Luzern: Privatbank nähert sich der TokenSuisse AG ...

Ukraine nationalizes its largest bank, PrivatBank - when *fiat* means *failure*. Bitcoin surges with this news in Ukraine.

Ukraine nationalizes its largest bank, PrivatBank - when *fiat* means *failure*. Bitcoin surges with this news in Ukraine. submitted by btcluvr to Bitcoin [link] [comments]

Ukraine nationalizes its largest bank, PrivatBank - when *fiat* means *failure*. Bitcoin surges with this news in Ukraine.

Ukraine nationalizes its largest bank, PrivatBank - when *fiat* means *failure*. Bitcoin surges with this news in Ukraine. submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Ukraine nationalizes its largest bank, PrivatBank - when *fiat* means *failure*. Bitcoin surges with this news in Ukraine.

This is an automatic summary, original reduced by 45%.
Ukraine has nationalized its largest bank, PrivatBank, to prevent a potential financial meltdown in the Eastern European country.
The Ukrainian government said in a statement Sunday it was now the "100 percent owner of PrivatBank and guarantees the uninterrupted functioning of this institution and the safety of its clients' money."
Oleksandr Savchenko, head of Kyiv's International Institute of Business, told the "Kyiv Post" that the country's banking system would not survive if PrivatBank were to close.
"Other banks would not be getting their loans back from PrivatBank, a series of bankruptcies would begin, and there would be panic," Savchenko told the English-language weekly.
The bank's director of IT wrote on his personal Facebook page that "The decision to voluntarily and peacefully hand over the bank to the government was taken at the very moment that we understood that these media attacks - which we could survive - could endanger our clients." He also called the decision "Unexpected news."
PrivatBank deputy CEO Oleg Gorokhovskiy said the most important thing was that Ukrainians' money was still safe.
Summary Source | FAQ | Theory | Feedback | Top five keywords: bank#1 PrivatBank#2 money#3 loans#4 owner#5
Post found in /Bitcoin, /worldnews and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

This is what I saw today on login page of Privatbank, Ukraine's biggest bank.

This is what I saw today on login page of Privatbank, Ukraine's biggest bank. submitted by m-m-m-m to Bitcoin [link] [comments]

I am a CTO of a "blockchain technology" startup, AMA

I've seen a lot of confusion regarding 'private blockchains' (aka permissioned ledgers, distributed ledger technology, ...) lately, and I think I'm in a good position to clarify what this technology is about, and what does it mean for Bitcoin.
First I'd like to introduce myself via facts of biography and projects I've been involved in:
Through the years I mostly worked with the Bitcoin blockchain, but I also researched private blockchains and talked with potential customers who might want to use a private blockchain or something like that.
So I'd like to address some common questions and misconceptions I've seen on /bitcoin.
Rhetoric question: Isn't a private blockchain just a database? Can't banks just use SQL as usual?
Answer: It certainly can be classified as a database, of a special kind. The Bitcoin blockchain is actually also a database of a special kind. They can certainly use SQL, but SQL, by itself, doesn't provide means of sharing a database between multiple parties in a secure way.
Use of SQL and use of blockchains isn't mutually exclusive. SQL is being used by a number of Bitcoin projects, for example: blockchain.info, Coinbase's Toshi, Abe block explorer, and Chromanode. There is at least one Bitcoin full node implementation which uses SQL: bits of proof supernode.
Question: Can't banks just use a distributed database or a shared ledger?
Answer: Modern distributed databases are designed with an assumption that all computers in a cluster are trusted. If an attacker can hijack a single computer of a cluster, he can compromise the whole clustedatabase.
Thus this software products aren't suitable for a case when a database needs to be shared between multiple parties which do not unconditionally trust each other. E.g. suppose banks A, B, C decided to share some database between themselves. If C's IT team fucks up, whole database might get corrupt.
Byzantine fault tolerance is an old concept, but it's rarely used in enterprise software. So there are no secure shared database products banks could use.
Bitcoin sparked new interest in secure distributed technology by demonstrating that it's actually possible & feasible. Now banks want it. Products which are inspired by Bitcoin and its block chain approach, and so they are often called "blockchains".
Misconception: A blockchain without proof-of-work makes no sense.
Answer: It was demonstrated that proof-of-stake can be quite good, both in theory and in practice. PoW and PoS have different security characteristics, which one is better is a matter of an opinion.
Other BFT consensus algorithms can be combined with a blockchain approach, e.g. Ripple/Stellar consensus, or PBFT-style three phase commit. They have well-understood security properties which differ from PoW and PoS.
In my opinion, if something has a chain of blocks, it can be called a blockchain. But if you want to understand a blockchain in a very narrow sense I don't mind, there are other terms like 'distributed ledger' which can be used instead.
Misconception: Banks use permissioned ledgers to implement "bankcoins", which are going to fail.
Answer: As someone who talked with many people from many banks, I can tell you they have very little interest for 'bankcoins', i.e. things which resemble Bitcoin. They might experiment with things like that just for shits and giggles, but there are no plans to launch it for real.
Banks plan to use permissioned ledger either to improve processes which are currently inefficient or non-secure; or to enable new business models.
Misconception: Banks should just use Bitcoin instead of this permissioned ledger mumbo-jumbo.
Answer: Bitcoin isn't suitable for things which permissioned ledgers aim to solve. It's, like, not related.
It would certainly be nice if banks provided Bitcoin services, but for them it's too much PITA with little to no benefits, as Bitcoin market is too small. Privatbank in Ukraine provides a Bitcoin payment service to merchant, kinda like Coinbase. So it's possible, just not common now.
So I think that Bitcoin can peacefully co-exist with private/permissioned blockchain/ledger technology: they aim to solve different problems, in different ways. There is some risk of a "bankcoin" competing with Bitcoin in future, but it's very small.
On contrary, I think adoption of crypto-based tech by banks is actually good for Bitcoin, as e.g. irreversible crypto money can be used for secure fiat <-> Bitcoin exchanges, which is good for Bitcoin, as it might reduce a hassle of buying Bitcoin, and thus increase userbase. Devices used to keep crypto bank money might also be used as secure Bitcoin wallets, etc.
I'll be happy to answer questions related to projects I've been involved in or blockchains in general.
submitted by killerstorm to Bitcoin [link] [comments]

