Wounded BTC Miner charges Trading Repressions in China

Constant repressions on bitcoin trading in mainland China has led to a Taiwanese bitcoin miner in being shot by local bandits
16 April 2018   1405

According to Liberty Times` report (Taiwanese news source), the incident happened  on Saturday night, when two local killers had planned to meet a bitcoin miner with whom they had made a substantial investment.

The miner who has the surname Wu, had preliminary accepted 10 million Chinese yuan (approximately $1.7 million) from the two - surnamed Li and Gao - in order to take part Wu's bitcoin mining procedure. While the exact whereabouts of the mining facility remains unknown, the report hinted that the provision could be inside mainland China.

With nearly $370,000 of benefit, Wu declared in the report that due to pressuring  regulations on bitcoin trading in China, the income could not be exchanged at once for fiat currency, as per the two gangsters' demands - a factor that sparked a dispute at the appointment.

With the further development of things, Wu was shot in his ankle. The gangsters left  the crime location, but found themselves into the police seven hours later this incident. The police then affirmed the suspects were from local gangs.

While not the first occasion of a crime related to bitcoin in Taiwan, the case is definitely notable for the involvement of participants in organized  misdeed. The news also reveals another incident where the surging price of bitcoin over the past year has led to crimes involving armed aggressors. For example, the two events in Canada and the U.K. in January, when the thieves robbed bitcoin investors at gunpoint.

Also last week, Singapore's police reported about a case in which bitcoin brokers were stealed of some $300,000.

VeriBlock to Report on Mainnet Launch

VeriBlock believes their technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”
21 March 2019   79

Using the bitcoin blockchain to ensure the safety of altcoins, the VeriBlock project announced the launch of the main network. This is reported in a press release.

According to the developers, the VeriBlock technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”. The project is confident that this approach not only ensures the security of less popular networks, but also allows their developers to focus on innovation and functionality.

According to analysts of The Block, 25–45% of bitcoin transactions fall on VeriBlock. The VeriBlock network uses a consensus algorithm called Proof-of-Proof (PoP). The project seeks to ensure the safety of other blockchains by loading a snapshot of the altcoin registry into the BTC blockchain, using the OP_RETURN function and other methods to embed network state data.

The project’s website states that PoP allows altcoin networks to use the most protected Bitcoin blockchain with its Proof-of-Work algorithm.