Ditcoin / Bitcoin news board

Africa’s First Privacy Based Cryptocurrency

Since the inception of cryptocurrencies in 2009, the crypto space had grown and experienced a lot of changes with coins like BITCOIN, ETHEREUM and DASH etc. hitting great All-Time Highs (ATH’s). Most of these cryptocurrencies seek to enhance privacy and protect the identity of the owner of each transaction. This was part of the disruption the new peer-to-peer payment system was bringing to the traditional system.

Anonymity of transactions is crucial for users and Bitcoin, the first and leading digital currency affords its users anonymous payments and transactions. However, the underlying blockchain of the digital currency functions as a public ledger, recording all the transactions but retaining that crucial anonymity. But some persons have wondered to what extent it retains its privacy.

Can We Have Some Privacy?

As users of cryptocurrency search for some sort of privacy in their transactions and assets, African cryptocurrency users also seek the same. Most cryptocurrencies that have claimed to be created for the African situation have however been a fallacy. These cryptocurries instead of solving the problem have milked dry the African man who is eager to move out of poverty. This scenario is similar to the one in the Fiat world where every day it is shared in the newspapers and on Tv’s the number of Aids that are sent to Africa yet African is still wallowing in poverty.

Then DITCOIN came into the space not just to solve the privacy problem alone but also to be a peer-to-peer cryptocurrency designed for the African situation and the world beyond.

WHAT IS DITCOIN?

DITCOIN is a coin created on the Monero blockchain. Before we go on let’s get to know what monero blockchain is about, and why monero?

Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses on privacy and decentralization that runs on Windows, macOS, Linux, Android, iOS, and FreeBSD. Monero uses a public ledger to record transactions while new units are created through a process called mining. Monero aims to improve on existing cryptocurrency design by obscuring sender, recipient and amount of every transaction made as well as making the mining process more egalitarian.

DitCoin has been described by Pundits and CRYPTO Enthusiasts as being the “first Business-driven CryptoCurrency” that is based on “Asset and Community Building”. It is not like all of the other tokens that are available for purchase these days, due to the simple fact that they come with a 100% guarantee of being untraceable when used in a monetary transaction. Ditcoin can be used globally and comes at an extremely reduced cost of transfer on both the B2B and P2P networks.

What Makes DitCoin Unique?

(i) Uses a Different Functional Approach:
In order to stand out from the hundreds of other currencies that are currently floating around in the crypto market, Ditcoin features the added benefit of being untracable on any network. This ensures security and gives us added peace of mind.

(ii) Driven by Markets:
The final goal of Ditcoin is to penetrate the global market in a way such that it can be used for shopping, making payments and other online/offline transactions.

(iii) Security:
As with all good crypto services, Ditcoin is based on a decentralized network that allows for secure transactions and transfers.

What Is The DitPay Module?

The DitPay module can be envisioned as the world’s first “CryptoCurrency Powered e-commerce & Payment Processor”. It has been designed in a way that it can be expanded and scaled to a global level, thereby making payments using DitCoins seamless.

In addition to this, the module also gives us a platform to change the way e-commerce is done by making everything more transparent and secure. Other aspects of the DitPay module include:

(i) Serves as a Bridge:
In order to promote the integration of the Ditcoin currency with regular e-commerce platforms, the DitPay module comes with features that make integration, and transactions seamless.

(ii) Uses P2P Technology:
Peer-to-peer exchange has made a big comeback after its boom in the early 2000’s. P2P exchanges guarantee fast, secure, flexible deal-making capabilities into the hand of the user.

(iii) Efficient:
As stated earlier, DitCoin has been designed to serve as a secure means of monetary transfer. It is very cost effective and time-saving, and it remains virtually untraceable to any 3rd party viewers.

(iv) External Exchanges:

Ditcoin (DIT) is presently listed on tradesatoshi.com and Coinexmarket.io

Ditcion will also be listed on more exchanges as the time goes by.

