As Bitcoin for Payments Concept Grows, So is the Lightning Network Fee Debate

As the Bitcoin Lightning Network evolves and becomes something bigger than it was before, several developers are discussing its future at the Lightning Conference, which is happening in Berlin right now.

Now, the developers are discussing the fees of the network. At the moment, the default fees are at 1 satoshi plus 1 part per million of the payment. This means that you pay the smallest unit of Bitcoin plus a small part of the money that was sent.

Node operators have the freedom to hike fees if they wish, but historically, this was not done extensively. According to Rusty Russel, a developer from Blockstream’s c-Lightning, two-thirds of all nodes do not charge more money than the minimum fees. Because of this, he has recently proposed to spike the fees to 5 satoshi plus 500 parts per million, a considerable hike.

Some people believe that increasing the fees is important to protect the future of the network. Pierre-Marie Padiou, the CEO of ACINQ, has agreed with Russel. Jack Mallers, the founder of Zap Solutions did as well. There is a clear movement of people who think that this can solve problems.

However, others are concerned that this might hurt the image of the network, as one of the main selling points of the Lightning Network is that it is very cheap to use it. The CTO of Lightning Labs, Olaoluwa Osuntokun was one of the main forces against the changes. According to him, this could create an image that the developers are the ones deciding the fees on the network.

Olaoluwa believes that the operators should decide. If their fees are too high, people will choose other services. This means that the market would be balanced, in his opinion.

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Author: Gabriel Machado

Roger Ver and Acquire O3 Labs, a Blockchain dApp Developer in Japan, a company led by the controversial Roger Ver, has recently acquired O3 Labs, a Japanese blockchain development firm. According to the official announcement, which was made today, the company was acquired for an undisclosed amount of money.

Until now, O3 Labs was focused on offering a digital wallet for its customers, which had a programming interface to be used for developer support. The wallet also supported some lesser-known tokens such as NEO and Ontology.

Stefan Rust, the CEO of, commented on the occasion. According to him, the team will join and it will help in the acceleration of all services in the network. He also affirmed that one of the goals was to let the customers manage their assets in a more effective way without needing any kind of traditional bank to do it.

According to the agreement of the sale, O3 Labs will be absorbed into All the staff will be maneuvered to new positions. It was not announced, however, whether the two founders of the company Andrei Terentiev and Apisit Toompakdee, will join the company.

Another point not completely clear right now is what is planning to do exactly with the new company. Rust seemed to hint that a new project would be developed, but there is not enough information to confirm that.

This was the first time that acquired another company since Rust started as the CEO. Before him, Roger Ver was the CEO of the company.

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Author: Gabriel Machado

New Lightnite (Fortnite-Inspired) by Satoshis Games Uses Bitcoin’s Lightning Network for Payments

You may have heard of Fortnite. It is the most famous video game in the world right now, so it is not surprising that people are starting to apply the blockchain technology to it.

Satoshis Games has recently announced that it is developing a new game called Lightnite, which is said to be similar to Fortnite but using the Bitcoin Lightning Network for microtransactions.

According to the game’s announcement, the main idea of the game is that you earn Bitcoin by shooting someone and lose it by getting shot. This means that each interaction in the game either makes you lose money or gain it all the time.

Obviously, the best way to deal with so many microtransactions is to use the Lightning Network. The network allows transactions as low as $0.00008 USD without clogging the network, so it is ideal for this kind of game.

It was also announced that some items in the game will have a value in BTC that you can pay for with coins you pick up from a dead player. You can use BTC to buy items from the store. The balances of the players will be updated all the time.

Fortunately, the game will have two modes. One of them is as described and the other one is set to be Bitcoin-less mode, in which non-Bitcoin users can also play without losing or gaining any money whatsoever.

According to the company, the game will be released on all major platforms such as Steam and, but also on Elixir, a new game distribution platform by Satoshis Games.

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Author: Hank Klinger

CoinShares CSO: Wall Street Using Bitcoin May Not Be A Win-Win Situation

Most of the crypto community seems to believe that institutional traders adopting Bitcoin can be a huge thing for the market. Surely, prices will go up, but is that the right way for the network to grow? During a recent interview with RealVision, the Chief Strategy Officer of CoinShares, Meltem Demirors, has affirmed that this might not be the win-win situation that most people believe.

