Coinsilium Joins Hdac Token Generation Event Advisory Board

Zug, Switzerland, 15 December 2017 — Hdac Technology AG (‘Hdac’), the Zug-based multinational corporation backed by Hyundai BS&C has engaged London-quoted Coinsilium Group Limited (NEX:COIN) as advisor to its Token Generation Event (‘TGE’). Blockchain veteran and Coinsilium CEO Eddy Travia will represent Coinsilium on Hdac’s TGE Advisory Board.
Hdac aims to bring innovative blockchain technology to Internet of Things (‘IoT’) payment platforms and secure transactions amongst connected devices. Hdac’s technology, which was developed by a company named Double Chain, will protect IoT devices and their users from hacks, privacy invasion, and external threats, especially for transactions. The Hdac blockchain, based on hybrid blockchain technology, will offer a wide range of capabilities to ensure reliable connection and secured processing between devices. Hdac will work to apply this pioneering platform to hardware payment applications.
Coinsilium, a London-based investor and accelerator in the blockchain space since 2014, will utilise its specialist knowledge and its global network of contacts in the blockchain industry to support Hdac throughout its TGE and beyond.
Eddy Travia, CEO of Coinsilium commented: “We are excited to advise the talented Hdac team with their token generation event and we are impressed by Hdac’s ambitious objective to apply blockchain technology to significantly improve the reliability and the security of machine to machine payments in the fast-growing, multi-billion dollar IoT industry. We look forward to contributing to the success of Hdac’s token generation event.”
Hdac supports blockchain technology events such as the StartupToken Hackathon held in Paris in November and the d10e blockchain conference in Bucharest starting on December 14.
A joint interview with Coinsilium CEO Eddy Travia and Hdac advisor Stuart Corby for the Barbarian Investor Show can be seen here:
About Coinsilium
Coinsilium is a blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies. Coinsilium also provides advisory services to companies planning token generation events.
For further information about Coinsilium please visit
About Hdac Technology AG
Hdac Technology AG is a Zug-based technology company building a new blockchain to secure machine to machine payments in the fast-growing world of IoT.
About Double Chain
Double Chain is a Korean company which specializes in developing IoT contract platform based on Blockchain technology. Double Chain has been active in the blockchain space for four years and has entered into an MOU agreement with Hyundai BS&C as of December 2016 which has been providing the core technology for Hdac.
For further information about Double Chain, please visit
Please visit or join the Telegram channel

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TAS Group and Cointed Crypto Debit Card: The future of money today

The Italian giant TAS Group and the Austrian start-up that has made a name as leading Bitcoin ATM provider are teaming up to deliver a crypto debit card. It will allow clients to quickly and easily exchange from crypto into fiat or vice versa on any Cointed ATM, as well as making payments to selected retailers.
The rampant growth of the digital currency industry together with the increased media attention are clear signs that more and more people are getting involved. Making big money from crypto would be of little use if it can’t be spent. Yet, despite cryptocurrencies’ rising popularity there are very few ways to exchange to fiat and make secure payments.

The success of a financial solution depends on two factors: relevance to the client’s needs and reliability in its operation. This explains why a 30+ years of experience company is partnering with a start-up?
TAS Group brings in reliability.
They have vast experience and a developed network of partners. Besides, a crypto debit card needs a placed network to be used. More partners means more places you can use it. In turn, demand for the card grows.
Cointed is responsible for the relevance factor.
As they are already an operating exchange from crypto into fiat money and a leading Bitcoin ATM provider, they know what people need.
Of course, when it comes to money and payments, trust is a another huge factor.
TAS Group is an established company with good track record.
Meanwhile, Cointed is one of the few companies involved with digital currency exchange and mining that is in the process of acquiring a banking license. That makes them a trusted partner in the largely unregulated cryptocurrency market.

The new card is a dual prepaid card that supports both fiat money and bitcoin. It stems from TAS Group’s cashless 3.0 platform and would be produced under a white-label strategy.
Clients can use the card to buy cryptocurrencies and cash in on their gains at all Cointed’s Bitcoin ATM locations. The fiat balance is spendable everywhere in the International Circuit (VISA, MC, Amex and etc.) The card also has a dedicated app.
This card is special. It is the only one that allows bitcoin balance to be charged directly at selected retailers of the joining Acquiring partners. Also, recharging is easy and accessible. It can be done through a mobile app, online or through Cointed ATMs.
Initially, the card will support Bitcoin. But with Cointed supporting numerous others, an inclusion of Ethereum, Litecoin, Monero and Ripple is possible in the future.
Besides, TAS Group and Cointed know that crypto users form an international community. That’s why their card will have FREE international delivery!

