Day: October 18, 2019

Bitcoin, Gold Dives in Tandem as China Posts Poor Economic Data

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Perceived safe-haven assets Bitcoin and Gold were trending downwards on Friday as investors processed the emotional aftermath of China’s weak economic data. Bitcoin extends bearish bias after breaking crucial support of $8,000 | Image credits: TradingView.com The BTC/USD instrument slipped by 1.96 percent, or $158.23, on San Francisco-based Coinbase exchange to trade at $7,917.97. The downside pressure mounted shortly after the Shanghai market open, leading to a circa $308 drop right ahead of the close. The move downhill reflected a similar price action in China’s CSI 300 of Shanghai- and…

ACINQ Unveils Its ‘2nd Generation’ Bitcoin Lightning Network Wallet

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French Bitcoin (BTC) Lightning Network (LN) implementation developer ACINQ introduced its second-generation Lightning Network wallet, Phoenix, via Twitter, on Oct. 18. A video accompanying the post demonstrates a number of wallet functions, all accessed via a user-friendly interface. From setup to receiving and making payments in under a minute From a fresh install of the wallet app on an Android device, setting up a new wallet is a single click away. Although the new wallet has no open channels, it can still produce an LN invoice and receive funds. On…

Fake Tor Browser Steals Bitcoin From Darknet Users, Warns ESET

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Major antivirus software supplier ESET has discovered a trojanized Tor Browser designed to steal Bitcoin (BTC) from buyers in the darknet. Fake browser distributed via 2 websites Targeting users in Russia, the fake Tor Browser was distributed via two websites and has been stealing crypto from darknet shoppers by swapping the original crypto addresses since 2017, ESET’s editorial division WeLiveSecurity reported Oct. 18. Created back in 2014, the two fake Tor Browser websites — tor-browser[.]org and torproect[.]org — are mimicking the real website of the anonymous browser, torproject.org.  According to…

Raiffeisen Among 18 Banks in First Global Tokenized Collateral Trial

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Twenty-eight organizations including Raiffeisen and 17 other banks have participated in the successful completion of the Ivno Global Tokenized Collateral Trial. This is the first global token trial on the R3 Corda platform, hosted on Microsoft Azure, as reported on Oct. 17. Efficiencies in tokenized collateral The trial, conducted by London-based Ivno, saw the participating organizations create $18 billion of Trial Tokens, and transfer them through the Ivno network. This was a live demonstration of how mobile collateral tokens can be used for instant settlement, collateral management and effective cash…

Bitcoin Is Already at 40% of Average Fiat Currency Lifespan — 10 Years

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Bitcoin (BTC) may only be ten years old, but it is about to match half the lifespan of the average fiat currency — while actually increasing in value. Average fiat dies in 27 years As Bitcoin statistician and commentator Willy Woo noted on Oct. 18, the largest cryptocurrency has been around 40% as long as the average government-issued currency. Woo was referencing a 2018 study by DollarDaze. Out of 775 fiat currencies past and present, researchers concluded the average lifespan is just 27 years. The longest-living fiat currency, the British…

Bitcoin Has Already Reached 40% of Average Fiat Currency Lifespan

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Bitcoin (BTC) may only be ten years old, but it is about to match half the lifespan of the average fiat currency — while actually increasing in value. Average fiat dies in 27 years As Bitcoin statistician and commentator Willy Woo noted on Oct. 18, the largest cryptocurrency has been around 40% as long as the average government-issued currency. Woo was referencing a 2018 study by DollarDaze. Out of 775 fiat currencies past and present, researchers concluded the average lifespan is just 27 years. The longest-living fiat currency, the British…

SEC Insists Grams Are Securities — TON Launch Won’t Change This

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The United States Securities and Exchange Commission (SEC) has responded to Telegram’s counterclaim, insisting that Grams are securities. Preventing Telegram from further violation Following Telegram’s counterclaim on Oct. 16, where the firm argued that its native crypto is not a security and the preliminary injunction should be denied, the SEC has responded with a new filing in the U.S. District Court for the Southern District of New York on Oct. 17. In the document, the regulator not only insists that Telegram has actually violated the U.S. securities laws but also…

Crypto Tracking Helps Uncover a Huge Global Child Porn Ring Based in South Korea

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Thanks to the tracking characteristics of blockchain technology, United States authorities have been able to uncover the largest international child porn ring ever. It is no news that crypto coins can (and are being) used to finance illegal activities. These activities range from (but are not limited to) aiding money laundering to financing terrorist groups, child pornography, and drug trafficking. Luckily, law enforcement agencies are aware of these illegal activities and are on their toes, devising means to keep as many as possible of the bad guys out of the…

Cryptocurrency a Great Equalizer Against Big Tech

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The Premier of Bermuda, Edward David Burt, has said that cryptocurrencies are a great equalizer and characterized fintech innovation as a national strategic imperative. In an interview for Forbes published on Oct. 18, the Premier — a former programmer, startup founder and entrepreneur who went on to become the youngest national leader in Bermuda’s history — expressed his belief that cryptocurrencies will ensure that citizens are less beholden to large corporations and government than they are now. Governments must engage The Premier placed a strong emphasis on crypto’s role in…

Binance Hikes Leverage to 125x for Launch of Bitcoin-Tether Futures

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Binance’s futures exchange is raising leverage to 125x with the launch of bitcoin (BTC)/tether (USDT) contracts today. The cryptocurrency exchange first announced its futures platform in early July, at the time hinting it would allow 20x leverage. Now, futures traders can now choose leveraged positions between 1x and 125x, it said Friday. “We have seen an increase in institutional participation in trading … And they are flocking to Binance Futures,” said Binance CEO Changpeng “CZ” Zhao in a statement. “The market has been demanding a product with superior stability and performance; now…