casino-web-scripts

Casino Web Scripts Releases Three New Crypto-Themed Games

Following the success of Bitcoin Billion, the crypto-themed slot game that it released in 2018, Casino Web Scripts has taken yet another leap by adding three more games to its portfolio. The three new games that the game developer currently has under its belt include a dice game and two tile-guessing games – the latter are very similar to the insanely popular Minesweeper game.

The Dice Game

Casino Web Scripts new dice game is referred to as Crypto Diceometer and it is a provably fair casino game that boasts of a number of mind-blowing features. The game has some pretty simple rules and includes some very smooth and exciting animations which make the gaming experience truly exceptional.

When it comes to gameplay, all that players need to do is guess the correct sum on the dices that pop up on their screens. This sum has to fall within an interval which the player must select before the dice ate thrown. Very simple, isn’t it? For this reason, the game is a great pastime option for just about any kind of player since no gambling skills are required.

The Tile-Guessing Games

The first of the two new tile-guessing games is Rock Paper Scissors Tile-Adventures. In this game, the player is required to select Rock, Paper or Scissors after which they will reveal a tile that they can beat with the selections. Here, the goal is essential to reveal as many winning tiles as possible.

Next, we have the Crypto Persian Prince tile-guessing game. As its name suggests, this unique game comes with an Arabian nights theme that will certainly appeal to any player who looks good-looking titles. The amazing tile-guessing game is all about testing one’s luck – the players are tasked with revealing as many magic lamps as possible without coming across as a thief. If you are lucky enough you might even get to land the game’s huge jackpot.

More to Come

Casino Web Scripts reportedly has plans for even more crypto-themed games especially now that the cryptocurrency market has regained its high value. That said, we can look forward to many new card games as well as a new version of slot tournaments.

This is, of course, going to be made easier due to the fact that Casino Web Scripts has already established itself as a reputable market leader when it comes to the creation of high quality and popular games and software. Its products and services are used by several popular online and mobile gaming companies.

Vivo-gaming

Vivo Gaming, BitcoinCasini.io Partner for Live Gaming

BitcoinCasino.io has recently implemented some huge improvements to its gaming platform by adding Vivo Gaming’s extensive library of live casino games. The platform’s customers will now have access to a plethora of amazing slots, as well as various variants of roulette, craps, baccarat, bingo, and poker.

Vivo Gaming is a renowned developer of liver dealer gaming solutions that specializes in the aforementioned live dealer games in addition to sports betting software, RNG games, and other digital gambling solutions. With over 15 years’ worth of experience in the gaming industry, the digital solutions provider has built a reputation for being the supplier of some of the best live dealer gaming products for online gambling operators.

As it stands, Vivo Gaming holds a total of two licenses from First Cagayan and Curacao Gaming – the First Cagayan is the “first gaming jurisdiction that allows gambling establishments to operate in Philippine’s Cagayan Special Economic Zone”. Furthermore, the company is also certified by the renowned Gaming Labs which is responsible for making sure that the software suppliers comply with international gaming standards and regulations

What It Offers

Vivo Gaming is a great partner for a number of gaming platforms, particularly because it offers non-stop gaming services to the operators. This is made possible by the fact that the company streams their games from a number of different places including Costa Rica, Curacao, Asia, and many other places. Its outstanding services has seen it partner with many of the top gaming providers including BetSoft Gaming and Rival Gaming.

Moreover, the digital gaming solutions provider has worked hard to develop all of the fan-favorite traditional casino table games and many other Asian games like Sic Bo – these are available in the live dealer format. Unfortunately, its game portfolio is only available on Android-powered devices at the moment. However, there is a possibility that the company may be working on a dedicated app for iOS-powered devices.

Good News for BitcoinCasino.io Players

One of the most notable features that BitcoinCasino.io players will now be able to enjoy is the ability to play Vivo Gaming’s live dealer suite and simultaneously bet on multiple tables through the Multi-Game Play window. In addition to that, the platform will also be able to incorporate multi-use, multi-lingual and multi-currency interfaces as well as mini side-game betting during various games.

Even more exciting is the fact that the live dealer games will allow the players to talk to the dealer as well as other players. This will be possible across a wide range of devices including desktops, tablets, and even mobile devices.

FortuneJack

FortuneJack Taking Bitcoin Gambling to the Next Level

FortuneJack, an online crypto-based casino that allows its users to enjoy the real casino from the comfort of their homes has been all the buzz lately thanks to its wide array of dice games, different kinds of online slots, betting games and roulette.  Having been around since 2013, the gaming platform has built a reputation for itself as a provider of top-notch gaming experiences that have recently been complemented by the launch of their new mobile gaming platform that is definitely going to resonate with the modern breed of gamers who love to do everything on the go.

