The Co-founder of bitcoin.org and bitcointalk.org Stated that Bitcoin’s Security Under Big Threat

According to Cobra, co-founder bitcoin.org and bitcointalk.org, most of the hash (computing power) belongs to one company, or even to one person  Jihan Wu, the head of Bitmain. For this reason, the decentralized Bitcoin system is already broken, and if the cryptocurrency does not give up Proof-Of-Work, it can be completely destroyed. Cobra believes that the right way out will be the transition to the hybrid algorithm of the Proof-Of-Work consensus, most likely with some properties of Proof-Of-Stake.

Again, according to Cobra, since the security of the Bitcoin network is almost entirely dependent on Bitmain, it does not even make sense to consider the entry of other players on the market, as the company is ahead of all its competitors for many years, and taking into account the profit for 2017 of $ 4 billion. Bitmain will grow even stronger.

Cobra also accused Jihan Wu that his company conducts political manipulation and, using control of the hash, supports the Bitcoin Cash’s hard drive, which puts the Bitcoin network in jeopardy.

“The miners are in a position where the Chinese government can take over their equipment at any time; something they will no doubt do if Bitcoin grows enough to allow them to use their control of the hashrate to push a Chinese geopolitical agenda” — he stressed.

The co-founder of bitcoin.org and bitcointalk.org emphasizes that all problems come from miners, so the community should get rid of them.

“It’s the miners that have supported every hostile attempt to take over the network. It’s the miners who block new features for their strange political agenda. It’s the miners who lend support to altcoins that undermine Bitcoin. We need to get rid of them while we still can, they’re no longer a useful part of our community. Hard forks are scary, but let’s not be afraid to at least try to build consensus when we can all see the problem right in front of us”.

Jihan Wu spoke out in favor of mining, noting that if the idea of ​​Cobra was implemented, Bitcoin’s market share would drop to 10%:

Cobra did not agree with Wu’s opinion, remaining in the strong belief that the market would react, on the contrary, very positively, on a more decentralized Bitcoin.

In the end, Jihan Wu wrote:

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The Schoolboy Bitcoin Millionaire Believes that Bitcoin Is Pretty Much Dead

As it has been reported by the Marketwatch, Erik Finman, a teenager who became a millionaire back in the times when Bitcoin cost 20 thousand dollars, gave a very negative outlook for BTC in the future.

Bitcoin is dead, it’s too fragmented, there’s tons of infighting I just don’t think it will last. It may have a bull market or two left in it, but long-term, its dead,” said Finman.

As for Litecoin, here the teenager is sure that this coin “has been dead for a while”. He also mentioned those coins that, in his opinion, still have a chance at the market, such as Ethereum, ZCash and, surprisingly, Bitcoin Cash.

Although Eric is still very young and not that experienced, the fact that he owned 4 million dollars in BTC in 2011 make his predictions quite reasonable.

We remind you:

How Is a Schoolboy Millionaire Doing: A Story About the Youngest Bitcoin Richer

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Blockchain Specialists: Who Are They and How Much Do They Earn?

Relatively new blockchain technology is developing quite actively in recent years, which inevitably leads to increase of jobs number in this industry. Considering that, the infrastructure is still not very developed well in this area, it can be assumed that the trend of increased demand for qualified personnel will still remain for many years. In this article we will talk about blockchain specialists, find out who employers are looking for, what average salaries are offered, and in the end we will talk about where to learn this craft.

1. Briefly about blockchain technology

Let us briefly remind what blockchain is, and why many people predict a great future for it? So, in simple words, blockchain is an open (that is, public) registry of data, which is stored in separate blocks and has a chain structure. Each subsequent block stores the information about the previous one. For example, let`s take a usual book, which is divided into separate pages, so after 45, there 46, 47 should go, etc. Attempts to change or delete a block, which has already been entered into blockchain, will immediately be noticed by the network.

The increased security of Blockchain is backed up by data storage. The fact is, that the entire data registry has hundreds of thousands copies (depends on number of miners in network), which are located throughout the world.

2. What experts are now in demand in the industry and how much do they earn?

When it comes to blockchain specialists, most people imagine a highly qualified programmer who knows all the programming languages, Morse code, and the depths of cryptography. But in reality, to be a fairly successful developer, you need to know:

  • basics of programming;
  • C ++ language ideally, but this is optional, Python, Java, Golang, etc. will also work.