Cointed will be giving away crypto debit cards to those who participate in their ICO campaign until December 14th.
Get more information here and also make sure to follow the latest Bitcoin News.
About Cointed
Founded in 2015 by Wolfgang Thaler and Christopher Rieder, Cointed provides their clients with easy and simple access to cryptocurrencies. In less than two years, they have turned their start-up into Europe’s leading player in the digital currency industry.
Their services include an online exchange, bitcoin ATMs and payment solutions for retailers of any size.
About TAS Group
TAS Group provides software solutions for e-money, payment systems and capital markets. Their products create a seamless customer experience when dealing with financial intermediaries.
Trusted by European Central Banks and US institutions alike, TAS Group is a preferred partner in the finance industry.

BTCNews does not hold any responsibility over the information provided in the article.
We request our readers to do an extensive research before signing up with any company. Announces Upcoming Tier Change For Its Trade Token, Having Amassed Over $15.5 Million in Funds & 7,000 Participants

13 December 2017, Zug Switzerland:  has announced that more than $15.5 million has been raised for the ICO since its launch, plus more than 6,000 participants have subscribed to join the trading revolution.  Now in full swing, and in the midst of its ICO period, the company will be changing tiers on its Trade Token (TIO) thereby increasing value from 1 ETH = 900 TIO to 1 ETH = 800 TIO.  This change will occur on 14 December 2017 08:59 CET.
This news closely follows the announcement of the board to acquire a US-based broker / dealer, as well as the launch of a string of partnerships with blockchain industry leaders including HitBTC and The University of Nicosia.  HitBTC will be listing the tradetoken (TIO) on their exchange in mid-January 2018, and the company will be sponsoring an incubator at the University of Nicosia – known as “the Bitcoin university” – and the first academic institution worldwide to publish academic certifications on the blockchain.
With more than $15.5 in funding already, the company has already far surpassed its soft target which enables it to build out the technologies that it has committed to its early adopters, including Primus Capital Markets, FXPrimus and others.
Most attractive for existing token holders, however is the opportunity for them to participate in a growing Liquidity Pool.  An innovation in blockchain circles, the liquidity pool enables eligible participants to benefit from successes of the company, by receiving regular rebates in fiat or ETH.
CEO, Jim Preissler commented on the announcement, “We have been overwhelmed by the support of the community and by the sheer volume of people wishing to join the trading revolution.  Never resting on our laurels, we continue to proactively push forward with new partnerships and new innovations in order to add value for our existing participants who form part of our industry-leading liquidity pool.” ICO ends on 4 January 2018, and the next tier change will occur on 14 December 2018.

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We request our readers to do an extensive research before signing up with any company.

