in the available capital.

Dr. Wright and Keen also discussed the housing bubble that has threatened the financial systems of advanced economies including the U.S. and Australia. In the U.S., the political push to have everyone own a house, no matter their credit score was responsible for the inflating house prices.

The economic systems in place have also served to purposely mislead us as to what constitutes an investment. All through school, we are lied to that investment is putting our money in a bank for the bankers and the government to play around with.

“Investment would be ‘I’m searching for a new source of coal,’ ‘I’m finding a better way of getting oil,’ ‘I’m inventing a new technique to make food,’ ‘I’m building a factory that’s going to create something more efficiently.’ That’s investment,” Dr. Wright explained.

Dr. Wright also sought to correct a common misconception that Bitcoin was developed to take away the government’s hold on the economy:

The idea that Bitcoin destroys monetary policy is actually incorrect. It’s a lie told by anarchists to mislead people about how Bitcoin works.

True to his philosophy that Bitcoin is not anti-government, Dr. Wright explained how people on the SegWitCoin (BTC) camp have misled the world into thinking Bitcoin is an anonymous currency that can shield them from the reach of the law. One of the reasons this narrative has become widespread is because Bitcoin was launched during the height of the housing bubble. Early adopters started hailing Bitcoin as the alternative that would topple the existing legacy systems. This was never the motivation behind Bitcoin, Dr. Wright explained.

When you properly scale Bitcoin, it’s one billion times more efficient than any system we have. It’s more efficient than Visa, Mastercard, banks, everything combined.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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Bitpay under fire for allegedly freezing Hong Kong crypto donations

Crypto payment processor BitPay has been slammed by press reports in Hong Kong amid claims the firm blocked crypto donations to Hong Kong for a …

Crypto payment processor BitPay has been slammed by press reports in Hong Kong amid claims the firm blocked crypto donations to Hong Kong for a number of weeks.

In the latest publicity crisis for the stricken payments firm, users took to social media to complain about BitPay suddenly refusing to pass on money received in donations through the platform.

Tom Grundy, founder of the Hong Kong Free Press, a crowdfunded media outlet in the territory, tweeted about his sub-par experience with BitPay, urging users to “never use” the service.

In a withering assessment of the platform, he suggested “almost any alternative” would be preferable to BitPay’s platform, claiming, “Funds held for weeks simply b/c HK banks use SWIFT not IBANs…”

Funds held for weeks simply b/c HK banks use SWIFT not IBANs.

Never use @BitPay, folks.

Truly the worst experience you can imagine – poor reputation, abysmal communication, horrible customer service, *very* high fees. Almost any alternative will be better. @spair@BitPaySupport

— Tom Grundy (@tomgrundy) September 11, 2019

Hong Kong Free Press relies on donations, and has been using the BitPay platform without issue since 2015. However, over the past three weeks, BitPay has been blocking donations from getting through, allegedly a result of delays in the fiat system in Hong Kong.

Particularly against the backdrop of the current political climate in Hong Kong, BitPay’s failure has been problematic for Hong Kong Free Press, as well as many other users.

To make matters worse, Grundy says he has been met with silence and a lack of cooperation from BitPay in the face of these problems.

The problems are the latest in a series of damaging revelations about the firm, which has seen scandal after scandal befall its service in recent months. These include freezing payments without explanation, a lack of support for major wallet services, and even attempts to reduce the frequency with which users make crypto transactions.

The firm was also in the firing line after a donation to the Amazon rainforest fires in the amount of $100,000 was frozen and blocked.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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