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Constitution DAO has to deal with Uncertainties

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Constitution Dao Has To Deal With Uncertainties

What will happen to US$49 million worth of donations? This is the question now that the world’s most ambitious and recent cryptocurrency experiments are done. What will be done with the monies raised and other important questions remain unanswered.

Sotheby’s auction house hosted a peculiar bidder on Thursday night. The bidder was ConstitutionDAO. ConstitutionDAO is an ad-hoc group. It has an excess of 17,000 donors. These donors collectively contributed towards purchasing a rare print of the Constitution of the United States of America.

About the Bidding

The bidding concluded at $43.2 million. This was less than the $49.5 million that the DAO managed to raise. This amount estimated, and connected to the costs of logistics, storage, insurance, and auction fees, among other overheads prevented the DAO from making a higher bid. A DAO (decentralized autonomous organization) is a gathering of people on the internet that use various tools to exercise governance decisions in various arenas.

On Friday, Wall Street Journal reported that the Billionaire, Ken Griffin, known for his hedge fund management, outmatched the group. Numerous observers applauded the attempt by the DAO’s however, because of the extraordinary effectiveness that DAOs displayed as a coordination resource. The whole project was birthed and executed in under 7 days in what members considered a company in “hyper-growth”.

Yossi Hasson, the CEO of Metaversal said in an interview with CoinDesk that many of the people involved were strangers on Thursday but managed to work together on a single goal of purchasing a copy of the US institution. Hasson contributed the most with 1,000 ETH ($4.2 million).

Questions and Opportunities

Lessons have been learned even if this grand ambition did not bear the intended fruit. However, there are more questions than could have been anticipated. Who gets to keep the money that was raised? What happens now to the DAO tokens for this failed project? Is this the first case of some sort of crowdfunding movement in the market place? It certainly sounds like something the world could benefit from considering all the worthwhile causes that exist out there that are underfinanced and need support.

What will happen to the Artifact?

Initially, the Citadel founder said he did not know how to think about crypto like bitcoin and thus never did. However, later in the year when prices of bitcoin blew up, he called crypto a “jihadist call” against the United States Dollar. Now, the billionaire hedge fund manager, Ken Griffin has purchased this artifact and will reportedly donate this document to a museum.

How were funds raised?

DAO raised these funds over a tool called Juicebox. Juicebox is an Ethereum-based community fundraising tool. When members of the DAO donated with ETH, they received in exchange PEOPLE. PEOPLE is an ERC-20 token that would have given owners the access rights to ConstitutionDAO. ConstitutionDAO would have been managed by an LLC. The LLC would have owned the document. There has been speculation on the price of PEOPLE possibly gaining value on an auction win. It did immediately after donations were closed for a brief period. However, the token has now crashed once news broke that the DAO lost the auction.

How Will the funds be returned?

What will happen now, you may be wondering. That’s a good question, especially since this is a whopping US$43.2 million and change. The good news for those that submitted their donations is that they can claim their funds (excluding fuel fees). The official Discord provided information on the return’s process but more information is to be released. We do not know if users will look at exchanging PEOPLE for ETH. We also do not know if donating addresses will be able to get refunded the monies they added.

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Business News People

What Appointing Omarova for OCC Means

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What Appointing Omarova For Occ Means

Saule Omarova was elected as the new Comptroller of the Currency. Brian Quintenz gave his opinion on the decision to elect a new Comptroller of the Currency. He is the the former commodities regulator and a proponent of the cryptocurrency industry. Saule Omarova took the stand on the 18th November 2021. There’s controversy around her support for public banking and her professed skepticism of some elements of private finance.

Omarova’s Career

Though her career in the industry has been brief, she has a prominent voice in the industry. Omarova has also published a number of papers sharing her take on the industry and regulations. In particular, she has made her case for boosting the Federal Reserve’s role in consumer banking. She says this would help cartel private banks feeding into unnecessary speculations. It would also help curb frivolous spending in the fintech sector and crypto sectors. For this reason, experts in the area have considered her a “radical choice” by US senators. Some people against her appointment are those concerned about her connection with old soviet Russia. In 1989 she won a scholarship whilst studying philosophy at Moscow State University in 1989. In addition, she has also been criticized for xenophobia, partly because of this.

Omarova’s Views

Also, Omarova is considered a radical choice by some, her opinions speak for a growing view among regulators. This view is that cryptocurrency needs to be brought under their authority. Omarova supports both cryptocurrency and the publicly run banking system.

In an interview with the New York magazine, Omarova shared further. She said her tough stance on regulation is meant to boost the banking sector. This being a sector that many lost confidence in, especially in America following the 2008 financial crisis. She added in this recent interview that people should welcome regulation that is reasonable, rational, and good as it assists everyone to do well and not be pushed out by the “bad guys”.

OCC estimates that it oversees 1000 banks and institutions worldwide, worth almost US$15 trillion. These institutions include several cryptocurrency firms that were given national charter after ex-head Brian Brooks made way for them in his final year.

Concerns

Some people are worried that a new leader at OCC that has her controversial opinions on cryptocurrency may take the industry backward from some of the progress Brooks made during his tenure of office. In an interview last month, Brooks stated to CoinDesk that he felt certain the progress he made would stand firm because of the legal measures he placed.

Quintenz said that once people – especially in independent agencies – are confirmed to lead them, they have a lot of power to make decisions using a lot of flexibility in the law. According to Quintenz, this can unfortunately can be done in ways that doesn’t necessarily provide a lot of accountability to Congress or the American people,” Quintenz said.

Omarova’s Opinion

Omarova stated her observation on academia and the federal body. Her take is that considering ideas in an academic setting and trying to make them happen at a federal level whilst leading are different matters. Back in 2019, she felt that crypto and fintech could “revolutionize” finance. Now, possibly doubtful that that is possible, she still supports the underlying premise. Omarova agrees with the industry’s most prominent values: privacy and data security. She says she is concerned about improving financial inclusiveness and lowering the unfair advantage of banks.

Associate research scholar, Raúl Carrillo, from Yale Law School, opined on CoinDesk that Omarova might end up being an important supporter of the cryptocurrency industry. Whatever the case, Omarova has a tough job ahead of her. Her appointment will not be easy. If just one senator on the Democratic side of the US Senate decides to vote against her, she will lose her nomination. Many experts believe she will not get confirmed, including Ellen Brown of the Public Banking Institute.

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Business News People

Kleiman v. Wright: Mental Health Expert Explains Craig Wright Diagnosis

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Kleiman V. Wright: Mental Health Expert Explains Craig Wright Diagnosis

On Friday, the 19th November 2021 the trial between Craig Wright and Ira Kleiman convened again. This is a federal civil trial. On this occasion, the day’s proceedings were mainly that of a testimony of a mental health expert, Dr. Ami Klin. The expert asserted that Wright is on the autism spectrum and as a result has faced some lifelong challenges.

The Contention

Wright says that he alone invented bitcoin. However, Ira Kleiman, the custodian of his deceased brother Dave Kleiman states otherwise. Kleiman insists that Dave assisted in the invention of Bitcoin. Kleiman described it as something of a partnership between Dave Kleiman and Craig Wright. According to him, he, therefore, shares in the ownership of any assets generated jointly. These assets would therefore include intellectual property and US$66 Billion of bitcoin. Wright however claims that Dave Kleiman was only his friend. A business partnership did not exist and what they did involving bitcoin was nominal.

This civil suit is based on the claim by both sides of the case that Craig Wright is somewhat the creator of Bitcoin. For about 5.5 years this claim has been pushed but remains unsubstantiated. Likewise, uncertainty remains on who owns many bitcoin addresses and coins.

