Blockstream Launches Crypto Tipping App

Blockstream has announced the release of Nanotip, which is designed to test Blockstream implementation of the Lightning Network
27 March 2018   558

Blockstream is the provider of blockchain technologies working mainly in cryptography and distributed systems. From fraud to counterfeiting, from security to confidentiality, from accountability to transparency, it has a mission to solve problems that undermine trust in today's financial systems.

Blockstream has stated that Lightning Network offers new possibilities for Bitcoin as it relies on unique payment requests, stepping away from the static addresses that create privacy implications when tipping on Bitcoin.

Blockstream lightning nanotipBlockstream Lightning Tip Box

On March 24 Blockstream has announced a solution for this problem with Nanotip, which is designed to test Blockstream implementation of the Lightning Network.

The nanotip LApp solves Lightning’s payment-request problem for tipping by creating a simple web server that writes Lightning payment requests on the fly. It gives each content provider their own tip-bot, but does it in a way that keeps those creators in total control, while giving them stronger privacy than a classic Bitcoin tipjar. Meanwhile, patrons of a creator or service can choose exactly who and how much they want to tip and will receive a Lightning invoice to do so with lightning speed.

Blockstream announcement

Moreover, on March 26, Blockstream has released Nanopos, a system for businesses with fixed-price items like, for instance, coffee shops. It work like that: the buyers choose their items and receive a QR code, which they can use to make a payment to the vendor’s Lightning Charge server.

Blockstream believes that Lightning Network can become the mechanism for everyday commerce, and will work on developing and improving the services.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   291

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.