Monthly Archives: November 2018

Newnote Financial: Crypto currencies change the Bitcoin formula

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HOME CRYPTO BITCOIN NEWNOTE FINANCIAL: CRYPTO CURRENCIES ALTER THE FACE OF MONEY
Newnote Financial specialises in the purchase and development of Bitcoin specific products and services. The company is currently working on an independent ecosystem for such services.

The company Newnote Financial is specialized in the purchase and further development of Bitcoin specific products and services. The company is currently working on an independent ecosystem for such services.

Bitcoin Mining, i.e. the process of Bitcoin formula, will be an integral part

“We want to be able to offer all available services to our customers on a single Bitcoin formula platform,” said the managing director of Vancouver-based software company Newnote Financial Corp. (WKN: A1111P in Frankfurt) Paul Dickson. There is no doubt that Bitcoin formula is increasing slowly but surely, as can be seen from the purchase of a villa on the island of Bali worth USD 500,000, for example.

Dickson says most people simply don’t understand the Bitcoin yet. He compares digital currencies with mobile phones or app stores. “The Bitcoin protocol is like the Appstore and the Bitcoin itself is an App. Developers like us are working on new apps for the Appstore. This “app” should contain various financial services such as trustees or various contracts.

The company recently purchased a new Bitcoin ATM. With the device, Bitcoins can be purchased in just 15 seconds. You can pay with banknotes from over 200 countries. According to Dickson many more machines will follow. The machine is directly linked to the company’s trading exchange. “Who buys thus Bitcoins with the Bitcoin automat, buys also at the same time at our stock exchange, so Dickson.

The exchange Dickson is talking about is also part of Newnote’s fast growing success story. The stock exchange is called Puretrade Bitcoin and will be launched soon. Dickson promises that brokers will find familiar tools from stock trading on the stock exchange. “It’s exactly the same as trading stocks.”

The company recently set a major milestone as Winrock Resources Inc. (CSE:WR), the wholly-owned parent company of Newnote Networks Inc. announced its IPO in April. “We’re really very happy about that,” Dickson said. “We did it without being stopped, we did it very dutifully and we are very pleased with the result. “Slowly everything begins to bear fruit. It will be very exciting in the coming weeks”.

Part of the project is to take advantage of the very cost-intensive Bitcoin mining

Newnotes Bitcoin Mining Center, which has six 10 ton air conditioners, currently has a capacity of 6-7 terahashes, says Dickson. “That means we’re producing about 1 trillion hashes per second.” A hash is the smallest part of the Bitcoin mining process. Over the next few weeks, the company plans to achieve a total of 10 TH and 50 TH by December.

The machines can be bought or rented. The users thus buy gigahashes and the dug Bitcoins are credited directly to their account. Once again, all the services offered by Newnotes are linked. So when a user creates an account to buy Gigahashes, they also get access to the trading platform at the same time. Vice Versa works the same way.

“We’re building a new ecosystem for Bitcoin Services.”

However, the data center also generates its own profits by renting server space to external parties. There are currently 12 external servers in the farm. Billing is per kilowatt hour.

An own crypto currency is also planned. The currency should be called CryptoAid and is actually only an adaptation of the Bitcoin OpenSource software. Unlike the Bitcoins, which go 100% to the miners, a part of the coins is distributed by the CryptoAids. While the largest part of the mined coins goes to the miner, a small part is sent to a group of beneficiaries. The list of beneficiaries was determined by the CryptoAid community and divided into different recipient levels. Those with the greatest need receive most of the donated coins.

15. November 2018

BREAKING: Everything red – What’s going on at the crypto market?

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The crypto market has to be feathered properly and falls to a total market capitalization of 560 billion US dollars. Almost all coins are going down in the double-digit range.

The exact background of the Bitcoin news can only be speculated about now

If that is not Bitcoin news: The entire market for crypto currencies turns deep red on Tuesday, the 24-hour change rate of the individual coins moves between 10 % and 30 % in the minus area. Most heavily it meets with Ripple, Cardano, NEM and Stellar (ever -25% to -30%) straight the boom Coins of the last weeks. What all the Bitcoin news mentioned have in common is that they are supposedly cheap currencies that can be purchased for an amount below or around the one-US dollar mark (keyword pennystocks).

The market as a whole is falling considerably and can now only hold 560 billion US dollars. This is its lowest level since Christmas, when the price plummeted in the course of large profit releases in view of the public holidays. For the lead currency Bitcoin, the almost 12,000 US dollars on which the crypto currency has fallen today even represent the lowest value within a month. However, it should not be forgotten that this mark was the achievement of a new all-time high a month ago.

