Crypto News on 09 Oct, 2024

The Worst Return From Holding Bitcoin

Share to Facebook Share to Twitter Share to Linkedin Person Holding Silver Bitcoin Coin Crypto Crow via Pexels How long do you need to hold Bitcoin to beat the market, regardless of when you bought or sold? Michael Saylor once claimed that you should never hold Bitcoin for less than four years because you are guaranteed to not lose money. The idea is that if you are holding a highly appreciating asset like Bitcoin, what really matters is the holding period rather than the specifics of when you bought or sold. If the asset appreciates enough, that appreciation will swamp the details of what specific price you bought or sold and, therefore, erase some of the stress from the volatility. Let's evaluate this claim against Bitcoin price data. First, I'm going to generalize the conjecture to be: “If you hold Bitcoin for time x, you will be guaranteed to earn a return above y.” Saylor took x = four years, and y = zero, but we can actually find what horizon gives the worst return on Bitcoin, and compare that to other investments, like the S&P500. The Worst Case I'm going to use a trick from computer science called worst-case analysis. This is a method for evaluating algorithms when you don't necessarily have good information on uncertainty, and instead just want to ask how the algorithm would perform in a worst case. In this case, our “algorithm” is the return to holding Bitcoin, so we want to come up with a measure for the worst return from holding Bitcoin over different horizons. That is the lower bound on your return, since it will represent buying at the highest possible price and selling at the lowest possible price. This is your worst case. Here's my method. I use daily Bitcoin price data from January 2011 to January 2024. For a fixed holding period, I calculate the return over all possible buys and sells. For example, consider a two year holding period , and compute the 2 year return from buying on 1/1/2011 and selling 2 years later, buying on 1/2/2011 and selling 2 years later, buying on 1/3/2011 and selling 2 years later, etc. That will generate a different return for each possible 2 year holding period. Find the lowest of those returns —- that’s the worst possible 2 year return. (If you’re curious, the worst 2 year return was -46% per year, with a buy on 12/4/2013 and sale at 12/4/2015). Now repeat this calculation for all possible holding periods (2 years, 2.1 years, 2.2 years, etc). With this in hand, you can now plot the worst return as a function of the horizon: Value of Scarcity PrinciplesofBitcoin.com MORE FOR YOU Gmail Hackers Have Control Of 2FA, Email And Number? Here’s What To Do ‘Dancing With The Stars’ Hair Metal Night Scores—Who Went Home In The Double Elimination? Hurricane Milton Live Updates: Storm Hits Category 5 As It Heads Towards Florida Here are a few observations that are apparent. First, Bitcoin's volatility for short holding periods can lead to big losses, north of 75% of invested capital. That is the volatility that captures almost all attention in the financial press. What they don't realize is that volatility has both downside and upside. The upside appears on the right half of the graph, where Bitcoin's returns steadily increase, peaking at 150% per year if held for the full 13-year horizon, from January 1, 2011 to January 1, 2024. Second, the graph is not monotonic. It does not steadily increase but has peaks and valleys. For example, Bitcoin's worst return crosses 0% first at 3.25 years, again at four and a half years, and finally at over five years. So after 5.09 years, no one would have lost money by investing in Bitcoin, since the worst return is a lower bound on their payoff. After 5.86 years, Bitcoin would return at least the stock market’s historical return of 8%. After 6.08 years, Bitcoin would return at least Warren Buffett's historical return of around 22%. And after a little more than 10 years, Bitcoin will have returned more than 50% annually, greater than nearly all other investments. Now let’s compare Bitcoin against other assets: Bitcoin vs. Other Assets PrinciplesofBitcoin.com While the worst return from holding the S&P 500 is positive after around three years, it never really takes off. You can see the greater volatility of Bitcoin, but also the higher returns. SPY Principal Shareholder Yield Index ETF SPDR S&P 500 ETF Trust looks very safe in comparison, but that safety comes at a price. This graph shows the volatility of Bitcoin in a new light. The worst returns from other assets like gold, real estate, and bonds are (a) similar to each other, and (b) nearly flat compared to Bitcoin. It's true that other assets may not lead to large initial losses, but they also do not lead to longer-term gains. By way of comparison, the worst return from the S&P 500 exceeds 0% after 3.61 years, and 8% after 9.85 years. Similarly, it takes gold 12.38 years to escape breakeven in its worst case. This graph also gives the best indication that Bitcoin really is a new kind of investment. Notice how stocks, bonds, and real estate cluster together, while Bitcoin is markedly different. What about a basket of tech stocks? Here are the worst returns of Bitcoin against those of Tesla, Apple, and Nvidia from January 1, 2011, to January 1, 2024: Bitcoin vs. Big Tech PrinciplesofBitcoin.com Compared to the previous chart, the top tech stocks look more like Bitcoin, with larger losses for small holding periods and bigger gains for longer holding periods. It takes 4.23 years for Apple to guarantee a return of 0% and 6.83 years to exceed a return of 8%. It takes Tesla 5.71 years exceed break even, and it takes 6.21 years for Tesla to beat the historical stock market return of 8%. Finally, here is Bitcoin against 9 large companies Bitcoin vs. Top Stocks PrinciplesofBitcoin.com Even if you had bought Bitcoin at the highest possible price and sold it at the lowest possible price, you would have eclipsed the worst return from all other stocks after year 10. The Value of Scarcity The graphs illustrate the value of scarcity. A bare economic logic governs the price of Bitcoin: the supply is fixed and predictable, while demand has increased. There is no other way for price to respond but to go up. You may think, however, that all of this rests on social consensus: people want Bitcoin because they believe it to be valuable. That is true, but there is an important feedback loop here. The fixed supply is what makes it valuable, which in turn drives price up, which then attracts new buyers, which in turn increases demand, which then causes price to increase again, and so on. The fixed supply is existential for this feedback loop to occur. And that fixed supply is what is missing from all other investments, such as fiat currencies, gold, and real estate. So we may not have exactly returns of this same magnitude in the future, I cannot believe that the underlying forces at play will simply vanish altogether. The analysis here is a snippet of a longer research paper on worst-case analysis that I'm writing for an academic audience. Bitcoin motivated this problem, but a worst-case metric can apply to any investment. All the data in the analysis above comes from publicly available resources, such as SPY for the S&P 500 and ETFs like GLD SPDR Gold Shares for tracking the return from gold. This is part of a longer project for worst-case returns. Subscribe to the paid version of this newsletter to see the full analysis, including the code for the computations. Follow me on Twitter or LinkedIn. Check out my website. Korok Ray is an Associate Professor at the Mays Business School at Texas A&M and Founder of the Southwest Innovation Research Lab. He teaches the first Bitcoin class at Texas A&M called The Bitcoin Protocol in the Department of Accounting and the Department of Computer Science. He writes a Bitcoin newsletter, PrinciplesOfBTC.substack.com Editorial Standards Forbes Accolades