Fifteen Ways to Donate Bitcoin to Charity This Holiday Season


The holidays are coming, and as bitcoin has increased in value, many crypto-proponents are donating their funds during this year’s “season of giving.” There’s a whole lot of charitable efforts and causes accepting bitcoin this year, and we’ve hunted down a wide variety of nonprofits for your convenience.
Also read: Options Giant CME Launches Bitcoin Futures — Here’s What to Expect
Every year people donate to charities across the globe but during the month of December, well over a quarter of the world’s annual donations are given to nonprofits. Further, the last three days of the year see the most giving, as those three days represent 10 percent of the funds donated every year. This year, now that bitcoin has reached new all-time highs and is currently valued at roughly $18,900, bitcoiners are giving more satoshis than ever before. For instance, Fidelity Charity who accepts bitcoin raised over $22 million worth of BTC this year, eclipsing all the other years prior. Since it’s the season of giving we decided to aggregate a list for our readers of well known charitable causes that accept bitcoin.
Charitable Causes That Accept Cryptocurrency Donations
The Electronic Frontier Foundation (EFF)
The Electronic Frontier Foundation is a well known charitable organization that focuses on protecting the civil liberties within the digital world and online. The nonprofit was founded in 1990 and has accepted bitcoin for donations since the spring of 2013. BTC donations go towards, policy research, internet litigation, software development, and more. Many bitcoiners believe the EFF is a great organization that fights for open source development and the freedoms tethered to the digital information age.
The Multidisciplinary Association for Psychedelic Studies (MAPS)
Another charity that accepts bitcoin donations is the Multidisciplinary Association for Psychedelic Studies a 501(c)(3) nonprofit research center created in 1986. The organization researches, and educates the public on the societal benefits of psychedelics and cannabis. The sciences involved with psychedelic and medical marijuana has evolved further than basic therapy and spirituality. MAPS believes studies with marijuana and psychedelics can lead to better cures and a greater understanding of these types of drugs.
Wikileaks is an organization that started in 2006 that was initiated by the cypherpunk, Julian Assange. The website is operated by an international journalistic group that provides classified information, and leaks stemming from governments, and corporations. Wikileaks has been accepting bitcoin since 2010 when the nonprofit was blocked by credit card organizations during a financial blockade.
The website was created in 1995 and encourages the end of war and ending the military-industrial complex. Antiwar’s website has been accepting bitcoin core (BTC) since 2013 and has just recently announced the acceptance of bitcoin cash (BCH), as well as zcash, and dash. The nonprofit is devoted to “non-interventionism” and has staunch libertarian leanings. Currently, the group is focused on the many wars taking place in the middle east and issues involving North Korea.

Watsi is a small nonprofit that has been gaining attention this year by attempting to create universal health coverage. The charitable cause uses two programs to help people get access to healthcare resources which includes Watsi Crowdfunding and Watsi Coverage. These services are used to provide people in unfortunate situations with a doctor’s checkup or life-changing surgery.
The Water Project
The 501(c)(3) nonprofit the Water Project is a well-known organization among bitcoin proponents. The charitable cause invests funds to build local clean water solutions to help citizens suffering from the water crisis in sub-Saharan Africa. Last year over 5,500 individuals donated $2Mn, which provided fresh water to 200 communities and schools giving clean water to more than 300,000 sub-Saharan African residents.

Code to Inspire
The registered nonprofit, Code to Inspire (CTI), was created by Fereshteh Forough back in 2015. The organization produces classrooms for women in Afghanistan who are interested in getting an education in software and online businesses.  CTI opened the first school in Herat, Afghanistan, and taught roughly 50 female students daily. The charitable cause has grown much larger since its inception providing hundreds of Afghani women with a technical education and computers as well.   
Common Collection
A peer-to-peer platform called Common Collection uses donated bitcoins to help global refugees and people in poverty. Many of the individuals listed on Common Collection’s website have suffered from natural disasters. The nonprofit’s founder Elisabeth Grothe-Møller believes bitcoin can impact those in need almost instantly and provides a more efficient way to crowdfund charitable efforts.
The Internet Archive (
The Internet Archive and ‘Wayback Machine’ is a San Francisco–based non-profit that wants everyone in the world to have universal access to the information provided on the internet. The web portal was created in 1996 by Brewster Kahle, and the collection of data housed by the archive exceeds over 15 petabytes of data. The 501(c)(3) non-profit has accepted bitcoin core (BTC) since 2012 and just recently started taking bitcoin cash (BCH) for donations this year. Additionally, the creators of the Internet Archive have kept a good portion of donated bitcoins rather than exchanging them for fiat right away.

