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Topics - G.Belaci

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1
Crypto Discussion / $625,000 Bounty on cracking the Monero coin
« on: September 15, 2020, 09:08:55 AM »
The IRS will be accepting application until the 16th of September. Anyone taking the challenge will receive the bounty in two phases. An initial payment of $500,000 for developing and providing proof with a working concept of the privacy crack tool. And another $125,000 upon completing the pilot test and receiving approval from the agency.

Who want to try?

IRS Cracks Down On Privacy Coin Monero, Offer’s $625,000 Bounty to Anyone Who Can Crack the Code

2
Found this article which says that Millennial generation investors prefer Bitcoin over Gold:

Article

I wonder if anyone is holding Gold?

3
Crypto Discussion / The end of Bitthumb?
« on: September 09, 2020, 11:45:47 AM »
Found this article about Bithumb: https://www.worldcoinindex.com/news/bithumb-in-trouble-south-korean-police-raids-exchange-for-second-time-in-one-week

Anyone using Bithumb and what are your actions once you know Bithumb is in the news about fraud?

4
Over the last hour or two on Thursday, September 4, BTC has plunged more than $500 on the charts slipping below its crucial support of $11,000 and hitting a new low over the last one month.

At press time, BTC has crashed more than 4.62% and is currently trading at $10,874 with a market cap of just over $200 billion, as per the data on WorldCoinIndex. Blockchain intelligence firm Chainalysis has reported that cryptocurrency exchanges have been witnessing a sudden surge in inflows of Bitcoin. Well, this was an indicator that investors were preparing to liquidate some of their holdings.

Tweeting about the same Chainalysis chief economist Philip Gradwell wrote: “Bitcoin inflows to exchanges were 92k yesterday, highest in 37 days, as people rushed to sell at near $12k prices of 1 September. That sell pressure has likely not been fully worked through yet”.

Long term holders still continue to remain unstirred while holding their positions in Bitcoin. Over the last few weeks, several reports circulating in the market suggest that nearly 60% of the total BTC supply hasn’t moved in a year.

Similarly, data from blockchain intelligence firm Chainalysis show that out of the 21 million BTC, only 3.5 million were in active circulation over the last few years.

Founders of crypto exchange Gemini - Tyler and Cameron Winklevoss - have recently predicted that Bitcoin’s long-term value shall be equal to $500,000. The Winklevoss twins are bullish on Bitcoin’s long-term prospects suggesting the Bitcoin will overtake gold as a leading safe-asset haven for global market investors.

They said that Bitcoin’s ability to be quickly transferred will make it a more valuable asset as a store of value in comparison to gold and oil.

On the other hand, a growing number of financial institutions are warming up to the world’s largest cryptocurrency. Recently, Fidelity Investments submitted a fresh filing to the U.S. SEC for the launch of its new Bitcoin Index Fund in the market. As per reports, this will be a “passively-managed, bitcoin-only fund available to qualified investors”.

Speaking about it, Fidelity wrote: “Fidelity has made a long-term commitment to the future of blockchain technology and to making digitally-native assets, such as Bitcoin, more accessible to investors.”

6
Trading / Winners
« on: September 01, 2020, 12:59:30 PM »
In the list of gainers there is a interesting coin named Sushi. Yesterday Sushi gain +109% and today +72%. Who is also interested in these coins?



Source: WorldCoinIndex

7
The Winklevoss twins and founders of Gemini crypto exchange - Tyler and Cameron Winklevoss - made a bullish prediction for Bitcoin stating that its long-term price value stands at $500,000.

In a blog post written last Thursday, August 27, the twins brothers said that inflation is on the cards as the Federal Reserve continues to pump more liquidity in the ecosystem. Historically, gold and oil have served as reliable store of value for investors seeking a safety net.

This year, Gold price has already surged more than 35% crossing over $2000. As per analyst expectations, Gold price can surged further 50% and go up to $3000 in the next year.

However, Tyler Winklevoss thinks that the yellow metal prices have been pushed beyond the demand of its actual consumption. The Winklevoss twins not think that Bitcoin is very-much capable of overtaking gold as the leading safe-haven asset for the global markets.

Now, with the market cap of gold being above $9 trillion, and considering Bitcoin currently at $200 million, it means that BTC price will surge 45-fold i.e. around half-a-million.

