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Provable Solvency Report #70 – January 2020

Coinfloor is a custodian of client bitcoins and we believe that we must set the industry standard for transparency and regular audits. Without proper public accountability, the industry will not be able to grow and mature. This is why we are committed to releasing a Provable Solvency Report every month. Coinfloor is proud to have the longest standing track record among bitcoin exchanges in regards to auditing.

Today we are publishing our 70th monthly Provable Solvency Report with step-by-step validation instructions for your convenience.

As of today, Coinfloor holds a total of 3,815.4219 XBT on behalf of our clients. You are invited to verify that your held bitcoins are included in this balance by following the instructions below.

What does the Provable Solvency Report include?

We started out by creating an obfuscated report of all current client balances (the Solvency Report) and then generated a SHA-256 hash of this report.

We then created a bitcoin transaction to ourselves, that includes all currently held client bitcoins, for a value of 3,819.3338. XBT. The output of the script also includes the OP_RETURN of the SHA-256 hash of the report, proving that at the time of making the solvency report, Coinfloor held all of our clients’ XBT funds. You can verify the amount and details of the transaction on the blockchain.

Key Pieces of information:

Provable Solvency Report #70 (January 20th, 2020):
https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20200120.txt

SHA-256 Hash of the Provable Solvency Report: 1fa6c926cfda1639cd6d32e56c8002b83ca4b5eefc2cf4de4ea885bd0a3277bd

Transaction ID: b18053a66d1f0577231662596059f39e0bedaaa7fd42942a51e7e1c65a19c090

View the transaction here:
https://explorer.bitcoin.com/btc/tx/b18053a66d1f0577231662596059f39e0bedaaa7fd42942a51e7e1c65a19c090

Your API authentication cookie:
You will find it in My Account > Dashboard in the Coinfloor signed in view, in the API section (visible only for fully verified accounts).

Instructions for Validating Solvency Report:

1. Open the Provable Solvency Report file:

https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20200120.txt

2. Go to

https://passwordsgenerator.net/sha256-hash-generator/ or to your SHA256sum calculating application.

Copy the entire contents of the solvency report (including any leading or trailing spaces or blank lines) into the SHA-256 generator and calculate the SHA-256 hash of the report.

3. Go to

https://explorer.bitcoin.com/btc/tx/b18053a66d1f0577231662596059f39e0bedaaa7fd42942a51e7e1c65a19c0906

Click on the `SHOW ADVANCED` switch to view the OP_RETURN, where you will find the hash generated in the previous step matches the hash in the OP_RETURN output script of the transaction that includes all customer bitcoins.

Instructions for finding your account balance within the Solvency Report:

1. Go to

your local SHA1sum application

to calculate the SHA-1 digest of a message consisting of the timestamp shown at the top of the Solvency Report (1579519456) and your API authentication cookie.

Example (Linux):

    timestamp: 1579519456

    API authentication cookie (API Key): 9BTa7M0Z/Mrk6tFMJwEkTV3BQek=

    command: echo -n ‘15795194569BTa7M0Z/Mrk6tFMJwEkTV3BQek=’ | sha1sum

(the command may differ depending on the SHA1sum application used)

2. Find the resulting hash in the solvency report. Your balance is shown on that line in satoshi units. 1 bitcoin = 100 000 000 satoshis. For your convenience, here is a link to a bitcoin unit converter:

http://www.satoshi.24ex.com

We believe that this approach is the best way to achieve maximum accountability whilst retaining privacy for our clients. We welcome your feedback and hope that in time, other exchanges will also help safeguard client funds by providing proof of solvency reports to their users on a regular basis.

Thank you for your trust,

Coinfloor Team

image

Published

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Coinfloor is a custodian of client bitcoins and we believe that we must set the industry standard for transparency and regular audits. Without proper public accountability, the industry will not be able to grow and mature. This is why we are committed to releasing a Provable Solvency Report every month. Coinfloor is proud to have the longest standing track record among bitcoin exchanges in regards to auditing.

Today we are publishing our 70th monthly Provable Solvency Report with step-by-step validation instructions for your convenience.

As of today, Coinfloor holds a total of 3,815.4219 XBT on behalf of our clients. You are invited to verify that your held bitcoins are included in this balance by following the instructions below.

What does the Provable Solvency Report include?

We started out by creating an obfuscated report of all current client balances (the Solvency Report) and then generated a SHA-256 hash of this report.

We then created a bitcoin transaction to ourselves, that includes all currently held client bitcoins, for a value of 3,819.3338. XBT. The output of the script also includes the OP_RETURN of the SHA-256 hash of the report, proving that at the time of making the solvency report, Coinfloor held all of our clients’ XBT funds. You can verify the amount and details of the transaction on the blockchain.

