Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

News

On Friday, Oct. 19, the developers of Bitcoinfiles.com launched the first official version of the product. Now anyone from around the globe can tether a file (5kb or less) to the BCH chain, ensuring its resistance to censorship.

Also Read: Bitcoin Ownership: Your Private Keys to Financial Sovereignty

File Storage Tethered to the Bitcoin Cash Blockchain

Bitcoin Cash (BCH) developers James Cramer, Attila Aros and ‘Hapticpilot’ have announced the launch of a working product called Bitcoinfiles.com, a platform that allows people to upload and download files tied to the BCH blockchain. Currently, the files allowed have to be small and the service only allows 5kb or less per upload. The programmers have added a $0.25 fee in order to process a BCH file upload. Downloading a file doesn’t cost anything and you can share the file’s URL with anyone you like.

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

Uploading and Downloading Timothy May’s Timeless Manifesto

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System Experimenting with Bitcoinfiles.com is fairly intuitive if you are able to operate a BCH wallet and are familiar with uploading files to hosting sites. Basically, users simply press the upload button and can browse their operating system for files under 5kb. In order to test the platform, news.Bitcoin.com copy and pasted the entire text from Timothy May’s Crypto Anarchist Manifesto text into a rich text file (rtf) which ended up being roughly 4kb in size.

After pressing the upload button and choosing a file, the user has to accept a disclaimer which basically states that Bitcoinfiles.com is not responsible for illicit behavior. After accepting the disclaimer, you can pay for the file upload ($0.25 + network fee) either by using the Money Button or using a QR code and the text from a traditional address.

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

After whipping out the trusty Bitcoin.com Wallet, the QR was scanned without error and I paid the fee. Almost instantly after the invoice was paid the platform showed me it was uploading my file. The upload took less than a minute and the Bitcoin Files application dispersed a BCH blockchain URL at the end. Users can also view uploads on the website’s file explorer powered by Bitdb 2.0. The manifesto was there, showing a timestamp of approximately 16:59 UTC and the file’s hash as well. After the upload was complete, I then pressed the download file button on the website to choose from all the uploaded files on the network. Using the URL from the previous manifesto rtf file upload, the platform downloaded the file very quickly, with no charge for downloads.

Bitcoinfiles.com Developers Launch Censorship-Resistant File Storage System

Files That Endure the Test of Time

The implications of a project like Bitcoinfiles.com could be massive as the platform can allow anyone to create an uncensorable file that’s forever tied to the BCH chain. The protocol does not require any registering or identification and files could be uploaded by anonymous whistleblowers, journalists, and anyone else who wants to save files in an immutable fashion. However, some may think a concept like this could be problematic if people were to upload illegal or taboo material and malicious data. The project is open source and the protocol could be integrated elsewhere. so it’s possible files could be uploaded and extracted without depending on the Bitcoinfiles.com platform as well.

What do you think about Bitcoinfiles.com? Let us know what you think about this project in the comments section below.


Images via Shutterstock, Bitcoinfiles.com, and Jamie Redman.


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3 Cryptocurrencies Well-Positioned to Beat BTC Price in Q4 (AMB, BCH, ADA)

This week’s cryptocurrencies market analysis will concentrate on technological advancements in the blockchain space in quarter 4. The analysis will focus on major technological upgrades occurring in quarter four along with Ambrosus (AMB) being a top contender to produce returns well in excess of 100% in the immediate short term.


3 Cryptocurrencies We Predicted Would Rally 

Last Week’s Piece, which highlighted the cryptocurrency GOChain 00, resulted in GO increasing more than 50% in value in the 48 hours that followed. This is similar to TRIG, VIBE, and EVX, which all had rallies in excess of 50-250% following analyzing their short-term developments.

It may be a ‘bear’ market but clearly, but it is showing bullish signs and AMB is likely to be next.

Each cryptocurrency on this list has its own specific reasons from unique conferences to increasing their coin’s utility for their bullish short-term tendencies. This week will focus on AMB, BCH, and ADA, with AMB likely to lead the charge as a cryptocurrency likely to gain in excess of 50% in the short-term.

Ambrosus (AMB)

This week AMB 00 is highlighted as likely to have major bullish tendencies in the short term as they release their upgraded Mainnet 2.0. AMB developers are clearly remaining committed to their project even amid the bear market. Currently, AMB’s market cap is barely over $20 million.

In other words, if it approaches a $100 million market cap, the value of the underlying AMB increases 500% (5x).