Last Door
An addiction recovery center located in Vancouver called, ‘The Last Door,’ has been accepting bitcoin for drug rehabilitation support for quite some time. The Last Door specializes in helping drug and alcohol addicts find a better way. The nonprofit has two programs, one that helps children with addiction problems and the other specializes in adult therapy. All bitcoin donations go towards an “abstinence-based, nicotine free long-term residential treatment for addiction.”
Bitgive was one of the first bitcoin-centric 501(c)(3) nonprofits, and was created in 2013 by Connie Gallippi. The charitable organization believes cryptocurrency solutions and blockchain transparency will become the future of giving over the next few years. Bitgive has raised funds for a variety of other nonprofits including Medic Mobile, TECHO, Save the Children, and The Water Project. In 2015 the charity created a 2.0 initiative which aims to increase charitable donation transparency.
The Wikimedia Foundation
Another recognized 501(c)(3) charitable organization called the Wikimedia Foundation uses donated funds for the growth of freely distributed multilingual educational content. It also helps collaborate with the online encyclopedia nonprofit Wikipedia. The Wikimedia Foundation has been accepting bitcoin since the summer of 2014. The nonprofit works with the San Francisco–based firm Coinbase to help process donations.
Epic Change
The charitable cause Epic Change is a social innovation project which has a wide variety of projects. The nonprofit has built classrooms in Tanzania, while also crowdfunding project in Afghanistan, Nepal, the US, and Kenya. The projects Epic Change has created in the past include the Twitter Kids of Tanzania, Love Apocalypse, Wonder Study, Epic Thanks, To Mama With Love, and LaLa Love. The Epic Change team says, “We create movements designed to amplify the voices and the impact of changemakers.”
The SENS Research Foundation
The SENS Research Foundation is a 501(c)(3) public charity devoted to researching and treating age-related disease. The nonprofit funds universities studying science and medicine while also utilizing its own research center for regenerative medicine to repair R&D. The charity accepts bitcoin and hopes donations help find cures and ways to make these diseases easier to live with for people suffering from age-related issues.
The OpenBSD Foundation
The Canadian based nonprofit, the OpenBSD Foundation, exists to fund OpenBSD projects and research. OpenBSD is a free and open source Unix-like operating system which has spawned projects like OpenSSH, OpenBGPD, OpenNTPD, OpenSMTPD, LibreSSL, and mandoc. Open source fans have always appreciated the OpenBSD Foundation and the organization has accepted bitcoin for a few years now. Donations are used to fund infrastructure costs for the projects, and software developer events and initiatives.
Nonprofits Are Attracted to the Benefits of Cryptocurrency Donations
Using digital assets to donate funds to charitable causes continues to grow, and there are many more nonprofits that accept cryptocurrencies. Bitcoin has fueled the fire of a different kind of giving, and charities all around the world are beginning to see the benefits of cryptocurrency donations.
What do you think about people donating bitcoin to charity this holiday season? Let us know what you think in the comments below.
Images via Shutterstock, OpenBSD, EFF, Antiwar,, and The Water Project.
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PR: Extra Credit Takes Bitcoin Education to the Next Level

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.
For the first time, someone is empowering people to learn about cryptocurrencies. Extra Credit, which is a dual effort with Bitcoin Homework, is a new venture that combines blockchain technology with educational programs designed to teach people about cryptocurrencies, even as they partake in the digital payment for perhaps the first time.
Extra Credit is a new website that has laid out an ambitious roadmap for the following year and more that is aimed at revolutionizing the way people learn about cryptocurrencies. For those who might have read in the news recently about the rising value of Bitcoin and the various other digital currencies that are available, they can now visit a one-stop location where all their questions can be answered and they can learn how to invest in the technology so as not to miss out on its stunning potential.
The plans for Extra Credit begin with a presale of their products this month, to be followed by the first full sale of the product. Both during the presale and the official sale, excellent bonuses will be available to all those who come aboard to see what the site is all about. That’s when the educational aspect of this endeavor will kick in, as courses will be offered via a smart contract that only the blockchain could complete, with bonuses automatically being triggered upon the completion of each course offered. These courses are aimed at demystifying cryptocurrencies for newcomers and providing in-depth knowledge for those wishing to really dig deep.
From there, Extra Credit teams up with Bitcoin Homework in the spring of 2018 to include a referral system, where students can earn credit for turning others on to this excellent opportunity, and an educational store, whereby those who wish, can buy the tools they need for an excellent online education using the credit they have amassed in the program. In case anyone thinks that these programs are tailored to any one group of people, a multilingual support system is planned for the second quarter of 2018 so that anyone in the world can take part.
In keeping with the spirit of these competitive times, an Honor Roll and weekly quizzes will also be enabled in the second quarter of 2018, allowing those with excellent achievement to benefit from their efforts. The next step is one of the biggest, as Extra Credit and Bitcoin Homework will be introducing a mobile app, allowing students to learn about cryptocurrencies on their phone or tablet, learning on the go. The end of 2018 brings, even more developments, including the development of an online podcast for further learning, no matter your location, and an innovative Open Source platform, which will open the Extra Credit programs up to any college or educational institution with the foresight to adopt them.
On top of all that, the team at Extra Credit will be seeking out marketing and sponsorship opportunities to further spread the word about their exciting developments. The team wants to stress to potential students that the most benefits and biggest bonuses will be available to those who sign up for the limited amount of credits available at the pre-sale, which is taking place soon.
For more information, visit Extra Credit of Bitcoin Homework, or send them an e-mail at to find out about these amazing opportunities.
Supporting Link
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

