Craig Wright Already Has Key to Encrypted ‘Satoshi’ File — Kleiman

Ira Kleiman’s legal team claims Craig Wright already has access to the encrypted file at the heart of the case, citing the movement of $1.6 million BTC as evidence. Ira Kleiman’s legal team claims Dr Craig Wright already has the ability to open the encrypted file believed to contain the private keys to more than 820,000 Bitcoin.  The Kleiman estate is suing Wright over the Bitcoin he allegedly mined in a partnership with the late Dave Kleiman. Wright says there was no partnership. According to court documents filed May 21,…

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Gox Rising Offers $800 per Bitcoin Claim to Buy out Mt Gox Creditors

Gox Rising has offered to buy out creditor claims from the collapsed cryptocurrency exchange Mt. Gox. The Brock Pierce-led outfit will pay $800 per bitcoin claim, either in BTC or cash, to creditors who are unwilling to wait for the finalization of the ongoing civil litigation. “Our payment would be put in escrow and made within 10 business days of the claim transfer confirmation,” the company announced in a statement Thursday. “We recognize that some investors may not wish to wait any longer to see what the final resolution and…

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Times Square Billboard Calls for Release of Silk Road Founder

A billboard demanding for the release of Silk Road founder Ross Ulbricht will reside in Times Square for several months. The ‘Free Ross’ movement has hired a billboard in New York’s Times Square as part of its campaign for the release of the Silk Road darknet market founder Ross Ulbricht. According to the Twitter account ‘Clemency for Ross’ the billboard will display the message and image for several months. The account emphasized that the billboard was funded by “a generous supporter” and not from donations to the site. Ulbricht is…

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Myanmar Central Bank Claims Crypto is Banned, Users Disagree

Myanmar’s central bank claims crypto traders can be fined or imprisoned, but there are doubts about whether legislation backs this up. The Central Bank of Myanmar (CBM) announced that it does not recognize cryptocurrencies as an official currency and anyone caught trading digital assets can be imprisoned or fined. But local crypto enthusiasts dispute whether the pronouncements have any force in law.  Reported by the Myanmar Times, the country’s central bank issued an announcement on May 15 stating that financial institutions are not allowed to accept or facilitate transactions using…

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Several Chinese Media Outlets Setup a “Blockchain-Powered News” Department

A group of media outlets from China established an alliance to operate a news department based on blockchain technology. A group of 12 Chinese media organizations conformed by television stations, local newspapers, radio stations, and web media allied to create a “blockchain-powered news department” on May 21. According to the report published by China Email, the group is made up of media companies from all over the country. They use solutions based on 4.0 and advantage of blockchain technology in favor of the distribution and exchange of content through the…

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As Bitcoin Halving Dust Settles, Network Awakens to Costly New Reality

Now that the Bitcoin block reward has been halved, BTC’s hash rate and transaction fees are feeling the impact. Things haven’t quite been the same since the Bitcoin (BTC) halving. A substantial number of miners have pulled the plug on their equipment due to the halved reward. Consequently, transaction fees are now considerably higher, the hash rate has shed around 25%–40%, and new blocks are generated at remarkably low speed. So, what can be done to prepare for this new post-halving reality, or will things return back to normal in…

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Bitcoin Futures, Options, and Open Interest: Crypto Derivatives Break Records After the Halving 

Since the market rout on March 12, otherwise known as ‘Black Thursday,’ bitcoin futures and options contracts have seen significant demand. On May 14, CME Group saw the total number of outstanding derivatives contracts (open interest) touch a high of $142 million. Four days later, CME broke records again. Data from the researchers at Skew.com detailed that CME’s regulated bitcoin options open interest is up 10x this month. Deribit’s Massive Options Volumes and CME Group’s Regulated Bitcoin Derivatives Markets Touch New Highs Ever since the halving on May 11, there’s…

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Cardano is Working on a Microchip That Would Give Crypto a Cash-like Experience

Cardano is working on a crypto-native microchip that would enable crypto transitions without the internet access, potentially delivering fiat-like experience to the hundreds of millions around the world. In a recent Cointelegraph interview, Charles Hoskinson elaborated on the crypto-native chip that IOHK is working at its blockchain lab at the University of Wyoming that may lead to many groundbreaking use cases, including a cash-like experience for cryptocurrency. Crypto-native microchip It all began when IOHK, the company charged with the development of Cardano (ADA), began exploring supply chain use cases and…

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UAE Startup Relies on Blockchain Technology to Flatten COVID-19 Curve

Blockchain-based solution may help to contain the growing cases of COVID-19 across the UAE. UAE-based startup incubator, in5, is helping to design blockchain-based methods to contain the COVID-19 pandemic in the country and thus flatten the curve. According to a report published on May 20, Liber Health, supported by in5, is one of the platforms used for patient identification supported by blockchain technology. They are creating a contactless system to recognize the biometric ID data and analyze suspected COVID-19 symptoms. Liber Health hopes that by tracking patients that have been…

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How the Lightning Network Will Grow Following Bitcoin’s Third Halving

The Lightning Network, Bitcoin’s second layer solution for faster and more efficient payments, was integral to the ecosystem’s third epoch — with a number of Lightning-focused projects iterating and expanding upon the technology to establish it as the most promising protocol built upon Bitcoin. Further Reading: What Is the Lightning Network?  It became clear during Bitcoin Magazine’s BitcoinHalving.com live stream that this development is only poised to ramp up following Bitcoin’s third-ever subsidy halving. As leaders from the space’s Lightning-focused projects took the stage, they elaborated on the progress we’ve already…

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