ZeroEdge.Bet to Launch Its Second Pre-ICO Offering on June 1

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Renowned blockchain based online casino platform will be launching the second part of its Initial Coin Offering (ICO) on June 1 with a whopping 58 percent discount bonus. Even though there is still some doubt pertaining to the true nature of the platform, it has always been set to revolutionize the online gaming industry with its unique approach.

The platform made its mark by offering its games at zero percent house edge (hence its name) at a time when all other online casino sites were offering casino games that came with house edges ranging between 1 percent and 10 percent. Therefore, unlike its online game provider counterparts, ZeroEdge.Bet’s games give players fair chances of winning, for free!

“We can see why other blockchain-based gambling projects haven’t penetrated the market, so we want to come in well-prepared to be among the first to do this. We believe the experienced team and accomplished advisors are the keys here,” said Adrian Casey, the ZeroEdge.Bet CEO. “Zero Edge offers a unique gambling model which potentially could revolutionize the $70 Billion gambling industry. Players won’t be losing money but instead earning from the increasing Zerocoin value. Our ultimate goal is to become a leading gambling platform in the online gambling industry where thousands of different games are played each day using Zerocoin and where players have the best chance of winning.”

The platform operates on a closed loop economy that is driven by the high demand for zero percent games which in turn results in the increase in demand for Zerocoin, the company’s in-house digital currency. With this revolutionary gambling model in place, gamblers who choose the platform will not lose money but instead gain the value of Zerocoin increases.

The Zerocoin Token will be availed to interested investors during the planned Initial Coin offering (ICO) at the beginning of next month if everything goes as planned.

France Lowers Crypto Taxes, Labels Them ‘Moveable Property’

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According to April 26 report from Le Monde, a local news outlet in France, the Conseil d’Etat (Council of State) of the country has lowered the tax rate on cryptocurrencies from the initial 45 percent to a flat rate of 19 percent. In addition to this, all the profit that will arise from cryptocurrency sales will be considered as capital gains of ‘moveable property’ as stipulated by the new regulations. This move follows the reclassification of bitcoin that is separate from commercial and non-commercial activity.

According to the Council, “The sale of ‘bitcoins’ [fell under] the principle from the category of capital gains of movable property.”

The news report also mentioned that the Council of State’s decision was partly motivated by an appeal that was filed earlier this year to the country’s highest regulatory body. The appeal sort to have the harsh regulations reviewed and changed so as to ensure the survival and growth of the French crypto industry.

Profits amassed from cryptocurrency mining will, however, be exempted from this and they will, therefore, incur higher tax rates as they are still considered to be industrial and commercial profits. These harsh cryptocurrency-focused tax rules that initially encompassed all transactions came to be in mid-2014. Four years down the line, Bruno Le Maire, France’s economy minister, assembled a task force for the sole purpose of scrutinizing the state of cryptocurrency regulations in France.

“Our goal is to provide legal certainty for those who seek it, without hindering those who want to follow their own path. We have a rather liberal approach. We work for a flexible, non-dissuasive framework. At the same time, we are not naive either, we know that these products can be risky” noted the finance ministry.

Other than the finance ministry’s efforts in putting together a task force to review the country’s cryptocurrency regulations, it has also been reported that it the financial market regulator has been considering legislation that would foster the development of Initial Coin Offerings (ICO) in France.

Crypto Trading Has Not Been Banned In India, Govt. Confirms

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As mentioned in the Friday news post, the cryptocurrency situation in India is quite unstable at the moment. Still, it is worth noting that there have been a lot of misconceptions regarding the recent decision by the Indian government with a number of media outlets claiming that India has banned trading in bitcoin, and other cryptocurrencies for that matter. This is certainly not the case. Just to be clear, the Reserve Bank of India (RBI) only cut ties between its own banks and any entity that deals with cryptocurrencies.

No Cause for Alarm?

It goes without saying that the RBI press release indeed caused quite a stir especially because it somehow translates to a total ban on bitcoin trading, depending on how one interprets it. While this is not the case, it cannot be said that there is nothing worry about since the RBI’s ultimatum is still rather significant for cryptocurrency users.