More Firms Entering the Bitcoin Market See Stocks Soar


It appears that public companies have found a new way to attract investors to their stocks, implying they are becoming a part of the booming bitcoin market.
Also Read: Israeli PM Netanyahu Says Bitcoin Is Rising as Banks Are Destined to Disappear
Crypto Stocks?
A third company listed on the Tel Aviv Stock Exchange (TASE) has now announced a new connection to bitcoin, and in response it has seen the price of its stock skyrocket. This comes despite the best efforts of the Israeli regulator at preventing bitcoin-related firms affecting TASE trading.
This morning a solar energy technology company, Apollo Power (TASE: APLP), announced it carried out a “successful test” of mining cryptocurrency with the system it’s developing. By basically just mining an insignificant amount of ether for a few hours with solar power the company was able to push its stock value up 150% in early trading. The CEO even had the audacity to say that the technology will revolutionize the electricity market in comparison to bitcoin.
Yesterday an apps promotion company, Apply Advanced Mobile Technologies Ltd. (TASE:APLY), announced that it will launch a new bitcoin-related marketing platform. Its stock went up 170% immediately and ended the trading day 250% higher. The company only had to say it signed an agreement with an unnamed third party to “develop a platform for marketing, distributing, and referring customers to blockchain and digital currencies’ trading systems and platforms.”
Sparking the regional trend was Natural Resource Holdings, a precious metals company whose stock price jumped 3,750% earlier this month after it announced a switch to mining cryptocurrencies.
Another One
DJ Khaled at the American Music AwardsThis trend of companies from completely different fields claiming a new found love for bitcoin is of course not limited just to Israeli public-traded firms. On Thursday Rich Cigars, Inc. (OTCMKTS: RCGR), a Texas-based cigar company promoted by D.J. Khaled, announced it is switching its name to Intercontinental Technology, Inc.
The company says this was done to reflect a strategic shift to a new direction including “aggressive” and immediate mining of bitcoin and other cryptocurrencies. The penny stock jumped in response from $0.31 to as high as $0.89 that same day.
Are stock investors right to flock to any company that claims to have some connection to bitcoin? Tell us what you think in the comments section below.
Images courtesy of Shutterstock.
Do you like to research and read about Bitcoin technology? Check out’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

Russian Crypto News Outlet Shook Down by the Ukrainian Security Service


According to the owner of the Russian cryptocurrency news outlet Forklog, Anatoly Kaplan, his media firm is being harassed by Ukrainian law enforcement officials. On December 15, agents from the Ukrainian Security Service (SSU) searched both Kaplan’s apartment and the Forklog offices in Odessa for an alleged association with U.S. nationals committing criminal activities.
Also read: Options Giant CME Launches Bitcoin Futures — Here’s What to Expect 
Russian Cryptocurrency Media Outlet Forklog Says the Ukrainian Security Service Committed Unlawful Acts Against the Company    
The Ukrainian Security Service (SSU) is a law enforcement entity that specializes in terrorism investigations, and counterintelligence activity. According to Mr. Kaplan owner of the regional cryptocurrency news publication, Forklog, agents revealed they were looking for clues in connection with a group of Ukrainians and U.S. nationals committing financial fraud. The SSU explained to Forklog representatives that the suspects used Forklog to exchange bitcoin for the national currency hryvna. Mr. Kaplan and the Russian media organization believe the search was “unwarranted,” as neither Forklog nor sites associated with the website have ever provided these types of services. “Forklog doesn’t even have software that provides such services,” Mr. Kaplan tells
Forklog is a Ukraine-based cryptocurrency news outlet created by Mr. Kaplan in 2014. SSU Agents Confiscate a Computer, Cold Storage Devices, and Ethereum  
The owner of the cryptocurrency news outlet, Forklog, Anatoly Kaplan.During the search, Mr. Kaplan details that SSU agents confiscated his laptop, and several cold storage devices. Moreover one of the SSU agents tried to transfer some of Mr. Kaplan’s bitcoin funds to another address during the search. According to Mr. Kaplan, the only reason the agent stopped is because his lawyer called, and threatened the agents with robbery charges. However, the officials still confiscated Mr. Kaplan’s devices, and the very next day a large sum of ethereum was transferred from Mr. Kaplan’s wallet to another address.
“I believe that this strange situation perfectly illustrates one of the possible scenarios for the state-crypto community relationship — That is why we decided to make this public,” Anatoly Kaplan tells “It’s not as much about protecting my personal interests as it is about protecting the interests of the entire community. This sends a warning to everyone who is in any way connected to bitcoin and blockchain technologies. It doesn’t matter if you are a public figure.”

