If you have a bank account in the US, then whether you realize it or not, you’re subject to the regulations outlined in KYC and AML. And until recently, applications based on blockchain technologies weren’t forced to comply with these regulations, however, this has all recently changed and it’s throwing the cryptocurrency world for a loop.

What is KYC?

KYC stands for know your customer and it refers to a set of policies which indicate what type of information banks must collect, and retain, about their customers. This information includes scanning an ID such as a drivers license or passport, as well as maintain a record of an address on file and proof of said address. Besides just collecting said information, the bank must also follow up frequently to ensure that the information is up to date and correct. …

Recently in the cryptocurrency world, there’s been a lot of discussion of CeFi vs. DeFi. Many hardcore crypto enthusiasts are pushing for DeFi, while a number of others are pushing for CeFi. So, which one is better? Well that depends on what you are looking for when it comes to crypto and how you are planning to invest.

What is CeFi?

For those of you that don’t know, CeFi stands for centralized finance and signifies any transaction in which there is a centralized aspect overseeing said transaction. …

Blockchain Scaling History

Back when Bitcoin was first invented back in 2009 under the leadership of Satoshi Nakamoto, the creator quickly seemed to have a virtually unpassable problem with blockchain technology that had to do with spam attacks. Satoshi simply could not figure out how to deal with spam transactions on the network and thought it might lead to Bitcoin’s eventual and certain downfall. And then, in a stroke of brilliance in his mind, he decided to put a rate limit on blockchain output by capping each individual block size at a fairly arbitrary 1MB to then determine how to deal with the problem at a later time down the road. 1MB was a more than sufficient block size at the time due to the low network use of Bitcoin given that it could host approximately 1,500 transactions each 10 minute period fairly comfortably and there were nowhere near that many transactions at the time. …

Within the high stakes poker community, there has been a constant feud among two of the more well known players. Daniel “Dnegs” Negreanu has been a fan favorite having been shown on television since his appearances in the earlt 2000s in the World Series of Poker (WSOP) and many other such events. Having continued a life long grind and adoration of the game, he still makes a commitment to play decades on and is the recipient of six WSOP bracelets and two WPT championship titles. Meanwhile, the slightly less public facing but still extremely popular Doug “WCG|Rider” Polk rose to notoriety becoming the world’s undisputed best heads up no-limit poker player from 2014 through 2016 after beating Ben “Sauce123” Sulsky in a top tier heads up challenge for the ages. …

Worried that someone close to you may be suffering from a Bitcoin gambling addiction? While it may not be as immediately fatal as a drug or alcohol addiction, being addicted to gambling can have serious implications that could eventually lead to a sad outcome. Gambling in moderation is an acceptable social behavior, so it’s important to learn to recognize the line where gambling surpasses a simple enjoyment and becomes an addiction.

What Causes Gambling Addiction?

Someone who suffers from gambling addiction may be predisposed due to a gene which makes someone more likely to struggle with addiction. In addition, the individual may have an overactive insula, which is a part of the brain that leads to distorted thinking. People with an overactive insula often see patterns that don’t exist, for example — thinking that they will win if they just play one more hand of blackjack because they’ve lost the previous four hands. Gambling addiction can also be a sign of a deeper mental issue such as bipolar disorder or schizophrenia, so it’s critical to investigate if you think you or someone close to you has a gaming addiction. …

There has been a bunch of hype on online cryptocurrency forums in the recent days surrounding the pending launch of Ethereum 2.0. Ethereum 2.0 will introduce a number of changes to the current platform, replacing it as a whole, and users are both wary and excited.

eWASM

The biggest change coming with Ethereum 2.0 (also known as Eth2) is that Ethereum will no longer run on the EVM (Ethereum Virtual Machine) but rather it will start running on the eWASM (Ethereum Web Assembly) instead. For those of you who aren’t familiar with EVM, it’s the way in which Ethereum is able to be run on a network of computers rather than storing information on one device’s drive. So, if you wish to upload a smart contract on the Ethereum blockchain, you would first code the DAPP in Solidity (the primary coding language of Ethereum) and it would then be transferred and compiled into EVM bytecode. This EVM bytecode is completely autonomous from the device it was created on, and it can now be read by any device in the system and the data is stored across a number of nodes. And once this bytecode is uploaded to the EVM it cannot be deleted or erased, which gives Ethereum it’s decentralized nature. On the EVM, the Ethereum blockchain runs with 100% accuracy, which is what Buterin wanted when he created it. This process ensuring every node on the system runs with 100% accuracy however, coupled with the time-consuming conversion to bytecode, slows down the Ethereum blockchain tremendously, limiting its scalability. …

As the price of Bitcoin starts to soar once again, society has a renewed interest in getting involved in the mining of cryptocurrencies. However, starting out as a cryptocurrency miner is certainly not cheap, and you need to make sure you have all the proper information before you dive in.

What Do You Need to Start?

First of all, if you plan to mine cryptocurrency of any sort, you need to be prepared to fork out some cash. There are a few different types of mining, and depending on the type you choose to engage in will determine your up-front cost. GPU mining will cost you a few thousand to get started, as well as a bundle to upkeep. GPU mining is done using a processor, motherboard, cooling fan, and a number of graphics cards. If you have some of these things lying around your house, it is possible to build your own rig. Nevertheless, it can be difficult to know what you are doing and, in the end, your up-front cost could possibly end up being the same if you need to purchase any sort of parts. …

Many people want to trade Bitcoin, but don’t want to go through the hassle of setting up a wallet, exchange accounts, and transferring money to make purchases. Most of these people qualify as traditional investors who simply use their traditional stock exchange accounts to trade investment assets.

That’s where the Bitcoin Investment Trust comes into play. Trading under the symbol GBTC, this investment allows investors to speculate on the price of Bitcoin through their brokerage accounts. It’s not a direct way to own Bitcoin, but it’s convenient for investors simply looking for a fund to invest in the cryptocurrency market.

If you’re considering this more traditional avenue for investing in the emerging cryptocurrency market, here’s what you need to know about the Bitcoin Investment Trust. …