2024-10-09 12:53:34

Bitcoin's Mystery Creator? Peter Todd Reacts to HBO Reveal

Cryptographer Peter Todd has denied he is Bitcoin creator Satoshi Nakamoto, as claimed in a HBO documentary, saying he thinks the director cares more about making a profit than finding out the real identity.A new HBO documentary has identified Peter Todd, a Canadian developer, as the elusive creator of Bitcoin, Satoshi Nakamoto. Filmmaker Cullen Hoback, known for his award-winning work, claims to have unearthed compelling evidence pointing to Todd's involvement in the creation of the world's most popular cryptocurrency.Hoback's documentary, Money Electric: The Bitcoin Mystery, has interviews with several prominent figures in the cryptocurrency community and trawls through old internet posts to support the claim. In one scene, Hoback confronts Todd with his findings, to which Todd seemingly confesses, "Well, yeah, I'm Satoshi Nakamoto."However, the documentary acknowledges that this statement should not be interpreted as a definitive confirmation, as Todd has previously referred to himself as Satoshi as a gesture of solidarity with the creator's desire for privacy. This is a common refrain amongst the crypto community online: "I am Satoshi Nakamoto," or "We are all Satoshi Nakamoto."Todd later say to Hoback, "You come up with some crazy theories. It's ludicrous, but it's the kind of theory that someone who spends his time as a documentary journalist would come up with."Todd, a prominent figure in the Bitcoin community, has been a core developer and was known to have communicated with the pseudonymous Nakamoto in the platform's early days. Despite his standing, he has rarely been considered a prime suspect in the hunt for Satoshi's true identity.Predictions ahead of the documentary's broadcast pointed to several individuals including Adam Back, a British cryptographer whose work was cited in the original 2009 Bitcoin whitepaper. Following the airing of the documentary, Hoback posted on X (formerly Twitter): "The Father: Adam Back, The Son: Peter Todd, The Holy Ghost: Greg Maxwell."Hoback followed up to responses saying Todd would have been too young to have developed such technology when the Bitcoin whitepaper was released in 2009, replying to an X user that "Peter was 23 at the time ... Most cryptographers have their major breakthroughs when they're younger. His dad is an economist," adding, "Did you watch?"In the documentary itself, Hoback points to an internet forum post from 2010 as evidence that Todd is the person behind Nakamoto. In this post, Nakamoto explains Bitcoin transactions and Todd responds to the comment, elaborating on the point. Hoback says it is proof that Todd accidentally logged on under his own name to continue the post.Todd's response was to repost an X post saying, "This is clearly ridiculous! It is just an example of @peterktodd replying to Satoshi with a snarky, pedantic and accurate comment ... This is the kind of comment Peter could make today. There is zero reason to believe this was Satoshi."He later flatly denied being Nakamoto, posting, "I'm not Satoshi," in response to an X user posting, "If Peter Todd wasn't Satoshi then he can just publicly deny it on Twitter instead of making half sarcastic comments about it."Todd went on to claim that Hoback simply wanted to make a popular documentary and didn't really care about finding out who was behind the creation of Bitcoin: "If @CullenHoback had actually wanted to find Satoshi, he would have presented his theories to Adam Back and I to see if there wasn't some trivial flaw in them like this.""But he didn't want to do that. He wanted to make a profitable documentary. So he never asked us if there were flaws in his theory," added Todd.Adam Back, who is well-known in the cryptocurrency and cryptography communities, and was also interviewed for the documentary, also took to X to deny he is Nakamoto or part of a founding collective."In 2013 I went on #bitcoin-wizards IRC (an internet chat protocol popular in the early days of the internet) and asked lots of questions to catch-up with bitcoin details. ... here are logs of that IRC channel, so developers who were in the channel are confident it's not me."He clarified, "Not me," in response to a direct question asking if he was Nakamoto, and later added, "no one knows who Satoshi is. and that's a good thing.Back said, "I think only he knows who he is. As saying goes loose lips sink ships. Gossiping about secrets while fun is a recipe for leaks," while later reflecting that "at this point it wouldn't matter much IMO. If Satoshi came back and proposed silly changes, people would reject them. Yes like with Elon you'd get to see founder eccentricity or tabloid puff pieces about what pizza topping he likes. But that'd be just noise."Gregory Maxwell, co-founder of blockchain Blockstream and an early Bitcoin advocate, was also namechecked by Holback who called him "The Holy Ghost" to Back's "Father" and Todd's "Son." Maxwell posted on a Y Combinator forum that Holback's logic leading him to Todd was faulty."Also, at the time petertodd's account was named 'retep' and didn't have any immediately obvious connection to his identity. If there had been a slipup he could have just abandoned the account and certainly not later had it renamed to his legal name!" said Maxwell.

2024-10-09 11:51:28

UNODC Suggests Penalties for Unlicensed Crypto Firms in Southeast Asia

A recent report by a UN body highlights the rapid rise of crypto-related cyber fraud in Southeast Asia. The United Nations Office on Drugs and Crime (UNODC) estimates that the region suffered financial losses of around $37 billion (roughly Rs. 3,10,663 crore) from scams in 2023 alone. To counter this growing trend, the UNODC has recommended penalising unlicensed crypto firms, which are being exploited by money launderers to facilitate illegal transactions. “Building on existing underground banking infrastructure including underregulated casinos, junkets, and illegal online gambling platforms that have adopted cryptocurrency, the proliferation of high-risk virtual asset service providers (VASPs) across Southeast Asia have now emerged as a new vehicle through which this has taken place, servicing criminal industries without accountability,” the report said. The report recommends that unregulated and unlicensed Virtual Asset Service Providers (VASPs), particularly crypto exchanges, be proactively "identified and prevented from operating" as part of the regulatory measures.Here's How Meta's Hyperscape Turns Phone Cameras into Metaverse Portals The UNODC released a report this week titled, "Transnational Organized Crime and the Convergence of Cyber-Enabled Fraud, Underground Banking, and Technological Innovation in Southeast Asia: A Shifting Threat Landscape." Based on 'extensive evidence,' the report reveals that organized crime groups are exploiting casino compounds, special economic zones, and border areas to conceal illicit activities. Commenting on the situation, Masood Karimipour, regional representative for Southeast Asia and the Pacific, UNODC, said, “Organised crime groups are converging and exploiting vulnerabilities, and the evolving situation is rapidly outpacing governments' capacity to contain it.” He further emphasised that cybercriminals are becoming increasingly sophisticated in leveraging advanced technologies to carry out large-scale fraud, resulting in more significant financial losses.IMF Asks El Salvador to Narrow Scope of Bitcoin Law, Limit Public Exposure “This has led to the creation of a criminal service economy, and the region (Southeast Asia) has now emerged as a key testing ground for transnational criminal networks looking to expand their influence and diversify into new business lines,” Karimipour added. The UNODC has strongly advised the governments in Southeast Asian nations to become more vigilant and to prioritise practices that can reduce the number of cyber fraud cases. In addition to the exploitation of cryptocurrencies, the report highlights a staggering 600 percent increase in AI-driven cybercrimes, including deep fakes, in the first half of 2024 alone. The misuse of AI has been identified as a critical multiplier of financial crimes across the region, encompassing Cambodia, Indonesia, Malaysia, Singapore, Thailand, and Vietnam. “The integration of generative AI have not only expanded the scope and efficiency of cyber-enabled fraud and cybercrime; they have also lowered the barriers to entry for criminal networks that previously lacked the technical skills to exploit more sophisticated and profitable methods,” John Wojcik, a regional analyst at the UNODC said commenting on the situation. As per Statista, the crypto market in Southeast Asia is estimated to grow by 4.13 percent between by 2025 – making for a valuation of 4.4 billion (roughly Rs. 36,944 crore). .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }

2024-10-09 11:23:55

Canary Capital Files S-1 For Spot $XRP ETF – A Bitcoin Decoupling In The Future?