*Stay with Ditcoin and Love Ditcoin.*

Website: https://ditcoin.io

GitHub: https://github.com/ditcoin/ditcoin-core

Chain explorer: https://chain.ditcoin.io

Telegram community/support group: https://t.me/ditcoin_support

Telegram Channel: t.me/ditcoin

Youtube: https://youtube.com/ditcoin

Facebook page: https://facebook.com/DitCoin

Bitcointalk: https://bitcointalk.org/index.php?topic=2357482

Internal trading platform: https://ditcoin.trade

Whitepaper: https://ditcoin.io/docs/whitepaper.pdf

Ditcoin supply: ~3.7 Million DIT per Year @15DIT/Block reward

Ditcoin Total supply: 37,000,000.00 DIT

Block reward: 15 DIT/Bloc for 720 blocs generated daily (based on current emission)

Trading symbol: DIT

DITCOIN has been referred to as one of the coins to watch out for in this year, as the coin has moved from 100sats to 7000sats in just the last 2 weeks. Many have called it a shill yet it is to be noted that the coin has a massive projects that it is about to be made known to the public. It is to be noted that DITCOIN is an AFRICAN coin made by Africans to solve the African problem but can be used anywhere in the world.

Moldova with New Exchange 10 Cryptos and 8 Currencies

Drachmae Market will be trading 10 digital coins initially, including leading cryptocurrencies like Bitcoin Core (BTC), Bitcoin Cash (BCH), and Ethereum (ETH), as well as a couple of Moldovan tokens like Zozo coin and Drachmae’s own DTMI token. The trading platform also supports transactions of eight fiat currencies, among which euros, dollars, rubles, and of course, Moldovan leu (MDL). Drachmae Market, set up with the help of the local Digital & Distributed Technology Moldova Association (DTMA), has been announced as the country’s first crypto exchange. It is already accepting subscriptions.

DTMA was created in the beginning of this year to facilitate the implementation of distributed ledger technologies in the country’s economy. It is also closely working with Moldovan authorities and regulators on a proposal to establish a special tech zone with tax breaks and incentives for blockchain startups. A similar project has been realized successfully in another former Soviet republic – Belarus, where a growing number of fintech companies are now taking advantage of their membership of the Hi-Tech Park in Minsk.

The news about the launch of Drachmae Market, which came out from a major blockchain and cryptocurrency event hosted by the Moldovan capital, was covered by both local and foreign crypto media. On Friday, the World Blockchain and Cryptocurrency Summit in Chisinau welcomed participants and speakers representing communities from countries across Europe and Asia, from Lithuania to India, according to Crypto vest. Founder and president of DTMA Lee Gibson Grant announced at the conference that the exchange had received a notice from the central bank, which could be interpreted as an indirect permission to operate legally.

In the letter presented at the summit, the National Bank of Moldova basically says that as there is currently no legal framework regulating crypto currencies in the country, no authorization is needed to provide crypto trading services, Mybusiness.md reports. At the same time, Drachmae Market will have to comply with the country’s anti-money laundering and counter-terrorism financing laws because it offers trading pairs with fiat currencies. This means its operator is required to share financial data about money flows and processed transactions.

The correspondence also indicates some softening of the central bank’s position on cryptocurrencies. Last fall NBM released a statement to clarify its stance warning that crypto are neither issued nor guaranteed by a central bank or a government agency. The bank acknowledged that the “virtual currency represents digital value” and is “used by individuals or legal entities as an alternative to cash,” but stressed that “it is not tied to the national currency.”

“The use of virtual money is not regulated in Moldova. [Crypto currency] is not a form of electronic money in the context of the Law on Payment Services and Electronic Money, and the activities of issuing [digital coins] and executing transactions with them are not controlled by the competent authorities,” NBM pointed out.

The financial authority listed a number of risks, to which crypto users are exposed, including fraud, high commissions, loss of funds, market volatility, and last but not least – no guarantees that merchants would accept cryptocurrencies. Crypto in Moldova, however, are becoming more popular with both users and merchants. For example, a large furniture store in Chisinau announced in December that it had introduced bitcoin payments.