With multiple other cryptocurrencies having mainnet updates in the prior months there can be a common occurrence gleamed from watching the cryptos price movements in the days leading up to launch. The coins have a tendency to trend North in anticipation of mainnet release.

As more individuals check the crypto calendar and see ‘news’ they start FOMOing and rush in. The goal is to beat those FOMOing individuals into the alts with upcoming major developments.

Bulls Still Bullish

This week’s piece does not focus on conference developments, or utility developments, but instead on tech developments.

AMB with their Mainnet Version 2.0 being released before the end of quarter four should provide an unexpected surprise announcement (that you’d have to go all the way to December on the crypto calendar to view or be following the project to know). These types of tech upgrades, especially with exact dates unannounced provide a major opportunity for bullish price movement.

AMB has their Mainnet 2.0 being released this quarter but also has developments occurring behind the scenes and major partnerships in the works. A market capitalization of only 20 million, coupled with tech advancements, partnerships, and listings on the biggest exchanges, is why AMB is an attractive acquisition target.

Individuals familiar with AMB’s team have mentioned numerous times how partnerships are planning on being announced by the EOY in either the pharmaceutical supply chain or food supply chain monitoring. AMB is also onboarding many of their core community for internal product testing and development. Major developments are happening within AMB and quarter 4 coupled with Mainnet 2.0 should push AMB even higher.

AMB is a blockchain-powered IoT network, enabling secure and frictionless dialogue between sensors, distributed ledgers, and data to assure product quality. This niche (supply chain monitoring) is one where blockchain will continue to exploit as their transparent nature, ability to track frictionlessly and provide live updates will revolutionize the supply chain and IoT technologies.

With quarter four’s Mainnet Version 2.0 on the horizon it is likely we see a major Northern price trend produced due to upcoming tech advances and partnerships.

Q4 price target prediction: $ 0.60-$0.72 in the short term, approximately 6,000 Sats.

Bitcoin Cash (BCH) 

Bitcoin Cash (BCH) 00 has had a rough summer and the upcoming Bitmain IPO, which was supposed to boost BCH’s price, but has suffered due to swirling rumors about false claims of investors and quarterly sales numbers. However, when the market is ‘doubting’ a coin this is the time to believe in it.

“Be fearful when others are greedy, be greedy when others are fearful,” said Warren Buffet.

Right now the market is fearful regarding BCH, which is why it is time to be greedy.

Regarding BCH’s quarter 4 and technological advancements they have an upcoming hard fork and are participating in Amsterdam’s DevCon October 27, 2018. This hard fork has investors both worried and curious.

The worry and fearfulness are overpowering the curiosity resulting in BCH falling more than 50% against BTC since the beginning of summer.

The Bitcoin Cash fork is occurring because two of the biggest mining groups (by hash power) have split thoughts on the future of BCH. One group wishes to introduce atomic swaps intending to make BCH the most scalable, extensive, and utilizable blockchain, while slowly moving BCH away from a currency used like ‘cash.’

The other group wants BCH to remain as close to “Satoshi’s Vision” as possible while remaining a true ‘digital currency.’ These visions are clearly competing leading to what amounted to a Twitter argument between two huge hashing groups of BCH (and a BCH price correction).

An upcoming hard fork coupled with attending major technology conferences are two reasons why BCH may increase in value against BTC even if it does not outpace top contenders like AMB.

BCH has major tech upgrades coming in quarter 4 with the possible hard-fork. If no fork occurs this will settle investor’s nerves and likely also lead to a BCH price rally. The Bitmain IPO, which has seemingly been forgotten, is about to occur. Between conferences and the Bitmain IPO, the community and BCH awareness should increase significantly in Q4. Conferences, Bitmain’s IPO, and a hard-fork are all quarter 4 catalysts for BCH.

Q4 price target prediction: A minimum of $600 by the end of quarter 4 and a 20% increase in value (Satoshis) against BTC.

Cardano (ADA) 

Cardano 00 has the least impressive tech upgrades on this list but it has some very important things going for it in quarter 4. It is a front-runner (along with BAT) to be listed next on Coinbase.

If the price movement of the prior two coins listed on Coinbase is a hint, an ADA listing will boost its price significantly in the short term. ADA is also being fully integrated in November into the Metaps Plus platform.

Metaps Plus is a fintech company that has a specialized point of sale (‘POS’) payment system. They are based out of Korea and have over 30,000 offline stores already using their POS system. Although ADA is not undergoing a tech upgrade, being introduced into the Metaps payment platform significantly increases ADA’s utility. Adding utility adds the most value in the crypto space and through integration into a new POS system ADA is ensuring they remain relevant, at least for the near future.