The Bitcoin Crypto and Taxation

This day’s case proceedings started with a continuation of testimonies. David Kuharcik, a finance professional who handled accounting for Dave Kleiman’s federal tax returns and returns for Kleiman’s business called Computer Forensics LLC that he founded with two partners.

Amanda McGovern, defense attorney led the finance expert through a tax return review and showed that there had never been any reference to bitcoin. The plaintiff’s counsel, Kyle Roche, got Kuharcik on cross-examination to admit that only in 2014 did IRS publish formal guidance for reporting bitcoin mining and gains in tax returns. However, Dave Kleiman became deceased in 2013, one year before these IRS guidelines were issued.

The Relevance of Wright’s Autism Diagnosis

The mental health expert, Dr. Ami Klin who has experience working with people on the autism spectrum was called thereafter. Dr. Klin heads the Marcus Autism Center at Children’s Healthcare of Atlanta and is Chief of the Division of Autism and Related Disorders at Emory University School of Medicine, Department of Pediatrics. The doctor stated that Wright was an example of an individual on the autism spectrum with high intelligence. He added that some people with Autism may be proficient with other interests like languages and obsessively focus on specific topics and facts. They may also speak with excessive confidence and sometimes appear to others as disrespectful. He shared that this is the case because they may not always pick up on innuendo, nuance, or other meanings within sarcasm, metaphor, or humor. They may also miss social cues as they interact with others and be unaware that others are observing their behaviors.

Klin shared that because of Wright’s very specific interests, he has had a very limited number of friendships, however, this is not uncommon with people who have Autism. He added that as an adult, Wright’s attempts at talking to others about his interests often turn into lectures and would focus on his interests alone. This lack of social prowess can also make people with Autism vulnerable to others that may not have their interests at heart. Klin stated that he reviewed Wright’s demeanor in court proceedings, also conducted an evaluation, and interviewed Wright directly over video online. His colleagues also conducted interviews with Wright’s wife and several relatives of his.

Way Forward

Klin’s testimony is not complete. He is slated to continue his testimony on Monday. After that, Wright is to return to the court stand on Monday or Tuesday. Both counsels on opposing sides of the bench said they how to submit their closing arguments by Tuesday. Since Thanksgiving is approaching, there will be no other proceedings next week.

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Business News NFT

Art NFT Sales Rising

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Art Nft Sales Rising

Art NFT sales are rising at the same time this year, the market experienced two booms. These booms happened at around the same time internet searches for “NFT” spiked.

The first Rise in Internet Searches

This first increase in internet searches for NFT occurred after the highest-paid price for a non-fungible token was made. This NFT was for the Beeple’s photo collage titled “Everydays: The first 5,000 Days”.

This item was valued at US$69 million at auction. The photo collage went to market through Christie’s online auction website on the 11th of March. This photo collage made headlines because it was the first NFT on earth to ever be sold at auction at a prominent auction house. The buzz around the sale also hyped up the work and helped promote the growth of the market. On the 1st March, monthly sales volume was at $32 million. On the 1st of April, market sales had grown to $83 million. 

The Second Rise in Internet Searches

As for the second rise in NFT internet searches, this occurred on July 31st, 2021. This was when collectibles in the NFT market registered sales from $1.2 billion to $4.65 billion by 30th September 2021 in yearly sales. The search volume for “NFT” peaked when this incident aligned with two of the most well-known AI-generated collections. These AI-generated collections were CryptoPunks and the Bored Yacht Club. 

Ownership

Network scientist, Albert-László Barabási, shared his insights on transactions in a May 2021 New York Times article. His analysis was taken on the SuperRare crypto art NFT online service. The expert analyzed the transactions on the service. He reviewed co-owned art NFTs. He considered each work of art a “node” on the platform’s transaction network. He also looked at how many of the same art NFTs had previously had other owners. The network scientist put into consideration the trend of art collectors to trade pieces of art within a type of art. This type of art can often be because the art is from the same creator, has the same style, genre, or artistic medium. 

Insights of on Art NFT Transactions

Through his insights, he concluded that only a small number of collectors were buying expensive art NFTs. Barabási discovered that these were 4 buyers, with just 3 degrees of separation between them and 16,000 pieces of art that they owned at various points in time. 

Moonstream reported in a cryptoanalysis of the Ethereum blockchain of April to September that there is an imbalance in the Ethereum NFT marketplace. The report found that 16.71% of top buyers control 80.98% of the NFTs. 

What is even more interesting is that many of these are sales of NFTs with the most extrinsic value. Such NFTs include name service NFTs. The source also found that 83.29% of the addresses indicated as that for NFT owners was for less than 10 Ether. Though Moonstream data takes this from a more inclusive stance of the marketplace, the report’s findings seem to support that of Barabási. A significant number of the owners of NFTs are collectors and even marketplaces. 

Since this market is still young, it should not be surprising that many savvy investors are still not yet on board with art NFTs. Most investors globally are yet to even dabble in it, with many American tech-savvy investors still holding back for now. 

Will it become a household phenomenon?

Popularity may take a while for art NFTs to get widespread acceptance. In April 2021, an article on Artnome shared what they believe is one of crypto art’s most prominent accomplishments. They said to “puncture the illusion of contemporary art as a space for ‘high’ culture.” Artnome also considered the impact that speculation has on the perceived value of artworks. For those still interested in jumping on the bandwagon, the industry is booming and more offerings are mushrooming. There is an opportunity to explore the art NFT market for those that like to dabble. 

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News NFT Technology

“The NFT Bay” Attracts 1.2M users with Artwork Archive

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“the Nft Bay” Attracts 1.2m Users With Artwork Archive

Geoffrey Huntley, an Australian software engineer based in Adelaide, Australia created the (NFT) Bay. The NFT Bay contains a repository of NFT (Non-fungible tokens) copies showing that they are simply instructions on accessing and downloading image files. Included in the archive are numerous JPEG images of the NFTs. If you are looking for secured tokens, this repository does not include the blockchain-secured token, for obvious reasons.

The online resources were launched this past Thursday. The developer selected a bare-metal server to rent for this platform. The service currently costs him USD $145.50 per month and includes a total of 40 terabytes of hosting space on SATA disks in RAID0. Based on its popularity with over 1.2 million visitors, we can safely say that it looks very promising indeed. With the fact that the new service has had to accommodate over a million visitors, we can also safely conclude that the platform is handling the viral traffic levels quite well. The NFT Bay boasts of a 17.96 terabyte repository of copies of non-fungible token files. It is possible the public needed a resource like this. After all, over 1.2 million users have visited the fledgling service.

The developers of the platform did a clever job of making the website look like one of the most popular websites in the world, and the most popular torrent website: PirateBay. It is a clever decision on their part. The design may help instill a sense of familiarity among users that are used to using PirateBay and other torrent services.

About the Website

The NFT Bay, just like Pirate Bay, has the same logo layout. It has the ship, color scheme, and a minimalist home page design. The main difference, apart from the name, is that in Pirate Bay people usually download movies and television shows. In The NFT Bay , people can download JPEG copies of NFTs instead.

What Critics have to say?

Critics have various views on this new buzzing online service. Some see it as just a prank. One critic described it as basically an educational art project. The critic said it can help people become more conscious of their NFT art purchasing habits. Additionally, it can help people understand what it means when they buy NFT art. Huntley, the developer of the platform explained to Cointelegraph in an interview. He shared that most people do not understand what the technology – NFT – actually is. The developer thinks that most people are buying the JPEG file and not the most important part: the non-fungible token itself. He also added that unscrupulous people, aware of this ignorance in users are unfortunately exploiting this ignorance.

Huntley stated that the image file is not kept on the blockchain. He added that most images that he has seen are kept on Web 2.0 servers. For this reason, at some point, the resource’s link would likely display a file missing error (404).