Days after Bitwise Asset Management filed an S-1 with the U.S. Securities and Exchange Commission (SEC) to issue an XRP exchange-traded fund (ETF), cryptocurrency investment firm Canary Capital has joined the first-movers circle.Canary submitted the filing on Tuesday, becoming only the second company to apply with the financial regulator for an XRP ETF, marking another significant move among crypto investment firms that believe in the XRP token's potential.Why is Canary Joining the $XRP ETF Lineup?A Canary spokesperson said that the investment firm has been seeing "encouraging signs" that the regulatory environment is becoming more progressive. There is also an apparent growth in demand for "sophisticated access" to cryptocurrencies beyond top digital currencies like Bitcoin and Ethereum, the spokesperson added.There are investors "seeking access to enterprise-grade blockchain solutions and their native tokens such as XRP," the spokesperson concluded.Crypto Community Welcomes News of Another Potential $XRP ETFAfter Bitwise became the first mover in XRP ETF filings, the crypto community went wild, hopeful that the SEC will also approve ETFs for other digital assets moving forward.With news that another firm is entering the fold, crypto users are going wild."Very soon XRP will decouple from BTC and do its own thing," one user said.While the projection is possible, decoupling may be a strong word to use in this case, considering how XRP is still far from reaching the same level of success as the world's largest cryptocurrency by market value.Furthermore, XRP has yet to break through the $4-mark and has been on a price downtrend in the last two weeks. In comparison, Ether, the second-largest digital currency, is currently priced at around $2,400, while Bitcoin is trading above $62,000 as of late Tuesday.Still, many crypto users believe the development is a huge step forward for XRP, which is embroiled in a legal battle with the SEC over largest-holder Ripple.One user even suggested that XRP may flip Solana (SOL), another top crypto token. If such a scenario happens should an XRP ETF be approved, the user expects "max[imum] pain" for the SOL community.Even Ripple CEO Brad Garlinghouse is celebrating the development, posting a meme that states, "It's happening again." Garlinghouse predicted in June that ETFs beyond BTC and ETH are inevitable, although he did acknowledge that the road to approval will be much more challenging.SEC vs Ripple Saga ContinuesMeanwhile, Ripple, which is closely associated with the XRP token, has yet to find complete relief from the SEC's hounding as the Wall Street regulator filed to appeal a court's ruling in 2023 regarding XRP's status as a non-security.Ripple, which holds the largest amount of XRP, said it will not back down from the fight, especially after the appeal was filed just before SEC enforcement chief Gurbir Grewal resigned from his post.

2024-10-09 11:04:01

'I'm Not Satoshi': Peter Todd Denies HBO Documentary Claim He's Bitcoin Creator, Crypto Goes Wild

Satoshi Nakamoto is Peter Todd – that's according to an HBO documentary by renowned investigative filmmaker Cullen Hoback, who exposed the authors of the QAnon conspiracy theory.Todd, a Bitcoin developer notorious in the BTC community for his temper, immediately shut down the claim. "I'm not Satoshi," he wrote on X, in response to an investor who challenged the 39-year-old to publicly deny it "instead of making half sarcastic comments" regarding the documentary film.Despite Todd's denial, Hoback has remained confident that his three-year search for Nakamoto, which was packed into "Money Electric: The Bitcoin Mystery," points to Todd.What Did Hoback's Research Reveal?The HBO docu-film suggested that the reason why Todd uses a pseudonym is so people will take his creation seriously, also pointing to a cryptic message from Todd's past chat log where the latter said he was the "world's leading expert on how to sacrifice your bitcoins...".The documentary also pointed to a 2010 Bitcoin board post from Todd that Hoback said was written by the BTC creator."Peter was there that day (in which he was interviewed for the film). He knows what was discussed. He had every opportunity to explain himself," Hoback told CNN.Denial is What the Real Satoshi Would Actually Resort To?As soon as people saw the documentary, many were convinced that Todd was indeed Nakamoto – most said the real Satoshi would have also denied the claim if he/it was identified.The running discussion within the crypto community is that Nakamoto may have chosen to be the enigmatic creator of the world's largest digital currency due to potential government attention, as was the case with Telegram CEO Pavel Durov.Did the HBO Documentary Put Todd in a Tough Spot?While many crypto users are convinced Todd is just denying the fact that he is Satoshi, others raised issue about the docu-film's revelations and how they may have opened a dangerous window in Todd's life.Prominent analyst Adam Cochran pointed out that with the documentary's release, Todd will have people "trying to extort him like they did with Hal." He also called out the film for alleged "sh** journalism."Cochran was referring to software developer and privacy pioneer Hal Finney, the first person to receive Bitcoin from Satoshi. Notably, the U.S. SEC approved spot BTC exchange-traded funds (ETFs) exactly 15 years since Finney tweeted "running Bitcoin." Many Bitcoiners place Finney as a leading contender for the real BTC creator title.One user said that if any individual admits to creating Bitcoin, that person "will be jailed for life," seemingly referring to how the government initially reacted very negatively to the digital asset and how it has taken more than a decade before traditional institutions started adopting the asset. Until now, there are still governments that refuse to acknowledge Bitcoin and crypto as the "future of money."So Who is Satoshi If It's Not Todd?With Todd's denial, the mystery has only gone deeper. On the other hand, there are still some individuals who are being touted as the real Satoshi, including Finney and Len Sassaman, who once topped Polymarket's event contract on who Hoback will unmask as Nakamoto.It remains to be seen whether Todd will someday "admit" he is Satoshi, or if someone else discovers who the "real" creator of Bitcoin is. For now, HBO's documentary is no more than a theory on the masked individual or entity that created a revolution in the digital economy.

2024-10-09 11:02:21

Supreme Court Rejects Seized Silk Road Bitcoin Case – Will The US Government Dump?

The U.S. government has cleared a hurdle in relation to 69,370 Bitcoin seized from darknet marketplace Silk Road after the Supreme Court refused to hear a case brought by Battle Born Investments that could have handed over the massive BTC stash worth around $4.38 billion.Battle Born Investments filed a request for review with the Supreme Court, claiming that it purchased rights to the seized assets through a bankruptcy estate. With the court's denial to hear the case, talks are emerging about how Bitcoin prices will move should the U.S. government dump all of its BTC as Germany did.Battle Born's Difficult Journey to Claiming Silk Road $BTCIn 2022, a district court struck down Battle Born's claims to the seized Bitcoins. The company claimed it was "entitled to, unencumbered right, title and ownership" of the behemoth Bitcoin stash.Last year, an appeals court reaffirmed the district court's decision. "The district court correctly struck the Battle Born parties' claims for lack of standing," it said."Reviewing the record de novo, we conclude that the Battle Born parties failed to carry their burden to establish some evidence, beyond a mere assertion, of ownership of the Defendant Property, from which a reasonable and fair-minded jury could find that they have standing," the appeals court reiterated.What Will the Government Do Next?While it is unclear what the U.S. government plans for the seized digital currencies, in April, a wallet linked by leading blockchain analytics firm Arkham Intelligence to the U.S. government moved 30,174 BTC (worth $2 billion at the time) to a Coinbase deposit address.At the time, some financial industry experts saw the move as having a positive effect on BTC prices, since the Bitcoins were expected to be returned to the crypto market.Based on how crypto investors reacted to the German government's dump of its $3 billion Bitcoins seized from a movie piracy site, it appears the crypto market may not have had the same reaction as back in April.Bearish Views Emerge on XA wave of bearish talk is emerging on X, with some suggesting a dump from the U.S. government may have a negative effect on crypto prices.One user said it appears that whenever Bitcoin prices begin to pick up, "the gov comes up with some bearish news to put a damper on it." Another said the government under President Joe Biden has become desperate "to stop Bitcoin rally before [the] elections]."Just Dump It: Bitcoin OwnersFor other BTC holders, a government dump would be a great opportunity to stack up on more Bitcoins. Some urged the Bitcoin community to buy the dump from the government and "never allow them back."As of early Wednesday, BTC is trading at around $62,300. It had a positive run last month, hitting $66,000 and surviving two bloodbaths in August.