Being one of the pioneering crypto-powered gaming platforms, FortuneJack has grown to become a household among crypto gamers. To make things even better, the platform has managed to significantly puss up its portfolio of digital currencies – in essence, it allows you to place bets using virtually any mainstream cryptocurrency. The list of available digital currencies includes bitcoin, Ethereum, Litecoin, Dogecoin, Zcash, Dash, Bitcoin cash, and Monero.

Other Perks

The impressive number of supported currencies aside, FortuneJack has a ton of other great features that will certainly appeal to almost all kinds of players. In essence, the platform checks all the right boxes and thus it is likely that it will have most of the features that are found in other top online gambling sites.

One of the most notable of these features is the FortuneJack design as well as its user experience, both of which have been improved significantly over the years. Even the recently introduced mobile version of the site is, by all means, just as good or even better than most of the available online casino offerings. Now only does the apps feature an extensive game catalog but it also packs better navigation features that make playing on it a breeze regardless of where you are using a smartphone or a tablet.

More importantly, safety and security are key considerations for players in the modern age especially with regards to financial transactions. FortuneJack features provably fair games that are decided by a truly defined by a truly random RNG (Random Number Generator). Combined with the power of blockchain technology, the platform offers some of the best security features in the online gaming industry.

In addition to all this, FortuneJack also has a neat portfolio of games that are compatible across all compatible devices. More recently, the company recently debuted a Bitcoin Sportsbook that allows players to bet on a wide range of sporting events including basketball, hockey, soccer, volleyball, and football. Moreover, the online gaming platform also offers a ton of promotions such as free spins as well as weekly promotions like cashback and decreased house edge as well as many others.

crypto-hack

Cryptocurrency Exchanges Lost More Than $1.5 Billion in 2018

2018 was indeed a monumental period for the cryptocurrency community primarily because of the various highs and lows of the industry as well as the many innovations that we got to see. Some of the most notable occurrences were the loss of funds by a number of exchanges all over the world. It was hard to keep track of the amounts but now, thanks to a Q4 cryptocurrency Anti-Money Laundering report that was published by CipherTrace, a blockchain intelligence agency, it has been revealed that criminals stole a whopping $1.7 billion of cryptocurrency last year. The company further pointed out that cryptocurrency theft is still on the rise despite the freefalling prices of cryptocurrencies as well as the savage bear market that the sector has been subject to.

Of the $1.7 billion that was stolen from the crypto exchanges and wallet providers, $950 million went to hackers. This was 3.6 times more than what was recorded in 2017 which further shows there is one increase in theft despite market drops – the price of bitcoin, for instance, has dropped in value by almost 80 percent. Obviously, this is a very worrying statistic especially for an industry that is trying very hard to achieve mainstream adoption.

The Reasons

As it turns out, many of the existing exchanges have been in operation for no more than two years and most of them do not have sufficient safeguards in place to prevent hackers from stealing their funds. The lack of these safeguards makes it possible for hackers to obtain simple files of cryptographic private keys and each can be worth anywhere between $30 million and $500 million. While this is the case with most companies, it is also worth noting that not all crypto-related businesses are not immature in terms of funding, implementation, and training – the tools and methods used by hackers are also becoming more and more sophisticated which means that even established companies that are considered to have better safeguards can lose funds or data due to hacks.

At least $725 million of the stolen crypto funds came from “inside jobs” which included exit scams, fraudulent Initial Coin Offerings (ICOs) and Ponzi Schemes.

Proposed Solutions

According to Dave Jevans, the CEO of CipherTrace and co-chair of the Cryptocurrency Working Group at the APWG.org, the cryptocurrency sector needs to implement huge improvement to their infrastructure and increasing education in order to prevent such kinds of attacks. Such measures could involve the use of robust anti-phishing measures, cold storages as well as data sharing and behavioral analytics. Fortunately, thanks to the global wave of regulations that will be going into effect anytime this year, laundering of digital currencies by hackers and criminals will be much harder to do. Hopefully, it gets better from there.

btc-tax

UK Lawmaker Proposes Tax & Utility Bill Payments in Bitcoin

Eddie Hughes, a Conservative UK Member of Parliament is calling for local authorities in the country to take the lead and begin accepting tax and utility bill payments in bitcoin. According to the politician, bitcoin and the underlying blockchain technology both have great potential but the lack of reliable or adequate information and knowledge in this regard is one of the things that is preventing wider adoption.