Key Pieces of information:

Provable Solvency Report #70 (January 20th, 2020):
https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20200120.txt

SHA-256 Hash of the Provable Solvency Report: 1fa6c926cfda1639cd6d32e56c8002b83ca4b5eefc2cf4de4ea885bd0a3277bd

Transaction ID: b18053a66d1f0577231662596059f39e0bedaaa7fd42942a51e7e1c65a19c090

View the transaction here:
https://explorer.bitcoin.com/btc/tx/b18053a66d1f0577231662596059f39e0bedaaa7fd42942a51e7e1c65a19c090

Your API authentication cookie:
You will find it in My Account > Dashboard in the Coinfloor signed in view, in the API section (visible only for fully verified accounts).

Instructions for Validating Solvency Report:

1. Open the Provable Solvency Report file:

https://s3-eu-west-1.amazonaws.com/provablesolvency/+solvency_20200120.txt

2. Go to

https://passwordsgenerator.net/sha256-hash-generator/ or to your SHA256sum calculating application.

Copy the entire contents of the solvency report (including any leading or trailing spaces or blank lines) into the SHA-256 generator and calculate the SHA-256 hash of the report.

3. Go to

https://explorer.bitcoin.com/btc/tx/b18053a66d1f0577231662596059f39e0bedaaa7fd42942a51e7e1c65a19c0906

Click on the `SHOW ADVANCED` switch to view the OP_RETURN, where you will find the hash generated in the previous step matches the hash in the OP_RETURN output script of the transaction that includes all customer bitcoins.

Instructions for finding your account balance within the Solvency Report:

1. Go to

your local SHA1sum application

to calculate the SHA-1 digest of a message consisting of the timestamp shown at the top of the Solvency Report (1579519456) and your API authentication cookie.

Example (Linux):

    timestamp: 1579519456

    API authentication cookie (API Key): 9BTa7M0Z/Mrk6tFMJwEkTV3BQek=

    command: echo -n ‘15795194569BTa7M0Z/Mrk6tFMJwEkTV3BQek=’ | sha1sum

(the command may differ depending on the SHA1sum application used)

2. Find the resulting hash in the solvency report. Your balance is shown on that line in satoshi units. 1 bitcoin = 100 000 000 satoshis. For your convenience, here is a link to a bitcoin unit converter:

http://www.satoshi.24ex.com

We believe that this approach is the best way to achieve maximum accountability whilst retaining privacy for our clients. We welcome your feedback and hope that in time, other exchanges will also help safeguard client funds by providing proof of solvency reports to their users on a regular basis.

Thank you for your trust,

Coinfloor Team

image

Source: https://blog.coinfloor.co.uk/post/190363966206

Blockchain

Crypto Markets Shed $10 Billion in Hours as Bitcoin Loses $400 (Market Watch)

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After a sharp price jump towards $13,650 intraday, Bitcoin has retraced and trades around $13,200. The alternative coins continue to bleed out, and the total market capitalization has dropped below $390 billion.

Bitcoin To $13,650 And Back On ECB Stimulus News

Following the latest 2020 high, Bitcoin got rejected and lost nearly $1,000 of value in hours a few days ago. Since then, the asset has been struggling with the $13,000 level.

After another dip below it, BTC went on a roll yesterday. This resulted in a daily high of almost $13,700 (on Bitstamp). Interestingly, the impressive price increase came shortly after the European Central Bank said that it could seek a new stimulus package in December.

“The Governing Council will recalibrate its instruments, as appropriate, to respond to the unfolding situation and to ensure that financing conditions remain favorable to support the economic recovery and counteract the negative impact on the pandemic on the projected inflation path.”

More impactful news came from the US. The jobless claims fell to a 7-month low – a level not registered since before the COVID-19 outbreak.

Wall Street also felt the positive effects. The three most prominent US stock indexes closed Thursday’s trading session in the green. However, the futures contracts have dropped after hours.

Bitcoin has mimicked the stocks’ performance, but being a 24/7- traded asset, it started dropping shortly after Wall Street closed doors. BTC has lost about $450 and currently sits around $13,200.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Blood On The Altcoins Street

The situation within the alternative coin market is unfavorable, to say the least. As the graph below demonstrates, all alternative coins are in the red on a 24-hour scale.

Ethereum struggles with $380 after a 2.4% drop. Ripple’s near 4% decline has taken XRP beneath $0.24. Bitcoin Cash (-2.2%), Binance Coin (-7%), Chainlink (-6%), Polkadot (-9%), Cardano (-9%) have all lost significant chunks of value from the top ten coins.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Further losses come from the lower and mid-cap altcoins. Reserve Rights has dropped by 20%, Yearn.Finance by 17.5%, and Synthetix Network Token by (-17%).

Other double-digit price declines are evident from Ampleforth (-16.7%), ABBC Coin (-16.7%), Ocean Protocol (-16.5%), Compound (-14.5%), Band Protocol (-14%), Algorand (-13%), Ren (-13%), and more.