According to her, big financial players are set to transform how Bitcoin is seen around the world. Bakkt, the futures exchange of the giant Intercontinental Exchange (ICE), is set to change how the market operates and the same can be said about other successful companies such as Grayscale, for instance, which is having a pretty good year.

This will impact the market. Demirors, however, was somewhat skeptical about the centralization that this could cause. If half of the supply was stored somewhere and people now had receipts to prove that they owned BTC, how different would it be from fiat currency? How decentralized? Would Bitcoin still be the same? This is how she put it:

“If we take 50% of the world’s Bitcoin and we put it in custody with a custodian that’s regulated… and we take these Bitcoins, and we put them in a vault somewhere… and then we issue Bitcoin depository receipts — pieces of paper that allow us to trade the underlying Bitcoins sitting in a vault somewhere — but we never actually exchange Bitcoin on the Bitcoin network, is that still Bitcoin?”

These are important questions that need to be addressed. Bakkt did not have a great launch and it started slowly, but it would be naive to believe that this kind of platform does not slowly change how the market operates.

With so many asset managers in the game (including CoinShares), won’t Bitcoin stray away from what it was created to be? At the moment, we can only speculate, but we’ll probably have the answer to the question in a few years from now.

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Author: James W

Brave Blockchain Browser iOS App Set to Integrate BAT Rewards, Possibly in November?

Brave users on iOS set to receive rewards as leaks of the new Apple based application surfaces on Reddit. A Reddit post on BATProject, offers a glimpse on the new privacy focused Brave browser mobile application for iOS users.

According to the post, Apple users will now be able to reward their favorite curators on the app using the Basic Attention Token (BAT) in the coming weeks. The applications integrates crypto based rewards on the application following a long wait on the feature to be added on iOS devices.

Ready for iOS brave rewards and ads ? from BATProject

Back in March, the Brave browser developers announced the launch of rewards on the Android application promising an iOS application before the end of 2019. The company seems to be staying good to its word with the application expected to be released in November. The team will probably make the official announcement in the coming fortnight.

The application is set to launch with the Brave Ads program, a feature that allows users to earn dollars for viewing ads on the platform. The browser does not collect data on the ads the consumer views, which preserve’s  the users’ information privacy.

In August, Brave browser partnered with Yubico, a hardware security provider, to offer secure Phishing-resistant authentication on iPhones and iPads.

A huge following on Brave browser

Brave browser is gaining quite a following and reputation as big market figures praise the platform in light of privacy developments. The browser was ranked as the number one browsing app in Japan by App Brain beating Firefox and Opera to the crown.

Furthermore, Wikipedia joined a list of over 290,000 verified publishers on the browser as the overall number of users skyrocketed to over 8 million as of October 17.

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Author: Lujan Odera

Binance Adds New Trading Pair Options for Its BUSD Stablecoin with ETH and XRP

Binance has announced some new trading pairs for its USD-pegged stablecoin BUSD. After the update, you can now trade BUSD for XRP, Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), ABC, Ethereum Classic (ETC) and Chainlink.

The new stablecoin, which was just launched last month, is a part of a partnership between Paxos and Binance. According to the agreement between the companies, Paxos works as the stablecoin provider, as it holds the reserves and issues tokens, and Binance supports it. The company lets users trade BUSD on its platform. It can also be automatically traded for Binance Coin (BNB) and Bitcoin (BTC).

One of the greatest achievements of the token so far is that it was approved by the New York State Department of Financial Services (NYDFS) and received the rare BitLicense, the special license that lets New York residents trade a digital asset.

Since the launch of the stablecoin, BUSD has retained a price close to the USD. In most trading platforms, you can buy it from .99 cents to $1.06 USD.

Curiously, Binance US, the U. S. branch of the company, is supporting Tether (USDT) instead of BUSD. There may be a reason for that, though, as BUSD’s market cap is dwarfed by Tether’s, which has traded over $19 billion USD in the last 24 hours when BUSD has only seen $10 million in trades.

This is not the only stablecoin native to the Binance chain, however. Binance GBP, a version of the stablecoin based on the pound, also exists, as well as StableUSD, another USD-based stablecoin. Finally, there is also Venus, an ongoing project which was once described as an “independent version of Facebook’s Libra”.

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Author: Daniel W

Former Fed Nominee for President Trump to Launch Frax Stablecoin Not Pegged to USD

The former pick of President Donald Trump for the Federal Reserve (Fed), Stephen Moore, has recently affirmed that he will issue a new stablecoin, which is set to be backed by a fractional reserve.