“You’re either ahead of the curve or you’re behind the curve,” he said in a recent interview.

In the interview with the Daily Express, the lawmaker pointed out that the country is in a very interesting position especially because it hopes to be seen as a progressive nation. While the United Kingdom is still at crossroads, the decision to adopt the use of cryptocurrencies could prove to be very beneficial in the near future. If this is to happen, people will first have to understand how the transactions work and see how accessible the technology can be – ideally, the technology needs to appear like an app that can be used to make fast, safe and secure payments.

Being that the technology is talked about a lot in, the member of parliament feels that all the other lawmakers have a duty to understand it, something that will then enable them to make more informed decisions pertaining to the technology. Hughes further cited the Royal National Lifeboat Institution which is currently accepting charitable donations through cryptocurrency – this particular use case proves that bitcoin and other digital currencies can be used for many other services as well.

“The state should focus its attention on using blockchain to enable social freedom, to increase efficiency, and to rebuild societal trust,” Hughes stated.

This is, however, not the first time that Hughes has publicly supported cryptocurrencies and blockchain technology. Back in July, he wrote a report that called for the state to appoint a ‘Chief Blockchain Officer.’

Is This Possible?

Accepting taxes and utility bills in crypto would definitely be a good start for the crypto community and the country. However, regulators in Europe have been very skeptical about cryptocurrencies especially because digital currencies are very volatile and risky and are often associated with such vices as terrorism, fraud and money laundering. These European regulator’s alarmist entreaties have mounted quite a lot of pressure on the government of various European countries to implement some very stringent regulations that are supposedly meant to protect the public and investors while at the same time preventing the risk of financial instability.

As it stands, the future of crypto in the UK is even more uncertain thanks to a revelation by the country’s Finance Conduct Authority that it is considering banning crypto-linked derivative products. All these will be looked into in the first quarter of 2019.

bitcoin-price

Bitcoin’s Price Dwindles as Its Dominance Increases

Bitcoin has been on a steep downward trend for the past few weeks. In general, the market has not been very stable with a number of people hoping that it the market will stabilize very soon and bitcoin can regain even a little of the value that it lost in the past month. Both bitcoin and Ethereum, the two most popular cryptocurrencies have had their prices drop by over 40 percent particular because of the rapidly increasing sell pressure and the declining buy pressure. As a result, the crypto market has been struggling to sustain some sort of momentum in a bid to reverse the downward trend but, of course, it might be a while before this happens.

To put this into perspective, when the price of an asset falls significantly without any significant spike in volume, it is representative of a free fall albeit without much sell pressure. This implies that as big sell volumes continue to hit the market, the price of the said asset will be at the mercy of additional sell-offs in the future.

This Is Not the End

Even though bitcoin has undoubtedly had quite a month, it did not take nearly as much a hit as many other digital currencies. In fact, in November, bitcoin’s share of the total cryptocurrency capitalization or rather its dominance saw a notable increase. Over the course of the month, bitcoin’s dominance has spiked from lows of 51 percent in early November to the prevailing 53 percent, something that goes further to prove the digital currency’s appeal to both miners and investors.

Despite the fact that there have been lots of talk about the demise of bitcoin, especially over past two weeks, it is worth noting that the cryptocurrency’s price is still more than what it was last year in the summer. Furthermore, bitcoin has been building quite a loyal customer base over the past decade and there is still a growing appetite for crypto all over the world.

Institutional Investors Are Still Hopeful

It is not only individuals within the crypto community that are still confident about bitcoin. The traditional financial services industry and a number of institutional investors including New York exchange operator, Nasdaq, are still pursuing ventures involving the digital currency. According to Bloomberg, the company on November 27 announced that it is moving forward with its plan to list bitcoin features, a market that it hopes to officially launch in with the first quarter of 2019.

Sources close to the matter have also revealed that the New York exchange has been working closely with the Commodities and Futures Trading Commission (CFTC) to receive regulatory approval for its plans to operate as a compliant bitcoin futures market service provider. There is a huge window for success but knowing how shaky the crypto market can get, it remains to be seen just how far these projects will go.

bitcoin-united-states-us-flag

Michigan Bans Use of Crypto as Political Campaign Donations

The Michigan Department of State has formally barred digital currencies from being used as donations for political campaigns. According to a letter that was published last Thursday by the state’s Secretary of State, the law does not recognize crypto and associated virtual assets as political campaign donations because their values cannot be determined with absolute certainty.

