IMF Chief Speaks on Crypto Regulation | + | CME Develops system to modify blockchain WITHOUT consensus | + | Government sites hacked to mine crypto - Black hat issues strike again! ! ! ! DAILY Crypto Digest 2.12.18

[followbtcnews]

Welcome to the Daily Crypto Digest bringing news to steem, news to you!
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Photo Credit: Cointelegraph.com

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#IMF Chief Speaks on Crypto Regulations

Christine Lagarde told CNNMoney on Feb. 11 that cryptocurrency regulation is 'inevetable' and necessary.
She believes that popularity is caused by

"starvation for high returns in global markets

and, showed a tred for 'herd mentality' but, she followed that up by it being fueled by 'dark activity' which shows how little she knows on the topic, or her possible intent to veil truth. As, recent studies show that crypto can only be tracked down to about 1% laundering/dark activity. Whereas fiat is around 5-6% laundering/dark activity.
Sounds like someone wants more power, and after her criminal charges she was convicted of in Dec 2016, facilitating an illicit $400 Mln transfer between Nicolas Sarkozy, and Bernard Tapie, it's questionable why she's still even in this position?
Stay weary, I post this information not for FUD, but to show the SENTIMENT that the chiefs that will make regulation are showing.. So we may DISCERN what is to come, and how to prepare.

Stay agile crypto family!

https://cointelegraph.com/news/imf-chief-christine-lagarde-says-international-crypto-regulation-is-inevitable-and-necessary

Photo Credit: CoinTelegraph.com

#CME Plans to Develop System To easily Modify Blockchain Protocol

A patent for a Blockchain protocol modification system without consensus from all participants, which was originally filed by the CME has been published by the US Patent and Trademark office as of Feb, 8.
In most networks, consensus and decentralization depend on a network consensus which is difficult to acheive.
CME proposes in their patent

“method for synchronizing rule changes in a system which implements a blockchain for transactions.”

CME group is showing they want to work with blockchain in innovative ways, but it still seems they want it to not be decentralized. Compromises in a network such as circumventing consensus, means someone has control over a network thus is a threat to decentralization. No blockchain network you see me on will use this idea..

https://cointelegraph.com/news/cme-plans-to-develop-new-system-to-more-easily-modify-blockchain-protocols

Photo Credit : BBC.com

4000 Sites hacked to mine Crypto

Security researcher Scott Helme said over 4,000 websites including many government ones were hacked. The hackers like the youtube virus, were leveraging a website plugin called 'browsealoud' to help blind people access the web, was maliciously compromised with code forcing peoples computer to mine the hackers monero.
When the Plug in was compromised, so was every site using it. This is a very serious issue, because along with these mining hacks, they also will try to mine peoples information alongside. Making the candy jar, that much more enticing.
More elaborate schemes will unfold. And it shows we must use some of our discretion and energy as a community assisting and helping people deal with these black hat issues of crypto. Secure blockchain browsers anyone?

http://www.bbc.com/news/technology-43025788

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Comments

[johnmarks]

resteemit done

[fajabox]

good activity
resteemited

[riyad11]

upvoted done.👍👍👍

[farah-kamran]

good highly informative post

[lubogr]

thanks for sharing nice post

[charitybot]

Lol, is CME trying to literally patent what is basically an attack on a network with a minority consensus change? Rofl. I see some differing opinions on this non-related subject, but what would you say are the minimum specs for a witness server? 16 gb?

[waqarh44]

cryptocurrency is increasing day by day ... appreciate you for this post .. thanks for sharing

[triiggr]

I hate the idea of governments trying to regulate cryptocurrencies! They are so sought after for their decentralized networks.. They fear not being able to have full control over their populations, and whether they like it or not, cryptocurrencies are here to stay.

[njokuoluchukwu]

I just want to say THANK YOU @followbtcnews for reviving Steemit chat. I appreciate what you are doing for the Steemit Community.

[sajidaskari]

upvote done

[wahyuddin]

please help in folow