Investor sues Ripple on grounds of „securities

Investor sues Ripple | An investor who claims to have lost money buying and selling XRP crypto currency has filed a class action lawsuit against Distributed Ledger Startup Ripple alleging that the company violated state and federal securities laws.

Investor sues Ripple – Ethereum code losses?

Ryan Coffey, represented by James Taylor-Copeland, filed a lawsuit in San Francisco County Superior Court on Thursday. Coffey claims damages on behalf of all investors who bought and sold Ripple („XRP“).

Ripple is a crypto currency that grew to a market capitalization of over $140 billion in January, but has since fallen back below $35 billion. Ryan Zagone, Ripples Director of Regulatory Relations, told a British parliamentary committee on Tuesday that „there is no direct link between Ripple and XRP“.

The federal law stipulates that companies that sell securities must register with the Securities and Exchange Commission (SEC). Whether a financial instrument qualifies as collateral depends on the Howey test, a standard derived from a 1946 Supreme Court case.

If an instrument involves an investment of funds and brings with it a reasonable profit forecast – an expectation that depends on the actions of a specifically identifiable group of people – then it is a certainty. In Coffey’s complaint it is argued that XRP checks all these boxes.

The question of whether XRP is actually a security is still being fiercely discussed.

Where can I buy the Aion Coin?

There are several Exchanges where you can buy the Aion Coin. Binance currently has the largest trading volume of Aion Tokens and is also one of the most popular Exchanges. Other exchanges include Liqui, LATOKEN, KuCoin, the Bancor Network and Koinex. In most cases the coin has to be exchanged for the crypto currencies Bitcoin and Ether.

Aion Coin could revolutionize the way we use blockchains by bringing the individual blockchains together and allowing the exchange of data between them. But there is still a long way to go, because the development of the platform is still in its infancy.

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Bitcoin Lightning Network – Capacity problem?

Bitcoin’s Lightning Network is considered the most important development of the year. Solving the problem of scalability is not an easy task. Although significant progress has already been made, some concerns remain. Larger payments and also aspects of capacity are causing problems, as it appears that only a handful of nodes provide more than 50 percent of capacity.

Concerns about the Bitcoin revolution

The Lightning network should scale the leading crypto currency and enable lightning-fast transactions. However, this is only possible if many people or clients are using the technology, which is only in the beta test phase.

Although the Lightning Network (LN) has been quite well received, there are some shortcomings:

Larger payments via the LN will probably not be possible in the future. Most so-called payment channels do not have the necessary capital (in Bitcoin or the equivalent in USD) to carry out large transactions via the LN. Currently, only 20 US dollars are deposited in Bitcoin on average. Transactions over five US dollars can often not be carried out.

However, it should be borne in mind that the LN is in the test phase and is explicitly warned against using larger amounts. The bigger problem is the capacity of the LN. The largest ten nodes of the LN represent over fifty percent of the current resources. This could lead to centrality. But even this problem does not have to be permanent. The more users participate in this system, the better the distribution of the LN and the capacity. New clients (clients) can also solve this problem.

New Bitcoin Code Scam

And this is exactly what is happening right now. Blockstream introduced a new Bitcoin Code Scam this week. C-Lightning V 0.6. is a client that meets the needs of the users. By this clearly more customization possibilities are made available, which can lead to an improved distribution and acceptance.

Light Nodes („light knots“) are a new function, which facilitate the mechanism of the LN clearly. And that’s what counts: Easier operability and user-friendliness. In addition, there is an integrated wallet for on- and off-chain transactions. This extra was also required and the Bitcoin community was listened to here as well.

Basically, it can be said that the technology will improve significantly in the future so that the average user can also benefit from this technology. Decentralized protocols take time and prefer a mature system to an overhasty unfinished product.

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$1.1 billion in crypto currencies like Ethereum and Monero

According to recent research, the total amount stolen by cyber criminals this year alone is over $1.1 billion. The cyber security company Carbon Black said the money was pretty easy to steal.

Bitcoin Trader for only one dollar

Rick McElroy, security manager at Carbon Black, spoke to CNBC about this trend and how easy it is for criminals today. It’s surprisingly easy to commit a cyber crime like Ransomware, even without programming skills. It’s not always the big bad groups, anyone can do that.

Many use the dark web for this. There you can find many market places for e.g. Ransomware and there you can order the software without having to write the program yourself. The malicious software costs on average 224 US dollars, but the cheapest version costs only 1.04 USD.


