Month: July 2020

Money Reimagined: Let’s Be Privacy Scolds

All well and good. Yet, it’s easy to imagine how peeping Toms could take advantage of this feature to spy on unsuspecting innocents, if they haven’t already. Neophytes who neglect to cover their tracks, for example by sharing their addresses publicly and reusing them, would be easy prey. It’s unsettling enough how much you can find out about someone in 10 minutes of googling. Now add financial transactions, which perhaps say more about people than anything else, to the mix. If crypto achieves mass adoption before privacy leaks are fixed,…

Bitcoiners Are Not Looking for a Store of Value, Gold Bug Adam Schiff Says

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A known gold enthusiast, financial commentator Peter Schiff said Bitcoin (BTC) holders are not actually looking to the asset as a storage of wealth — one of the most commonly touted use cases surrounding the coin.  “I buy gold as a way to store my wealth, as a conservative place to keep liquidity, as opposed to keeping it in dollars or some other fiat currency,” Schiff told interviewer Peter McCormack, host of the What Bitcoin Did podcast, during a July 17 episode. “I do think that when people are buying Bitcoin, they’re…

Over 7M Americans Own BTC But Hold None In Retirement Accounts

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Ryan Radloff, CEO of custody solution Kingdom Trust, recently explained a vast number of Americans do not hold Bitcoin (BTC) in their retirement accounts.  “There’s 7.1 million Americans that have already made the leap to buy Bitcoin or take the dive into our industry so to speak, and have a retirement account, but don’t have Bitcoin in their retirement account,” Radloff told Morgan Creek Digital co-founder Anthony Pompliano in a July 18 interview.  People have more to spend on Bitcoin in their retirement accounts Retirement accounts allow the public to…

Getting Out of Cash Is Key to Wealth and Inflation Protection, Pompliano Says

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During a recent YouTube livestream, Morgan Creek Digital co-founder and crypto expert Anthony Pompliano detailed the current post-COIVD-19 economy, noting the U.S. government’s money printing and spending efforts.    “There is a devaluation of currency,” Pomliano said in his July 18 livestream. “The whole secret to building wealth is to get out of cash and get into assets that are denominated in dollars that will continue to go up in value over long periods of time — stocks, real estate, gold, Bitcoin, all this stuff.” Assets up while the economy…

Pomp Says Unemployment Has Risen Faster Than in the Great Depression

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Morgan Creek Digital co-founder Anthony Pompliano, also known as Pomp, jumped on a YouTube livestream on July 18, talking about the current economic state and its future. “In 1929, which was the start of the Great Depression, there was 3.1% unemployment — record low — and that unemployment jumped from 3.1% to over 8.5%, to then over 15% in the next two years,” Pomp said. “What you end up seeing is we have accelerated faster on the unemployment track than even in the Great Depression.” April 2020 saw 14.7% unemployment…

Abra Building Banking Solutions on Stellar Blockchain, CEO Barhydt Says

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Abra, the company behind the global crypto and fiat wallet and exchange app of the same name, plans to give the world banking services underpinned by Stellar’s blockchain — one of the results of the SDF’s $5 million investment in Abra earlier in 2020.  During the SDF’s digital second quarter review meeting on July 15, Abra CEO Bill Barhydt mentioned Abra’s focus on upcoming banking-type features the company is building out. In particular, Barhydt noted an “interest-earning capability” expected to hit the market in the coming weeks.  Abra details upcoming…

BREAKDOWN: No, the Twitter Hack Wasn’t About Bitcoin

Wednesday, at around 2:15 p.m. EDT, prominent Crypto Twitter accounts started sharing a similar message about a bitcoin giveaway. A couple of hours later, Elon Musk and Bill Gates were saying they were feeling generous and wanting to give bitcoin away. A couple more hours and every verified blue check mark account on Twitter was taken down. Source

Justin Sun Offers $1 Million Bounty in Exchange for Twitter Hackers

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After a massive number of Twitter accounts were hacked on July 15, one of the affected, Tron founder Justin Sun, put a bounty on the heads of those responsible.  Tron’s founder will give $1 million to the person or persons responsible for tracking down the hackers and providing pertinent data on the situation, Sun, CEO of BitTorrent and Founder of TRON told, Cointelegraph.   Sun added: “We are working closely with Twitter to resolve this issue immediately and return our accounts to normal. We are always vigilant in the handling our…

OKCoin Launches Its Own DeFi Price Oracle Based on Compound Tech

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OKCoin fired up its own price oracle for the DeFi space with data traceable back to its origin, offering verified accuracy.  “OKCoin has launched OKCoin Oracle, a signed price feed that can be used for reliable on-chain pricing in support of the burgeoning DeFi ecosystem,” OKCoin director of communications, Will McCormick, told Cointelegraph.  He added: “OKCoin Oracle acts as a trusted source of market data, and anyone can publish OKCoin pricing on-chain. Once on-chain, OKCoin is verifiable as the source of the data, using the OKCoin Oracle public key.” DeFi…

Gemini Unveils Hardware Key Compatibility on Mobile App

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Gemini revealed hardware security key functionality for its mobile application, giving customers compatibility with devices such as Yubikey for added security.  Thanks to WebAuthn compatibility on Gemini’s app, iOS and Android “Gemini customers can now use USB and near-field communication, or NFC, security keys to securely sign into the Gemini Mobile App,” the exchange said in a July 14 statement provided to Cointelegraph.  The addition bolsters two-factor authentication  Two-factor authentication, or 2FA, allows for added security beyond a simple website password login. If enabled, 2FA requires a code from a…