The CEO of West Coast NFT, Steve Mitobe disagreed with this train of thought. In an interview with the Cointelegraph, Mitobe highlightted that the general standard for NFT is utilizing decentralized network storage solutions like Arweave or IPFS. He stated that usage of these types of system solutions is beneficial. He reasoned that NFTs stored with these systems can therebe recovered and are permanent, ensuring that 404 (missing file) errors are not an issue.

Now that The NFT Bay has attracted 1.2 Million users, there is excitement for many. Some critics were somewhat in support of this new project. Drew Hess, an England-based software developer took to Twitter and shared his thoughts. He felt that this project could have a positive effect by helping to disabuse users that NFTs are intrinsically valuable.

The founder of The NFT Bay, Huntley, seems content with how the project is going so far. With The NFT Bay having gone viral, perhaps that is to be expected.

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Blockchain Business Technology

Top Strategy for Freelancers leverages Blockchain Tech to Cut out the Middleman

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Top Strategy For Freelancers Leverages Blockchain Tech To Cut Out The Middleman

Self-employed workers have become a pivotal element of modern society in this tech age. They provide crucial skills for enterprise and also contribute to their economies of operation, worldwide. Platforms like Upwork, Freelancer, and Fiverr bridge the gap with technology. They help connect freelancers scattered across the world to potential employers everywhere. For that reason, platforms that provide talent markets generate billions of dollars of business each year. Sadly, the biggest platforms on the market have hogged the spotligh. They have taken large percentages of the profits earners would otherwise enjoy. This makes it more challenging for these freelancers to maximize their earnings. Of course, one can easily argue that without such platforms, these workers may never have had the opportunity to connect with these clients they find there. This is a very fair and important point.

Concerns about Current Talent Market Places

Those are not the only concerns. Though these online talent markets may dominate the market, they also face the same challenges most businesses face across the industry. Such challenges include the difficultly of finding workers with the ability to produce quality work consistently. On the other side of the coin, freelancers taking up the challenge of hustling online are at the whim of the powers that be. The authorities can change and make policies and decisions that may not always be in their best interests. One primary qualm of many freelancers is that of the percentage that the authorities have to deduct from the monies they generate from their freelancing. In many cases, this percentage may be 20% and above.

Using blockchain technology could well be the solution that many freelancers decide to turn to cut out the middle man and keep more of the hard-earned money they make. Smart contracts are also used to make the process easier and more streamlined. Several companies are seeing the potential and need. One such company ready to disrupt the industry is Okratech Token. Okratech Token has revealed their new platform, OrtJob, as a new player in this space. OrtJob aims to help freelancers do their jobs more smoothly by providing a self-governing DAO driven completely by decentralized finance (DeFi). One of the main perks of this model is that if freelancers or their clients experience disputes, professional mediation is included in this model. In addition, clients can search for the best fit of workers for a specific job and at a mutually satisfying service rate.

An Error Free Process Using Blockchain

Ortcoin platform, another solution provider, gives businesses the opportunity to promote their projects and take bids from interested workers. After bids from freelancers are received, the owners of the project have the chance to review the bidder’s proposals and profiles and to message them in real-time. They have the opportunity to find workers that would be ideal for the job. If the project owners feel that they found the right person, they can then award them the work opportunity. The platform also allows clients to pay based on milestones achieved by their workers. This process may sound pretty much like what one would expect in some of the major talent marketplaces. It is, essentially. What is the big and very important difference is that of the service fee. In this solution, there is no fee. Workers get to enjoy their hard-earned money. This is possible because of a blockchain layer that decentralizes the application’s services and allows the service to run without human intervention. With this key element out of the way, costs are significantly much lower.

An Innovative Solution

There is nothing like this and so this solution stands out. Many freelancers having to part with a talent platform’s fee, and withdrawal fees. Others also have to part with fees to cash their funds from their local ATMs globally. What they end up taking home could be a far cry from what they earned. This innovative solution serves a global audience with the opportunity of making earning a livable wage that much more likely for all.

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Altcoins Bitcoin Ethereum News Price Analysis

Bitcoin is Hanging Steady, Ethereum and Altcoins are on the Up

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Bitcoin Is Hanging Steady, Ethereum And Altcoins Are On The Up
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Photo by Roger Brown from Pexels

The price of Bitcoin is now steady. At about $58,500, Bitcoin rebounded and is now doing much better. All those that were a bit nervous can now take a breath because bitcoin is in fact, back above USD 60,000. It is also strengthening. It’s worth keeping in mind that a close over USD 61,200 would most likely influence the price to hit the USD 62,500 resistance zone.

Most popular altcoins are bullishly thriving. Ethereum just shattered the USD 4,300 level and is currently up by 5%. XRP is also on the up, gaining momentum above the USD 1.12 resistance. ADA is also leveling up towards the USD 2.00 resistance level. Let’s take a closer look at each

Bitcoin Price is Steady

Bitcoin declined quite sharply but steadied at around the USD 58,500 mark. Thereafter it corrected upwards and began to trade at over USD 60,000. There is a possibility that the Bitcoin price may falter at the USD 61,000 mark. It is possible that a close over USD 61,000 might lead the price to the USD 62,500 resistance zone. As usual, only time can truly tell. Conversely, there is initial support near the USD 60,200 level, followed by the key support on the USD 60,000 level. Below this level, there is a possibility of the price of Bitcoin beginning a new decline.

Ethereum Price is Steady

If you invested in Ethereum, you will be pleased to note that the price stayed stiffly above the USD 4,000 and 4,050 levels. This stability has led to an increase of the cryptocurrency above the USD 4,250 resistance level. Having surpassed the USD 4,300 level, Ethereum is now trading around this mark. Initial support is around the USD 4,250 mark, if on the downside – with key support at the USD 4,180 level.

BNB, ADA, SHIB, SOL, and XRP Price

Binance coin (BNB)

BNB was at the USD550 support level, a base has been formed and now the price is on an upward swing. There is the possibility of the price surpassing USD 600 if BNB experiences an upside break. However, it is also possible that there may be a downward turn around the USD 565 support level.

Cardano (ADA)

ADA has, for now, recovered over the USD 1.88 and USD 1.90 resistance levels. If the price continues to climb, ADA currency holders may decide to sell around the USD 1.92 and USD 1.95 levels. The USD 2.00 mark is now the main resistance level.

Solana (SOL) Price

SOL is on an upward climb and is now comfortably trading around the USD 220 level. Its next resistance level it will face is the USD 225 level. If SOL’s price moves above this level, it may make herald a further increase in price towards the USD 235 mark.

SHIB Price

Unlike a number of the other cryptocurrencies, SHIB is still recovering but experiencing resistance around the USD 0.000050 level. There is the possibility that an upside break may help the price go higher. If it does, the subsequent key resistance is around the USD 0.0000525 level. If SHIB reach this level, then the price may move towards the USD 0.000055 mark.

Other Altcoins Markets Today

KDA, IMX, KCS, AVAX, UMA, WAXP, YFI, AUDIO, CRO, MATIC and MINA are all among the many altcoins that are now over 8% on the markets. Leading the pack is CRO at 46%, surpassing the USD 0.55 level. IOTX and LRC are down at around 10%.

In conclusion, bitcoin price is currently steady whilst likely to to strengthen over the USD 60,000 level. In the possibility that bitcoin rises above the USD 61,000 level, it could go upwards to the 62,500 resistance level. A few other cryptocurrencies’ prices are on an upward trend too such as Ethereum and BNB.

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Blockchain

Ripple Set To Launch Liquidity Hub For Six Cryptocurrencies

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More On Sec Vs. Ripple

Ripple just announced the launch of its new feature, called Liquidity Hub, that will allow financial service companies to offer their customers ability to buy and sell six cryptocurrencies including, Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash and its native coin XRP. The product is set to launch next year.