Right now we are trying to return what we believe was unlawfully seized from us. We find the attempts to transfer cryptocurrencies to wallets controlled by SSU agents to be an extremely strange practice — During the search my lawyer has detected a score of other procedural violations, including turning off the camera.

A photograph of the SSU raiding a media outlet earlier this year for printing anti-Ukrainian government messages. The Ukrainian Security Services’ ‘Search Season’ Now Targets Cryptocurrency Related Businesses
Mr. Kaplan and his lawyer say this isn’t the first time SSU agents have harassed and seized the property of individuals involved in the tech industry. ‘Search Season’ as it’s called in the Ukraine, started in early 2015 as SSU officials have been raiding well-known figures in the IT industry from time to time. Bitcoin and blockchain related startups “are no different,” says Mr. Kaplan describing a Ukrainian case involving the Kuna Bitcoin Agency. Kuna’s founder Michael Chobanian also had his residential apartment searched by SSU officers. Further, even more recently Mr. Kaplan says SSU officials have raided mining farms this year as well.
Forklog and Mr. Kaplan’s attorney say they are going to take legal action against the SSU agents involved with Forklog’s illegal search and seizure.   
“We expect a prompt and proper reaction from the authorities and a swift return of seized Imacs. As for the return of seized cryptocurrency and SSU agents’ legal liability, I can only say that this will be a highly emblematic and evincive case,” Mr. Kaplan’s lawyer concludes.
What do you think about Forklog and other cryptocurrency related businesses being harassed by SSU agents? Let us know what you think about this case in the Ukraine in the comments below.
Images via Shutterstock, Pixabay, and Forklog.  
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How Dorian Nakamoto Became Satoshi Nakamoto


In 2014, Newsweek doxxed Dorian Nakamoto, an unassuming senior, as the creator of bitcoin. The bumbling Dorian, who claimed never to have heard of the digital currency, was besieged by journalists for days, prompting him to plot a harassment lawsuit. As introductions to bitcoin go, Dorian’s was hellish. And yet, three years on from the false dox, something strange has happened: Dorian Satoshi Nakamoto has embraced the bitcoin life and assumed the persona of his faceless namesake.
Also read: “There Will Only Be One” – an Interview With Viabtc Founder Yang Haipo
Would the Real Satoshi Please Stand Up
At Bitconf 2017, a gathering of bitcoin luminaries and blockchain startups held on December 4-5 in Colombia, there were the usual faces including veteran cryptographer Nick Szabo. Also in attendance was an elderly Japanese-American whose hobbies include model trains and who has struggled to find work for the past decade, save for brief stints as a laborer, poll-taker, and substitute teach. Dorian S. Nakamoto.
How did the man once misidentified as the creator of bitcoin wind up thousands of miles from home at a bitcoin conference? A man who was once forced to issue a statement through his lawyer noting:

Newsweek’s false report has been the source of a great deal of confusion and stress for myself, my 93-year old mother, my siblings, and their families.

In the three years since Dorian was misidentified as Satoshi, a lot has happened to bitcoin. And a lot has happened in the life of the now 67-year-old who got off on the wrong foot with bitcoin. In the intervening years, Dorian’s stance on the cryptocurrency has softened. At the fifth annual Bitconf in Bogotá, Dorian Nakamoto looked relaxed. He seemed to be relishing his role as the fake Satoshi, and even attended a press conference with the event’s organizers.
Dorian Nakamoto faces the press at BitconfThere, he shared his perspective on winding up unexpectedly as the face of the world’s hottest digital currency. Dorian recalled the first time he learned of bitcoin, after son Erick contacted him to report that a journalist had been digging into his background. He added:

[They] approached my wife and asked her personal things. And I did not like it when they approached my children later. Why would I involve my children? I am not a superstar, I am not a public person…I believe in freedom of expression, but I do not believe that the media should take a person from his private life and wash his dirty laundry, including my medical history, including my recent battle with cancer.