Moore is set to partner with Ralph Benko, a former deputy general counsel from the Reagan era, and with Sam Kazemian, the founder of Everipedia. Together, these three will launch the new stablecon, which will be named Frax.

The announcement revealed that Moore will serve as the new Chief Economic Officer behind the product and that Kazemian will work as the other co-founder in this initiative.

According to Moore, private currencies such as the one he is creating will soon be an important competition with central banks. This, he believes, will end the government’s monopoly of currencies and money, which will diminish the power of central bankers.

He believes that a global stablecoin will be important because there are several countries living in hyperinflation today and there is the need for a global currency that can have a stable value and protect them from these acute shifts in the economy.

It was also revealed that the new cryptocurrency will not be backed 1:1 with the dollar (USD). Instead, the reserves of the stablecoin will be loaned to generate interest on the money that the stablecoin provider has. This, the creators affirm, will ensure that prices will always stay close to one dollar.

Before joining with the others to launch Frax, Moore was a campaign adviser to Donald Trump. Benko was nearer to the blockchain world as he worked with the Chamber of Digital Commerce before, known as a pro-crypto advocacy entity.

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Author: Gabriel Machado

HTC’s New Low-Cost Blockchain Phone Exodus 1s Will Support Bitcoin Network By Running A Full Node

HTC – a Taiwanese electronics company has announced it’s new smartphone with the name Exodus 1s, empowering clients to run a full Bitcoin (BTC) node on a portable phone. Exodus 1s was launched this weekend at the Berlin’s Lightning meeting. HTC plans to clarify that the Exodus project is something beyond a unique case. Its accessibility will be in all the different forms of cryptographic money.

The new Exodus 1s is a lower-cost form of the evolving HTC’s blockchain-powered phone Exodus 1, which as of late has enabled the users to support BTC.

The firms stated that the estimated cost of the device would be $233 in the market. The new gadget will be accessible to purchase coins utilizing Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Bitcoin Cash (BCH). The Lightening payment network will be used to sell the upgraded version of Exodus 1 at the Berlin meeting.

Since it requires more data capacity to store the full bitcoin records, the gadget will enable its users to install a 400+GB SD card to enlarge its memory. As indicated by Blockchain, presently the size of the full record closes on 250 GB. The cell phone requires a wifi connection to run on a full node or a plug into a power source. Likewise, it can be utilized without such connections. Though the company recommends a connection to be used.

The cell phone features a built-in wallet to help clients safely store cryptographic forms of money. And features of the Exodus1 are 4 GB of RAM and 63 GB of capacity and keeps running on Android Oreo 8.1

The firm announced the device will be first available for clients in 27 countries like Europe, Taiwan, Saudi Arabia, and the UAE. It does not plan to be offered on sale in the U.S yet.

Decentralized Chief Officer at HTC – Phil Chen, expressed that Exodus 1s’s launch, the firm has brought down the barrier at an entry-level for any individual to run a node and take an interest globally. Exodus 1s‘ forerunner Exodus 1 was available for orders for presale last year on October 23 in 34 areas, including the U.S., U.K. and Hong Kong.

Not only concerns related to purchasing and selling cryptocurrencies, but cell phone makers are also progressively looking at blockchain innovations as an approach to reassure clients worried about the security of their private data.

The Chief Officer at HTC said – “We care about this portable identity and users owning their identity and data, and we believe that the phone is the best place to do that’’.

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Author: Sritanshu Sinha

JPMorgan’s Jamie Dimon Dismisses Libra as ‘Neat Idea’ That’ll Never Happen

Nowadays, you can’t go on any reliable source of blockchain news without stumbling into something new about Libra. Sadly, this remains the case.

Libra has taken large amounts of scrutiny, a fair amount of praise, and now a fair amount of pure dismissal. Jamie Dimon, JPMorgan Chase’s Chief Executive Officer, described Libra as something that’s a neat idea, but will never happen.

Dimon delivered this comment during his speech at the Institute of International Finance conference that happened on Friday. Bloomberg reported the comment on the 18th of October. Dimon stressed the fact that the ideas behind Libra’s construction aren’t unique. Dimon then rather cleverly turned the conversation to his company’s stablecoin: JPM Coin. He revealed that JPMorgan is investing over $11 billion on technological development this year.