Founded in 2012, Ripple is closely associated with the cryptocurrency XRP. Its On-Demand Liquidity (ODL) solution, enables financial companies, in particular, to use Ripple’s XRP as an immediate currency to make international payments without having to use a correspondent banking system.

“While the XRP Ledger and XRP are and will remain a native part of our tech stack, we at Ripple believe that achieving interoperability is key to unlocking crypto’s true potential,” Ripple said in a blog post. The company also hopes to offer other digital assets like NFTs in the future.

XRP is the seventh-biggest digital currency globally, according to aCoinMarketCap data, with nearly $60 billion worth of tokens in circulation.

Ripple also has a platform called RippleNet, which is a financial messaging service that is used by banks and other financial firms to make international payments. Ripple touts RippleNet as a competitor to SWIFT, the global interbank payment network.

“The combination of Ripple’s crypto DNA and long history working with financial institutions makes us uniquely positioned to address this problem for our customers as they prepare for a tokenized future,” said RippleNet’s GM Asheesh Birla about Liquidity Hub.

The cryptocurrency sector has been on a bit of a rollercoaster ride with authorities and regulators as it is being watched rapidly over concerns about its lack of transparency.

The Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple and executives Brad Garlinghouse and Chris Larsen for allegedly raising more than $1.3 billion through unregistered securities offering. The court case is currently in progress.

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Ethereum News Technology

More than $6M Worth of crypto seized from cybercriminals

Hacker
Indexed Finance $16 Million Stolen By Hackers

The US Department of Treasury has said that it will be imposing sanctions on the crypto exchange platform Chatex and its support network for allowing ransomware transactions. Attorney General Merrick Garland mentioned in a press conference that a notorious Ukrainian cybercriminal, Vasinsky, had been indicted by the Justice Department for hacking personal computers, as well as for being involved in a conspiracy to commit money laundering by requiring ransom payments.

The Department’s advisory update from November 8th put Chatex to the list of organizations sanctioned by the United States government, alongside IZIBITS OU, Chatextech SIA, and Hightrade Finance. The company allegedly has strong ties with Russian and Czech Republic company Suex OTC, which the Department of Treasury also sanctioned just two months ago.

The organization has been associated with numerous furtive activities; namely darknet markets, high-risk exchanges, and ransomware, according to the U.S. Department of the OFAC (Treasury’s Office of Foreign Assets Control). In fact, more than half of Chatex’s transactions are linked to ransomware groups.

According to the Department of Homeland Security, ransomware activities are highly profitable today majorly because of unprincipled organizations like Chatex, which launder and cash-out proceeds for cybercriminals.

OFAC said: “The Treasury will continue to deter further actions against the American people by using all available tools to disrupt malicious cyber actors, block criminal proceeds, and disrupt malicious cyber actors.”

The Department also added in the same announcement that Yaroslav Vasinskyi, a Ukrainian national, and Yevgeniy Polyanin, a Russian national, were part of the attackers engaged in ransomware attacks against numerous U.S. government organizations and private associations. Vasinskyi was arrested by Polish authorities last month and is expected to be deported to the United States soon.

Meanwhile, an indictment against Polyanin for 3000 different ransomware attacks that resulted in the theft of $6.1 million in crypto was announced by the Justice Department for which he is allegedly responsible. Any U.S. resident caught making transactions with either Chatex, Vasinskyi, Polyanin or anyone associated with the cybercriminals will be facing enforcement actions or sanctions as a $10 million bounty was offered by the State Department for any information about the location of the key members of Sodinokibi/REvil ransomware group can be provided. It is also planning to offer a $5 million bounty to anyone who can arrest or convict hackers that will try to launch ransomware attacks in the future.

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Bitcoin News

The Cryptocurrency Market Is Now Worth Over $3 Trillion

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What Investors Will Do If A Country Bans Cryptocurrency?

The digital assets market that has been around for a little over a decade has just quadrupled its last year’s value as it just hit a value of $3.3 trillion, according to CoinGecko. The market has added over $600 billion in value over the last month. This comes in as Bitcoin, the leading crypto, and altcoins like Ethereum and Solana continue to upgrade. Ether hit an all-time high of $4,885, advancing 3% more and Bitcoin is now at $68,066, rising as much as 5.6%.

Bulls are displaying excitement over the recent rallying in the industry as NFTs are becoming widely adopted and meme coins like Dogecoin and Shiba Inu are attracting attention. Binance Coin and Solana have added more than 20% in the past week. All the biggest coins have been steadily going up over the last week.

Some associate Bitcoin’s rally to Tesla’s Elon Musk’s weekend Twitter poll that returned a result he should offload a significant amount of Tesla stock. Around the same time, Barry Silbert, one of the most powerful people in crypto, tweeted, “Going to be a big week,” setting off a flurry of crypto influencers repeating his prediction, though no one really knows why.

The crypto ecosystem is growing at a mind-blowing rate. A Bitcoin ETF, a launched on the New York Stock Exchange just last month. The financial instrument puts Bitcoin within the grasp of even more potential crypto investors.

This doesn’t make the industry any less volatile. The last time Bitcoin hit a number like the current one, it doubled back thousands of dollars and underwent several alterations that have taken it down a half and sometimes even more. Altcoins are even more volatile. Memecoins keep bouncing back and forth rapidly sometimes and frauds and hacks are going on a lot too.

More than 860,000 Ether has left centralized crypto exchanges since October 1st, according to data analytics firm IntoTheBlock, and over 8 million Ether has been locked in decentralized finance (DeFi).

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Bitcoin Blockchain Ethereum

BITCOIN AND ETHEREUM HIT NEW ALL-TIME HIGHS

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Five Cryptocurrencies To Watch This Week

Cryptocurrency prices today rebounded up with Bitcoin rising as far as $69,013 and the second-largest crypto, Ether, hitting $4,800. Both have more than doubled since June and have added nearly 70% against the dollar since the beginning of last month. These moves helped lift the total market value of cryptocurrencies to $3.3 trillion yesterday.

The price of the cryptocurrency traded 4.1% higher this afternoon, according to data obtained from coinmarketcap.com, taking out the last record set on October 20th which was a little below $67,000. The leading crypto has already roughly quadrupled from its 2020 year-end value. Overall, it has gained over 130% year-to-date.

Meanwhile, Ether, the coin linked to Ethereum’s blockchain, rose over 2% and hit a record high of $4,880. Ether has been trading around an all-time high, keeping up with bitcoin’s rally and riding on news of even wider blockchain adoption. Bitcoin’s ride has been going pretty volatile as the King coin plunged down below $30,000 five months ago amidst censures of its energy consumption and China’s crackdown on the industry. 

Aside from Bitcoin, other blockchain networks like Ethereum and Solana have continued to upgrade and attract new opportunities and functionality. Demand for Defi and NFTs is also increasing. Memecoins like Dogecoin and Shiba Inu also continue to rally and attract speculative investors. Bitcoin and Ethereum’s rally may create speculative capital creating inflows into other promising altcoins.

Categories
Blockchain Business DeFi News Technology

Decentralized blockchain will be beyond finances

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Decentralized Blockchain Will Be Beyond Finances

To be the long run lifeline of industries, blockchain technical schoolnology must embrace the old school quality of interconnectivity.

“Yahoo users won’t be ready to act via mail with Google email (Gmail) users,” — If tomorrow’s headlines seemed like this, the world would return to a halt. This headline shall ne’er see the sunshine for all the proper reasons. However, blockchain tech and its favorite son, redistributed finance (DeFi), are heading towards this rabbit hole.

Siloed blockchains with no window for external communication are dominating the emerging space. Interconnectivity is elementary and synonymous with the primitive human quality of being social. From the times of the barter system, transfer and exchange are the 2 core practices on that the globe has been built.