The integration of ADA into Metaps is supposed to be completed in November. This provides the next ten days as the perfect time to do research on ADA and whether or not they are likely to succeed in the short and long term.

With a Coinbase listing seeming imminent coupled with being added to an already functioning POS system in 30,000+ stores; ADA seems to be a Top 10 Cryptocurrency primed for growth in quarter four, compared to Bitcoin BTC 00.

Best Chances for Short-Term Gains

Even in this bear market, some cryptocurrencies have produced returns greater than Bitcoin, despite BTC’s resurgent dominance to boot. Based on potential tech advancements in Q4, AMB is poised to produce the highest returns, in my personal opinion.

#REKT? Not With Bitcoin! Yearly ROI On Largest Cryptocurrency Still Tops 150%

However, when Top 10 cryptocurrencies by market cap also have major advancements in the next few months it is important to target ‘safer’ options as well. BCH and ADA have important events occurring in the quarter 4 that make them more relevant and likely to gain in Satoshis against BTC.

Crypto is a high-risk marketplace and cryptocurrencies with smaller market caps like AMB should see the highest returns against BTC in the immediate short-term.

AMB may see price movement in excess of 100%. It is much less likely that ADA and BCH will see that type of movement due to larger market caps. However, upward price trends from all three are likely as they each have important Q4 updates.

To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports). The Crypto King is the founder of ANON and does actively trade cryptocurrencies.


Images courtesy of Shutterstock

Bitcoin Congestion Reaches 95%; Fees Remain Relatively Low

Bitcoin blocks experienced up to 95 percent congestion this month, but it didn’t impact its transaction fees, which remain at around $0.1Cryptocurrency analyst Willy Woo published a graph to demonstrate a stark comparison between BTC transaction fees in two separate congestion episodes. The first case was from 2017, the year that witnessed Bitcoin congestion topping up to 85 percent and its fees peaking to as high as $25 per transaction. The other is from the present when the average Bitcoin transaction fee is close to $0.10 per transaction regardless of the all-time high congestion rate.Source: Willy Woo Twitter ProfileUnlike a centralized payment settlement network, the Bitcoin network confirms the transactions when its network of nodes – called miners – reaches a consensus to mine a block. Each block can cater to more than 500-transactions on average, with its small 1 MB size limit. As the BTC volume goes up, the speed of a BTC transaction goes down, allowing the network to raise fees to confirm transactions faster by providing more hashpower. It is the very reason why – in 2017 – the transaction fees jumped to its all-time high upon an increase in congestion rate.Segwit and Lightning NetworkBitcoin Core proposed to improve the digital currency’s network scalability issues by implementing a soft fork called Segregated Witness (Segwit). The group of developers would separate signature data, which was the part of the original Bitcoin blocks and covered 65 percent of its size-space, and move it to a separate structure in the end, away from the Merkle Tree record of who is receiving or sending bitcoin tokens. The network reached consensus for a soft fork, and SegWit became a reality on August 23, 2017.Segwit also upgraded the Bitcoin network for solving its malleability issues, which further paved for the launch of the Lightning Network. The solution would aim to be the microtransaction network of Bitcoin, removing small transaction requests from the main blockchain and processing them on off-chain. It would put the record on the main blockchain at the beginning and end of their execution.The combinative solution of Segwit and Lightning network to Bitcoin reflects in the chart published on Willy Woo twitter account, hinting that the digital currency’s core protocol is improving gradually.Bitcoin CashDespite improvements, the original Bitcoin continues to feel the competition from its forked version Bitcoin Cash. Though the latter has lesser investor sentiment, which keeps it slightly behind Bitcoin, the fact that it is processing over 9 million transactions in a day makes it a serious player in the crypto market. The Bitcoin Cash network does not opt for SegWit but instead has increased the block size from 1 MB to 8 MB to process more transactions in lesser time.Well, I predict once blocks are consistently full again (doesn’t take much) fees will zoom up again. Improvements on that have been minimal.— Jacob Eliosoff (@JaEsf) October 20, 2018Miners still feel that Bitcoin Cash has a long way to go, mainly because its value is far lesser than that of BTC. It means that miners would make more profits by mining BTC over Bitcoin Cash against similar investments. Unless the adoption level and value of Bitcoin Cash grows, BTC would likely lead the game of mining.