A Self-Fulfilling Prophecy
The two Satoshis: part of Telegram’s “Blockchain” sticker packDorian Nakamoto wasn’t Satoshi Nakamoto in 2014 and yet, to all intents and purposes, that’s effectively what he’s become. Being identified as the creator of bitcoin, despite the scrutiny it invites, can also be lucrative, as Craig Wright, “the other Satoshi” can attest. Despite Wright’s claims to have invented bitcoin being disproved, the Australian seems to have had no trouble securing funding since then for his work on blockchain scaling.
Few would begrudge Dorian Nakamoto, “the original Satoshi”, a chance to cash in on his e-fame and have a little fun in the process. Even without the elderly man’s say-so, he’s become the face of bitcoin, his “Nope” reaction face having been memed hard and purposed for everything from Telegram stickers to t-shirts.
Memed Into Being
At Bitconf, Dorian S. Nakamoto spoke of his discomfort at being doxxed as Satoshi and the protracted legal battle that ensued. Unemployed and strapped for cash, Dorian confessed: “I had to make a big decision. Should I fight Newsweek or not? And finally I said no.”

The former teacher hasn’t warmed to the publication in the years since, but the bitcoin community has warmed to Dorian – and the occasionally cantankerous grandfather has reciprocated. It’s a happy end to an unhappy story.
For conspiracy theorists, the sight of Dorian Nakamoto rubbing shoulders with the likes of Nick Szabo at bitcoin conferences is evidence that perhaps Newsweek were onto something after all. Could Dorian have found a way to become the face of his creation, whilst dissuading attempts to steal his multi-billion dollar fortune? If so, it would have to go down as Satoshi’s smartest trick yet. We will likely never know the true identity of Satoshi Nakamoto, who now may rank among the 50 richest people in the world. In his absence, substitute teacher Dorian S. Nakamoto seems a fitting choice to become the substitute face of bitcoin.
Do you think Dorian Nakamoto has been treated harshly by the press? Let us know in the comments section below.
Images courtesy of Digitaltrends.
Keep track of the bitcoin exchange rate in real-time.

Trading Bitcoin for an Altcoin Won’t Shield You From the IRS Anymore


Any American bitcoin investors who were hoping to avoid paying taxes for their profits this year by trading them for altcoins are in for an unpleasant surprise. New regulations have been tailored specifically to make sure U.S. taxpayers can’t use this method to avoid giving the IRS their cut.
Also Read: South Africa Wants to Track and Tax Bitcoin Trading
Bitcoin to Altcoin is Not a “Like Kind” Exchange
Until today a crafty tax attorney or accountant could have tried claiming that trading bitcoin for another cryptocurrency is not a taxable event, but U.S. authorities are now moving in fast to plug this loophole. The latest tax bill contains clarifications which make this a non-valid tax-minimizing strategy going forward.
The issue arises from the IRS categorizing bitcoin as property, which can be argued makes crypto to crypto trades “like kind” exchanges under Section 1031 of the Internal Revenue Code. The new tax bill defines “like kind” exchanges to pertain only to real estate deals. To make things as clear as possible, this means that if you trade bitcoin for tether (USDT) for example, that is a taxable event.
“Some people think, ‘I’m taking my bitcoin, which the IRS has deemed to be property, swapping it for another property and doing it for investment reasons,’ so it sounds like it could be a 1031 exchange,” Evan Fox, tax manager at New York accounting firm Berdon, told CNBC. “I think it’s a stretch.”
The Current Framework
According to the current tax framework, Americans need to self report their bitcoin trading profits and calculate their dues according to their tax brackets. Selling after holding the asset for less than a year qualifies as a short term investment and is taxed between 10% to 39.6%. Selling bitcoin after holding for over a year is qualified as a long-term investment and taxed up to 20%. Conveniently, if you traded over $20,000 with Coinbase the IRS already has your records.
“If you put money into the cryptocurrency space, and you decide to buy (an altcoin), and you one day monetize it and show up with a $2 million house, the IRS is not stupid,” Fox said. “Money doesn’t just appear out of nowhere.”
The IRS can also decide to audit someone’s tax going up to three years back and is known to use the services of  Chainalysis, a blockchain analysis specialist, to hunt down bitcoin users for evading taxes.
“If a few years from now the IRS is able to decode what happened, and you made a significant amount of money in 2017 and didn’t report it, you’ll face interest and penalties that have been accruing,” Fox explained. “It might be a risk some people want to take, but there are some bad consequences if you get caught.”
Could tax authorities crack down on altcoin exchanges to make sure investors aren’t hiding bitcoin gains? Share your thoughts in the comments section below!
Images courtesy of Shutterstock.
Want to create your own secure cold storage bitcoin paper wallet? Check our tools section.