All banks that are currently servicing any entities that deal in cryptocurrencies have a three-month deadline looming over their operations. Any bank that fails to sever its ties with the crypto users the will no longer be considered as a partner of the Reserve Bank of India.

What It Implies

According to Unocoin, there is not much cause for alarm since the RBI has not deemed bitcoin as an illegal currency and there is no ban on cryptocurrencies. For now, Unocoin will continue operating as usual until the banks it is affiliated with state otherwise. The three-month ultimatum creates room for a lot of changes and adjustments but everything will become crystal clear after that. So far, the damage is going to be minimal even though this is subject to abrupt change, but such kind of change is something you get used to when you stay in the crypto-world for long.

The decision by Indian officials is not entirely surprising since the RBI has for several months now reiterated the risks associated with cryptocurrencies. As such, it is likely that many of the India cryptocurrency entities have always been prepared for such developments. In other countries, the alternative has been moving to crypto-friendly countries such as Malta and Switzerland. All that matters now is that bitcoin trading has not been banned in the country but in case it happens, there are viable options for the crypto operations. We will just have to wait and see how it all plays out.

RBI Bans Regulated Entities from Dealing in Cryptocurrencies

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Even though it is currently exploring the creation of its own cryptocurrency, India’s central bank on April 5 escalated a crackdown on existing digital currencies like bitcoin. In an official statement released by the Reserve Bank of India, it was directed that all regulated entities, including banks, should stop providing services to individuals or even businesses that are users, holders and traders of cryptocurrencies.

Meanwhile, the central bank has set up a panel that will be tasked with studying the feasibility and the desirability of introducing a fiat digital currency. The Reserve Bank of India (RBI) confirmed in a statement on Thursday that the panel will be expected to submit a report by the end of June this year.

“It has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling virtual currencies,” the RBI said. “Regulated entities which already provide such services shall exit the relationship within a specified time. A circular in this regard is being issued separately.”

As far as the specified time frame is concerned, the RBI gave the regulated entities three months to unwind their positions with the crypto-related entities. This move comes after over three warnings that were issued to the public in regards to the risks of dealing with decentralized digital currencies. It also follows in the footsteps of several other governments around the world that have been strengthening scrutiny of the virtual currencies. In fact, by its own admission, the RBI affirmed that this move is geared towards protecting the regulated entities form the risks associated with digital currencies.

“Virtual Currencies (VCs), also variously referred to as cryptocurrencies and crypto assets, raise concerns of consumer protection, market integrity and money laundering, among others… In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs,” the RBI said in an April 5 statement.

Possible Introduction of a Fiat Digital Currency

The new RBI regulations certainly have rather significant implications for the crypto market in India. However, the central bank is taking steps that will maintain or draw from certain aspects of the crypto-ecosystem. The underlying blockchain technology, for instance, is quite promising and the RBI acknowledges this fact – the bank will be investigating ways of exploiting the blockchain technology in order to achieve financial inclusion and enhance the efficiency of the country’s financial system.

Also, as mentioned earlier, the RBI is exploring the concept of a fiat digital currency that will be issued by the bank and thus will be considered to be its liability. The new currency will in circulation alongside the tradition paper currency – if it succeeds it also holds the promise if reducing the costs of printing the paper currencies.

CoinPoker Responds to Poker Bot, Security Issues Allegations

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Just a few weeks ago, CoinPoker’s real money tables went live and the site is celebrating by running a number of generous promotions. However, according to writer and GameIntel Managing Editor Alex Weldon, these generous promotions have been contributing to the cryptocurrency-based online poker site’s bot-driven player traffic. Weldon also believes that CoinPoker is struggling with security protocols on the site.

Alex Weldon first wrote about this on a March 17 article title ‘CoinPoker’s Traffic is a Farce’ in which he detailed the findings from his research of the traffic numbers for GameIntel – the company that supplies data to PokerScout, an established website that tracks online poker traffic of nearly all online poker sites.

