Author: Leigh Cuen

Bitcoin Lightning Startup Goes Beta With Twitter CEO Backing

A version of bitcoin’s much-anticipated Lightning Network is finally ready for real users. Announced today, California startup Lightning Labs has officially launched a beta version of its software (LND), making available what investors and project leads say is the first thoroughly tested version of the tech to date. This means that users can now leverage LND to send bitcoin and litecoin to other users, all without settling those transactions on the blockchain. While this software is one of several seeking to form a combined network that aims to make cryptocurrency transactions faster and cheaper, today’s development effectively takes bitcoin...

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These Bills Could Be A Disaster for the Crypto Sex Industry

Anyone who says crypto doesn’t have a real use case hasn’t been talking to sex workers. Shut out of more mainstream payment methods, they’ve been among the first users of cryptocurrency, creating a symbiotic dynamic between the adult entertainment industry and blockchain technology that continues today. Since most erotic webcam platforms already use digital tokens of some type to pay performers, freelancers have shown a willingness to use bitcoin. And the sex industry is keeping up with innovation – Playboy TV and Penthouse are already developing partnerships with the cryptocurrency startup Vice Industry Tokens (VIT), which has issued its...

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Brazilian Officials Caught Using Bitcoin in $22 Million Scam

Police officials in Rio de Janerio have uncovered a money laundering scheme in which state officials siphoned off money intended for prison supplies, using bitcoin to exchange some of the proceeds. The scam involved misstating the budget spent on food for state-run prisons, ultimately diverting funds worth $22.4 million – though only a small portion of the total was converted into bitcoin. According to local reports, warrants were issued to search 28 sites, with seven people being held so far. Former police chief Marcelo Martins and the former head of the state prison system, Cesar Rubens Monteiro Carvalho, were arrested in connection...

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