Networking among blockchains and therefore the want for IBC
Currently, blockchain applications and the DeFi juggernaut are nothing however a balkanized cluster of solutions failing to understand their true potential. To resolve this concern, blockchain networks have to be compelled to greet with alternative networks and be hospitable a sovereign network of interconnected blockchains.

The Inter-Blockchain Communication (IBC) protocol shall facilitate this shaking of hands. It lays the platform which will transfer knowledge across completely different networks and facilitates the cross-chain transfer of assets and tokens. And since IBC may be a blockchain agnostic protocol, it’s no native network and offers an unbiased resolution to the whole world of blockchain solutions.

Major blockchains, like Bitcoin and Ethereum, are siloed while not a transport layer. This limits their capabilities. Imagine Bitcoin having the ability to power Ethereum-based good contracts in an exceedingly permissionless manner. Had this been so, users would are ready to embrace the unbounded practicality of Ethereum’s smart contract aboard the world’s widespread currency in Bitcoin (BTC).

Related: A multichain approach is that the way forward for the blockchain business

Also, Ethereum’s measurability considerations are a testament to why siloed blockchains want Inter-Blockchain Communication. By creating networks interoperable, transactions is parallelized to avoid network congestion. exploitation IBC, Ethereum will validate transactions quickly with fewer gas fees, attracting a lot of folks to use the network and its applications.

Moreover, blockchains seeking to be enterprise-level solutions need IBC and ability to cater to their purchasers at scale. By facultative cross-chain transactions, networks like Ethereum and Bitcoin can get pleasure from institutional adoption. How? To date, these networks work on the probabilistic conduct of transactions, i.e., the determinateness of blocks. however with IBC, chains and peg-zones is accustomed guarantee finality.

With blockchain technical school jealous of revamping the operating of big industries like provide chain and healthcare, IBC injects a beverage of responsibleness into the technology and its solutions.

previous efforts to attain IBC were in collaboration fragmented
Inter-Blockchain Communication and ability aren’t novel ideas within the blockchain world. Efforts to achieve them are in the talks for years currently and there have been multiple comes operating towards connecting completely different blockchain networks. however the projects championing interconnectivity were themselves fragmented as their approaches, styles ANd use cases differed.

Protocols like Cosmos with its Tendermint core, Polkadot and Chainlink have championed IBC and ability in their solutions. The emergence and adoption of those solutions are an enormous stride towards an practical future.

Blockchain agnostic and omnichain is that the manner forward
Moving forward, exclusivity are the largest enemy of blockchain tech. In times of decentralization and community-first approaches, exclusive networks tread a dangerous path. Protocols should embrace IBC and supply solutions at scale.

Besides desegregation IBC, 2 weapons with that future protocols will equip themselves are blockchain agnostic and omnichain. this may take away the part of exclusivity and open them to limitless utilities across networks. it’d conjointly improve the practicableness and responsibleness for institutions, firms and perhaps even governments to adopt blockchain-based solutions.

The DeFi juggernaut catalyzed the expansion of blockchain and crypto area in 2021. ability and IBC are those to seem out for in the future.

Categories
Altcoins Bitcoin Blockchain DeFi News

3 Reasons Why You Should Avoid Meme Investments

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3 Reasons Why You Should Avoid Meme Investments

Meme investments may have started as a joke, but many investors are starting to take them seriously. Case in point: Dogecoin — a meme investment created to poke fun at the popularity of cryptocurrency. Despite being a spoof, US News points out that the cryptocurrency’s value has risen to more than 5000% since the start of the year, peaking at whopping 45 cents. If you’re one of those investors who want to invest in meme assets—either or fun or because you think it’s a lucrative option—it’s best that you know what you’re getting into first. So before you shell out your hard-earned money, here are three factors that you need to keep in mind.

They aren’t ideal for generating wealth

It’s important to note that meme investments will certainly not make you a millionaire overnight, or are they particularly good long-term investments. The posts on investing published by AskMoney explain the fundamental principles behind these specific investments. Going back to Dogecoin, one of the articles emphasizes that the meme crypto cannot sustain its high value because there’s potentially an unlimited supply of it. With millions of Dogecoins released each day, its demand, as well as its value, decreases. This is in contrast to Bitcoin, which can only exist in a finite amount. The lack of scarcity is actually detrimental to Dogecoin. In fact, its price hasn’t risen past 50 cents since its release in 2013. So if your goal is to invest for your house or retirement, you might want to look elsewhere.

Their high volatility makes them harder to sell

To get good gains from your investments, you need to study and decide when to sell them. Assessing your investment’s valuation, growth prospects, and surrounding market conditions are crucial in determining when you need to hold your investment and when to reap your gains. Unfortunately, the extreme volatility of meme investments makes it difficult to determine the best time for selling. For instance, meme stocks from the AMC movie theater chain experienced a surge last January due to calls for support in a Reddit board. Though this may seem like positive news, it’s important to note that these stocks can rise just as rapidly as they can plummet. And the extreme volatility makes it difficult to predict when best to sell or hold on to your investments.

They are driven by social media, not by company performance

Social media posts are responsible for the surge of value in meme investments. Through these posts, investors are coordinating and pushing to increase the value of these assets. As an example, social media users united in driving a frenzy for the stocks of video game retailer GameStop earlier this year. While this did cause the meme stock’s value to rise, it has been discovered that thousands of bot accounts played a role in hyping the stock. As an investor, this puts you at a disadvantage because the prices of stocks are typically driven by business performance, not social media hype. The social media posts and the bots may pump up the value of the stocks temporarily. But at the end of the day, the company’s overall performance will determine how long it can hold the market value. So if you’re investing in a company’s stock due to social media, you’re putting yourself at risk by handing your money to a company that may not be able to sustain and grow it.

Meme investments may seem alluring on social media, but they aren’t great long-term investments. Since these assets aren’t properly sustained and regulated, it’s extremely difficult to get good gains from your investment. Instead, look into other investments, like legitimate cryptocurrencies that are higher in value. Though not as humorous as Dogecoin, options like Ethereum are much better as long-term investments. Although, should you decide to invest in these assets, know that there are risks involved. These risks are unlike those of traditional investments. Thus, you should exercise caution when adding them to your portfolio.

For more cryptocurrency news and investment advice, stay tuned to Coinposters. We post regularly about market movements, different types of crypto, and more.

Categories
Blockchain News Press Release Technology

Cere Network: Latest updates, IDO, Launch..

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Cere Network: Latest Updates, Ido, Launch..

What is cere network?

Cere is the solution that relieves businesses of the growing, aching pain in customer data management. Cere is an ethical environment that will help any business develop their own decentralized customer data cloud on top of a blockchain-powered decentralized data network, built from the ground up around privacy, security, interoperability, and an open-source philosophy. Blockchain and distributed ledger technology (DLT) are the key components of Cere’s differentiation and unique value proposition because they provide the technical foundations for Cere’s Decentralized Data Storage (DDS) and peer-to-peer data collaboration environment.

Cere is a Polkadot-inspired, next-gen distributed network that consists of several modular and interconnected layers:

  • The Cere Layer-1: Core Cere and enterprise chains at the foundation.
  • The Cere Layer-2: Substrate Private networks for scalability and interoperability.
  • Distributed Ecosystem: Ecosystem of distributed apps and open data marketplaces built on top.

Cere innovation

Cere is in development since its first round in 2019, investors have been waiting for almost 3 years for a successful launch of the project. Cere has been always focusing on a Decentralized Customer Data Cloud for enterprises and small companies, built on privacy and security. However, with the innovation of technology, they are looking to explore more functionalities to the project itself.