Ukraine's biggest lender PrivatBank nationalised

This is an automatic summary, original reduced by 55%.
The country's central bank said the problems faced by PrivatBank were mainly caused by its "Imprudent lending policy" which led to capital losses.
The National Bank of Ukraine declared PrivatBank insolvent on Sunday.
Central bank governor Valeria Gontareva said they were confident the decision to transfer PrivatBank to state ownership was "The only possible way to protect deposits placed with this bank and rescue the financial system".
The stress test on PrivatBank revealed that the bank had capital shortages, which, the central bank said "Apart form the crisis-related factors, were caused by imprudent lending policy pursued by the bank".
The NBU said at the beginning of this month that the bank had a capital shortfall of about $5.65bn and about 97% of its corporate loans had gone to companies linked to its shareholders.
"Ensuring that all banks operating in Ukraine meet capital and regulatory requirements is essential to maintain public confidence in the banking system and reinforce the banks' ability to support productive activities necessary for the prosperity of the Ukrainian people," she added.
Summary Source | FAQ | Theory | Feedback | Top five keywords: bank#1 PrivatBank#2 capital#3 million#4 central#5
Post found in /worldnews, /btc, /globalfinance and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Ukraine nationalizes its largest bank, PrivatBank

This is an automatic summary, original reduced by 45%.
Ukraine has nationalized its largest bank, PrivatBank, to prevent a potential financial meltdown in the Eastern European country.
The Ukrainian government said in a statement Sunday it was now the "100 percent owner of PrivatBank and guarantees the uninterrupted functioning of this institution and the safety of its clients' money."
Oleksandr Savchenko, head of Kyiv's International Institute of Business, told the "Kyiv Post" that the country's banking system would not survive if PrivatBank were to close.
"Other banks would not be getting their loans back from PrivatBank, a series of bankruptcies would begin, and there would be panic," Savchenko told the English-language weekly.
The bank's director of IT wrote on his personal Facebook page that "The decision to voluntarily and peacefully hand over the bank to the government was taken at the very moment that we understood that these media attacks - which we could survive - could endanger our clients." He also called the decision "Unexpected news."
PrivatBank deputy CEO Oleg Gorokhovskiy said the most important thing was that Ukrainians' money was still safe.
Summary Source | FAQ | Theory | Feedback | Top five keywords: bank#1 PrivatBank#2 money#3 loans#4 owner#5
Post found in /worldnews, /Bitcoin and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Petya virus-extortionist attacked Russian and Ukrainian companies The objects of attack were oil, telecommunications and financial organizations. The virus blocks computers and requires 300 dollars in bitcoins.