The Winklevoss twins argue the fact that Gold and oil are always difficult to transfer, and more importantly, they don’t have a fixed supply. Thus, if the large supply of both these assets get discovered, their value might decrease with time.

The Winklevoss twins explained: “Currently, gold is a reliable store of value and the classic inflation hedge. Supply. The supply of gold is actually unknown. While gold remains scarce or ‘precious’ on planet Earth, the same cannot be said with respect to our galaxy.”

Hinting that Bitcoin remains as the best for rising inflation, the twins wrote that Bitcoin will outperform everything - gold, real estate, and stocks. “Inflation is coming. Money stored in a bank will get run over. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or bitcoin will outrun the scourge. And money stored in bitcoin will run the fastest, overtaking gold,” they said.

The Winklevoss twins wrote that Bitcoin is easy to be moved, has limited and fixed supply, and thus with more demand it would always remain scarce.

The Winklevoss twins are not the first ones to give this massive target for Bitcoin. Earlier, a few analysts also predicted $1 million for BTC price in the long-term. Well, currently the immediate goal for Bitcoin investors is attaining its previous all-time high of $20,000.

Source: https://www.worldcoinindex.com/news/gemini-founders-winklevoss-twins-predict-btc-long-term-value-at-500-000

8
The Chinese central bank - the People’s Bank of China (PBoC) - is making new partnerships with local companies to test its central bank digital currency, Digital Yuan.

Two weeks back, the Chinese central bank partnered with ride-hailing giant Didi to test the use of the Digital Yuan across Didi’s massive customer base. Taking it even further, the central bank has now partnered with 20 other local companies in an aggressive push for its Digital Yuan use.

For the testing of Digital Yuan, the PBoC has roped-in some of the state-owned Chinese banks as well as some of the giant telecom players like China Mobile, China Telecom, China Unicom, and Huawei.

As per the reports, all the participating banks have converted part of their deposits into digital currencies and is looking for sectors to push the use of Digital Yuan. Besides, the banks have also developed and tested all the wallet platforms required to store the digital currency.

For the initial real-world testing, the PBoC decided to pay the salaries of the state-employees in four cities - Chengdu, Shenzhen, Suzhou, and Xiong’an - in Digital Yuan.

A major aggressive push was when the PBoC partnered with Didi to test its Digital Currency Electronic Payment (DCEP). Didi Chuxing has over 550 million users across 440 cities that provides a sizeable sample to test the Digital Yuan.

PBoC’s another major partnership is with the Tencent-backed food delivery startup Meituan Dianping to test and trial the digital currency.

For the deployment process of the entire project, the PBoC has also collaborated with local tech giants like AliPay and WeChat. Both these companies have a strong footprint in the FinTech and the digital payments sector.

Additionally, PBoC is said to be in talks with some of the country’s biggest retail chains like Subway, McDonald’s, Starbucks, however, the details are not yet public. Additionally, PBoC is working out a partnership with video streaming app Bilibili which has a user-base of more than 170 million users.

Although China has been an early participant in the CBDC development, other big economies are taking similar route. UK’s Bank of England is working to test the introduction of CBDC in the country’s financial system. BoE governor Andrew Bailey said that in a few years “we will be heading toward some sort of digital currency”.

On the other hand, the U.S. is also warming up to the idea of digital currencies. Last week, the U.S. Regulator gave a green for national banks to provide cryptocurrency custodial services in the market. The lawmakers are also actively considering the prospects of having a Digital Dollar going ahead.

Source: https://www.worldcoinindex.com/news/20-more-chinese-firms-collaborate-with-the-chinese-central-bank-to-launch-digital-yuan

9
The overall cryptocurrency market is surging northwards as Bitcoin and a majority of the altcoins are trading in green today. The world’s strongest cryptocurrency is showing strength at this stage jumping by more than 5% in the last 24 hours.

At press time, BTC is trading at $10,310 levels with a market cap of $190 billion. As per the WorldCoinIndex data, the 24-hour daily trading volumes have also crossed $7 billion at the time of writing this article.

This is for the third time in 2020 that Bitcoin has managed to cross the $10,000 mark. However, every time it did so, the BTC price has seen a major pullback from those levels going back close to $9,000 levels.