NFT Space for CERE: 

Cere’s Decentralized Data Cloud stage, with its multi-party encoded information sharing innovation, opens the astounding capability of secure resource conveyance where just the NFT holding fans can partake in the full insight of the NFT-upheld content. Cere will give a bleeding edge, blockchain demonstrated innovation answer for genuine world and crypto stages. The NFT commercial center will be straightforwardly coordinated with web-based media, empowering supercharged reception. Our new eminence NFT agreement will be the norm for immediate, certifiable partner income circulation.

Cere Partnerships

Cere is backed by the best, high class venture capitals, perhaps; binance labs, arrington xrp capital, republic labs and more..

Cere Use Cases:

  • Travel: Cere delivers personalized product offerings across 1st to 3rd partners to enrich existing user experiences. The secure sharing of personalization data combined with smart offers and discounts distributed as derivative assets to each user’s own wallet is the key to powering the full automation of this process.
  • Media:  Cere helps media enterprises to improve long term user retention and content engagement by using a plug-and-play gamification module that can enrich the user experience of any app/site. The Cere SDK works in conjunction with each user’s own wallet/ledger to allow the full automation of these normally hard to integrate use cases.
  • Banking: Credit cards rely on perks and rebates, offered by the banks and their partners to drive usage (e.g. earning 1 mile for each $1 spent). Cere brings a new level of data interoperability and secure asset/value exchange to better automate such integrations between banks and partners.
  • Retail: Cere provides a drop-in solution that boosts a brand’s hyper-personalization strategy. With intelligent loyalty and payment solutions, brands can increase their online to in-store conversions.

Where to buy? IDO polkastarter 

IDO Polkastarter is just starting and beggings on Wednesday 18th. There are some requirements if you want to get the last chance to get an IDO price.

Please refer to this link to see how.

Their Social:

Coinposters thoughts about CERE Network: Long Term & Short Term

Cere network is a top project from our point of view, it has all the factors to be one of the most successful projects of 2021-2022.

  • For the short term: we have to watch closely CERE launching their products to the market and how it will succeed, there is a lot of hype on this project which can cause a huge impact on the price.
  • For the long term: is recommended to hold the token, as its potential is bigger and estimated to be more than 100x from IDO price. However, these are just estimations and the price could go way higher or similar to it.
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Bitcoin Guides & Tutorials Price Analysis

How to predict Bitcoin Price ? Long term & Short Term

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How To Predict Bitcoin Price ? Long Term & Short Term

3 Factors of Bitcoin Price over the past years.

1. The News Factor

Over the past years have been demonstrated that bitcoin price is highly impacted by the news of the top enterprises and famous speakers such as Elon Musk ( Tesla CEO ) , Jack ( Twitter Ceo ). But there is also an important note to take in consideration and is that sometimes News are manipulated and can drive the price to go down or up to benefit big institutions. There is two famous sentiment on the crypto market:

FUD: Fear, uncertainty, and doubt is a propaganda tactic used in sales, marketing, public relations, politics, polling and cults. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear.

Bullish Sentiment: hopeful or confident that something or someone will be successful : optimistic about the future of something or someone. : expecting the price of stocks to go up : characterized by rising crypto prices

The bulls have strong faith that Bitcoin will go UP, the bears have a strong faith that bitcoin will go down.

2. Technical Crypto Analysis ( Charts )

Technical analysis involves using real-world data to try to predict the future of the market. It involves looking at past statistics of the cryptocurrencies in question, including factors like volume and movement. Another common method, the fundamental analysis would be evaluating the cryptocurrency’s inherent value.

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Technical Analysis by Coinposters Team 29/07/2021

As you can see on the chart we are based on the supports, if support 1 breaks down, we will go to support 0 which is the support under base levels, which will turn the market into a really bear market. So where do you buy? You should look at the charts, cryptocurrency news, trends, and if everything matches and support 1 rejects, then buy because is more likely to go up again, if support 1 rejects is more likely to go down.

The importance of resistances and supports ” Take Profits on the way up” support 2 would be a important take profit, followed by support 3 as last.

3. Market capitalization / Bitcoin dominance

Every crypto has a total supply in circulation, market capitalization max supply, some of them has unlimited supply ( which you should run of.. )

Total supply in circulation: Is the amount of tokens that are in circulation, you can check on coinmarketcap.com

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Market Cap or market capitalization: is the amount of money that is inside this crypto, this is what is the price based on. To keep it simple if you divide the Circulating supply/Market Cap = Live price on ( USD ) please see the image below.

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Max amount of supply: the maximum supply of a crypto is equal to the maximum number of coins or tokens that will be ever created. This means that once the maximum supply is reached, there won’t be any new coins mined, minted or produced in any other way.

Important tips when buying or selling:

Now that we have all the basic knowledge we will be able to understand and emphasise more with the market.

  • Always buy when the price touch a solid support on the way down.
  • Take on consideration the maximum supply of every crypto to avoid losses, perhaps if a crypto that you buy is 50$ but has 20 million circulating supply. And in 1 year will have 200 million circulation supply is more likely to be way down than this 50$, always consider the price and maximum amount of total supply to avoid potential losses.
  • Not mandatory, but has been proof that holding a coin for more than 3 years has been profitable so far, but as every scenario is different; if you are selling, make sure to sell on targets so you can benefit as much as possible of the bull market.
  • Never give your private keys to anyone, protect yourself. Try to use as much decentralized exchanges as possible, where you are the only responsible of your cryptos.

Next topic:

Categories
Altcoins Blockchain DeFi News Gaming NFT Opinion Price Analysis Technology

Best crypto to invest 2021 | See then best options

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Best Crypto To Invest 2021 | See Then Best Options

We choose the best opportunities that we think have high potential on the long term, but remember that this is not financial advice, and you should invest at your own risk. We aim to be the top reference for cryptocurrency news

Top #3 Axie Infinity

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Axie Game

Axie Infinity is a Pokémon-inspired universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets.


All art assets and Axie genetic data can be easily accessed by 3rd parties, allowing community developers to build their own tools and experiences in the Axie Infinity universe.
While still in early access, Axie is ranked the #1 Ethereum game by daily, weekly, and monthly active users. It has generated over 13,000 ETH in revenue (16M+ USD) so far.


While Axie is a fun game, it’s also taken on characteristics of a social network and jobs platform due to the strong community and play to earn opportunities that have come from its early success.
The key difference between Axie and a traditional game is that Blockchain economic design is used to reward our players for their contributions to the ecosystem. This new model of gaming has been dubbed “play to earn”.

Axie has attracted thousands of players from developing countries in the pursuit of a new income stream during the Covid pandemic. Many of these players are fathers, aunts, and even grandparents who have never used Blockchain technology before!


Players can earn by:

  • Competing in PVP battles to win leaderboard prizes.
  • Breeding Axies and selling them on the marketplace.
  • Collecting and speculating on rare Axies such as Mystics and Origins.
  • Farming for the love potions that are needed to breed Axies. These can be sold on exchanges such as Uniswap and Binance.


Starting in 2021 players can earn a governance token, AXS, which represents a real slice of the game universe as it has governance rights and fee sharing built into it. Since players can earn this token by playing, a Ready Player one type quest emerges where players can actually earn part of the universe. However, these quests are not winner takes all and rewards each player based on their effort and skill.

The most expensive figure was sold for 300 ETH being the record of the website as today.

Top #2 Constellation Network

Constellation

Constellation is a distributed network that enables fast, scalable solutions for organizations who need to process and transfer data securely and build interoperability for connected sensors and devices. As computing moves increasingly to the edge, Constellation provides the only scalable, secure solution for a world with more connectivity, more centralization, and more concentrated risk.

Constellation is an open source platform you can use to create a Blockchain, Cryptocurrency or Decentralized Application.

Best crypto to invest 2021 : Flow Blockchain by ( dapper labs)

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Flow Blockchain

‍Flow is a quick, decentralized, and designer well disposed blockchain, planned as the establishment for another age of games, applications, and the computerized resources that power them. It depends on a special, multi-job engineering, and intended to scale without sharding, taking into account monstrous upgrades in speed and throughput while safeguarding a designer well disposed, ACID-agreeable climate.