Weldon’s research was apparently prompted by what he describes as “abnormal traffic patterns.” For instance, he noticed that a number of players were simultaneously playing a number of tables for hours at a time. Furthermore, the said set group accounts dominated the huge volume of gameplay with a significantly small number of other players getting in on the action from time to time.

The players that caught Weldon’s eye all played at minimum stakes for each of the site’s leaderboard levels with each of the level of the leaderboard having nearly the same of player at the tables, though with different names. The wagering patterns of the massively multi-tabling players made Weldon even more suspicious as they seemed to be making programmed decisions.

CoinPoker’s initial response was the closure of three accounts as further investigations are carried out. The site’s officials also pointed out that “Malicious poker bots have not been a significant issue thus far, but we will continue to investigate the problematic accounts that pop up on our leaderboard.” Still, CoinPoker’s security protocols and the site as a whole have been subject to a number of questions.

To further prove their dedication to handling the issue as expected, the online poker operator decided to limit the number of simultaneously played tables to 8 per player. In addition to this, the site plans to integrate a verification tool called Civic to their platform.

“With these measures in place, we can, with a high degree of confidence, say that our final leaderboards reflect players who have played fairly and worked hard to win prizes in our current 5MM CHP Giveaway Promotion,” they wrote.

On the issue of security protocols that was a key concern for many of the stakeholders of the poker site, CoinPoker confirmed that the launch of its peer-to-peer security system was still scheduled for October this year. The new security system will be replacing the existing security system that runs on a hybrid platform that combines standard online gambling security measures and blockchain technology

Bitcoin Mining Has Just Been Banned in Small New York Town

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Plattsburgh, a small lakeside town in northeastern New York has banned the establishment of new bitcoin mining firms for the next year and a half citing the fact that the miners have been exploiting its low-cost electricity. This comes at about the same time that the New York public utilities arm gave a ruling that allowed the municipal power authorities to charge higher electricity rates for cryptocurrency miners.

The town which is quite close to the Canadian border put the one and a half year moratorium on cryptocurrency mining in a bid to preserve its natural resources, the health of its residents as well as the “character and direction” of the city. Thus, for the next 18 months, the city will not be considering any new applications for commercial cryptocurrency mining. Breaking this rule will attract a fine amounting to $1,000 daily for the period that the moratorium is violated.

“It is the purpose of this Local Law to facilitate the adoption of land use and zoning and/or municipal lighting department regulations to protect and enhance the City’s natural, historic, cultural and electrical resources,” Plattsburgh officials said after holding a public hearing on the matter Thursday.

Cryptocurrency mining is the process by which mining firms or individuals get paid with cryptocurrencies for running complex mathematical equations on high-powered computers in order to confirm the validity of transactions. This process needs enormous computing power and thus is very energy-intensive hence miners will almost naturally be drawn to areas with significantly lower electricity costs. Thanks to its hydropower plants and the subsidies that some of the municipal power authorities allow on the electricity, some parts of New York are able to offer electricity rates that are as competitive as the Chinese bitcoin mining market. Furthermore, the naturally lower temperatures in the state also significantly reduce the cost of cooling facilities at the mining firms.

It Is a Positive Move, Some Agree

While this might not be a favourable ruling for cryptocurrency miners, one local bitcoin mining operation, Plattsburgh BTC, has expressed its support for the ruling. David Bowman, the founder and CEO of the bitcoin mining firm said in an email that the move was a positive one for both the city of Plattsburgh and crypto mining as a whole.

“We will be actively working with the city right away to find solutions that work in all of our interests, like possibly shutting off the machines if we are in danger of going over the city’s quota, looking into energy recapture as a way to heat buildings,” he added. “Anything is on the table.”

India Can’t Regulate Bitcoin, Says Former Indian Bureaucrat

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India has been struggling with regulating cryptocurrencies for quite some time now mostly because of the strong aversion the governments has towards digital currencies but they are yet to ban any. Now, a former Indian top finance ministry official insists that bitcoin, as well as other cryptocurrencies, should be completely banned in the country.