The extortionary virus Petya caused a large-scale attack on oil, telecommunications and financial companies in Russia and Ukraine, RIA Novosti reported to the Group-IB company, which specializes in solutions for the early detection of cyberthreats. He blocks computers and requires 300 dollars in bitcoins. The attack occurred about 14.00. Judging by the photos, this is the cryptoclayer Petya. The method of distribution on the local network is similar to the WannaCry virus. Press-service of Group-IB, specializing in solutions for early detection of cyberthreats According to preliminary data, the network affected Bashneft and Rosneft, as well as Ukrainian companies Zaporozhyeoblenergo, Dneproenergo and Dnipro Electricity System. "Mondelez International, Oschadbank, Mars," New Mail ", Nivea, TESA and others. The Kiev underground was also subjected to hacker attack. Government computers of Ukraine, Auchan shops, Ukrainian operators (Kyivstar, LifeCell, UkrTeleCom), Privatbank have been attacked. Borispol airport, presumably, also underwent a hacker attack, "the representative of Group-IB added. The virus caused a failure in the work of the Kiev Metro: passengers can not pay for travel with the help of bank cards. In turn, Deputy Prime Minister of Ukraine Pavel Rozenko said that all computers in the Cabinet had been hacked. Kiev airport Boryspil warned of possible delays in flights. "Today, at the airport and in several large enterprises of the public sector, a freelance situation is a spam attack. Our IT services are trying to work together to resolve the situation, "wrote acting airport director Yevgeny Dykhne on his Facebook page. "Everyone can hack." What showed the cyberattack WannaCry Previously, Rosneft reported on the attack on its servers. The company noted that immediately switched to a reserve production management system, which allowed to avoid the stopping of oil production. The WannaCry virus has attacked hundreds of thousands of computers around the world on May 12th. Then the hackers used a modified malicious program of the US National Security Agency: the intelligence tool, known as eternal blue, was combined with WannaCry's "extortion program".
submitted by xigoryok to BitcoinAll [link] [comments]

VERY, VERY BAD NEWS FOR BITCOIN!!!!!! [but this can safe ... Bitcoin as decentralised digital money and its monstrous monetary hunger  Manuel Andersch THIS IS HUUUGE!!!! BITCOIN NEWS CONFIRMING $30,000 BULL ... COULD BITCOIN SUDDENLY DUMP TO THIS PRICE DUE TO THIS RARE ... BitCoin ATM, Minerva & Metronix

Bitcoin has proved to be miracle in the past decade, for anyone who want to grab the last chance to make Bitcoin into real wealth, GraBTC is your perfect choice and correct answer. As a fully registered company based in the United Kingdom, GraBTC focus on Bitcoin mining, trading and financial investments. The now nationalized PrivatBank is an ideal launchpad for the Ukrainian government to encourage digital currency adoption in the country. Also, the probability of the government doing just the opposite is high as well. Either way, the actions of PrivatBank under the new management may have a considerable impact on the country’s Bitcoin ecosystem. Customers of Falcon Privatbank can now purchase, sell and manage Bitcoin directly via online banking or via their customer adviser. ... The Bitcoin News. Bitcoin News. TheBitcoinNews.com – Bitcoin News source since 2012. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to ... Buy Bitcoin Privatbank Impossible perhaps: 1: bitcoin money value Surges by Over 5 With Extra Upside Potential: 1: Broker recomendado para Bitcoin: 1: Борса за криптовалути и биткойни Коя е най-добрата личен опит ... Trending Bitcoin News and Market Sentiment April 5th 2020: Bitcoin Traders and ... Bitcoin News Schweiz. Erst vor gut wurde die Zusammenarbeit mit der Hyptothekarbank Lenzburg bekannt und nun folgt eine weitere Nachricht aus der Schweizer Banken- und Kryptoszene: Das erfolgreiche Schweizer Blockchain- und Kryptowährungs-Startup TokenSuisse verstärkt den Verwaltungsrat. Neu im Verwaltungsrat Einsitz nehmen top Banker der auf die Vermögensverwaltung spezialisierte Schweizer ...

[index] [12628] [13242] [25730] [6765] [8407] [23378] [20699] [24479] [7927] [15247]

VERY, VERY BAD NEWS FOR BITCOIN!!!!!! [but this can safe ...

Bitcoin is the first form of money that is both: digital and decentralised. In his talk, Manuel will explain why this is kind of big deal and how the three general problems of digital money are ... Im Auftrag vom Bitcoininformant unterwegs: http://bitcoin-informant.de BIBLIOTHEK zum THEMA Bitcoin und Blockchain https://www.facebook.com/Cryptokosmos/ sch... BITCOIN: That would be VERY BAD NEWS for Bitcoin!!!! Will it happenn? Well look at this and see! $502 FREE on our Trusted Exchanges! 🔶 Bybit: https://bit.ly/... Data reveals that the number of bitcoin addresses holding more than 1000 bitcoin has surgedio ramos to 1875. Roughly this time last year it was around 1725 - an increase of 8.9%. Mit 01 Jänner 2020 dürfen BitCoin ATMs nur mehr €250,- anonym auszahlen. Minerva hält vom 22. bis 23. Februar die 1. Poseidon Akademie im neuen Jahr 2020 statt. Veranstaltungsort: Hotel ...

#