2024-10-09 11:00:03

Toncoin Whales rally support for IntelMarkets as stage 3 presale closes in on $1M, Tron price continues to rise

The crypto space is getting competitive as new projects emerge with the potential to dethrone old OGs. Currently, Toncoin (TON) whales are backing IntelMarkets (INTL), a new project that analysts have tipped as the best altcoin for 10x gains. IntelMarkets is in stage 3 of its presale and has raised almost $1 million in funding. Meanwhile, the DeFi token, Tron (TRX), is trading in the green regions with some other coins in the market. Toncoin (TON) exchange outflow increases According to the data from CoinGlass, $19 million in TON has been withdrawn from various exchanges within the last week, a move that could alter the movement of the Toncoin crypto. This data implies that traders are now willing to hold their TON and are not willing to sell. Such a negative Exchange Netflow, if it remains, may Kickstart a bullish sentiment in the market. This may cause a breakout, causing the Toncoin price to soar to the $7 region. In the meantime, the token is trading below the 50-SMA ($5.62) and 200-SMA ($5.51), a sign TON is under the control of bears. Analysts predict the price of the Toncoin token could soar to new highs in the coming weeks if positive sentiment returns to the market. However, a bearish move could lead to a downtrend, causing the cryptocurrency to lose the $5 region. Tron (TRX) price continues rising, could see new highs soon Tron (TRX) remains one of the top-performing altcoins in the market. It is still showing green across all timeframes despite the market volatility which has sent many altcoins falling to former lows. Data from CoinMarketCap shows the value of the Tron crypto increased on the weekly and monthly timeframes. It is consolidating within a narrow range of $0.145 and $0.160 on the monthly level. Going forward, the sentiment around the cryptocurrency is bullish. Most of its technical indicators are showing buy signals and support an upsurge. Analysts forecast that the Tron price could rally to $0.174289 in the next few weeks if there is a major breakout. In the case of a downtrend, the Tron coin has support at 50-SMA ($0.153054) and 200-SMA ($0.133289). IntelMarkets (INTL) adds a new dynamic to Crypto trading IntelMarkets (INTL) is a project that seeks to bring artificial intelligence and related tools into its crypto trading sector in order to gain a competitive advantage in the market. With this technology, traders can estimate the performance of many coins, analyze data from different sources, and predict price targets. Also, IntelMarkets plans to launch Rodeum-based AI self-learning bots. These bots are mostly focused on capital distribution and can be employed for risk management. It allows traders to provide them with targets for taking profits or stop loss during the trading activities of the bot. This feature will let traders maximize their portfolio for more profits. Besides that, IntelMarkets offers trading of perpetual futures contracts where positions can be held open. These contracts enable the users to change their trades and, at the same time, do not have to be concerned with expiring contracts. Moreover, IntelMarkets provides a high leverage of 1000:1 and high liquidity for those who trade perpetual future contracts. This puts IntelMarkets in a prime position to lead the crypto trading platform market as it chases a $264 billion valuation by 2030. Considering the features above, analysts predict high adoption for IntelMarkets. This adoption could improve the price of the native token INTL. For now, investors can buy IntelMarkets’ INTL coin for $0.027364. Experts forecast its price might increase by 10x in Q4 and a price target of $1 by 2025. Will Tron, TON, or IntelMarkets be the best Crypto investment of 2024? With Toncoin (TON) whales showing interest in IntelMarkets, it could rise to become a formidable force in the crypto market. The low price of $0.027364 and its potential to transform an entire market make it a great cryptocurrency to buy for investors seeking huge long-term returns. Discover More About IntelMarkets: Presale: https://intelmarketspresale.com/ Telegram: https://t.me/IntelMarketsOfficial Twitter: https://x.com/intel_markets DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more

2024-10-09 10:37:00

Has mystery over Bitcoin creator's real identity finally been solved? HBO doc claims to have found the man behind trillion dollar invention who goes by Satoshi Nakamoto moniker

A new HBO documentary has sensationally suggested that Canadian developer Peter Todd is the mastermind behind Bitcoin, until now identified only by the pseudonym 'Satoshi Nakamoto'. Todd is not among the usual suspects alleged to have launched the first decentralized cryptocurrency in 2008 - but a filmmaker says his credentials and early involvement in Bitcoin 'lines up' with what we know about the elusive Satoshi. The 39-year-old vehemently denied being the anonymous founder hours before 'Money Electric: the Bitcoin Mystery' aired, dismissing the claims as 'crazy theories'. He has been involved in Bitcoin since its founding as a core developer, however, and acknowledges having 'deep insights' into Bitcoin in the early days. In the closing scenes of the documentary, he says, 'Well yeah, I'm Satoshi Nakamoto' - apparently an expression of solidarity with the anonymous founder's privacy bid. Filmmaker Cullen Hoback told the New York Times he was convinced that Todd was behind the incredibly successfully cryptocurrency, however. 'I'm very convinced,' he told Kevin Roose. 'Based on the evidence, I believe Peter Todd was Satoshi. He may have let others in on the secret, but everything lines up with him.' While Todd is not among those usually named, his involvement in the early days of Bitcoin make him a viable candidate, followers say. Castle Island Ventures Founding Partner Nic Carter told POLITICO: 'He is one of the most important bitcoiners, from a technical perspective.' 'Generally speaking, people consider his views on bitcoin as very important.' But Carter doubted the allegations Todd was Satoshi. 'There's no bigger mystery in history,' he said. 'I personally hope we never find out who Satoshi is.' Todd dismisses the association as 'ludicrous', claiming he was 'too busy with school and work' to have been involved. Believed to be one of the few people who communicated with Nakamoto prior to his disappearance from online chats in 2011, Todd would have been 23 when Nakamoto first published Bitcoin's white paper. He said he became involved in the world of crypto when he was 15. In his later career, Todd also worked as chief scientist at Mastercoin - a digital currency and communications protocol built on the Bitcoin blockchain. He went on to assume the role of chief scientist at Dark Wallet, an open-source Bitcoin wallet. In 2016, he set up cryptographic keys to secure wallets and blockchain protocol for Zcash, a cryptocurrency based on Bitcoin's codebase. It is not clear what became of Satoshi Nakamoto in that time, having only had direct involvement in Bitcoin until the start of the last decade. Followers of the cryptocurrency have tried to identify the elusive founder - worth an estimated $69bn if still in control of their bitcoin wallet - for years, without any serious progress. The name Satoshi itself means wise in Japanese. Some have suggested it could refer to a group, rather than an individual, joined in common purpose. Last year, it emerged Apple Mac computers contain a hidden manifesto dedicated to Bitcoin - reigniting speculation after it was suggested Steve Jobs may have been behind the cryptocurrency. The discovery was made by tech blogger Andy Baio and prompted speculation that the Bitcoin founder and Apple genius were somehow related. Separately Jason Williams, author of Bitcoin: Hard Money You Can't F*ck With, said on the platform: 'Steve Jobs is Satoshi Nakamoto. I am serious.' However others were quick to point out that Apple temporarily banned Bitcoin from its app store in 2014 amid concern over volatile cryptocurrencies. An Australian computer scientist also came forward claiming to have created Bitcoin in a 2021 court case. The family of David Kleiman alleged that he and Craig Wright together made up the identity of Nakamoto. Wright was ordered to pay $100 million in damages to Kleiman's family after a jury surmised he had breached intellectual property rights. Britain's High Court ruled in May 2024 that Craig Wright had lied 'extensively and repeatedly' in a failed bid to claim he was Satoshi Nakamoto. In 2014 Newsweek published a story called 'The Face Behind Bitcoin' which claimed to have unmasked the father as retired physicist Dorian Nakamoto. Columnist Leah McGrath Goodwin claims that when she visited him at is California home he told her he was 'no longer involved in that,' adding he 'cannot discuss it.' However after the article was published the Japanese-American scientist insisted he had misunderstood Goodman's questions. He also claimed he hadn't heard of Bitcoin prior to the article being published. Twitter CEO Elon Musk was pressed to deny he was Nakamoto in a 2017 tweet.

