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Cryptocurrencies

Torrent Website Offers Users Rewards for Cryptocurrency Mining

A torrent downloads website has started offering visitors the option to enable a cryptocurrency mining feature and earn incentives for the platform, according to a TorrentFreak report.

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A torrent downloads website has started offering visitors the option to enable a cryptocurrency mining feature and earn incentives for the platform, according to a TorrentFreak report.

The news indicates a possible shift in tactics by torrent websites, after a number of popular services have been found to have installed hidden cryptocurrency mining code that harnesses visitors’ computer processing power without seeking permission.

Some, such as The Pirate Bay, have notably failed to inform site visitors that their CPU was being used by the miner, a strategy that led domain supplier Cloudflare to classify the undisclosed process as “malware” and remove the domains of torrent site ProxyBunker for also hosting mining code.

TorrentFreak added that the unnamed “private tracker,” an invite-only torrent site, has not only made this feature optional, but it also incentivizes members to let their CPUs be used for cryptocurrency mining by offering “upload credit” in return.

A resource that members require in order to download content, upload credit must usually either be purchased or generated from – as the name suggests – uploading new content. The new system allows visitors to minemonero and then trade it in for the credits.

The tech news source further cites an increasing number of torrent websites now using more transparent models that allow visitors both a choice in the cryptocurrency mined and a way to track the process.

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Cryptocurrencies

Bitcoin Won’t Replace Gold… Here’s Why You Should Still Own It

Bitcoin is frequently compared to gold. But it’s not an either/or proposition… And I’ll tell you why.

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Bitcoin is frequently compared to gold. But it’s not an either/or proposition… And I’ll tell you why.

Gold and bitcoin are the only two widely distributed, decentralized methods of exchanging value as currency. They have no central authority issuance, unlike U.S. dollars or any other fiat currency.

Likewise, neither bitcoin nor gold can just be “printed” at the push of a button by an anxious central banker. You have to either earn your gold by mining it, or you can pay cash for it. The same is true of bitcoin (although bitcoin miners use computers instead of picks and shovels).

But there’s one big difference between the two…

Gold is the very opposite of new technology.

Gold is a physical, tangible, and real asset. You can pick it up and feel its satisfying weight in your hand. It can’t be altered. Gold is gold. Once I own it, that’s it. I don’t need to rely on a functioning Internet. I don’t need a computer. It has pure, tangible value.

And gold has unquestionably been money for thousands of years. A gold coin can still sit in my pocket, even while I might be fending off mobs, zombies, hordes of cockroaches, or a nuclear winter.

On the other hand, bitcoin is nothing more than a code that exists somewhere on the Internet. You can’t pick it up and put it in your pocket. If you lose that code… you lose your bitcoin.

Not only that, but unlike gold, bitcoin isn’t easy to explain to the average guy on the street. The fundamentals of blockchain, and the distributed ledger systems upon which bitcoin is built, are not straightforward. It usually takes time and effort for people to understand just how much of an innovation bitcoin really is as a “trustless” mechanism for exchanging value.

(By “trustless,” I mean we don’t need to trust an intermediary to settle our transaction – we can exchange value directly and securely with one another, thanks to blockchain technology.)

Despite its benefits, most people simply can’t comprehend bitcoin and blockchain.

Gold, however, is easy to understand. Its value has stood the test of time. As a friend of mine once put it: “I prefer a currency that has survived 5,000-plus years of wars, empires, the rise and fall of countries, cold spells, hot spells, and has been universally accepted in every country of the world.”

I can’t argue with that.

No matter how big bitcoin gets, it will never be gold.

If you were to ask me which I think is more likely to be around a hundred years from now, my answer is gold… every time. Nothing has usurped it for millennia as a globally accepted medium of exchange or store of value, and I don’t think bitcoin will do so either.

But… you should still own bitcoin. Let me tell you why…

Bitcoin is the ultimate in freedom of asset ownership. The government can’t confiscate it, as the U.S. government did with gold under Executive Order 6102 in 1933.

You can cross national borders with bitcoin in your possession on a USB thumb drive… or, if you can memorize your private key, with no physical object in your possession of any kind.

Whether your bitcoin is worth $100 or $100 million, it makes no difference to how you move and store it (which is clearly not the same with gold). You don’t need a trusted middleman to send it. And you can move it around the world, securely, in a matter of minutes.

And if you’re looking for gains… bitcoin is a lot likelier than gold to be up 1,000% three years from now. Even though its price has soared over the past few years, it’s still nowhere near mainstream yet.

So gold and bitcoin both deserve a place in your portfolio.

Gold has stood the test of time and is a medium of storing value. Bitcoin’s time, on the other hand, is just beginning. Blockchain technology is the future, and when you have an opportunity to buy the future and tuck it away, you should take it.

Good investing,

Tama Churchouse

Editor’s note: Tama’s little-known bitcoin technique could potentially make you 10-50 times your money… And this week, he’s sitting down with Porter Stansberry – live from Baltimore – to reveal how it works. You’ll also hear unique predictions about bitcoin and the crypto markets. This event is completely free to attend – just tune in Wednesday at 8 p.m. Eastern time. Click here to reserve your spot.

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This is Why Blockchain Makes Online Retail Better

The cryptocurrency trend is red-hot.

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The cryptocurrency trend is red-hot.

In fact, many are hailing cryptocurrencies as the future of money.

But as I’ve pointed out before, the underlying technology behind the cryptocurrency trend is the enabler… and that’s going to change everything.

Today, I want to talk about a new way the blockchain and crypto trend is impacting an industry you’ve probably never considered — online retail.