Responsibility of users

The security expert also said that the responsibility for protecting crypto currencies lies with each individual. He reported on some naive investors who did not know that Bitcoin & Co. did not have a safety net like banks or institutions.

With crypto currencies these cannot offer protection, everyone is his own bank and the responsibility lies with the user. With large sums a hardware Wallet should be obligation.

Stock exchange hacks & companies in focus
27% of the attacks were aimed at stock exchanges. This makes stock markets the most attractive target. Coincheck was the last high carat, hackers could capture 530 million USD in NEM. In second place with 21% are companies. According to Carbon Black, www.onlinebetrug/en a ransom demand is the usual procedure. The attacker demands payment in a certain crypto currency before releasing the affected computers or networks.

Monero and Ether the new favourite currency
It becomes clear that Bitcoin is not the crypto currency preferred by cybercriminals. Both Monero and Ether have been used more often than the most popular digital currency today. The privacy oriented crypto currency Monero was demanded in 44% of all hacks. This value puts the crypto currency well ahead of other digital currencies. Ether follows with ‚only‘ eleven percent, followed by Bitcoin with ten percent.

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Ether sent to Ether Classic or vice versa – What to do?

Scenario 1: Ether sent to an Ether Classic address
Myetherwallet and private keys
Jaxx and Exodus
Scenario 2: Ether Classic sent to an Ether address
Scenario 3: ERC20 token sent to Ether Classic address
Send Ether to Ether Classic address
Send ERC20 token to ether address
Ether sent to Ether Classic or vice versa – What to do?
Ether (ETH) and Ether Classic (ETC) are two different digital currencies. However, Ether and Ether Classic addresses look identical, so it can easily happen that these two addresses are confused. Either you accidentally send Ether to an Ether Classic address, Ether Classic to Ether addresses or maybe even ERC20 tokens, which are only available at Ether, to an Ether Classic address.

The error is usually only noticed when no ETH, ETC or ERC20 arrive on your wallet, although they have been sent.

Now it’s time to take a deep breath. Probably you can restore the ETH, ETC or ERC20 tokens.

The only requirement is that you own the Wallet to which you have sent the ETH, ETC or ERC20 token. If you have sent ETH to an ETC address of a stock exchange or to another third party, you must contact the recipient and ask for help.

Bitcoin Profit is a new blockchain

If the wallet is yours, you should be able to restore your Ether, Ether Classic and ERC20 tokens. Private keys to ether addresses are valid on the Ethereum and Ethereum Classic Blockchain. This makes sense, because both currencies originate from a blockchain and were split by a hard fork.

Scenario 1: Ether sent to an Bitcoin Trader address

The procedures differ here, depending on your wallet. Here you will find instructions for the most common wallets:

It does not matter whether you have a ledger Bitcoin Trader or a ledger Blue. Carefully follow the steps below for both:

Connect your ledger and enter your PIN to decrypt the ledger
If you have activated browser support on your ledger, deactivate it.
Start the Ethereum application and copy your Ether address
Activate browser support for your ledger now
Visit Myetherwallet (change the website to German)
Set Myetherwallet to „ETH“ – top right „Network ETH“.
Go to „Send Ether and Tokens“
Now select the „Ledger Wallet“ option under „How do you want to access your wallet“ and click on „Connect to Ledger Wallet“.
Then select the „m/44’/60’/160720’/0“ derivation path (ETC for ledger)
Now search for the address to which you have sent Ether
Click on „Unlock your wallet“ to display the Wallet Manager
Paste the ether address copied above and transfer the Ether


Connect and unlock your Trezor

Select the option „Ethereum (ETH)“ and follow the link to Myetherwallet
Copy one of the displayed Ether (ETH) addresses
Return to your Trezor interface
Now select the option „Ethereum Classic (ETC)“ and follow the link to Myetherwallet
Set Myetherwallet to „ETH“ (top right: „Network ETH“) and go to „Send Ether and Tokens
In „Send Ether and Token“, select „How do you want to access your Wallet“ and click on „Connect to Trezor“.
Then select the „m/44’/61’/0’/0“ derivation path (ETC for Trezor)
Locate the address to which you accidentally sent Ether
Click on „Unlock Wallet“ to unlock the address
Paste the copied Ether address and transfer the Ether

Myetherwallet and private keys
First, the basics of how ether addresses and private keys are related must be understood. An ETH address consists of a public key and an associated private key. Since ETH and ETC emerged from a block chain, it is only logical that a private key for ETH is also a private key for ETC and vice versa. The ETH and ETC addresses created for the private key are also identical. Put simply, this means that a private key applies to ETH and ETC.

