Bitcoin in Brief Thursday: New Tech and a Quick Way to Make a Fortune in Crypto

The most important thing about bitcoin is the new freedom-enhancing innovations that the technology enables, but we know that’s not what everyone is looking for these days. So in today’s edition of Bitcoin in Brief we also feature a surefire way to make a quick fortune in cryptocurrency.



Also Read: Coinmint to Invest up to $700 Million in New York Mining Center

How to Make $120,000 in a Week

Are you too cautious to bet on ICOs? Sure they are all just bug-ridden trash, other than the outright scams. So why not make money off of that?

Guido Vranken, a software security auditor (white-hat hacker) from the Netherlands, has earned a cool $120,000 in just one week of hunting for bugs on the EOS code. He reported 12 vulnerabilities, for $10,000 each. As the EOS ICO brought in a whopping $4 billion, and evidently no shortage of bugs, this seems like a great way to fatten your wallet if you are willing to do the work. You can find their bug bounty program policy here to see what they cover and what not.

Thank you. A couple more waiting to be rewarded. I think the final tally was $120K but I lost count. Took me about a week. — Guido Vranken (@GuidoVranken) June 4, 2018

Ledger Wallet for Desktop Is Coming Soon

Ledger, the producer of the popular hardware wallet Nano Ledger, has announced that the release date of the new version of the Ledger Wallet desktop edition is now scheduled for July 9th, 2018. It will be available as native desktop application, supporting Windows, macOS, and Linux, so that users won’t require accessing the wallet via Google Chrome or Chromium anymore.

Quis Custodiet Ipsos Custodes?

Block Broker is the latest ICO to fall off the map, deleting all its social media presence and leaving investors to wonder if it was all an exit scam from the start. What makes this case interesting is that it was meant to “completely eliminate ICO fraud by creating a 100% safe investment environment.” The project promised a decentralized ICO investment platform to “ensure that fraudulent ICOs don’t get an opportunity to tarnish the booming industry.” Of course if you are going to trust a “team of experienced professionals” to somehow safely handpick investments for you in a decentralized way, you better make sure they aren’t scamming you first.

Strong Demand for Chinese Ghosts

And speaking about dishonest ICOs, reports from China indicate that there is still high demand for ghostwriters to produce Chinese whitepapers, despite the ban on the practice in the country. In fact, there are also many people advertising their services as ICO writers in China, offering a whitepaper for an average of 15,000 yuan (about $2,350), according to Securities Daily.

“One 20-page whitepaper in Chinese will cost 15,000 yuan, and the one that has 45 to 50 pages will cost 40,000 yuan,” one provider reportedly said. “An additional 7,000 yuan to 10,000 yuan will be charged for an English version. The service usually takes 7 to 10 days to complete,” the whitepaper provider added.

Virtual Crypto Technologies’ New Two-Way ATM

Virtual Crypto Technologies Ltd. (OTCQB: VRCP), an Israeli tech startup dedicated to making cryptocurrencies accessible to the public, announced that it will launch its bitcoin ATM at the Tech Crunch Tel Aviv event today. The Neto Bit ATM is a two-was machine that enables users to both buy and sell cryptocurrencies with fiat money.

Alon Dayan, CEO of Virtual Crypto, commented: “We continue to set standards for the burgeoning cryptocurrency sector. Our proprietary algorithm reduced the typical transaction time from [between 10 and 60 minutes] to [only] several seconds. At this stage, Neto Bit ATMs combine that speed with the convenience of an ATM, giving customers the ability to buy and sell bitcoin with fiat money. The result is a vastly improved trading experience for customers, which we believe will be attractive to our business partners as well as consumers.”

Bitcoin Cash on Money Week

Dominic Frisby, Money Week’s commentator on gold and commodities, and the author of ‘Bitcoin: the Future of Money?’ has written in the UK magazine yesterday about his impression of meeting BCH developers when looking for sponsors for his financial game-show. “I was deeply impressed with the ambition of the enterprise. They are really pushing this thing. In the coming weeks there are big deals for payments with major international merchants to be announced. They are building an enormous and ambitious payment infrastructure across all six continents. Owning the coin is like owning shares in the network, a network which is rapidly growing and well marketed. They want bitcoin cash to be used as widely as possible as a means of payment: to make sure it is actually used.”

Advising his readers if they should get BTC or BCH, he added that: “Bitcoin cash is more volatile and the downside risk is greater, but if you ask me which of the two is more likely to go up ten times from current prices, I’d have to say bitcoin cash.”

What do you think about today’s news updates? Are you going into bug hunting or ICO ghostwriting to make some change? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.