Stream engages designers to assemble flourishing crypto-and crypto-empowered organizations. Applications on Flow can keep customers in charge of their own information; make new sorts of computerized resources tradable on open business sectors available from anyplace on the planet; and fabricate open economies possessed by the clients that assist with making them important.

The massive success of their blockchain including, crypto kitties, nba top shot, genies.. and gaming products such as Chainmosters or Enemy Metal, makes flow the best crypto to invest 2021, out there as there are over 400 project being developed on the background right now to launch into the market. Makes Flow the best option for the future with huge potential on Gaming, NFTs and Dapps.

 

Important TIP while investing: 

A good strategy to buy a cryptocurrency is doing it by boxes. Lets say you have 1000$, then 100$ would be 1 BOX, when it touches the first support you start buying using 1 box, the more down it goes, you buy another box, and like that until you find a support and price goes up, then your return is higher. Doing that you will have an average price and avoid having losses.

Categories
Bitcoin Blockchain Business People Press Release Regulation Technology

Amazon ‘certainly’ arranging Bitcoin usability and token, affirms insider

Bitcoin-amazon
Amazon ‘certainly’ Arranging Bitcoin Usability And Token, Affirms Insider

Amazon involved on digital currency

Amazon is hoping to acknowledge Bitcoin usability’before the year’s over’, and is exploring its own token for 2022, says an insider.

The web behemoth set the rumor mills in motion throughout the end of the week subsequent to distributing a task notice for a digital money and blockchain lead.

The opportunity, obviously a sign the organization is setting out a pathway towards cryptographic money exchanges, calls for somebody who can “influence space mastery in blockchain, dispersed record, national bank advanced monetary standards and digital currency”.

Real word usage; Bitcoin is the crypto against inflation.

It adds that it needs to “foster the case for the abilities which ought to be created, drive by and large vision and item technique, and gain administration purchase in and speculation for new capacities.”

It doesn’t take a virtuoso outwardly to reason where Amazon may be going with enlistment in any case, as per an insider, the plans run a lot further than just welcoming somebody on board to inspect conceivable outcomes.

“This isn’t simply making a cursory effort to set up cryptographic money installment arrangements sooner or later – this is an all out, all around examined, vital piece of things to come instrument of how Amazon will function,” she revealed to City AM.

“It starts with Bitcoin – this is the key first phase of this crypto project, and the mandate is coming from the exceptionally top… Jeff Bezos himself.”

Amazon exploring for more cryptocurrencies.

The insider additionally clarified that heads of the world’s fourth biggest organization were quick to move towards ticking off other large cryptographic forms of money whenever it had set up a quick and secure technique for Bitcoin installment.

“Ethereum, Cardano and Bitcoin Cash will be next in line before they achieve eight of the most famous cryptographic forms of money on the web,” she added.

“It will not take long in light of the fact that the plans are now there, and they have been chipping away at them since 2019.

Bitcoin prices up 13% since the latest news of amazon. Did they buy?

“This whole undertaking is essentially good to go.”

All things considered, the inclusion of a huge player on the size of Amazon in the cryptographic money space would propel appropriation and cost of Bitcoin and the bigger alt coins, yet it is Bezos’ next arrangement which could cause significantly more prominent interest.

“At the point when every one of these crypto ducks are arranged, there’s another curve to push things significantly further into Amazon’s approval – a local token,” the insider clarified.

“Following a time of encountering digital money as a method of making installments for products, it is looking progressively conceivable that we’re going towards tokenisation.

“This then, at that point turns into a staggered framework where you can pay for labor and products or procure tokens in a dependability plot.

“There’s little more to it, until further notice, however you can ensure the Bitcoin plan will be observed intently as promising circumstances with Amazon’s own adaptation of a crypto will be investigated.”

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Bitcoin Interview Opinion People

Cathie Wood, Jack Dorsey and Elon Musk Bitcoin live today at 12 pm EDT

Thetalk
Cathie Wood, Jack Dorsey And Elon Musk Bitcoin Live Today At 12 Pm Edt

The group of: Tesla CEO Elon Musk, Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood will be featured speakers at the Bitcoin event “The B Word”

With the main concern of Elon Musk regarding Bitcoin was that it won’t be sustainable for tesla as far as it consumes more than 80% of fossil oils , Bitcoin has attracted the attention of cryptocurrency investors, climate campaigners, and energy experts alike. The currency has been reported to use an awful lot of energy; it currently consumes around 110TW hours per year, placing it at 0.55% of global electricity production or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden.

The basics of bitcoin mining and energy consumption

With the success and evident interest in bitcoin worldwide and its mining has come plenty of research related to the amount of energy it will consume in a few years’ time, provided the trend rises steadily. The idea of this event is try to convince the crypto community and Elon that Bitcoin can be used 100% with renewable energy   .

Michael Saylor : Gray scale CEO #Bitcoin recycles .25% of the world’s wasted energy to create prosperity & freedom.

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The B World

  • Looking to the event website, “The ₿ Word is a Bitcoin-focused initiative that aims to demystify and destigmatize mainstream narratives about Bitcoin, explain how institutions can embrace it, and raise awareness around areas of the network that need support.”
  • You can register at the event for free here: The B World

 

Jack:  Twitter CEO

Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permission-less, and decentralized financial services. Our primary focus is #Bitcoin.

Twitter

Like the new #Bitcoin hardware wallet of Square, we’re going to do this completely in the open. Open roadmap, open development, and open source. @square is leading and building this team, and we have some ideas around the initial platform primitives we want to build.

Shared opinions

Both Dorsey and Musk’s respective opinions on Bitcoin are somewhat at odds. Where Dorsey has been unapologetic about his enthusiasm for Bitcoin, Musk has expressed concerns about the blockchain’s outsize energy consumption. Tesla announced it would start accepting Bitcoin for purchases in February, but reneged in May. “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” wrote Musk at the time.

Other Participants

Other featured & important speakers at the B Word conference include Blockstream CEO Adam Back, ARK Invest CEO Cathie Wood, and Nic Carter, a Bitcoin influencer, all of whom are about as bullish on Bitcoin as Dorsey.

Categories
Gaming News NFT

Flow Blockchain: The next Gaming Generation

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Flow Blockchain: The Next Gaming Generation

What is Flow ?

‍Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. It is based on a unique, multi-role architecture, and designed to scale without sharding, allowing for massive improvements in speed and throughput while preserving a developer-friendly, ACID-compliant environment.

Over 400 projects are being developed on Flow Blockchain

With the massive success of NBA Top Shot , Flow gained a spot on the Top 100 on the first year of their launch, CoinMarkeCap currently top #77, with many projects behind such as Viv3 ( Nft Marketplace ) , Chainmosters ( A new and exhilarating cross-platform multiplayer online game where you catch, battle, trade and compete with digital monsters in a massive multiplayer open world experience. ) UFC digital collectibles ( Soon they are launching, register on the link to get early access to their new collectables ) Check the latest news on their Flow website with all the apps, games that are currently being develop on their chain.

Their partners & Community

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Partners

Flow was designed from the ground up as a foundation for internet-scale protocols and applications that also require exceptional user experience. The best part of it is that is including massive support from their community, and at the same time, real world usability.

Flow blockchain: How it works ?

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Unique among crypto networks, Flow achieves dramatic improvements in speed and throughput by separating the jobs of a cryptocurrency miner or validator into four different roles, each with their own characteristics.

This means anyone with a reliable internet connection should be able to participate as a validator for Flow, at a variety of computational and financial tiers.