Really obvious external shock triggers are not discernible in the clarity with which it was partly possible in the past. However, there are a few clues that might take us in the right direction. Yesterday, for example, the usual bonuses paid to brokers at the beginning of the year took place on the American stock exchanges, which usually have a strong impact on market movements in the following days. A look at the trading volumes of CBOE and CME reveals that the Bitcoin futures were also affected by the increased speculation. For example, major investors may have bet on a fall in the Bitcoin price in order to hedge themselves against this or speculate specifically on it. This principle is also called hedging in stock market circles and enables profits to be realised both when prices rise and fall.

Another source of unrest could be China

Apparently, the Chinese government is planning to further restrict trading in crypto currencies and is against access by private servers to centralized trading. Above all, the focus should be on institutional investors with market power. The entire sector will therefore have to undergo a stricter examination – from central exchanges to investors to wallet providers. More precise steps have not yet been specified.

The extent to which both events influence the currently highly nervous market cannot be confirmed with absolute certainty. However, it does provide indications as to why this price slump is likely to be temporary.

12. November 2018

The top-down approach

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Let us assume the example of hospitals, doctors and health institutions. They store large amounts of data and patient information, but so far they have been stored centrally and individually. A blockchain could ensure that the data is decentralized and thus accessible to all institutions concerned.

The problem with this cryptosoft is that it will ultimately be implemented at the local level

In an architecture meeting, the cryptosoft blockchain can be mentioned as an alternative, but in most cases it will be left with a proposal that has not been implemented like this: https://www.onlinebetrug.net/en/cryptosoft/. The decision to organize data via the blockchain would have to be made at the strategic or industry level instead. A decision that ultimately has to be taken top-down and does not work with a bottom-up approach. The network effect puts the bottom-up approach through its paces, unlike nice-to-have technologies or technologies that are complementary rather than subsidiary.

The network of institutions in itself would have to agree to put the patient first and store data in such a way that they can always be retrieved in his favour when needed. This approach contradicts the conventional egocentric architecture of data storage. In principle, it must be determined in which way the so-called Electronic Health Records (EHR) are stored.
The organizational structure would have to break away from its process orientation in order to be able to accept patient orientation.

The complexity of the challenge

One of the most difficult questions that (not only) the Healtcare sector has to face is the question of the beginning. Especially in this example field, which is subject to strict regulation and bears a great deal of responsibility, data storage is an enormously important task. If, in extreme cases, data can lead to other decisions, e.g. by a doctor, when he rescues a patient, then it must be stored in a very stable system and retrievable at any time. This prevents new technologies or prototypes from being quickly tested in a real environment.

9. November 2018

How a Bitcoin secret White-Hat Helped Hackers Solve a Murder Case

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In November 2016, US federal police authorities found a dead woman in Cottage Grove, Minnesota. A suicide was reported to the officers. A 9mm pistol was found next to her elbow. The officers, however, ruled out suicide based on the evidence.

Hitman and the Bitcoin secret

The Bitcoin secret story began in May 2016. The hacker “bRpsd” broke into the database of a Darknet website for contract killers. The site called “Besa Mafia” provided a platform for connecting clients and contract killers. A contract killing cost between $5,000 and $200,000. Customers who did not want to provoke deaths could beat up a victim for $500 or have the car set on fire for $1,000.

The hacker was able to locate several Bitcoin secret folders, including chat histories between customers and website administrators. The hacker uploaded the finds to a public website. From now on it was suddenly clear to everyone: “Besa Mafia” was a fake.

The connection

The independent scientist, Chris Monteiro, also hacked the site. Among other things, he investigated the inflow of money to the site. White-Hat hackers see themselves as ethically and morally acting hackers. Since the term “hacker” has been increasingly negatively evaluated in recent years, a spin-off developed into the term “white-hat hacker”, who uses his skills for moral purposes.

Through the fake offers of the Besa Mafia at least 50 Bitcoins were collected (about 113,000 Euro at the current rate 05.07.2017). When further investigations were made, a message was found from a Besa Mafia administrator:

“This website is supposed to rip off criminals. We report them [the criminals] for two reasons: to prevent murder, which is good and fair; and to avoid theories that we’ll associate with murderers if we get caught.”