If we see the last week’s chart, Bitcoin has surged over 12% in the last one week to move above $10,000. However, the world’s largest cryptocurrency is seeing a major resistance of $10,500 and it has failed twice in 2020 to breach it.

If Bitcoin manages to breach it this time, we can see it setting up a new support here and start a bull run from there onwards. While Bitcoin has been said to be a ‘digital gold’ and a safe-haven against the stock markets, it hasn’t turned out that way.

In fact, the BTC price has been moving in line with the stock markets for this year. During the stock market crash of March 2020, the Bitcoin price crashed below $5000 levels, a whopping 50% fall from its mid-February high of over $10,000.

Bitcoin has managed to recover its losses since then. At the present levels, Bitcoin is trading at nearly 40% premium year-to-date.

On the other hand, the world’s second-largest cryptocurrency and Bitcoin competitor Ethereum (ETH) has also managed to show strength over the last week. In the last week, Ethereum (ETH) price surged more than 25% to cross above its crucial milestone of $300 over the weekend.

At press time, ETH price has surged 4.82% in the last 24 hours and is trading at $326 with a market cap of $36.15 billion. The sudden surge in the ETH price after the network’s daily transaction volumes reached its all-time-high last week.

The latest price surge amidst a significant surge in the DeFi activity on the Ethereum blockchain. Decentralized Finance (DeFI) contribute to a majority of the daily trading volumes on the platform as on date.

Ethereum developers have accelerated their work for the ETH 2.0 release which provides massive scalability boost over the existing network. While the existing Ethereum network can process only 15 transactions per second, the ETH 2.0 will hold the capacity to process 1000s of transactions per second.

The Ethereum 2.0 testnet launch is expected to happen next week on August 4.

Source: https://www.worldcoinindex.com/news/crypto-investors-rejoice-as-bitcoin-price-surges-above-10-000-and-ethereum-above-300

10
The overall cryptocurrency market is surging northwards as Bitcoin and a majority of the altcoins are trading in green today. The world’s strongest cryptocurrency is showing strength at this stage jumping by more than 5% in the last 24 hours.

At press time, BTC is trading at $10,310 levels with a market cap of $190 billion. As per the WorldCoinIndex data, the 24-hour daily trading volumes have also crossed $7 billion at the time of writing this article.

This is for the third time in 2020 that Bitcoin has managed to cross the $10,000 mark. However, every time it did so, the BTC price has seen a major pullback from those levels going back close to $9,000 levels.

If we see the last week’s chart, Bitcoin has surged over 12% in the last one week to move above $10,000. However, the world’s largest cryptocurrency is seeing a major resistance of $10,500 and it has failed twice in 2020 to breach it.

If Bitcoin manages to breach it this time, we can see it setting up a new support here and start a bull run from there onwards. While Bitcoin has been said to be a ‘digital gold’ and a safe-haven against the stock markets, it hasn’t turned out that way.

In fact, the BTC price has been moving in line with the stock markets for this year. During the stock market crash of March 2020, the Bitcoin price crashed below $5000 levels, a whopping 50% fall from its mid-February high of over $10,000.

Bitcoin has managed to recover its losses since then. At the present levels, Bitcoin is trading at nearly 40% premium year-to-date.

On the other hand, the world’s second-largest cryptocurrency and Bitcoin competitor Ethereum (ETH) has also managed to show strength over the last week. In the last week, Ethereum (ETH) price surged more than 25% to cross above its crucial milestone of $300 over the weekend.

At press time, ETH price has surged 4.82% in the last 24 hours and is trading at $326 with a market cap of $36.15 billion. The sudden surge in the ETH price after the network’s daily transaction volumes reached its all-time-high last week.

The latest price surge amidst a significant surge in the DeFi activity on the Ethereum blockchain. Decentralized Finance (DeFI) contribute to a majority of the daily trading volumes on the platform as on date.

Ethereum developers have accelerated their work for the ETH 2.0 release which provides massive scalability boost over the existing network. While the existing Ethereum network can process only 15 transactions per second, the ETH 2.0 will hold the capacity to process 1000s of transactions per second.

The Ethereum 2.0 testnet launch is expected to happen next week on August 4.

Source: https://www.worldcoinindex.com/news/crypto-investors-rejoice-as-bitcoin-price-surges-above-10-000-and-ethereum-above-300

11
On Wednesday, July 22, Russian lawmakers passed a bill that gives legal status to cryptocurrencies like Bitcoin. After its third and final hearing, the legislators approved the the Digital Financial Assets (DFA) bill.