JPM Coin, XRP and Libra

Dimon had reiterated his opinion about Facebook’s coin when he had commented in July this year that Libra has no short term threat for JPMorgan. At the time, he tried to argue that people have been talking about blockchain technology for more than seven years. In those seven years, according to Dimon, very little new things have happened. He stated that they’re going to talk about Libra like that within three years.

JPMorgan’s native coin is selling itself to have three early applications. Umar Farooq, Head of JPMorgan’s Blockchain Products, had stated that fact. The first application would be to help facilitate cross-border payments for large corporate businesses. These businesses currently rely on wire transfer networks, such as SWIFT.

The second application is Securities Transactions, with the last being Treasury Services to help replace funds a firm holds in various subsidiaries across the globe.

A Mudslinging Warning

Dimon, before JPMorgan announced its own stablecoin, has been incredibly vocal with his low opinion of Bitcoin. Now that the US Bank has stepped into the blockchain ring, all they have is praise for this new form of technology. They also hold condemnation for other types of cryptocurrency due to those being inadequate compared to theirs.

In an objective opinion, Dimon’s statement that Libra will never work out could easily be considered a mudsling. Something that was thrown out there to ruin Libra’s reputation. This could be further reinforced by the fact that directly after that comment, he moved to his company’s coin and sang its praises.

Whatever you, the readers, think about Libra, please do not let blatant political moves like this skew your view. Libra has made enough mistakes to warrant apprehension, and they have made enough promises to warrant praise. It is not Dimon’s job, as a direct competitor, to comment on anything about the prospective stablecoin.

Libra has already fallen on tough times due to regulators cracking down on the stablecoin. Countries across the EU and groups within the US consider Libra a threat to the world’s economy, due to its potential in destabilizing a country’s currency.

Times will inevitably change, and an international currency will happen. It may not be Libra, and it may not be now. However, it should definitely not be because a rival CEO commented about it.

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Author: Ali Raza

Gold Bag Holders Down 20% For The Last 7 Years While Bitcoin Up Over 83,000% Since Then

Most recently G7 and the Bank for International Settlements (BIS) in its report on stablecoins called Bitcoin a failure in providing a “reliable and attractive means of payment or store of value.”

It further states that crypto assets have served as a “highly speculative” asset class for “certain” investors that engage in illicit activities. Moreover, they suffer from highly volatile prices, limits to scalability, complicated user interfaces, and issues in governance and regulation, among other challenges.

This didn’t surprise the crypto community much as Bitcoin has already been declared ‘dead’ 377 times.

However, what Bitcoin detractors fail to note is that the leading cryptocurrency is the best performing asset ever. Also, every year, Bitcoin has been making a higher low.

Bitcoin has actually shown more growth than gold has in over 100 years.

Bitcoin Going to $2,000 then $200

Gold proponents like Peter Schiff, however, love to make wild and baseless price predictions for Bitcoin.

According to his latest such call, Bitcoin would first fall to $6,000 only to make its way to below $2,000. This would mean, a drop of 75% from BTC’s current level, at around $8,000.

Though it is highly unlikely that Bitcoin makes a new low after correcting to $3,200 on December 2018, if BTC does take a drop, Bitcoin investors only see it as a bargain. But according to Schiff that would see “easily another 90% drop, from $2,000 to $200.”

Given his confidence in Bitcoin’s crash, it is the perfect opportunity for Schiff to short Bitcoin. And now with 125x leverage available on Binance, he can rake some good money.

But maybe he’s just not into money or he just wants the Bitcoin community to keep on convincing him how good it really is, with ‘free’ BTC, that is, for better understanding.

Meanwhile, Gold is Down 16% since Topping in 2012

Bitcoin might be struggling currently around $8,000, down 58% from its all-time high at $20,000 in late 2017, but gold hasn’t seen its peak in the last 7 years.

Only recently, in May 2019 yellow metal starting surging as the global economy showed signs of weakness, central banks get aggressive with cutting interest rates and quantitative easing, trade wars and fears of recession enter the market.

Gold hit its peak at $1,809 on September 12, 2001, as per Since then, however, Bitcoin has been up more than 83,300%.

Bitcoin is not stopping anytime soon, if ever.

The cryptocurrency just hit a major milestone as the 18 millionths BTC was created. We also have another major event, reward halving coming in May 2020 that according to popular analyst PlanB should see BTC going as high as $100,000.

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Author: AnTy