This was in response to a letter from William Baker, a Michigan State Legislature candidate, that outlined some of his opinions on why state politicians should be allowed to receive digital currency campaign donations from their supporters. In the letter, Baker points that cryptocurrencies are a valid way to receive payments and donations and thus political campaigns should be no exceptions. He however also acknowledged that there were such issues as recording the value and utilization of these digital currencies that still need to be resolved.

“With some modest record keeping, donations of digital currencies can be an additional method of raising funds for political campaigns in the coming years, just as the internet first allowed political based websites to collect credit card donations roughly twenty to twenty-five years ago,” Baker’s letter read.

As it stands, Michigan politicians are allowed to accept non-monetary political campaign donations, which, much like most digital currencies rarely hold and a precise or value.

State Department Disagrees

The Michigan Secretary of State, Ruth Johnson, responded to Baker’s letter by stating that bitcoin and other digital currencies may not be used to make political campaign donations simply because “the value of these crypto assets is not fixed, and their volatility makes it impossible to assign an exact dollar value to them in administrative terms.”

“In the context of a contribution under the MCFA, an ascertainable monetary value is one that is exact, precise, and certain or can be determined with certainty. Where it cannot be determined the exact or precise dollar amount for a contribution made with Bitcoin at the time it is given, there can be no ascertainable monetary value,” an excerpt from the Michigan State Department’s letter read.

The State Department’s letter further compared digital currencies, more so bitcoin, to a security – it quoted legal precedents which effectively restricted the use of any financial assets save for those held by banking institutions for use in campaigns. Still, the department did acknowledge that bitcoin is analogous to a security, that is, both cannot be used “in and of themselves to purchase goods or services”, something that many crypto enthusiasts consider to be a highly contestable claim.

The main takeaway from the letter is that the crypto campaign donations are effectively illegal in Michigan mostly because of the reasons stated above and because the reporting requirements do not allow for multiple recordings that are required to capture various values that are likely to be held by digital assets at various points in the process.  These include such issues as the date of receipt by the candidate, the date of sale to the donor as well as the date of record on a campaign statement.

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UK Regulator Considering Ban on Sale of Crypto Derivatives

On October 29, the United Kingdom’s Cryptoassets Taskforce released a report that detailed its proposal for changes to some of the crypto regulation and raised a number of concerns over the way digital currencies and associated assets are used and traded. The taskforce which was launched earlier this year in March comprises the Financial Conduct Authority (FCA) and the Bank of England (BOE) was tasked with regulating and supporting cryptocurrency-related technologies.

Due to the lack of a widely accepted definition of crypto assets as well the variations in the value and rights that they bestow their holders with, the task force developed a framework that classifies crypto assets into three categories – that is, crypto assets for investment, for use as a means of exchange and for supporting capital raising and the development of decentralized networks through ICOs.

The report explained that, due to their extremely high volatility, failure in use as a unit of account and poor acceptance, crypto assets that are meant to be used as a means of exchange cannot be considered to money or currency. On the other hand, if the crypto assets are used as an investment they would reportedly have the potential to widen access to new investment ventures. However, the report went on to acknowledge that at the current market state, these cryptocurrency assets also have the potential to expose users to varying degrees of risks including illicit or criminal activities.

As for the so-called Initial Coin Offerings (ICOs) the report stated they are very promising ventures especially because most of them present several opportunities that would be great for supporting innovation and competition, addressing certain financing gaps, improving efficiency as well as the creation of a new investor and customer base.

The FCA To Act

With all these in mind, the Financial Conduct Authority (FCA) is reportedly mulling over a potential ban on the sale of crypto derivatives specifically because it believes that digital currencies hold no intrinsic value.

“Given concerns identified around consumer protection and market integrity in these markets, the FCA will consult on a prohibition of the sale to retail consumers of all derivatives referencing exchange tokens such as Bitcoin (BTC), including CFDs, futures, options and transferable securities. The proposed prohibition would not cover derivatives referencing crypto assets that qualify as securities, however CFDs on securities would remain subject to [the European Security and Market Authority’s] temporary restrictions and any future FCA proposals to implement permanent measures in relation to CFDs,” a statement by the FCA reads.

The regulator is also reportedly expecting to launch a wide consultation into whether or not the ban will be a good idea within the first quarter of 2019. Hopefully, the United Kingdom will not go the “Indian route” by completely banning crypt, a move that would be quite devastating considering how deep-rooted digital assets are in the region.

liquid

Blockstream’s Liquid Network Launches for the BTC Blockchain

One of the major setbacks for the mainstream adoption of cryptocurrencies has been the difficulty and slow nature of crypto settlements, especially where large volumes of these digital assets are involved. There have of course been attempts at fixing this problem with the so-called sidechains that promise faster transactions but the pace of the developments has not been as reassuring as many people had hoped for. The Lightning Network, for instance, has managed to gain quite a lot of traction in the past several months but its use of nodes with limited capacities has been quite detrimental to its growth, to say the least.