With a private key it is very easy to send your ETH from an ETC address and vice versa. Use and insert your private key. If you want to send Ether, you have to select ETH (Network ETH) in the upper right corner. If you want to send Ether Classic, you have to select ETC (Network ETC) in the upper right corner.

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Hedge Fund CEO: Bitcoin price of $60,000 in 2018 possible

Phillip Nunn has stated that he still believes Bitcoin will reach $60,000 this year. The CEO of The Blackmore Group and Wealth Chain Group today confirmed his January price forecast.

Many crypto projects like Bitcoin Profit will fail

Nunn spoke to BusinessCloud at KPMG’s Tech Manchester event on Thursday. He said he still believed in his January forecast. Earlier this year, he predicted Bitcoin would reach both $6,000 and $60,000 by 2018.

„The forecast was based primarily on the market volatility we are Bitcoin Profit experiencing at the moment; I think that is really obvious. I totally stand by my prediction.“

„All the money that’s in crypto right now comes from the public, so it’s all about market sentiment. A flood of bad news can shake the market, things like regulation. „The industry is so small that there is market manipulation.“

According to BusinessCloud, Phillip Nunn firmly believes in the transformative power of blockchain technology. It goes so far that the state has the potential to disrupt every industry on the planet and thus decentralised organisations are the way forward. In yesterday’s interview scamcontrol said that he is often in talks with banks, financial institutions and hedge funds and that they all want to participate in the crypto currency, but are struggling to find a suitable entry point:

„There’s no point of entry at the moment….. If you are a pension fund with a pot of 5 billion pounds and want to take a 5% position in crypto, you will really upset your investors because of the volatility of the market.“

So far there is not yet the necessary infrastructure for the market entry of institutional actors. However, companies such as Coinbase and others are trying to change this with new products for financial institutions. Philipp Nunn believes that most of the digital assets will disappear in the coming years and that only some of today’s top crypto currencies will prevail in terms of market capitalization.

„The core market such as Bitcoin, Ethereum, Litecoin and Ripple, to name but a few, is already well established in the market. „They are the fabric of industry, if you will.“

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Analysts expect a strong increase in bitcoin values

For the first time since March 2017, purchase orders now account for over 92 percent of market activity. After a market recovery of over $120 billion, the massive increase in buy orders announces an imminent bull market that may even exceed the monstrous value of the end of 2017.

Data from TurtleBC show that the crypto market – purchase share currently stands at 92.86 percent In December 2017, the high was 88 percent.

Bitcoin wins $1,000 in one week
With so many buy orders exerting buying pressure on the crypto currency market, a significant upward trend is very likely. The existence of buy orders is not the only indicator pointing to a massive increase in the near future – as Bitcoin has shown a meteoric jump of $1,000 in the last three days, investors are entering to benefit from the psychological barrier of $10,000.

See also: 22.04.2018 Technical Market Analysis of Bitcoin, Ethereum and Bitcoin Cash

Analysts expect a strong increase in bitcoin values. Especially Fundstrat co-founder and head of research Thomas Lee seems to be right with his statement. Tom Lee last week in an interview with the CNBC:


Not all forecasts are bullish

While market sentiment is overwhelmingly positive, not all forecasts are bullish. One of last month’s predictions comes from Harvard economist Kenneth Rogoff, who told CNBC in an interview that Bitcoin is likely to trade at $100 per token by 2028:


Rogoff, the former chief economist of the International Monetary Fund, seems unaware of the benefits of BTC or the implementation of the Lightning Network and explains that „if you take away the possibility of money laundering and tax evasion, its actual uses as a transaction carrier are very small.

The immense capital currently being invested in the block chain industry makes it highly unlikely that Bitcoin will fall from favor in the foreseeable future. Recent employment statistics show that the number of blockchain-based jobs has doubled in the last three months.


The Blockchain is here to stay

Amazon Web Services launches Instant Blockchain Templates for Ethereum and Hyperledger. As the oldest, most valuable and most liquid crypto asset, Bitcoin is considered the „gold standard“ of the blockchain and can be exchanged for virtually any other old coin on the market.

There are thousands of companies that accept Bitcoin directly as a means of payment, and with LocalBitcoin it has never been easier to convert Bitcoin directly into paper money. Unfortunately not allowed in Germany by the authorities.

Bitcoin, Altcoin and Blockchain technology remains. Interestingly, the Delaware Senate recently passed a law allowing the Blockchain to be used to keep business registers.

After the crypto currency buying rates have reached an all-time high and the tax season is finally over, we are curious how the upward trend will develop.

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