By CCN Markets: An exposé published at TheVerge.com revealed at least one Facebook moderation center is akin to a third world sweatshop. This should come as no surprise given what we already know about Facebook’s company culture. Facebook Whistleblowers Step Forward Facebook outsources moderation services to Cognizant, a publicly-held $ 35 billion firm that apparently does not care about its work conditions. Three anonymous Facebook contractors breached their non-disclose agreements to inform TheVerge about the conditions. They include death of one worker via heart attack, filthy conditions at workstations and bathrooms, bedbug infestation, sexual harassment, verbal and physical altercations, frequent marijuana
I Underestimated Just How Many Subpoenas I Would Get
The number of subpoenas early crypto companies got from misinformed government agencies was “staggering,” says Bloq’s Steve Beauregard.
CoinDesk
Op Ed: How Many Wrongs Make a Wright?
In other articles and on social media, some people have called into question Craig Wright's character on a personal level and tried to establish patterns of fraudulent business practices not specifically related to the matter at hand. While my research led me to examine these allegations, I decided to narrow the focus of this particular article on evidence solely as it relates to Wright's claims that he is Satoshi Nakamoto, the creator of Bitcoin.
Craig S. Wright burst upon the Bitcoin scene in 2015 as a mysterious and controversial figure who claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
Why Big Crypto Firms Like ShapeShift & ConsenSys Laid Off Many Employees
This week, a major crypto exchange ShapeShift was forced to lay off 30 percent of the company’s workforce, letting go 37 employees. In a letter to the company and to the users on the platform, ShapeShift founder and CEO Erik Voorhees said that the crypto winter had left the firm with no other viable choice
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How SEC’s Paragon Ruling Could Send Many Crypto ICOs to Bankruptcy
The recent crackdown on two initial coin offerings (ICOs) Paragon and AirFox by the U.S. Securities and Exchange Commission (SEC) could lead to many blockchain and crypto projects declaring bankruptcy in the coming months. As CCN reported on November 16, Paragon and AirFox were ordered to pay a $ 350,000 fine to the U.S. SEC and
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HODL: Crypto is like 1990s Internet with ‘Few Use Cases’ and Many Scams
When it comes to explaining this never-ending bear market, positive affirmations seem to be the rationale du jour. Here’s another “HODL on FFS” theory that forecasts the eventual crypto-boom by drawing comparisons between the Dot-com era and the nascent blockchain industry.
Crypto = Dot-com Era?
Benedict Evans, a partner at Andreessen Horowitz, recently tweeted that “crypto today” is nearly identical to the internet in 1993 and 1999. Evans went on to explain that in the 90s the internet had “huge potential with few of the use cases invented yet.”
Such Borrow, Many Loan: Crypto Lender SALT Now Takes Dogecoin as Collateral
Cryptocurrency investors have another way to access capital without having to liquidate their portfolios. SALT Lending, which has issued more than $ 50 million in blockchain-backed loans, is capitalizing on the liquidity in dogecoin and has begun offering loans in USD collateralized by longtime crypto darling DOGE. Dogecoin’s profile has been on the rise in recent … Continued
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SEC subpoenas many more ICO-funded startups, pushes many earlier served firms to settle cases
The U.S. Securities and Exchange Commission (SEC) has returned to many of the Initial Coin Offering (ICO)-funded companies it sent initial information-seeking subpoenas to at the beginning of the year and subpoenaed several more – concentrating on the firms that didn’t properly ensure they sol…
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$80 Billion Banco Santander Uses Ripple For Payments, Will Many Banks Follow?
On October 2, Ripple Labs announced the integration of RippleNet into OnePay FX, a mobile application for cross-border payments developed by $ 80 billion banking giant Banco Santander. The strategic partnership between Ripple Labs and Santander was announced in March of 2018, but at the time, the intricacies of the collaborative work between the two companies … Continued
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Is Roger Ver A Fraudster? Many Still Think So
Bitcoin Jesus and Bitcoin Cash representative, Roger Ver, has been coined as a fraudster once again as a result of his and his websites move to try and deceive new investors into thinking Bitcoin Cash is the real Bitcoin.
Now, without getting too deep into the Bitcoin Core vs Bitcoin Cash argument (we’re not on anyone’s side here), we see two clear investment opportunities for new investors, one called ‘Bitcoin’ and one called ‘Bitcoin Cash’.
Continue reading Is Roger Ver A Fraudster? Many Still Think So at Crypto Daily™.
Bitcoin Price Analysis: How Many Days Can We Trade Sideways?
Decisions by the U.S. Securities and Exchange Commission (SEC) appear to have put a temporary damper on the current Bitcoin rally. Does the quick recovery to $ 8,250 mean the bull reversal is still intact?