Now, Blockstream, a San Francisco-based blockchain technology company may have finally found a solution to the problem. Referred to as the Liquid Network, the company’s new bitcoin sidechain is set to revolutionize the crypto space by allowing for faster and more secure digital currency and asset settlements with an emphasis on the larger volume settlements. The sidechain which will be connecting institutions, crypto exchanges, and even brokers partnered with 20 exchanges at launch, a move that is certainly bound to improve its standing in the crypto space and speed up its adoption at the same time.

“Liquidity across exchanges is definitively not there yet. With the advent of Liquid — with faster settlement times — we should be able to improve it by making it faster and easier to transfer,” Samson Mow, Blockstream’s Chief Strategy officer said.

How It Works

According to Samson Mow, the members of the Liquid Network and the exchanges will be the main providers of liquidity since they will be the ones responsible for keeping a balance of L-BTC that they would, in turn, allow their users to swap. The Liquid Network’s design is a bit of a twist of the original concept of the sidechain which was initially pitched as a means for trustless swaps – Blockstream’s spin requires the intermediaries to execute the swaps themselves.

“When someone wants to move BTC to the Liquid sidechain,” Mow went on to explain. “they send it to a unique peg-in address. When someone is ready to move their money back to the Bitcoin blockchain, they can make a peg-out transaction that will tell the [Liquid members] to send Bitcoin to the desired address.”

Contrary to what many people would assume, the Liquid Network is not a replacement of the Lightning Network. In fact, in the blog post that announced the launch of the project, Blockstream clarified that the Liquid Network is capable of adding the Lightning Network as a second layer which makes the two technologies complimentary as both of them are vital to the crypto ecosystem.

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Institutional Investors Making Huge OTC Crypto Purchases

While most of the world expected the bitcoin ETF to be the tipping point that would allow institutional money to come into the cryptocurrency market, it seems like the institutional investors have once again had their way despite the uncertainty that looms over the BTC ETF. In fact, according to recent OTC Trade Data, these institutional investors now dominate bitcoin markets with high volume trades. Yes, that is right – institutional investors are becoming more and more involved in the $220 billion cryptocurrency market than many people may realize and this is perhaps because they have been using back-doors for the purchases.

Many people believe that the next bitcoin bull run will be entirely driven by institutional investment which will be encouraged by the acceptance of a bitcoin ETF such as the those that are currently in the works at the United States Securities Exchange Commission.

The Current Situation

While some crypto market data analysts and providers estimate that the daily trading volumes of bitcoin are at around $4 billion, ShapeShift’s Coincap.io has revealed that the actual trading volume of bitcoin falls at around $2.7 billion. Coincap.io further revealed that, for most of the large-scale investment companies, institutions, and retail traders, the global crypto market has not reached enough liquidity to process the multi-billion-dollar trading orders. In other words, major digital asset trading platforms could liquidate large orders but it may have a large impact on the short-term price movement of cryptocurrencies.

Over the Counter (OTC) Trading

A number of high-net-worth individuals have been buying into cryptocurrencies and considering the amounts that they have been spending, it is safe to assume that these “individuals” are institutions or are at least part of them. As mentioned above, a peek into recent OTC trading data reveals a huge interest in bitcoin from these supposed institutional investors.

“Bloomberg reports that in April, daily OTC trades varied anywhere between $250 million and $30 billion, while exchanges only handled about $15 billion daily in that time by contrast. Corroborating this, Circle Financial CEO Jeremy Allaire confirmed that his company is seeing a triple-digit increase in OTC volumes. By contrast, according to data from CryptoCompare, exchange trade volumes are down 80 percent from their peaks at the same time as the increasing popularity of OTC,” reads Cryptoglobe’s comment on the issue.

This over-the-counter crypto market has facilitated between $250 million an $30 billion in digital currency trades per day in April, according to researchers. But, why is this happening?

Well, as it turns out, large digital currency traders like private sales simply because exchanges can move coin prices. Private sales are more appealing since the trading parties can fix the price in advance instead of having to worry about the fluctuations that are rife in the crypto market. Also, exchanges sometimes limit the number of coins that can be traded and this is certainly not ideal for large traders.