bitcoinnewsboards,india

Why government and RBI need to show some tough love for cryptocurrencies

India saw the internet’s commercial launch exactly that same year: August 14, 1995. The result is, today we are the cusp of 500 million internet users. India is one of most data-hungry countries in the world. Its e-commerce market is one of the world’s largest. The next wave of seismic change will come from blockchain and cryptocurrencies. Their transformative and economic credentials are there for all to see. The opportunity is open to lead this revolution. But where is India? The internet got in because it didn’t raise the hackles of the powers. Cryptocurrencies? Not so lucky. A Reserve Bank of India (RBI) notification on April 6 barred all regulated entities — commercial and cooperative banks, payments banks, small finance banks, NBFCs and payment-system providers — from dealing in cryptocurrencies. The impact is not limited to the financial system but spreads to the innovation pipeline in the underlying blockchain technology. If it keeps going down this path, India will likely be playing catch-up when blockchain and crypto assets move from being shiny new things to a way of life. Sure, blockchain and cryptocurrencies are different ideas. Banning one doesn’t mean banning the other — in fact, India is gung-ho about blockchain and is embracing it in everything from banking to education. But here’s the thing: they need each other. The uncertainty miring cryptocurrencies isn’t good news for India’s blockchain aspirations. The most damaging is it casts a shadow on the country’s so-called commitment to technology to transform itself. This is a battle that has governments and traditional institutions grappling with the potential end of the status quo on one side, and the crypto community on the other. The latter’s idealism — that traditional power centres can be cut down to size by large-scale adoption of blockchain and cryptocurrencies assets — is at odds with the realities of the world. Moreover, this claim of moral superiority is marred by the presence of fly-by-night operators who run Ponzi schemes around cryptocurrencies. As Kasper Korjus, managing director of e-Residency in the Republic of Estonia and the force behind that country’s crypto token, Estcoin, tells ET Prime, “Both these sides often behave as if the other has no future. Like most things, the truth is somewhere in the middle.”

Japan/bitcoinnewsboards

Alibaba Subsidiary Taobao Bans few Cryptocurrency and ICO Services

Taobao previously had a ban on the sale of Cryptocurrency Miners and offering Mining Tutorials. In addition to that, they have now banned any product or service that makes use of the Blockchain. The new rule prohibits Cryptocurrency related services which include ICO Consultancy, White Paper Writing Services, smart contract deployment services and other crypto related technical services. This also prohibits the sale of blockchain based virtual assets like CryptoKitties and their numerous clones. These new rules will be valid from April 17th.

Taobao has cited recent bans from People’s Bank of China behind the crackdown. In September last year, PBoC banned all ICOs and early this year, they banned Cryptocurrencies itself. Though there is no ban on mining yet, most miners are looking to move their services outside the country.

Taobao considers breaking these new rules as serious violations and has a penalty system in place to penalize those who fail to follow. After PBoC banned ICOs last year, most of the advertisers have been able to circumvent this ban by changing the spellings. For example, they write ICO as IC0 where they change the ‘O’ to ‘0’(zero).

Though China has been extremely hostile towards Cryptocurrencies, most of the traders are optimistic about a change in stance in the coming months. In fact, PBoC’s new head Yi Gang said “Bitcoin is a currency that provides freedom to anyone that uses it,” and emphasized that the cryptocurrency is transparent.

Though Taobao has banned all Blockchain related services, there is no ban on Blockchain in China. In fact, the Chinese government has been extremely optimistic of Blockchain technology. A $1 Billion Blockchain fund was just launched which is backed by the government to invest in Blockchain startups. Also, PBoC filed the most number of Blockchain patents in 2017.

A considerable punishment will be imposed on the stores that violate the new regulations by turning a blind eye to them, said the statement.

In September 2017, the People’s Bank of China (PBoC) imposed an indefinite ban on ICOs.

Surprisingly, a large chunk of individual sellers remained active on the Taobao platform with services related to ICOs even after PBoC’s ban. Some of these went to the extent of drawing up ‘white papers’ with fake information to help ICO projects.

As of today, searching for the term ‘white papers’ in Mandarin still redirects to stores that offer white paper copywriting services for the banned ICO activities

twitter/bitcoinnewsboards

China Targets Crypto Chat Groups

From the time when the PRC excluded ICOs, and formerly clamped down local conversations, traders have taken to messaging. And chat platforms to purchase and trade cryptocurrencies. The increasing Chinese internet police division has now eyed those in its newest efforts to stamp out all instances of cryptocurrencies within China.

Wechat is vast in China and many have taken to it as a blockchain. And the crypto forum for discussion and transaction. Some groups yet have been closed down ahead of another possible crackdown on crypto. The pressure is increasing and one “3 am Sleepless Wechat Group” concentrated on crypto was self-silenced the past.

Telegram is also widespread in the country as it is encrypted. A screenshot has been extensively shared from one conversation, claiming that a People’s Bank of China restriction. Proclaiming major policies to limit cryptocurrency in China will occur around March 15. This date is a holiday in the country and one often used by the government for stately new policies.

Banning the Banned

A number of stages were taken by the country previously to eliminate cryptocurrencies, which comprise outlawing ICOs, limiting exchanges, and imposing mining operations overseas. Many have moved businesses to Hong Kong where the atmosphere is far more comfortable and crypto trading is open and creative.