The bill also received major backing from Anatoly Aksakov, a senior lawmaker who currently heads Russian parliament’s financial markets committee.

Citing the actual report, local news publication Tass reported that the law recognizes digital assets “as an aggregate of electronic data capable of being accepted as the payment means… [but] cannot be used at the same time to pay for any goods and services”.

The new law gives Russian a legal approval to buy and hold Bitcoin and other cryptocurrencies for investment purpose. However, the law comes with a caveat that “Possession of digital currency, its acquisition and transfer by legal means are allowed only if declared”.

It further adds that digital currencies “can be issued, purchased and sold and registered within the framework of special information systems” and “systems and their operators shall conform to Russian laws and stand filed in a relevant register kept by the Bank of Russia.”

It means that the Russian central bank has an important role to play in the regulation of digital currencies. “The central bank will have the right to determine features of digital assets accessible by qualified investors only,” reported Tass.

Another limitation with the new crypto law is that Russians cannot use Digital currencies for making daily payments of goods and services. Thus, it clearly bans them from having an existence in Russia’s mainstream financial markets.

Russian lawmaker Mikhail Uspensky said that the law will come into force in January 2021. “The only thing outright prohibited is taking crypto as payment for goods and services, which was the Bank of Russia’s principal premise. But buying a cup of coffee for bitcoin is still a kind of exotic thing anyway,” he added.

He also noted that the current bill draft is a midway between the conservative central bank and the cryptocurrency community. “They decided only to mention cryptocurrency in the bill so far and prohibit using it as a payment, but postpone deciding on more important issues, like the criminal cases [related to crypto], crypto OTC businesses, and so on,” he said.

Source: https://www.worldcoinindex.com/news/russian-lawmakers-pass-bill-to-treat-cryptocurrency-as-property-but-bans-them-for-payment-of-goods-and-services

12
Crypto Discussion / Winners of today
« on: July 17, 2020, 10:34:03 AM »
This list I found on WorldCoinIndex shows no top coins.


13
Central banking institutions across the globe have been accelerating their developments for central bank-backed digital currencies (CBDCs). Over the last month, we have already heard some big economies likes Canada, Japan, and China working on their own CBDCs.

The latest industry report suggests that Great Britain is also on its way to test the prospects of introducing a digital currency backed by its central bank - Bank of England. As per the report from Bloomberg, BoE governor Andrew Bailey said that in a few years “we will be heading toward some sort of digital currency”.

Speaking to the students during a webinar, Bailey was quoted saying: “We are looking at the question of, should we create a Bank of England digital currency. We’ll go on looking at it, as it does have huge implications on the nature of payments and society”.

BoE previous governor Mark Carney was quite positive and optimistic about digital currency developments and always insisted other central banks to think progressively about it. Carney also said that a major shift in the global monetary policies can also see central banks further expand their interest in CBDCs.

Although the BoE currently issues electronic money, it is available only for banks and certain financial institutions. The central bank also added that the CBDC will be denominated in Pound Sterling, just like the bank notes. So a 10-pound CBDC will be same as a 10-pound note.

As per the Bank of England, “A Central Bank Digital Currency would make electronic money, issued by the Bank of England, available to all households and businesses. This would allow everyone to make electronic payments in central bank money”.

The central bank further added: “CBDC is sometimes thought of as equivalent to a digital banknote, although in some respects it may have as much in common with a bank deposit. Any CBDC would be introduced alongside – rather than replacing – cash and bank deposits.”

The bank has however admitted to it that there are currently some challenges and they would need to manage it carefully. Hence it is doing some active research in this space and attracting expertise from around the globe.

Furthermore, BoE’s Financial Policy Committee has announced that the existing regulatory framework needs to be tweaked to accommodate such new innovations in the payments sector.

Speaking on it governor Bailey said: “If the UK decides to develop a CBDC, it could provide the British pound with some advantage over major rival currencies like the US dollar and the euro”.

Source: https://www.worldcoinindex.com/news/bank-of-england-reportedly-working-on-its-central-bank-digital-currency

14
In one of the biggest hacks in the history of Twitter, hackers on Wednesday managed to get access to some high-profile Twitter accounts which include some of the famous business personalities, corporate accounts, and accounts of other politicians.