2024-10-09 10:29:08

Did HBO Just Reveal Bitcoin Creator Satoshi Nakamoto's Real Identity?

Canadian developer Peter Todd is Satoshi Nakamoto, the mysterious creator of Bitcoin. No, we aren't saying it. It's award-winning filmmaker Cullen Hoback, who pieced together old and new evidence and confronted both Todd and Blockstream founder Adam Back, another suspect, with his findings. All this in a new HBO documentary titled "Money Electric: The Bitcoin Mystery".In a climactic moment of the documentary, Hoback asks Todd, “It seems like you had these deep insights into Bitcoin at the time?” Todd responds, “Well, yeah, I'm Satoshi Nakamoto.” However, in an email to CoinDesk before the documentary's release, Todd claimed, “Of course I'm not Satoshi.” He also told CNN, “For the record, I'm not Satoshi,” adding the film has been “irresponsible” and could endanger his life. The identity of Satoshi Nakamoto has long been shrouded in mystery, fuelling countless theories and speculation.Cullen Hoback remains confident in his theory, citing a 2010 Bitcoin message board post from Todd that he believes was written by Satoshi Nakamoto. The director spent years investigating various theories and suspects before settling on Todd.(function(v,d,o,ai){ai=d.createElement("script");ai.defer=true;ai.async=true;ai.src=v.location.protocol+o;d.head.appendChild(ai);})(window, document, "//a.vdo.ai/core/v-ndtv/vdo.ai.js");Nic Carter, Founding Partner of Castle Island Ventures, said, “I feel certain that Todd is not Nakamoto,” citing the Bitcoin creator's deep knowledge of cryptography and digital cash systems.Jameson Lopp, co-founder of the Bitcoin company Casa, also responded to the documentary's findings with scepticism. "Wherever Satoshi may be, I like to think they're having a laugh at this latest round of foolishness," he wrote on X.Wherever Satoshi may be, I like to think they're having a laugh at this latest round of foolishness.— Jameson Lopp (@lopp) October 8, 2024Peter Todd, a graduate of the Ontario College of Art and Design, was just 23 when the famous Bitcoin white paper was published. He began engaging with key figures in the crypto community as a teenager, making him a credible candidate for some enthusiasts. Hoback explained to Politico, “In investigations like these, digital forensics can only take you so far... Real answers can only be found offline.”The documentary features a dramatic scene where Hoback confronts Todd about the evidence linking him to Satoshi. Hoback said, “Peter was there that day... He had every opportunity to explain himself.” However, Todd rejected the film's claims, saying, “Cullen is grasping for straws here.”

2024-10-09 09:49:52

I am not Bitcoin inventor, says man named in HBO film

The intrigue around Satoshi is not just due to the mystery of their identity, but because of the enormous wealth they have accumulated. If they still had control of their bitcoin wallet, it would be worth around $69bn today - meaning Satoshi would be around the 20th richest person in the world. Peter Todd is a prominent Bitcoin developer and has been credited with many innovations in the world's first and largest cryptocurrency. But he has never previously been named as a prime Satoshi candidate in the years that people have spent trying to unmask the Bitcoin inventor. There is huge interest in this latest attempt to solve that riddle. Ahead of the documentary being released more than $44m was placed in bets on crypto betting website Polymarket on who the programme would name as Satoshi. What is Bitcoin? Key cryptocurrency terms and what they meanJudge rules computer scientist not Bitcoin inventor Cullen Hoback, who has previously attempted to unmask anonymous online figures like Q from Q Anon, says he came to his conclusion after years of research and interviews. One of his pieces of evidence that Mr Todd is Satoshi is a forum post he found from Peter Todd that looked to be a continuation of one from Satoshi. Another is that he once said online that he destroyed a huge number of the digital coins deliberately. A leading theory is that Satoshi deliberately destroyed access to his massive stash of bitcoins that were the originals created to start bitcoin. The 1.1m coins are now worth a fortune but have never been spent or transferred. Satoshi's stash of unmoved coins represent 5% of all bitcoins as the inventor decided that there would only ever be 21 million coins created. Mr Todd though says his posting history indicates he was not involved - he claims he was "too busy with school and work."

2024-10-09 09:45:42

Man hid thousands in drug money by converting it into cryptocurrency

An associate of an organised crime gang (OCG) helped to launder thousands of pounds earned through dealing cocaine by transferring it into cryptocurrency. The gang traded more than £4.6m worth of cocaine and thought they could make their funds "untouchable". Ranj Hassan, 35, of Cardiff, assisted the gang into laundering the proceeds of 40kg of cocaine which had been traded. The group used EncroChat in the mistaken belief their business would not fall on the radar of the authorities. An investigation into the OCG by police was named Operation Solano, with Joshua Billingham, 27, from Caerphilly, and Amir Khan, 31, from Cardiff playing leading roles in the drugs operation. READ MORE: Drug dealers who travelled round Cardiff in 'fake taxi' ordered to pay back thousands READ MORE: University drop-out found with more than £1,000 worth of cocaine In a bid to hide the scale of the operation, Billingham and Khan recruited partners, friends and family members to help launder the money, while they were both serving prison sentences for other matters. During the period of the conspiracy, US$2.85m worth of cryptocurrency transactions were made in associated accounts and withdrawals of US$2.38m were made. In 2020, Gwent Police searched a flat in Caerphilly and found two hydraulic presses used in the package and distribution of cocaine. Items were recovered which showed the extent the flat was being used to cut and package cocaine. A sample of half a kilo of cocaine, six kilos of cutting agent and other paraphernalia show to what extent the flat was being used. Prosecutor Ffion Tomos said: "The proceeds of this criminality had to be laundered. The involvement of (Hassan) and others saw them hide those proceeds away from law enforcement agencies. For this group, the chosen form was Bitcoin and cryptocurrency, moved from account to account in order to try to make that money untraceable. Thousands of dollars were transferred between various crypto wallets." Hassan, of Soudrey Way, Butetown, would be transferred regular money which he would then encrypt into cryptocurrency before transferring the money in this form to another party. He was responsible for transferring $114,167 into cryptocurrency, which equates to around £86,000. The defendant also transferred a separate amount of £5,000 to another bank account. He was arrested at his car wash business in City Road in February 2023 and claimed the financial transactions related to him purchasing cars. Hassan later pleaded guilty to concealing/converting/disguising criminal property. The court heard he has two previous convictions for possessing an offensive weapon and failure to surrender. In mitigation, Benjamin Waidhofer said his client was a father of two children and was the "main provider" for his family. Sentencing, Judge Jeremy Jenkins said: "You assisted the co-conspirators in laundering illegal profits from their drug dealing and made their jobs the easier by doing so." Hassan was sentenced to seven months' imprisonment suspended for 18 months. He was ordered to carry out 120 hours unpaid work and a 12 day rehabilitation activity requirement. The defendant was also made subject to Proceeds of Crime Act (POCA) proceedings. This interactive tool allows you to check the latest crime statistics for your area