Validators join Flow in one of four roles:

  • Collector Nodes increase efficiency
  • Execution Nodes enable speed and scale
  • Verifier Nodes guarantee correctness
  • Consensus Nodes ensure decentralization

Source: Onflow.org

What can I build on Flow?

Flow is designed for high-throughput, low-latency consumer applications, games, and digital assets. Protocol-level usability and onboarding features make it easy to bring new users while a new decentralized architecture ensures security at scale.

Where can I buy Flow?

Huobi: is a Seychelles-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, South Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company.

Coinlist: is where you get access to the best new tokens before they list on other exchanges. Coinlist lending program up to 10% staking per year on FLOW!

Categories
Bitcoin Blockchain Interview News Price Analysis Technology

Bitcoin price returns to ‘critical’ pivot zone as $33K stays untouched.

Btc-analysis
Bitcoin Price Forecast For July

Bulls are having problems reclaiming lost support levels, but $30,000 remains a solid foundation in Bitcoin’s trading range.

A sharp rebound overnight propelled the pair to highs of $32,970 after briefly reaching $31,750 overnight. The $33,000, which had previously been a sure source of support, was now out of reach.

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BTC/USD 1 hour chart of candle

Bitcoin price: It is reasonable and starts at less than USD 33,000.

Bitcoin/USD traded in a range on Wednesday, according to data from Bitcoin Markets Pro and Trading View. However, volatility increased slightly.

A sharp rebound overnight propelled the pair to highs of $32,970 after briefly reaching $31,750 overnight. The $33,000, which had previously been a sure source of support, was now out of reach.

According to well-known trader Michael van de Poppe, Bitcoin needed to break out of this zone between $32,600 and $38,000 to have a chance of reaching high-level targets in its trading range.

“Many alternative cryptocurrencies are conducting double bottom tests. This is fantastic, thank you! ,”According to his most recent Twitter update, he also said

With repeated attempts to break the $33,000 barrier, Bitcoin was trading around $32,800 at writing. With support holding firm at $30,000, buy and sell levels on Binance showed a resistance band at $33,000, which was gradually dissipating.

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Buy and sell levels for bitcoin/dollar (Bi-nance) as of July 14, 2018. material indicators/Twitter (references)

Powerful hands quietly scoop up large amounts of liquidity

A much-publicized “Bitcoin bill” would have be presented to the government of Paraguay on this day, and expectations were high among the public. As of now, there is little information about the legislation; however, some believe the country will seek to emulate the example set by El Salvador and make Bitcoin legal tender.

There was little else for bulls to leverage when writing, aside from network fundamentals, with accumulation by investors of all sizes still to manifest itself in price movement.

Referred to as Excellent purchase Currently, Bitcoin is trading at a record low of 59 per cent below the target price of the BTC stock-to-flow model.

After conducting new research, William Clemente hypothesized that there might be a “lag” in the response of prices.

“Alternately, put: A lag between prices and accumulation flows can occur from time to time. If we had a bull dive in January or September 2020, it would be about half the size of the one we had in January or September 2019 “His remarks were made through social media commen.

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Bitcoin liquid supply ratio annotated chart. Source: William Clemente/ Twitter

We had one in March 2020, but macro forces can override this,” says the author.

Clemente displayed a chart of Bitcoin’s liquid supply ratio (LSR), a metric that is now signalling the movement of BTC to those who have had little experience selling the cryptocurrency.

Referring to the halving of block subsidies that took place last year. “Nothing has changed, supply shock is still in play,” he said of the supply shock.

Bitcoin liquid supply ratio annotated chart. Source: William Clemente/ Twitter.

“It is showed by LSR that the action of Bitcoins being reabsorbed by powerful hands only continues to diverge more from the price of Bitcoin. Also down -21,829 BTC on exchanges in the last two weeks, with a clear accumulation trend in those flows as well.”

Trading in cryptocurrency occurs in other markets as well.

According to the Investing.com Index Ethereum was the last trading at $2,124.66, a 14.54 percent decrease over the day.

On the Investing.com Index Bi-nance Coin was trading at $478.50, representing a loss of 10.36 per cent compared to the previous trading day.

Ethereum’s market capitalization was $253.4 billion at the time of writing, accounting for 12.02 per cent of the total cryptocurrency market capitalization, while Binance Coin’s market capitalization was $75.4 billion, accounting for 3.58 per cent of the total cryptocurrency market capitalization at the time of writing.

What are bitcoin prices and bitcoin?

Bitcoin is the world’s first decentralized cryptocurrency – a type of digital asset that uses public-key cryptography to record, sign, and send transactions over the Blockchain network – and it is also the most valuable cryptocurrency in the world.

The Bitcoin network (with an uppercase “B”), which was founded on January 3, 2009, by an anonymized computer programmer (or group of programmers) using the pseudonym “Satoshi Nakamoto,” is a peer-to-peer electronic payment system that makes use of a native cryptocurrency called bitcoin (lower case “b”) to transfer value over the internet or act as a store of value, similar to gold and silver. Bitcoin is a digital asset that can make payments and store.

Because each bitcoin comprises 100,000,000 Satoshi (the smallest unit of Bitcoin), each bitcoin is divisible by up to eight decimal places. This enables consumers to purchase fragments of a bitcoin for as little as one Usd per unit of bitcoin.

At $30,000, Bitcoin (BTC) is experiencing a “reset” in investor behaviour, and if the trend continues, the price of the cryptocurrency will rise.

According to econometric, if holders continue to accumulate bitcoins and dollars, the only way to go for the cryptocurrency is “up,” according to econometric, an on-chain monitoring resource on Tuesday.

“Interesting” data points to a resurgence in demand.

Econometric discovered that a significant shift has occurred in buying coins ever since the start of the latest bull market in October 2020 compared to the previous year.

Smaller investors, also known as “small fish,” were the ones who were accumulating wealth at the outset. Initially, this occurred when Bitcoin surpassed its previous all-time high of $20,000, and it has continued up to the new all-time high of $6

“According to Econometrics, $30k is a critical level that has halted the trend of a coin accumulation by whales,” the company stated.

One possible explanation for why selling pressure eventually took hold is that whales believed Bitcoin was gaining “too much, too soon,” and that the market, as a result, had become unsustainable.

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Bitcoin Blockchain Price Analysis

Bitcoin price forecast for July

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Bitcoin Price Forecast For July

Bitcoin (BTC) has seen almost two months of rangebound price moves after hitting $30,000 — and new data hints why.

Market and Bitcoin has once again walked through a minor crisis on the price approaching $30k. That level has the potential to trigger an even broader sell-off in the cryptocurrency market. The quick rebound suggests that the bulls are willing and able to defend the critical round level.

Btc-analysis
Bitcoin analysis

Bullish forecast if it breaks level

While bitcoin is trading around 31.000$ and fighting to break up the last resistance to go back to 40.000$ area if the bulls keep pushing and break the last support we will see the possibility to turn off the market and get into bullish signal again.

Bear forecast if it breaks level

If bitcoin passes 28000$ we will turn into a really fear market with possibilities of dropping below it. The bears were pushing for the past weeks and closing their positions for the bull pressure. This is a huge battle where we will see a clear forecast on the end of July where people get into holidays.

Amid the unease, some voices caution that it is only a desire to interpret events to push one’s own narrative, bullish or bearish, which is at play.

Bitcoin itself, meanwhile, is not as weak as price suggests, as fundamentals confirm.

“Regardless on your risk appetite, strategizing now is key, so as not to miss the next wave in this current Bitcoin supercycle,” Stack Funds concluded in its latest report released Thursday.

Commisioner about BTC

“Important Commissioners are discussing about the regulation of the markets a matter of fact, under the OCC last year, we approved that banks could custodian it, in fact it would create more opportunities for new institutional investors and the reason we did that is because we wanted to make sure that this was becoming in the regulated world.”

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