Shaktikanta Das, who is a former secretary of economic affairs, believes that regulating bitcoin is going to be quite tough and thus the only feasible alternative would be to outlaw their use. Das headed the Indian government’s first panel that was set up in April 2017 in a bid to understand and recommend necessary regulations pertaining to cryptocurrencies. Currently, Das is a member of the 15th finance commission which has been tasked with reviewing the financial situation of the present government.

“Let us accept that it would not be possible to regulate it effectively. Because they will do transactions from their houses. You cannot enter every home to check what transactions are going on. So, I think this is a serious challenge, and this should not be allowed at all,” Das said.

The Indian government’s aversion to cryptocurrencies can be traced back to 2013 when the Reserve Bank of India (RBI) warned its customers against the potential security threats that were associated with digital currencies. Despite this, and multiple other warnings from the country’s ministry of finance and the RBI that followed since then, cryptocurrencies have grown in popularity even among people who were considered to be “conservative” Indian investors.

Why Das’ Opinion Matters

Shaktikanta Das has held a number of key positions in India’s ministry of finance including being the head of the departments of economic affairs and revenue. He has also served as a board member of the Indian market regulator Securities and Exchange Board of India and the Reserve Bank of India – both institutions play a monumental role in the drafting of cryptocurrency regulations in India.

Das argues that since the Reserve Bank of India is the only institution allowed to issue currency in India, cryptocurrencies are essentially illegal. He further pointed out that cryptocurrencies are paralleling present financial frameworks without any backing from legal provisions.

“There is the danger of cryptocurrencies leading to money laundering, terror financing, and unaccounted transactions. It will pose a serious threat to the financial stability not only of India, and in fact more, in the case of the developed world,” he added. “It’s a serious challenge and threat to global financial stability.”

MARVEL’s Heather Antos Leaves for Editor-in-Chief Role

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Marvel Comics’ assistant editor Heather Antos is leaving the comic book publisher to become the Editor-in-Chief of Esports betting platform Unikrn – the position was previously held by Ryan Jurado, who has now been reassigned to be the betting platform’s Head of Global Content.

Antos, who previously worked as a comic’s editor on Unlawful Good: An Anthology of Crime, produce on a number web series such as Lagged Out and a journalist for sites like Geek Legacy, has been an Assistant Editor at Marvel Comics since 2015. Her work as an editor at Marvel Comics, principally for the Stars Wars and Deadpool franchises saw to the tremendous growth of both lines of comic books which has earned them very strong critical and commercial success over the past couple of years. Also, this made the star editor herself a public face for Marvel Comics both on social platforms as well as every popular comic convention we can think of.

In 2017, Heather Antos also became the focus of online harassment that led to the #MarvelMilkShakes solidarity hashtag from across the comic book industry. Apparently, Antos will be leaving Marvel Comics simply because she has been presented the opportunity of a lifetime at Unikrn, and not because of any issues that may have come up between her and her former employer.

“Plot twist! In today’s chapter of the Heather Antos Chronicles, I’m making a leap from Marvel comics to video games & Esports as editor-in-chief of Unikrn,” Antos tweeted. “It’s been a long-time goal of mine to branch out into the video game & competitive Esports world. To do so under the guidance & leadership of Rahul Sood and Ryan Jurado is something I never would’ve thought possible. I absolutely cannot wait to dig my heels in & get running!”

Antos will be tasked with managing and overseeing all the editorial content, tournament coverage, podcasts as well as video content.

A Little Insight into Unikrn

The Las Vegas, Nevada-based Unikrn is considered to be the world’s best Esports betting platform – its success can be attested by the many offices they have across some of the world’s most popular cities such as Berlin, Germany and Sydney, Australia.

The Esports betting platform primarily offers real money wagering as well as token-based betting on nearly all the available competitive video gaming tournaments from across the world. Unikrn essentially creates betting markets on Esports in a manner that can be likened to the way traditional sports betting is operated. The platform’s users are allowed to bet legally free from any part of the world using Unikrn’s own cryptocurrency that is referred to as Unikoin. Players from the United Kingdom and a few other areas are even allowed to place bets using real money but this number is likely to grow in the near future.