2024-10-09 09:22:34

How Small Businesses Can Leverage Pi Cryptocurrency

As the digital economy continues to change, small businesses are presented with new opportunities and challenges. One such opportunity is the emergence of cryptocurrencies, like Pi, which are reshaping the way transactions and business operations are conducted. While many small business owners might find the concept of cryptocurrency intimidating, Pi can be a game-changer for those willing to explore its potential. Understanding Pi Cryptocurrency It is a relatively new cryptocurrency designed to be more accessible and user-friendly compared to traditional cryptocurrencies like Bitcoin. It was created with the goal of democratizing digital currency, allowing everyday people to participate in the crypto economy without the need for specialized hardware or extensive technical knowledge. Pi can be mined using a mobile app. Why Pi Is Different Unlike other cryptocurrencies that require significant computational power and energy consumption, it is built on a novel consensus algorithm that is energy-efficient and mobile-friendly. This makes it a practical option for small business owners who may not have the resources to invest in expensive mining rigs or complex technology. Benefits of Accepting Pi for Small Businesses Expanding Payment Options One of the most straightforward ways businesses can leverage Pi is by accepting it as a form of payment. By doing so, businesses can attract a tech-savvy customer base that is interested in using cryptocurrencies for their transactions. Accepting this currency can also set a business apart from competitors who have yet to adopt cryptocurrency, offering a unique selling point. Reducing Transaction Fees Traditional payment methods, especially credit cards, often come with high transaction fees that can eat into a small business’s profits. Cryptocurrencies like Pi offer a cost-effective alternative, as they typically involve lower transaction fees. Small businesses can reduce their payment processing costs, which is particularly beneficial for those operating on tight margins. Enhancing Security and Privacy Transactions conducted using Pi are secured by blockchain technology, which offers a high level of security and transparency. For businesses, this means reduced risk of fraud and chargebacks, which can be costly and time-consuming to resolve. Practical Steps to Start Using Pi 1. Setting Up a Wallet The first step for any small business interested in leveraging Pi is to set up a wallet. The wallet can be easily set up through the Pi Network app, which guides users through the process in a straightforward manner. 2. Integrating Pi Payments This integration might involve adding this payment option at checkout for online stores. While the Pi Network app makes it easy for businesses to start accepting this currency without needing to overhaul their existing payment infrastructure, it’s also worth considering the impact of its future value. For instance, understanding Pi price prediction could help you decide whether to hold it as an investment or convert it into other currencies. 3. Educating Customers This can be done through social media, email newsletters, or in-store signage. By explaining the advantages of using this currency, such as lower fees and enhanced privacy, businesses can encourage customers to adopt this payment method. Potential Challenges and How to Overcome Them Volatility and Market Acceptance One of the challenges of accepting cryptocurrency is its volatility. However, since Pi is still in its early stages and not yet traded on major exchanges, its value is relatively stable. Small businesses can mitigate the risk of future volatility by regularly converting it into other currencies or holding onto it as an investment, depending on their risk tolerance. Navigating the Regulatory Landscape The regulatory environment surrounding cryptocurrencies is still evolving. Small businesses must stay informed about local regulations and ensure they are compliant when accepting this currency. This might involve keeping detailed records of transactions and being prepared to report earnings from cryptocurrency as part of their taxable income. Other Ways Businesses Can Leverage Pi Beyond accepting this payment method, there are additional ways small businesses can utilize this cryptocurrency to their advantage: Loyalty Programs Small businesses can create loyalty programs that reward customers with Pi. For example, customers could earn tokens for repeat purchases or referrals. This not only incentivizes customer retention but also introduces more people to the ecosystem. Crowdfunding and Investment Businesses looking to expand or fund new projects can consider accepting Pi as part of a crowdfunding campaign. By allowing supporters to contribute in Pi, businesses can tap into a global community of users who may be interested in supporting innovative projects. Is Pi Right for Your Small Business? Incorporating Pi cryptocurrency into your small business strategy can open doors to new opportunities and help you stay ahead of the curve. While there are challenges to consider, the potential benefits make it a compelling option for small business owners looking to innovate. Take the time to understand and integrate it into your operations, as this may help you position your business for success in a rapidly changing financial landscape.

2024-10-09 09:22:03

Elon Musk reveals his thoughts on what he believes is behind the UFO sightings in the US

SpaceX CEO Elon Musk believes that the alleged UFOs seen zipping around the United States are not extraterrestrial life but are more likely the US government’s “new weapons programs” that are highly classified. Musk, 53, revealed that he has “not seen any evidence of aliens” while in charge of his Space Exploration Technologies company during an interview with Tucker Carlson on Monday. “There’s a lot we don’t know,” Musk admitted about the existence of humanity and the universe. “Where did we come from? Where are the aliens?” The billionaire said there are over “6,000 satellites” in orbit and yet have “not once had to maneuver around an alien spacecraft.” SpaceX has over 6,300 active Starlink satellites in low-Earth orbit as of Sept. 2024, according to the non-profit satellite tracker CelesTrak. Carlson, 55, then asked why there are reports on Earth about the US military having to do “a lot of maneuvering around objects they can’t explain.” “Well, unidentified flying objects are one thing, but there are always a bunch of classified programs that are underway,” Musk shared. The tech mogul claims that the government is likely regularly testing out “new aircraft, new missiles, and things” that are classified at such a high level that even those high up in the chain of command in the US military may not be aware are being tested. “Some pilot sees something moving fast and says, ‘Hey, I saw a UFO!’” but it could be a new weapons program that is being experimented on a need-to-know basis. Musk, however, “guaranteed” that he would not keep that information from the public if he found any evidence of aliens. “The split second I see any evidence of aliens, I will immediately post that on the X platform,” he said. “It will probably be our number one post of all time.” In 2023, Musk said that he hoped the little green men were real and, more importantly, friendly, but he didn’t believe the government was hiding the existence of extraterrestrial beings from the public. He argued that the government would villainize aliens if it knew of their existence to easily green-light military spending. While no recent alien sightings by service members were confirmed to be extraterrestrial life in the government report from 2023, Congress is requiring the Pentagon to look into its UFO files dating back to the end of World War II. The Office of the Director of National Intelligence reviewed 366 newly identified military sightings of “unidentified aerial phenomena” – Pentagon jargon for UFOs. Of those, 26 were found to be drones, 163 were “balloon or balloon-like entities,” and six were “attributed to clutter” in the air. Last fall, the Pentagon launched a new portal where current and former service members, government employees, and contractors can report UFO sightings. The Pentagon investigated nearly 300 UFO sightings between April 31, 2022, and April 30, 2023. Some of these flying objects exhibited “concerning performance characteristics,” including high-speed travel and “unusual maneuverability,” according to the report. However, the report stated that “none of these UAP reports have been positively attributed to foreign activities.” Last month, New York Sen. Kirsten Gillibrand said that Congress will soon receive an update from the Pentagon on UFOs. Gillibrand, who chairs the United States Senate Armed Services Subcommittee on Emerging Threats and Capabilities, said the session is “a priority for me.” The New York senator wants a “progress report on how many unidentified aerial phenomena we assessed and analyzed.” The Department of Defense’s All-Domain Anomaly Resolution Office investigates UFOs and recently appointed Jon Kosloski, a National Security official with a background in quantum optics and crypto-mathematics, to head it. Gillibrand indicated she expected Kosloski to testify at the hearing, likely after the Nov. 5 election.