Having these knowledge and at least minimal experience in programming, one can become a blockchain developer without any particular problems. The wage, in this case, will directly depend on experience, depth of knowledge and a particular company. In Europe and the United States experienced developers can get to $175 thousand per year. But it’s not necessary to be a programmer to work in the blockchain industry. This is not a complete list of vacancies, this young market needs:

  • Investment Director. It is a key position in any crypto startup, because its main task is to search and work with potential investors. This is a quite difficult job, because now many people are still wary of cryptocurrencies and blockchain as a whole, and they are not in a hurry to invest their savings. The salary depends on the amount of raised funds, from which a certain percentage is given to an investment director.
  • Marketer, PR manager. As Thomas Macaulay said: “Nothing Except The Mint Can Make Money Without Advertising”. This profession is very relevant absolutely in any field and the blockchain industry is no exception. To succeed in this position, the specialist is obliged to speak several foreign languages, to have experience in international sales. Salaries of the specialists depend on the scope of a project, as well as a marketing record of a marketer.
  • Bounty manager. The rapid development of the ICO market has led to emergence of brand new professions. This position involves conduction of all processes, interaction and verification of performers for tasks implementation. Salary of these specialists can hardly be called high, it rarely exceeds $1,000.
  • Crypto analyst. This profession implies the deep knowledges of the cryptocurrency market. An analyst should be able to carry out a fundamental analysis of any coin, and on the basis of this data make his or her own predictions of investments growth. This is one of the most promising areas in the blockchain industry, since the analyst’s wages have no limit. Large investors will be happy to pay a certain percentage of commission to a such specialist for a good tip.
  • Lawyer. There is literally “a long row to hoe” in the blockchain field for these professionals. The fact is that legislative base here is still at a very early stage of its development and there is still a lot of work to be done in this direction.

We want to remind you:

Facebook Is Once Again Looking for Blockchain Specialists

3. Where to study for a blockchain specialist?

Higher-education institutions are already training specialists in this direction. A number of leading universities offer introductory courses into blockchain, cryptocurrency, etc.

To master any of the above mentioned professions of the future, you can take online courses on the Internet, the number of which is sufficient now. But when choosing a training program you should be extremely careful and before entrusting your money and time to some “blockchain guru”, read the information about him carefully.

4. Conclusion

The crypto industry differs with a rather rapid pace of development. To work in this area, you must always keep “your eyes open” and be able to adapt quickly to a new circumstances. Every year new professions appear, which offer new opportunities and high wages.

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Chinese Bomb Bitcoin: Hong Kong Business Person Was Blackmailed Demanding $20 000 in Bitcoin

According to the report of South China Morning Post, Hong Kong businessman was threatened with blowing off the building where his company is unless he sends $20 000 in Bitcoin. The scheme was the same as we reported earlier:

Bomb Bitcoin: A New Scammers’ Scheme of Getting Cryptocurrency

The victim who received a blackmail is the CEO of Network Box, Michael Gazeley. He commented on the situation, stating:

“This looks like the third wave of blackmail emails plaguing the world in the past few years… I have never seen something like this, which sounds like cyberterrorism, in my 20-year career in cybersecurity.”

In addition, he claimed at first he was shocked, then he noticed that there were some grammar mistakes which helped him to understand that the email was not worth believing. It was quite clear that the main target was individual rather than bombing an office. He did not report to the police of Hong Kong as considers that email not credible.

Charles Mok, the spokesman of the IT sector in the Legislative Council of Hong Kong, was abashed by the quality of threats.

He said: “Scammers need to be smarter, they can’t just say in a spam email, ‘You need to pay me or I blow up your office’.”

We remind you

The Most High-Profile Scam Projects of 2018

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The True Form of Bitcoin and Forecast for the Future

Now it is hard to find a person who has never heard of Bitcoin’s existence. But the vast majority of people do not fully understand what it is and how it really looks like. In this article we will discuss the true appearance of Bitcoin, and also find out whether BTC can have physical form.

1. What does Bitcoin look like?

We briefly remind that Bitcoin is the very first cryptocurrency in the world, it was launched in January 2009. This is the first decentralized payment system in the world, in which interaction takes place exclusively between users, and does not require regulation by intermediaries. It works with the help of blockchain technology, which guarantees security of transactions.

The Bitcoin network is a chain of blocks, which store information about every coin transfer in the entire history. Each block has timestamps as well as encrypted information about the previous block. This data is stored on every miner`s computer all at the same time, thus it is impossible to change anything in the registry. So, basically, Bitcoin is just a record in blockchain.

2. Is there a Bitcoin in physical form

It is very difficult for the vast majority of people to imagine something that does not exist in the real world. Some enthusiasts have begun issuing physical Bitcoins for this reason. What is it? The actual Bitcoin coins appear in the form of physical wallets. They are intended for safe storage of coins, as well as for offline payments. There is a wallet`s address that can be found on a coin, which is publicly available, as well as a private key, which is hidden by special hologram.