Official accounts of Elon Musk, Jeff Bezos, Bill Gates, Barack Obama, Warren Buffett were completely compromised. The hackers asked millions of followers to send Bitcoins to a specific Bitcoin wallet address. It was the good old Ponzi scheme of sending back double the amount as part of a community giveaway and contribution.

Not only individual accounts, but corporate accounts of companies like Apple, Uber, Coinbase and other crypto exchanges were also at the receiving end.

Twitter quickly took cognizance of this matter and initiated an investigation. The company said that hackers targeted twitter employees in order to get complete access to the company’s tools and systems.

This turns out to be one of the biggest data breaches and data compromise in the history of tech industry. The official support handle of Twitter reported: “We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools. We know they used this access to take control of many highly-visible (including verified) accounts and Tweet on their behalf.”

Speaking about this unfortunate incident, Twitter CEO Jack Dorsey said: “Tough day for us at Twitter. We all feel terrible this happened. We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened”.

Theresa Payton, a former White House chief information officer said that she expects Twitter to provide complete details of the event about why and how these accounts were compromised. She also warned that direct messages from all these accounts would have been stolen and released in the future for malicious use.

Speaking to CNBC, Payton said: “They’re going to need to apologize to the VIPs and to the individuals who were defrauded and fell for the scam. The next thing they’re going to need to do is to conduct a thorough and transparent investigation, and they’re going to need to share what they can about who the attackers were and how they pulled this off.”

Gemini's CEO, Tyler Winklevoss, said that the accounts have also tweeted about a scam partnership with a group dubbed CryptoForHealth. The hacked tweets also encourage other crypto groups that celebrities are donating Bitcoin to the community healthcare partners.

Winklevoss told his followers: "DO NOT CLICK THE LINK! These tweets are SCAMS.”

Most of the social media platforms including Twitter has long-back banned any cryptocurrency promotions from their platforms. Incidents like these continue to bring a bad image to the entire crypto industry.

Source: https://www.worldcoinindex.com/news/twitter-hackers-seek-bitcoin-donations-by-hacking-accounts-of-famous-personalities-businesses-and-politicians

15
While all the market attention has been in and around Bitcoin, investors need to look at some better and alternate options. The crypto market is currently buzzing with some once lesser-known altcoins.

Oracle service provider Chainlink (LINK) has been one of the top performing cryptocurrencies for 2020. Chainlink continues its massive rally in the crypto market surging more than 250% since the beginning of 2020.

Chainlink is one blockchain network that helps to solve one of the most pressing issues of the blockchain industry. The Chainlink oracles help to connect Ethereum-based smart contracts with off-chain data thereby establishing a bridge between off chain platforms and the blockchain network.

This has turned out as the most vital application as several businesses running decentralized applications like DeFi can have access to off-chain data and automate the entire process on a blockchain platform. With the recent surge in DeFi, the demand for Chainlink has been on a rise.

Two weeks back, Chainlink also entered a collaboration with China’s Blockchain Services Network (BSN) to help them with easy data transfer. Besides, Chainlink is making some important partnerships with other businesses and helping them with oracles services.

At press time, Chainlink (LINK) is trading at $7.32 with a market cap of $2.56 billion. Chainlink has climbed up the ranks to grab a spot in the fifteen most-valuable cryptocurrencies by market cap. Chainlink is witnessing a major surge in its daily trading volumes which has reached over $800 million.

Another smart contract token Tezos (XTZ) has surged very fast in 2020 and is currently witnessing high daily trading volumes. Since the beginning of 2020, Tezos has surged over 90% and is currently trading at a price of $2.95 with a market cap of $1.95 billion. If Tezos manages to cross its major resistance of $3, it will further continue to surge from these levels.

VeChain (VET) - a blockchain-powered services that focuses on providing institutions with supply chain organization, financial services and smart contracts - is now in limelight. Many analysts call VeChain as one of the most-innovative blockchain networks in the market.

Recent industry reports suggest that VeChain might enter into a partnership with Ripple very soon. While it’s not confirmed yet, VeChain is seeing a good jump in its daily trading volumes.

At press time, VeChain (VET) is trading at a price of $0.017 with a market cap of $997 million and daily trading volumes at $1.36 million.

Source: WorldCoinIndex

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