2024-10-09 09:00:01

Wealth Catalyst AI Review 2024: Scam Analysis by Crypto Traders Experts!

Wealth Catalyst AI is an innovative automated trading system tailored for traders eager to harness advanced technologies, such as artificial intelligence, to create a smoother and more profitable trading journey. Since its debut, it has attracted considerable attention in trading communities, claiming to help individuals with diverse backgrounds and experience levels uncover the best trading opportunities. The main reason our team of experts chose to explore Wealth Catalyst AI and write a review on this trading platform is the buzz it has generated online. Numerous Wealth Catalyst AI reviews and articles suggest that this trading system could help traders revamp their overall strategies and provide the necessary support they seek. After examining these reviews, we began to feel that Wealth Catalyst AI could indeed be a legitimate trading platform. However, it’s essential to evaluate its features and factors before deciding to use it as your trading partner. This Wealth Catalyst AI review is aimed at those interested in learning everything about the platform—how it operates, how to get started, its features, and more. So, get ready to dive into the details! Wealth Catalyst AI – Highlights What Is Wealth Catalyst AI? Wealth Catalyst AI is designed to simplify the trading process by helping you make informed decisions and spot the best trading opportunities. This platform combines advanced technologies to provide you with historical market data, real-time analysis of crypto market activities, and effective charting tools. Together, these features can assist traders in achieving profitable outcomes while reducing the risks associated with crypto trading. This system caters to traders of all experience levels, including those who are just starting. Wealth Catalyst AI features a user-friendly website that makes it accessible even for individuals who are not familiar with trading platforms or bots. Additionally, it enables users to trade multiple assets simultaneously and easily monitor all their trading activities, ensuring a hassle-free trading experience. Is Wealth Catalyst AI a Scam? Now, let’s assess the legitimacy of the Wealth Catalyst AI trading platform. Several factors contribute to determining the authenticity of a trading platform, including the technologies, tools, and features it offers, the safety measures in place, partnerships with brokers, and the options available for deposits and withdrawals. Wealth Catalyst AI employs advanced technologies, algorithms, and tools to enhance the trading experience. It adheres to strict safety protocols and uses encryption to safeguard user data and activities. Additionally, the platform collaborates with reputable brokerage services to manage the trading processes for users. It offers a variety of payment options to ensure smooth deposits and withdrawals, and there are no hidden fees for account registration, maintenance, or transactions. The only upfront cost is the initial investment of $250. The system also boasts a high success rate, with positive customer reviews to date. Based on these aspects, Wealth Catalyst AI appears to be a legitimate trading software that is worth considering. Register With Wealth Catalyst AI Platform A person who is interested in trading with Wealth Catalyst AI can start on the official website of the trading system. You can complete the registration process for creating an account and then finish a few steps for trading with the bot. Here are the details of the steps that need to be completed for trading with Wealth Catalyst AI: Step 1 – Creating an account: Before you start trading with Wealth Catalyst AI, you will have to register an account with the trading platform. For this, you need to fill out the registration form available on the official website of Wealth Catalyst AI. In this form, fill in your full name, email ID, and contact number. Then choose the country that you are presently living in and agree to the terms and conditions to create an account. Step 2 – Making initial deposit: Once your account has been created on the official website of Wealth Catalyst AI, the second step of using the trading platform is to deposit the minimum amount required as capital. As already mentioned, the minimum amount needed in your account to trade with Wealth Catalyst AI is $250. People who are confident in their trading skills may start with a larger amount of capital if interested. Keep in mind that the capital that you deposited will not be used until you start trading. Step 3 – Real-time trading: Once you have deposited capital into your Wealth Catalyst AI trading account, you can then start trading with it. When trading, the customers of the trading system are provided with the option to customize the level of assistance that they require. A new trader can configure automated trading and an experienced trader can customize it according to their skill in trading. Then you can kickstart your trading journey and earn profits quite quickly with Wealth Catalyst AI. How Does Wealth Catalyst AI Work? Let’s address the most common question that people have about Wealth Catalyst AI which is how it works. Understanding how a trading platform works will give you a better idea of how it will function to meet your trading needs. Wealth Catalyst AI is made using technologies that are advanced such as AI which delivers you with all the technical assistance needed for trading. These technologies give you historical data on the crypto trading market, provide you with charting tools, analyze the market trends for you, predict the value of cryptocurrencies, and identify the best trading opportunities. When you are provided with all this information, you will be able to make smart trading decisions based on reliable data which increases your possibility of attaining profits. The trading system also manages each of your trading transactions as it has a portfolio management system and this also supports multiple cryptocurrency trading at the same time. What Assets And Cryptocurrencies Can Be Traded On Wealth Catalyst AI? When it comes to trading platforms, a main concern that people have is whether they will be able to trade multiple cryptocurrencies through the trading bot. Even though many trading systems available on the internet do not support multiple trading, this isn’t the case with Wealth Catalyst AI. This trading system allows you to trade almost all legal cryptocurrencies including major ones such as Bitcoin, Ethereum, Lithium, and so on. Here is a list of a few of the major cryptocurrencies that you can trade with Wealth Catalyst AI: Bitcoin Cash Binance coin Binance coin Wealth Catalyst AI – Cost And Minimum Deposit Wealth Catalyst AI is a trading platform that unlike other trading platforms in the market does not charge you with anything for using it for trading purposes. You can create an account on the website of Wealth Catalyst AI and then start trading by using all the assistance that the system provides you without paying any fees. However, the trading platform requires you to deposit a minimum amount of $250 as capital to start trading with it. This capital will be used for your trading needs only and the trading platform will not charge you anything for the capital that you deposit. Traders can deposit their capital into the Wealth Catalyst AI account through various payment methods such as PayPal, bank transfer, debit/credit card, and so on. Depositing and withdrawing money from Wealth Catalyst AI is quite simple and can be completed quickly without any hassles. Does Wealth Catalyst AI Work For New And Experienced Traders? A main concern that people have before choosing a trading platform for their trading needs is whether it works for both new and experienced traders. Some trading platforms require you to have some experience in trading needs for you to use it efficiently. However, Wealth Catalyst AI is designed to accommodate the needs of traders of all levels of experience which includes people who have zero experience in crypto trading or with trading platforms. The trading system allows new traders to opt for automated trading where Wealth Catalyst AI will be the one that will be doing all the trading work for you. The only thing that the new trader has to do is to log into their trading account and monitor the trading transactions if needed. The case of experienced traders, they have the option to customize the trading assistance that they require based on their level of experience in crypto trading. Features Of Wealth Catalyst AI Wealth Catalyst AI has a set of unique features that contribute to its efficacy in satisfying the needs of all traders. Some of the features of the trading platform are discussed below: Innovative Technologies When we take the features of Wealth Catalyst AI into account, the most important one is the technologies that have been integrated while developing the trading platform. These technologies provide the users of the trading platform with all the assistance that they need which includes providing charting tools, portfolio management, real-time analysis of the trading market, and so much more. All of the assistance provided by Wealth Catalyst AI’s innovative technologies can assist a person in finding the trading opportunities that work the best for them. Safety And Security The safety and security of Wealth Catalyst AI is another prime feature of the trading platform. As you might all know, crypto trading has numerous safety issues associated with it and the trader needs to have a trading experience that is completely safe and secure. Wealth Catalyst AI has a wide range of safety and security features integrated into it which ensures that you get to trade without worrying about anything. Along with this, Wealth Catalyst AI also protects your privacy and ensures that all your trading transaction data are stored securely. Assistance Customization As mentioned before, Wealth Catalyst AI is a trading platform that is suitable for both new and experienced traders and this is possible because of the assistance customization feature of the trading platform. The trading platform allows users to configure the assistance that they require from the trading platform based on their experience in trading and their trading goals. Therefore, a new trader can customize this assistance to be fully automated whereas an experienced trader can customize it according to their skill and experience in crypto trading. User-friendliness Wealth Catalyst AI has a user-friendly interface making it quite easy to use. The trading system has all things on its official website only and you can use it without any kinds of hassles. You can register an account on Wealth Catalyst AI by filling out the registration form available on the official website, you can log into your account anytime you want, and also see all your trading transactions on the trading platform’s official website. Wealth Catalyst AI – Payment Options Using Wealth Catalyst AI involves depositing money and withdrawing profits from the trading system. The trading system allows you to deposit money and withdraw your profits anytime that you want. To make things easier for you, the official website of Wealth Catalyst AI has a wide range of payment options for you to deposit and withdraw money. Some of them include PayPal, debit/credit cards, and bank wire transfers. Wealth Catalyst AI – Customer Support Team Wealth Catalyst AI has a customer support team that consists of experts who are proficient in resolving all technical hiccups that you might be encountering. The users of the trading platform have shared that the customer support team of the trading platform was quite helpful when they were faced with a technical issue that they needed expert assistance and was able to resolve the issues within a short span. This shows that the team of Wealth Catalyst AI is going to lengths to ensure that you have a comfortable and hassle-free trading experience with the trading platform. Wealth Catalyst AI – Pros And Cons In this Wealth Catalyst AI, we have looked at various aspects of the trading platform, and here is what we found to be the pros and cons of the trading platform. Pros of Wealth Catalyst AI Wealth Catalyst AI is a safe trading platform It can be used by both new and experienced traders The minimum deposit needed is only $250 Wealth Catalyst AI is free for everyone to use The registration process is quite easy and simple Wealth Catalyst AI gives you all the trading assistance needed The trading platform supports the trading of multiple currencies Wealth Catalyst AI supports assistance customization Cons Of Wealth Catalyst AI At present, Wealth Catalyst AI isn’t supported for use in the United States Wealth Catalyst AI Review – Final Verdict Based on our thorough research and analysis of the available information, it is clear that Wealth Catalyst AI is a legitimate trading platform. This system utilizes advanced technologies to enhance your trading experience, offering charting tools, real-time market analysis, and historical cryptocurrency data. These features can help you make more informed trading decisions while also reducing the risks of losing money. Our findings indicate that Wealth Catalyst AI is user-friendly and suitable for anyone looking to make profitable trades. The first step is to register an account and begin trading in real-time. Feedback from traders and investors has been largely positive, reinforcing the view that Wealth Catalyst AI is a safe and effective choice for successful crypto trading. Our crypto experts have rated it 4.4 out of 5, indicating strong credibility. To get started with Wealth Catalyst AI, simply create an account on their official website and make a minimum deposit of $250. Any profits you generate are yours to keep, and you can withdraw them whenever you wish. Overall, considering all the features and factors of Wealth Catalyst AI, it seems like a worthwhile platform to explore. Wealth Catalyst AI FAQs Does Wealth Catalyst AI support different cryptocurrencies? Yes. Wealth Catalyst AI supports a wide variety of cryptocurrencies. Additionally, the system also allows trading of other assets like stocks, forex, and so on. Can all people trade crypto and other assets on Wealth Catalyst AI? All people above the age of 18 can explore and trade different assets through the Wealth Catalyst AI trading system. What are the verification documents required for trading on Wealth Catalyst AI? The verification process is the second step involved in opening a trading account on Wealth Catalyst AI. The documents required include proof of identity, PAN card, proof of address, and more. What if Wealth Catalyst AI doesn’t support profitable trading? In case Wealth Catalyst AI doesn’t help trade the way you want and make profits, you can withdraw your funds at any time. Is there an extra fee for trading on the Wealth Catalyst AI software? Wealth Catalyst AI is a free crypto trading platform that charges no additional fee from buyers and sellers. The only payment required is a minimum deposit of $250 which is the initial capital to be invested to enter real-time trading.