Source: https://www.coindesk.com/

The first physical coins were issued in 2011, produced by Mike Caldwell. The circulation was 3500 pieces, it is worth saying that the author mined those digital assets by himself. These coins were sold out very quickly, so in 2013, Caldwell released the next generation of physical bitcoins, which had new design.

3. What are the prospects for Bitcoin?

The first digital coin in history keeps leading position for almost 10 years and remains a powerhouse for the entire industry. The very first exchange rate of the coin was 1 dollar for 1.309.03 BTC. We remind that the coin’s rate in December last year was above $20,000, and then started falling down. Bitcoin costs about $3,300 now (according to CoinMarketCap).

No doubts, it is the biggest asset value increase in the history of mankind. Many cryptocurrency experts predict a great future for Bitcoin. Coin emission is limited, mining complexity increases every year, and users base is growing. All these factors will certainly have a positive effect on the cost of the asset in the future.

Bitcoin has one big problem that slows down its development – a small bandwidth. The network is able to perform only 7 operations per second. This It means that the more people will use the system, the longer it will take to wait for transactions confirmation takes to wait for. Sometimes it can take hours or even days.

4. Conclusion

Many people wonder: How does 1 Bitcoin looks like?” In general, BTC does not exist in physical form, it is just a set of data stored in the blockchain. But the enthusiasts created physical analogs of coins, mostly for collectors. They are physical wallets, made in the form of coins. Bitcoin`s future is not fully defined yet, but the majority of experts believe that the peak of its popularity is still ahead.

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Google’s AI Stated Bitcoin Is “A Collapsed Economic Bubble”

If you still do not understand what is happening with the cryptocurrency market, in particular with the prices of all digital coins, Google’s AI gave a kind of interesting answer. By entering the search request “Bitcoin”, you may see the following card which defined Bitcoin as “a collapsed economic bubble”.


Source: Finance Magnates

In a couple of hours the definition was edited, claiming: “Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.”

The algorithm which aggregates the information displays the useful cards in the sidebar automatically. However, such a sentence clearly shows that the company’s AI system considers the bitcoin market as an economic bubble.

The CEO of Google Sundar Pichai explained that Google’s AI looks at every keyword based on “things like relevance, freshness, popularity and how other people are using it”.

Looking from this point of view, it means that the real reason why such a card displayed is that people downgraded Bitcoin and lost any hope in it.

We remind you

The Main Myths Connected with Bitcoin: A Pyramid, A Bubble or A Valuable Asset?

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Bomb Bitcoin: A New Scammers’ Scheme of Getting Cryptocurrency

Scammers are becoming more and more resourceful in making up new ways of obtaining cryptocurrency, in particular Bitcoin. This scheme is quite simple: the criminal sends an email where it is pointed out that if a victim does not send $20,000 in Bitcoin within a specified time period, then the former denotes a bomb inside the building where the victim’s company is. The culprit also sends the Bitcoin addresses, in the following email, such an address does not exist.

It is just impossible not to respond to such threats due to some moments in history, so the whole offices are now being evacuated as this scam spreads.

Here you can see the full text of the email:

“My man carried a bomb (Hexogen) into the building where your company is located. It is constructed under my direction. It can be hidden anywhere because of its small size, it is not able to damage the supporting building structure, but in the case of its detonation you will get many victims.

My mercenary keeps the building under the control. If he notices any unusual behavior or emergency he will blow up the bomb.

I can withdraw my mercenary if you pay. You pay me 20.000 $ in Bitcoin and the bomb will not explode, but don’t try to cheat -I warrant you that I will withdraw my mercenary only after 3 confirmations in blockchain network.

Here is my Bitcoin address : 1GHKDgQX7hqTM7mMmiiUvgihGMHtvNJqTv

You have to solve problems with the transfer by the end of the workday. If you are late with the money explosive will explode.

This is just a business, if you don’t send me the money and the explosive device detonates, other commercial enterprises will transfer me more money, because this isnt a one-time action.

I wont visit this email. I check my Bitcoin wallet every 35 min and after seeing the money I will order my recruited person to get away.

If the explosive device explodes and the authorities notice this letter:

We are not terrorists and dont assume any responsibility for explosions in other buildings.”

The New York Police Department (NYPD) reacted to such emails and made an official statement on Twitter, stating that such threats are considered to be “not credible”:

The FBI has also tweeted calling for public’s vigilance:

Our editorial board strongly urges not to believe such threats in order not to become a victim of the heinous scams. If you are hesitating if this email is real or not, please, call the police. We remind you

The Most High-Profile Scam Projects of 2018

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