Day: July 21, 2020

What Is a Bitcoin Mixer? Complete Guide 2020

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The idea of Bitcoin is to decouple the government from finance ensuring that each system performs its functions independently. Bitcoin is thus a system that functions on the ideals of independence, decentralization, and privacy.  By leveraging a transparent ledger, the protocol continues to shape finance. However, for its transparency, BTC transactions are unfortunately traceable.  To break the trail and confuse trackers, a Bitcoin mixer is used to anonymize transactions.  What Is A Bitcoin Mixer? Bitcoin mixers are solutions that let users “mix” their coins with a goal of anonymizing transactions and securing…

Kazakhstan Needs National Crypto to Fight Corruption, Says Local Official

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The Chairman of Kazakhstan’s anti-corruption service has called on the government to develop a national digital currency to fight corruption in the country. Alik Shpekbayev, chairman of Anti-corruption Agency of the Republic of Kazakhstan, reportedly said that national digital currencies like China’s digital yuan should contribute to a more transparent financial system. The news was reported by local news agency Kazinform on July 21. National digital currency is expected to cut cash transactions According to the official, an implementation of the national digital currency should inevitably reduce transactions in cash,…

New Satoshi Stash Estimate Claims Creator Mined $10.5B Worth of Bitcoin

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On Monday, the blockchain trackers and researchers from Whale Alert published a new research report about the infamous fortune allegedly owned by Satoshi Nakamoto. Researchers estimate that Bitcoin’s creator possibly mined coins up to block 54,316, capturing 1,125,150 BTC or $10.5 billion using today’s exchange rates. For years now armchair sleuths and researchers have tried to estimate how many bitcoins Nakamoto owns and many people leveraged mining patterns. One of the most popular theories about Satoshi Nakamoto’s bitcoin (BTC) stash stems from RSK Labs chief scientist Sergio Demián Lerner. The…

Could Compound’s Governance Token COMP Be Deemed a Security?

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Innovation springs eternal in the digital asset ecosystem, and with Compound’s launch of its governance token, COMP, last month, the burgeoning world of decentralized finance continues to pick up steam. The broader cryptocurrency community has embraced COMP, which now trades on OKEx, Binance and Coinbase Pro, among other digital asset exchanges, while other investors were dumping Compound tokens after listing on major exchanges, according to the report by Flipside Crypto. By democratizing access to liquidity and yield, DeFi is in many ways the next logical step in cryptocurrency’s seemingly unstoppable…

Will Band Protocol’s Over 30% Correction Lead To A Blow Off Top?

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A new breakout cryptocurrency all-star following in the footsteps of Chainlink has been on an insane over 380% rally over the last three weeks alone. But what goes up, must come down, and the over 30% correction in Band protocol may result in a blow of top. Here’s why. Decentralized Oracle Hype Sends Leading Crypto Altcoins Soaring The cryptocurrency market is a speculative asset class where valuations are driven by hype. Supply and demand come into play, but with crypto, irrational exuberance or extreme fear far outweigh normal market dynamics.…

Sizeable Portion of Tether’s $4.5B Growth Comes From Exchange Fiat

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Tether (USDT) recently rose through the ranks as it replaced XRP as the third highest ranked asset by market capitalization. It now sits at a total of more than $9 billion in circulating USDT, dwarfing its stablecoin competitors in traded volume and overall supply. Cointelegraph interviewed Paolo Ardoino, the CTO of Tether and Bitfinex, to get an inside look into the sudden rise. Half of Tether’s total growth came after the infamous March 12 market crunch, jumping from $4.6 billion to $9.1 billion in the span of a few months.…

Blockchain Bites: China’s BSN Integrations and Satoshi’s Newfound Wealth

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Crypto firms are cooking up ways to become “Travel Rule” compliant, Satoshi’s stash got a little bigger and one of Ethereum Classic’s top supporters is walking away from the project. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Travel RuleBitGo, Coinbase and other top exchanges are expected to release a white paper next month detailing a type of “bulletin board” meant to help exchanges comply with the…

Crypto Scammer Sentenced by South Korean Authorities

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A South Korean court has sentenced an unnamed 43-year-old man to two years and six months in prison for his participation in a $249 million crypto mining pyramid scheme. According to Yonhap Lee Sang-wook, the judge at the Incheon District Court who made the announcement, the crypto mining pyramid scheme is still under investigation. The indicted was allegedly a secretary of the illegal company from May 1 to September 23, 2017. No details were given about the magnitude of his involvement, nor the specific cryptocurrency involved in the fraud.  Police…

Bitcoin Volatility Hits 2018 Lows but Is a Repeat 42% Drop Possible?

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At the start of this week, Bitcoin’s (BTC) volatility, or the average daily oscillation, dropped to its lowest level since November 2018 (when the infamous $6,000 support finally broke). Prior to today’s mild breakout to $9,437, the last significant move above 1% was on July 9 when the price dropped 2.1%. Generally, Bitcoin price has been trading in a tightening range for the past month so today’s move above the $9,400 resistance isn’t much of a deviation from the 30-day trading range. The last time Bitcoin showed similar price action…

Blockchain Fintech Firm BitBond Joins German Bank Association Bankenverband

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Bitbond, a Germany-based firm that provides blockchain enabled tokenization services, announced on Tuesday that it had become a member of the German bank association Bankenverband.  Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link