Market Overview
BTC 00 dipped to $ 7,900 on the recent denial of the Winklevoss brothers Bitcoin ETF application, and the postponement of Direxion BTC ETF decision by the SEC, but it’s clear that current events were not the sole factor for this mild pullback. As Bitcoin rallied to new monthly highs it also became oversold but the king of cryptocurrencies recovered quicker than expected and now appears to be gearing up to retest the 200-day MA at $ 8,476.
New Research Finds Backdoor ‘Centralized Control’ in Many ICOs
Researchers from the University of Pennsylvania have found that a significant number of ICOs retained centralized control through undisclosed code.
Backdoor Centralization
The full paper, titled Coin-Operated Capitalism and published on July 18, is an “interdisciplinary effort spanning law, economics, and computer science,” according to University of Pennsylvania Law Professor David Hoffman.
The researchers looked at the top fifty ICOs which raised a total of $ 2.6 billion USD in revenue with the notional initial market cap of $ 3.8 billion. “We looked at the top fifty ICOs from 2017 taking into account every white paper, T&C and prospectus, every available piece of code, and every social media post we could get our hands on,” says Hoffman.
Study Shows Many ICO Protocols Fail to Match White Paper Promises
On July 19, a group of interdisciplinary researchers from the University of Pennsylvania, with guidance from the esteemed Penn Law professor David Hoffman, published an in-depth study of initial coin offerings (ICOs) that promise innovative concepts like autonomous governance and operate by the belief that ‘code is law’. However, most of the ICOs the group researched failed to match the original contractual promises and the so-called ‘trustless trust’ offered by these projects had very little merit.
Also read: Japan Tax Agency Says Individuals Earning $ 1,800+ in Crypto a Year Will Declare Tax
Ripple CEO: Cryptocurrency Will See ‘Many Winners,’ Lawsuit is Outrageous
Brad Garlinghouse — CEO of San Francisco-based real-time gross settlement system, currency exchange, and remittance network Ripple — believes Bitcoin is “not going to be the panacea that people once thought it would be,” and that his company’s in-house cryptocurrency, XRP, is superior. At the same time, however, he believes the cryptocurrency space will see many winners once the dust finally settles.
‘There will be many winners’
In an interview with CNBC earlier this week, Garlinghouse shared his opinions on Bitcoin and its supposed inability to solve a wide range of problems. Explained Ripple’s CEO at the Money 20/20 fintech conference in Amsterdam:
Russian Government Concerned Crypto Bill Inadequate in Many Ways
The Russian government has officially provided a response to the bill that seeks to outline the legal framework for cryptocurrencies. Many flaws and inadequacies were pointed out including unjustified restrictions on Russian residents and foreign investors.
Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales
Response to Crypto Bill
The Russian government published its official response on Saturday to the draft federal law no. 419059-7 “On Digital Financial Assets” which aims to regulate cryptocurrencies, crypto mining, as well as initial coin offerings (ICOs).
Many Brits Confuse Cryptocurrency with Something Else
According to a new poll, many British people have little or no idea what cryptocurrency really is. Terms like “blockchain” sound familiar, but often in completely different contexts. The authors of the study have compiled a “Techionary” to acquaint the public with some common acronyms and buzzwords.
Also read: Financial Professionals Bet On Rising Cryptos, UK Report
Crypts and Toilets
The survey has revealed that a great number of British citizens may have an entirely wrong idea about basic crypto-related terms. It shows that despite the growing popularity of cryptocurrencies, some Brits may still be completely unaware of their existence.
Op Ed: The Many Faces of Sharding for Blockchain Scalability
Any programmer who has ever sat down to build a DApp at one point has had to think about the limits of current public blockchains, the most important and obvious one being their limited throughput, i.e., the number of transactions processed per second. In order to run a DApp that can handle real-world throughput requirements, blockchains must become scalable.
One answer to blockchain scaling is sharding. Sharding promises to increase the throughput by changing the way blocks get validated by the network. The key feature of sharding that makes it unique among all (on-chain) scaling solutions is horizontal scaling, i.e., the throughput increases as the mining network expands. This particular characteristic of sharding may make it the ideal fuel to spur rapid adoption of blockchain technology.
Quebec Giving a Cold Shoulder to Many Bitcoin Mining Operators
Operators looking to move their Bitcoin mining business to Quebec may be out of luck as the Canadian province is giving a cold shoulder to many of them.
The fact that a number of countries, such as China, are cracking down on cryptocurrency mining has led to many operators looking for greener pastures elsewhere. One such pasture is located in Canada, the province of Quebec to be precise, which features cheap power for crypto mining. However, the region is giving a cold shoulder to many looking to relocate their Bitcoin mining operations there.