The total market capitalization has seen $10 billion evaporate in a day and $20 billion in two days.

Cryptocurrency Market Capitalization. Source: CoinMarketCap
Cryptocurrency Market Capitalization. Source: CoinMarketCap
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/crypto-markets-shed-10-billion-in-hours-as-bitcoin-loses-400-market-watch/

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Blockchain

Crypto Collateral Exchange Dsdaq Hosts Global Demo Trading Competition

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[PRESS RELEASE – Please See Disclaimer]

Hong Kong innovative crypto collateral trading platform Dsdaq is hosting a Global demo trading competition, to celebrate the launch of its demo account function.

Nearly 2,000 traders were attracted to compete for a total of 3000 USDT prize pool and free airdrop of Dsdaq platform tokens, the Original D or OD for short. Traders will use $100,000 demo fund as the initial margin and will be ranked by profit.

dsdaq

Trade with Dsdaq Demo Account and Win USDT

Dsdaq is very innovative considering that crypto traders can use their BTC, ETH or USDT as collateral to trade traditional financial assets such as stock, index, gold, oil, etc. “This feature is pretty new for most crypto traders so it is crucial to launch this demo trade function so that our users could explore the great innovation without investing real money’, said Sara, the spokeswoman of Dsdaq.

All competition participants need to do, once the competition starts, is to use the virtual funds provided in their crypto collateral wallet and to buy or sell any financial assets on the platform during the competition period from October 27, 2020 (6:00 am HKT) to November 6, 2020 (6:00 am HKT).

Enjoy market volatility during the competition

The competition is now heating up as participants begin to practice their trading skills to win the amazing prizes and the market becomes more volatile as time gets closer to the US election. Sara said, “This competition is a good chance for every trader to practice their trading skills, get familiar with crypto collateral accounts, and find out the investment pleasure of seizing financial market volatilities.”

Once the competition ends, traders with the highest final net value on their demo accounts will share the competition’s prize pool of 3000 USDT, among whom the first place could receive a whopping 1500 USDT prize. Moreover, each participant who completes the game will get a free airdrop of 5 OD.

About Dsdaq

Dsdaq is the first trading platform that offers crypto collateral accounts for traders and functions mainly as the bridge connecting the crypto and financial markets.

Dsdaq caters to traders of all levels. After the launch of Dsdaq demo account, traders are allowed to practice their trading skills in Dsdaq, which makes the platform more friendly to beginners.

All Dsdaq users could enjoy trading with very low fees. What’s more, Dsdaq offers up to 30% commission of trading fee as affiliate earnings. Unlimited profit potential is within reach when trading crypto contracts with up to 100x leverage in Dsdaq.

For more information, please visit https://www.dsdaq.com/.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/crypto-collateral-exchange-dsdaq-hosts-global-demo-trading-competition/

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Blockchain

After Buying 38,250 Bitcoins, MicroStrategy Has Become A Full Node On The BTC Network

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After purchasing a sizeable amount of bitcoins for himself and his company, Michael Saylor said that the firm he operates, MicroStrategy, has been running a full node of Bitcoin’s latest core version for over a month.

MicroStrategy Runs A Full BTC Node

Bitcoin nodes are an essential part of the Bitcoin blockchain peer-to-peer network. Running a full node means validating transactions and blocks. Almost all nodes also help the network by accepting transactions and blocks from other nodes to validate and relay them.

There’re certain requirements necessary to run a full node, such as robust hardware, reliable and fast internet connection, and the ability to leave the device running for hours without interrupting the connection.

The decentralized nature of the Bitcoin network requires as many volunteers as possible. Otherwise, the consequences could lead to slow transactions, inability to connect through the P2P network, and relying on centralized services.

Anyone fitting the requirements can join the network and become a Bitcoin Core node. According to Michael Saylor, the company he founded over three decades ago has done precisely that.

In a recent tweet, he said that MicroStrategy is “thrilled to do our part to support the growth of the Bitcoin network,” after running a full node for over a month of Bitcoin Core’s latest version – 0.20.1.

Pro-Bitcoin All the Way

The Nasdaq-listed company announced buying its first batch of bitcoins in August, followed by another massive purchase just a month later. In total, the firm acquired 38,250 bitcoins for about $425 million at the time. This represents about 0.18% of all bitcoins ever to exist.

MicroStrategy doubled-down on its belief in Bitcoin recently by instituting a new treasury reserve policy. It reads that “Bitcoin will be the primary treasury reserve asset.” Additionally, the firm said it will purchase even more BTC with the excess cash it generates.

The company’s CEO has been particularly supportive of the asset in the past several months. Earlier this week, Saylor disclosed that he’s a Bitcoin HODLer as well. His personal portfolio consists of 17,731 bitcoins (worth about $235 million).

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Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/after-buying-38250-bitcoins-microstrategy-has-become-a-full-node-on-the-btc-network/

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