In a way, this new trend is looking similar to when retailers in the 1990s jumped on the online marketplace trend. This changed the retail landscape dramatically and I foresee the same impact with blockchain.

In fact, we’re already starting to see the shift.

Say Goodbye to Counterfeit Goods

Have you ever won an intense online bidding war only to receive your coveted order and find out upon receipt that the item you purchased is a fake?

If you haven’t, you’re lucky. Almost half a trillion dollars in counterfeit goods are delivered to homes and businesses each year.

Counterfeit goods also plague retailers. They erode sales, brand trust and customer loyalty.

But using blockchain technology, retailers can now provide customers with indisputable proof of authenticity at every step in the supply chain.

The high-end sneaker company Greats, for example, uses blockchain and 3-D-printed smart tags, scannable by a smartphone, to prove product authenticity.

No More Stolen or Lost Packages

Counterfeit goods aren’t the only problem blockchain tech is tackling in online retail.

We’ve all had a package lost or stolen at some point. It’s a frustrating inevitability of buying online.

It’s even worse for businesses. When orders are lost or stolen, a business could fail, costing people jobs and their livelihoods.

With blockchain tech, retailers can use a decentralized network that connects all parties in a supply chain, including you.

By using blockchain, a retailer can register their product on an encrypted digital ledger, meaning stolen merchandise can be identified and tracked anywhere at any time.

This blockchain-based solution has already been used by retailers in several markets, including pharmaceuticals, luxury items, diamonds and electronics.

But blockchain goes one step further, too. By offering peer-to-peer networks instead of the linear, checkpoint-based tracking today’s couriers use, problems with shipments get identified much faster and resolved automatically.

For example, if Amazon implemented blockchain into their supply chain, they could instantly communicate digital documents like purchase orders, receipts and shipping manifests directly to their customers.

If something went awry, Amazon would be alerted immediately, with resolutions following swiftly. This would streamline the delivery process, eliminating the need for customers to jump through hoops when a package doesn’t arrive on time or at all.

Digital Wallets For All Your Warranties

Consumer protection is another application that will use blockchain platforms to better the customer experience.

If you’ve ever had an expensive purchase go belly-up well before its time, you know the importance of having your warranty handy.

But honestly, who keeps track of all that paper?

A family of four would need a full file cabinet just to keep track!

That’s where blockchain comes into play by moving product warranties onto the cloud via blockchain.

This eliminates the need for the clutter paper warranties create, allowing customers to maintain a virtual warranty wallet. This gives you access to all your product warranties anywhere, anytime.

On the flip side, this also allows retailers to update warranty info, saving them a ton in administrative costs.

The marriage between online retail and blockchain is a match made in heaven with endless possible applications.

Right now, we’re just scratching the surface of how blockchain could fundamentally change online retail for the better.

It’s becoming clear that blockchain can revolutionize e-commerce in amazing ways.

Potentially solving the woes you face when shopping online.

For Tomorrow’s Trends Today,

Ray Blanco
for The Daily Reckoning

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Cryptocurrencies

Assange Thanks US Govt For His 50,000% Gain On Bitcoin As Russia Unveils ‘CryptoRuble’

My deepest thanks to the US government, Senator McCain and Senator Lieberman for pushing Visa, MasterCard, Payal, AmEx, Mooneybookers, et al, into erecting an illegal banking blockade against @WikiLeaks starting in 2010. It caused us to invest in Bitcoin — with > 50000% return.

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Once again the unintended consequences of government intervention are exposed

In 2010 – following the release of sensitive government documents related to wars in Afghanistan and Iraq – John McCain and Joe Lieberman led a bipartisan attempt to cut off WikiLeaks funding by forcing ‘traditional’ payment systems to block them.

image courtesy of CoinTelegraph

7 years later and the price of Bitcoin has… risen…50,000%!

And Julian Assange chose yesterday to thank the US government and its corporatocracy for his forced investment…

As CoinTelegraph concludes, Wikileaks has been on the forefront of revealing government corruption, and Assange has lived as a fugitive in the Ecuadorian Embassy in London since 2012. With all the antigovernment rhetoric, it’s no wonder Assange is not friendly with pro-government fiat currencies. Wikileaks and its founder represent the sort of non-governmental control that Bitcoin is founded upon.

And while governments around the world play ‘pass the hot potato’ with their regulatory crackdowns on cryptocurrencies, it appears – after denouncing Bitcoin earlier in the week – that Russia has accepted the inevitability of digital currencies… and created its own.

As CoinTelegraph reports, Russian President Vladimir Putin has officially stated that Russia will issue its own ‘CryptoRuble’ at a closed door meeting in Moscow, according to local news sources.

The news broke through Minister of Communications Nikolay Nikiforov.

According to the official, the state issued cryptocurrency cannot be mined and will be issued and controlled and maintained only by the authorities.

The CryptoRubles can be exchanged for regular Rubles at any time, though if the holder is unable to explain where the CryptoRubles came from, a 13 percent tax will be levied.

The same tax will be applied to any earned difference between the price of the purchase of the token and the price of the sale. Nikiforov said:

“I confidently declare that we run CryptoRuble for one simple reason: if we do not, then after 2 months our neighbors in the EurAsEC will.”

While the announcement means that Russia will enter the cryptocurrency world, it is in no way an affirmation or legalization of Bitcoin or any other decentralized cryptocurrency. On the contrary, Putin quite recently called for a complete ban on all cryptocurrencies within Russia. The statement from Putin seemed apparently to contradict the earlier comments from other ministers who seemed pro-crypto, but only with regulations, as well as Putin’s recent meetings with Buterin and others.

Now, with the issuance of the CryptoRuble, the apparent contradiction has been made clear.

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