One of the remaining exchanges in the country, Huobi, was apparently moving its leftover staff in China to Singapore as the crypto exodus remains.

Crackdowns are nothing new in China, the internet itself behind the Great Firewall is one of the most deeply censored networks in the world. What the administration expects to attain by suppressing chat groups and harassing at those that have moved is a mystery.

Mining/bitcoinnewsboards

Japanese Energy Company Entering the Mining Business

Kumamoto Energy arriving the mining trade made titles this week. The Japanese company strategies to set up a secondary company, wholesale their excess electricity at a reduced price, and use it for mining cryptocurrencies.

Kumamoto Energy is a professed unconventional energy company that uses solar power to offer electricity. Though, given the nature of energy generation, it has restrictions when it comes to regulating the amount of power produced, which frequently results in producing surplus power. As a way of operating excess electric power, getting into mining is reasonable.

This knowledge has previously been realized before. An old hydropower skill in a remote area of Austria is also into mining. In this circumstance, the facility was in a postponed state because power transmission lines were old and an important amount of renewal cost was mandatory to sell electricity again. Yet, if a mining facility is put up next to the power plant, transmission lines will be needless.

Consumption of natural power in remote places for mining will probably increase in the upcoming.

In this situation, it is a high-impact story as Kumamoto Energy will start it themselves. If this makes development, more greatly public companies and the government will start mining. And then, if each country around the world gets into it, the safety of cryptocurrency would considerably progress.

In construction with the bitcoin scalability problem, Hong Kong’s virtual currency exchange Bitfinex has fully implemented Segwit technical protocol for putting and withdrawing money. It is the first time that a foremost investment platform has executed this.

Coinbase, the biggest cryptocurrency exchange in the US, is scheduling to start accepting transactions that accept Segwit next week. Segwit’s remittance ratio will progress significantly by adopting this support.

Presently, the transaction fee for bitcoin is set at its minimum level, and it can be managed easily with a commission of about 5-6 yen(5-6U.S. cents).

BCShop.io/bitcoinnewsboards

BCShop.io Announces Token Sale While Demonstrating Industry Leaders Use Cases

BCShop.io is excited to announce its token sale dates and details after developing the e-commerce / e-payments platform for 8 months.

Despite ubiquitous ICO hype, the company aims to deliver the product in the first place while protecting its investors by introducing small cap token sale round with key milestone of commercial product release in May 2018. Meanwhile, the platform is already operational on a test network and several industry leaders use cases have been implemented, bitcoin.com (https://goo.gl/T3FckM) and ICO Alert are worth to mention among others.

Token sale details are as follows:

  • Dates: 16th Januaray 2018 (04:00 GMT) – 13th Ferbrary 2018 (04:00 GMT)
  • Soft cap: 300 ETH
  • Hard cap: 2000 ETH
  • Bonuses: up to 21%

For pre-applied investors token sale will open 24 hours earlier to provide better opportunity to get in. Application can be done on the website or through direct link.

“Taking into consideration that a lot of investors are seeking for tokens liquidity after token sale is ended, we already integrated Bancor protocol and trading will go live in the first days after sale is finished, zero fees are guaranteed. All that besides planned application to all noticeable exchanges”, BCShop.io CEO Vladlen Manshin states.

Short Q&A section

Q: Why so low caps?

A: We are experienced and highly effective team focused on development. We don’t need more at this stage to deliver commercial product.

Q: How many tokens will be distributed? How many tokens were already distributed?

A: Up to 242 000 tokens will be distributed at this stage. ~20 000 tokens were already distributed during presale and bounty campaign.

Q: What happens with undistributed tokens?

A: All undistributed tokens will be frozen until commercial release. They will be moved to long-term development fund and will be unlocked for project development needs during next stages. Each stage unlocks small amount and is publicly announced at least 30 days before.

Q: Are you going to exchanges?

A: Sure, we are applying to all major exchanges. We already implemented Bancor protocol which guarantees decentralized exchange with 0% fees.

About BCShop.io

Incorporated in Singapore, BCShop.io PTE LTD.  aims to reinvent the way digital commerce and payments work today. Focusing on digital goods and services area project’s goal is to enhance it with fast-growing opportunities blockchain technologies and cryptocurrencies have to offer.

Company name: BCShop.io PTE LTD.

Company site: https://bcshop.io/

Company contacts:

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Email: bcshop@bcshop.io