The Besa Mafia Leak eventually helped the police. After Amy Allwine was found dead, the police confiscated electronics, among other things. The pseudonym “dogdaygod” and the associated e-mail address “dogdaygod@hmamail.com” were found on a laptop. Investigators also found Bitcoin addresses and chat histories between the Besa Mafia and dogdaygod. The pseudonym could be identified without a doubt as Amy Allwine’s husband, Stephen Carl Allwine.

The goal
After the analysis of the data found and the restriction to Allwine’s e-mail address, a letter of complaint was found. Allwine is said to have paid between $10,000 and $15,000 for a hit man to shoot his wife and then set the house on fire.

The Besa Mafia administrator is said to have informed Mr. Allwine that the hit man was arrested by the local police authorities after he was reportedly seen stealing a vehicle. Later information could not give any conclusions as to whether this really happened.

On 24 March 2017, Stephen Allwine was convicted of murder. In addition to the electronic evidence, the drug Scopolamine was found in Mrs. Allwine’s body. The dose exceeded 45 times the normal dose, which usually leads to apathy. Several pieces of evidence indicated that Mr. Allwine had also purchased the drug through a Darknet marketplace.

6. November 2018

From Ripple, RippleNet, RippleLabs, xCurrent and crypto trader

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The following article is the continuation of our guest author’s scientific treatise and takes a close look at the Ripple ecosystem.

The biggest difference between Ripple and the other crypto currencies such as Bitcoin and Ethereum is that Ripple is issued by a single company – Ripple Labs. All ripples have already been produced – 100 billion of them. Ripple Labs owns 61.3 billion ripples. In early 2018, when Ripple recorded its highest ever price of 2.39 US dollars, Forbes drew the following picture:

Amazing development of the crypto trader

The founder and former crypto trader of Ripple Labs, Chris Larsen, owns 5.19 billion ripples and 17 percent of the shares in Ripple Labs. Together, this amounts to approximately $37.3 billion. Brad Garlinghouse, the current CEO of Ripple Labs and crypto trader, holds 6.3 percent of the shares in Ripple Labs and also owns Ripple. His assets are estimated at $9.5 billion.

Co-founder Jed McCaleb, who left the company in 2013, has 2 billion ripples. Another 5.3 billion ripples will be paid to him on a monthly basis. Of the 61.3 billion ripples owned by Ripple Labs, 55 billion ripples were transferred to a trust fund.

In mid-2017, Ripple Labs decided to transfer the 55 billion ripples to an electronic trust fund, which was implemented electronically by means of a so-called Smart Contract, in order to counter the growing concerns about the crypto currency Ripple. This fund releases 1 billion ripples a month to Ripple Labs for the next 4.5 years. Ripple Labs thus wanted to prevent Ripple from flooding the market, which would cause the price per Ripple to drop to a bottomless pit. Ripple Labs pays its employees with the ripples that become free. What remains is returned to the fund and distributed monthly.

The Ripple Blockchain is not limited to Ripple, but can also transfer other currencies (or other things such as airline miles).

Transaction fees

Transaction fees are always paid in Ripple. According to Ripple Labs, the transaction fees are automatically adjusted to the network load. This is to prevent individual players from sabotaging the network. Each transaction must specify how many ripples are connected to it. These ripples are then destroyed upon completion of the transaction. The transaction cost in January 2018 will be 0.00001 XRP.

Gateways
At Ripple, the transfer of funds is handled by so-called gateways. Gateways are companies or individuals who maintain Ripple’s block chain in a similar way to the miners at Bitcoin or Ethereum. So if, as shown in Figure 1, people want to exchange money in the form of Ripple or other currencies, they must first register with a gateway. This registration must not be anonymous, but requires compliance with banking regulations regarding identities. Therefore, money laundering with Ripple is not possible.

Figure 1: Gateways at Ripple identify their customers according to bank standards (i.e. not anonymously), transfer crypto currencies and other money, and maintain the block chain that Ripple calls RippleNet.

People can buy Ripple by exchanging it for real currencies. This affects the Ripple’s exchange rate. The more people buy Ripple, the higher the price. And the more gateways exist or the more stock exchanges use the Ripple Blockchain (alias RippleNet), the more stable and safe this technology becomes. So the theory.

In an interview with Bloomberg, Joseph Lubin, founder of a company focused on Ethereum, said he was amazed by the development of the Ripple (or XRP token). According to Lubin, Ripple is a useless digital currency. The only benefit is that Ripple Labs can use it to collect a lot of money to finance its projects. Since September 2016, Ripple Labs has sold about $185 million worth of Ripple Labs.

3. November 2018