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Rock Star Litecoin: Charlie Lee Rails Against S**t Coins and Scam Coins

Rock Star Litecoin: Charlie Lee Rails Against S**t Coins and Scam Coins

Rock Star Litecoin: Charlie Lee Rails Against S**t Coins and Scam CoinsLitecoin has kept a spot in the top 10 cryptocurrencies for years, but it hasn’t always been easy. | Source: Slush on YouTube ScreenshotBy CCN: It’s not easy being Charlie Lee. It’s no secret the Litecoin creator has had to deal with a crypto community that hasn’t gotten over his LTC portfolio sale. But he’s also fending off other blockchain projects, many of which have no place in the ecosystem to begin with. Lee took out his frustrations on Twitter, bemoaning the struggle to keep Litecoin in the limelight.“Watch Litecoin surviving the test of time. It’s not easy fighting off all the s**tcoins and scamcoins to stay in the top 10.”Litecoin is currently ranked as the fifth-biggest cryptocurrency on CoinMarketCap, though it continues to jockey for position among its peers.Watch Litecoin surviving the test of time. It’s not easy fighting off all the shitcoins and scamcoins to stay in the top 10. 😀 https://t.co/7wWhBbxkKE— Charlie Lee [LTC⚡] (@SatoshiLite) April 24, 2019In the DataLight visualization, Litecoin holds its own against other cryptocurrencies over the past six years. Lee’s project was the second-biggest cryptocurrency in 2013, followed by Peercoin and Namecoin. If you haven’t heard of the latter two coins, it’s probably because they’re both ranked somewhere between the top 200-300 coins today. Eventually, XRP muscled its way in until Ethereum showed up and told them who was boss. Meanwhile, Litecoin, which Lee created as digital silver to bitcoin’s gold, has managed to maintain a spot in the top 10 cryptocurrencies since 2013.‘No Such Thing as Crypto’Incidentally, some people have a similarly scathing opinion about Litecoin, which was created using a variation of Bitcoin’s code. Derivatives trader Tone Vays doesn’t have time for any other coins, based on a recent tweet in which he eviscerates any project that is not bitcoin. He calls out Litecoin in addition to privacy coin Monero as “waste of time useless projects.”There is no such thing as #crypto (even though I sometimes use that term). There is #Bitcoin, there are waste of time useless projects like $XMR, $LTC, & other PoW honest #Blockchains and there r SCAMS like $ETH, $DASH, $XRP and all #ICO’s like $BNB, $EOS, $ADA & of course $TPAY https://t.co/d2RzPat8PX— Tone Vays [#UnderstandBit] (@ToneVays) April 20, 2019Upon further reflection, he clarified his position, saying:“I agree, they are not ‘all scammers’ most of them are just Stupid and are not very good developers, or they would have actual jobs and/or be useful to society. I report my uncle who has been a truck driver for 40 years more than any Ethereum developer. He helps society.”The bone Tone Vays has to pick with Lee surrounds a Swiss-based project called TokenPay, which partnered with Litecoin for a stake in Munich-based WEG bank. Vays suggests that Lee’s influence has influenced others in the crypto community for TokenPay like sheep being led to the slaughter.Charlie Lee may be a leader, but crypto investors have minds of their own. If you have any doubt, consider how they responded to Coinbase’s controversial Hacking Team acquisition. There’s a reason why Litecoin has not wavered from its status as one of the top 10 cryptocurrencies.Charlie Lee may have to swat a few flies, but at the end of the day, he’s leading one of the top-performing cryptocurrencies whose price has more than doubled year-to-date. The scam coins and s**t coins should be abated as the industry matures. For now, Charlie might want to keep that fly swatter handy. About The AuthorGerelyn TerzoGerelyn is a fintech and cryptocurrency journalist who started her career writing about traditional finance/Wall Street. She has been reporting on financial services for the past 15-plus years. In full disclosure, she holds bitcoin (BTC).
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Hackers made $32K in 7 weeks by fixing bugs in cryptocurrency projects

Hackers made $32K in 7 weeks by fixing bugs in cryptocurrency projects

In the past seven weeks, white hat hackers earned at least $32,150 by fixing security flaws in popular cryptocurrency and blockchain platforms like TRON, Brave, EOS and Coinbase.
According to data reviewed by Hard Fork, 15 blockchain-related firms have paid rewards to security researchers between March 28 and May 16, split across 30 publicly-released bug reports.

Omise, the software firm behind cryptocurrency OmiseGo, fielded the most fixes (six). Blockchain-powered prediction market Augur disclosed three reports, as did Brave Software, makers of the Brave browser, which features its own native token.

Projects adjust their HackerOne rewards to the severity the discovered security flaws. Whilst the majority of Omise’s reports were only worth around $100 each, other payments in the past seven weeks were much higher.
Block.one, the firm behind the EOS “blockchain,” rewarded one hacker with $10,000 for a single fix, as did budding network Aeternity.
TRON also paid $3,100 to the researcher who realized the network was susceptible to being flooded with malicious smart contracts, which would have brought its blockchain to a screeching halt.
The amount of hackers who prefer to fix security issues seems to be remaining steady — but sometimes they can make off with much bigger amounts exploiting vulnerabilities themselves.
Indeed, cryptocurrency exchange Binance revealed attackers had successfully stolen 7,000 BTC (then $40 million, now $55 million) from its own wallets last week.
Coincidentally, Binance runs its own bug bounty program with a maximum reward of $100,000 for the most critical of vulnerabilities. The Binance hacker remains at large.

Published May 20, 2019 — 15:21 UTC

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ABN AMRO signs on Accenture and ING Bank for its blockchain inventory platform

ABN AMRO signs on Accenture and ING Bank for its blockchain inventory platform

Despite abandoning plans to build its own Bitcoin wallet, ABN AMRO is not quite done with blockchain tech.
The Dutch banking giant has announced plans to launch a decentralized trade inventory platform in collaboration with Accenture and ING Bank, according to a press release (spotted by CoinDesk).

Codenamed Forcefield, the project will employ Internet-of-Things (IoT) devices to provide “real-time insight into trade inventories.” ABN AMRO claims the platform’s monitoring features “will lead to more secure physical handling processes and a reduction of costs.”
Upon launch, the project will focus on “refined metals,” but “functionality will be expanded across other dry bulk commodities” in the future.
In addition to ING and Accenture, a number of other companies – including Anglo American, CMST International, Hartree Partners, Macquarie, Mercuria, and OCBC Bank – have also signed a memorandum of understanding to join Forcefield.
Back in January, ABN AMRO teased plans to develop its own cryptocurrency wallet, called Wallie. But as Hard Fork reported, the bank has now ditched Wallie as cryptocurrencies are still “too risky.”
“We have approached all the people who have shown interest,” ABN AMRO press officer Jarco de Swart told Hard Fork. “We have concluded that cryptocurrencies because of their unregulated nature are at the moment too risky assets [sic] for our clients to invest in.”
ABN AMRO and ING are hardly the only banks looking to get in on the blockchain hype. Indeed, leading banks – including Barclays and HSBC – reportedly poured $50 million into a blockchain-based digital cash system, expected to launch in 2020.

Published May 20, 2019 — 15:00 UTC

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