Brainwallet: The Bitcoin Wallet That’s All in Your Head


If the safety of your bitcoins is keeping you awake at night, perhaps it’s time you considered a more secure solution. Exchanges can be hacked, smartphones can die, and hardware wallets can be lost. For the ultra-paranoid, there’s only one storage option that’s impregnable to all known attack vectors – the brainwallet. If you get it right that is.
Also read: New Wallet from Opendime, the Coinkite Coldcard, is Cypherpunk Cool
Bitcoin on the Brain
Bitcoin is thought of as a digital currency, but unlike Paypal or credit card, it’s equally suited to the analogue world. You can’t spend bitcoin offline, but you can store it in the form of a paper wallet (saving the pass key on a piece of paper). Take that approach one step further, by removing the paper, and you’ve got yourself a brainwallet. It’s the only bitcoin wallet that’s 100% impervious to phishing or hardware failure. If you die, the wallet dies with you, but by that stage, bitcoins – and indeed life itself – will no longer be your concern.
That feel when too brainy for a hardware wallet.Creating a brainwallet is as simple as memorizing the wallet’s mnemonic recovery phrase. For those who desire the ultimate in privacy and discreteness, it’s possible to memorize the wallet address too. That way there’s no paper or digital trail tying you to your coins.
There are numerous reasons why it may be desirable to create an invisible wallet. Paranoia, primarily, but it’s also a neat solution for anyone who trusts their memory better than they trust third party technology. For “persons of interest” passing through U.S. customs, for instance, a brain wallet is one repository that’s guaranteed to be off-limits to curious TSA agents. They can rifle through your hard drive but, for now at least, they can’t rifle through your head.
How to Create Your Own Brain Wallet
To make your own brainwallet all you need is a brain and a mnemonic seed generator. Electrum, Armory, and Mycelium will all do the trick. There’s also, a deterministic bitcoin address generator. It explains: “Store bitcoin in your brain by remembering your passphrase and salts. Address generation takes place in your browser, and no information is ever sent to our server.” The site’s Github repository can be inspected for those of a cautious disposition – and if you’re considering a brainwallet, that’s you.
There aren’t many do’s and don’ts when it comes to generating a brainwallet, but the following is an absolute don’t – don’t use an existing phrase as your passphrase. People have created scripts that can search through millions of wallet addresses and try known phrases against them. Thus, your favorite biblical scripture or Katy Perry lyric is out of the question. Instead, use a genuinely random sequence of words. To ensure true randomicity, lets you drop any file into the text box. Your browser will then perform a SHA256 hash and use the checksum as your passphrase.
What does your memory palace look like?How to Remember Your Mnemonic Passphrase
The simplest way to ensure you never forget your passphrase is to write it down and store it in a very safe place. That’s fine if you’re traveling to a different country, as you can leave a backup at home in case your memory fails you. Writing down a brainwallet kind of defeats the point of creating one though. If you want to stay true to the spirit of the game, you’re gonna need to remember, and remember good. To do so, you’ll want to create a memory palace.
The seed provided as an example on bitcoin wiki’s brainwallet page is as follows:
witch collapse practice feed shame open despair creek road again ice least
To memorize this, you’d take a familiar place – your childhood home perhaps – and construct a visual sequence: You open the door to your house to find a witch staggering about in the hallway. She’s having a heart attack and is about to collapse. As you’re preparing to practice your CPR, she sinks her teeth into your neck and begins to feed on your jugular.
Yes, memory palaces are very silly, but that’s what makes them so effective. Moonwalking with Einstein: The Art and Science of Remembering Everything is an excellent read for anyone with an interest in such matters. Creating a brainwallet may seem excessive, but so long as you can recall your seed, it’s guaranteed to keep hackers and quantum computers at bay. And at zero dollars, it’s infinitely cheaper than a hardware wallet.
Would you trust your memory enough to use a brainwallet? Let us know in the comments section below.
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