Crypto Prices Drop Amidst Trader Suspicion of Binance Hack

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The major cryptocurrencies on Wednesday experienced sharp price drops as reports of system errors at Binance, a renowned crypto exchange, got many investors into a bit of a panic. At the same time, digital currency traders also had to digest reports that major United States regulators are demanding for the registration of all cryptocurrency exchanges.

Binance is considered to be one of the biggest exchanges in the world – CoinMarketCap reports that it is one of the top 4 biggest exchanges for the most popular cryptocurrencies in terms of the traded volumes. Prior to the Wednesday crash, a number of users noticed something highly unusual with Viacoin – that is, a huge increase in buy orders for the cryptocurrency after which its market capitalization jumped from $64 million to $159 million in just a few moments. A probe into the matter revealed that there were lots of unauthorized sell orders going around.

“We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak,” the Binance team wrote on Reddit. “As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised.”

Binance later announced that it had halted withdrawals so as to look into what the company referred to as “unauthorized market sells.” The company further stated that there was no evidence that the platform had been compromised at the time.

The impact the alleged Binance hack has had on the market is quite significant. 360 Blockchain USA president, Jeff Koyen pointed out the concerns surrounding Binance resulted in the plunge of the prices of bitcoin and several other digital currencies as well.

“All of crypto is getting battered right now, based on fears that Binance was hacked,” Koyen stated.

SEC Crackdown Played a Role

A number of market analysts have also pointed the price drops to the United States Securities and Exchange Commission’s (SEC) recent decision to subpoena a number of firms that either deal in cryptocurrencies, or are associated with them. A large number of the subpoenas were specifically sent to companies that are selling digital token through Initial Coin Offerings (ICOs).

Zero Edge Is Set to Solve the ‘House Always Wins’ Problem

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With hundreds of online casinos springing up on the web each and every day, online gambling is as popular as ever and it is surging forwards rapidly as well. While their seemingly inexhaustible popularity cannot be disputed, online gambling has one major flaw that is tied directly to how many of the online casinos are operated.

If you are familiar with gambling, then the saying “The house always wins” must have flown by you a few times since it even dates back to the very first land-based casinos in Asia and Europe. This is a popular statement essentially because it is very true.

Zerocoin to the Rescue

“All casino games, whether they are found in traditional brick and mortar establishments or online, have one thing in common – the odds are always stacked against the player. Players might be winning for a short period of time and think that they cracked the code, but in reality, they are just “running hot” and sooner or later the variance will do its job to favour the house” explained ZeroEdge.Bet CEO, Adrian Casey. “Most of the players are unaware of the mathematical principles that make beating the casino virtually impossible. Therefore, our goal at ZeroEdge.Bet will be to educate players about gambling and prevent them from falling victims to its traps.”

Zero Edge Casino uses its own Zerocoin, its own in-house cryptocurrency in a bid to solve the age-old problem of the house always winning. This is going to be achieved by completely getting rid of the “house edge” altogether which essentially means that for the very first time in history, players will have a true and fair shot at winning the online games they play at Zero Edge Casino.

Zero Edge’s concept has already penetrated the European and the Middle East gambling markets and is now on the verge of completely taking the Asian online gambling market by storm. The online casino operator is essentially turning the casino industry on its head through the introduction of this revolutionary new and different way for online casinos to make profits without having to exploit their customers. The model instead focuses on profiting by increasing the value of the operator’s digital assets through wider adoption and utility.

To play at Zero Edge Casino, players must first buy Zerocoins but this is a fairly small price to pay considering the goodness of playing with the zero percent house edge that the online casino offers. As more players learn about this incredible offer, they will certainly buy into it which will increase the demand for Zerocoins and, in turn, exponentially increase the cryptocurrency’s value. Things are indeed looking up for the company, and for the rest of the online gambling community as well.