2024-10-09 08:26:26

SHIB Whale sells $10 mil worth of SHIB from old wallet to buy XRP & new underrated Crypto worth $0.08

Shiba Inu (SHIB) is eyeing a potential opportunity this month, while a SHIB investor has sold over $10 million tokens to buy Ripple (XRP) and DTX Exchange (DTX) tokens, eyeing maximum gains and benefits. Meanwhile, DTX Exchange (DTX) prepares to go viral with a grand $0.20 listing after its successful listing on CoinMarketCap made headlines. Shiba Inu (SHIB) Anticipates a Bull Run In October Shiba Inu (SHIB) has recently made waves in the market towards the end of last September. Following this sentiment, Shiba Inu (SHIB) reached a three-month high, with a whopping $12.5 billion market cap. Based on the Shiba Inu (SHIB) performance readings, analysts are expecting that October will offer additional gains to the Shiba Inu (SHIB) network. The price prediction, however, did not turn out as anticipated by Shiba Inu (SHIB) analysts. Surprisingly, Shiba Inu (SHIB) was among the worst-affected assets, dropping to a $0.000015 local low on October 3. From then on, Shiba Inu (SHIB) has recovered some losses and is currently trading at $0.000020 based on data from CoinGecko. Irrespective of the fluctuating performance indicators, some analysts are still optimistic about the Shiba Inu (SHIB) network. They think that Shiba Inu (SHIB) will enter a bull run mode in the upcoming weeks. A popular X user Crypto Sheriff also supports the similar outcome for Shiba Inu (SHIB). The user further added to his post, stating that “the rise will accelerate” soon. Ripple (XRP) Gains Momentum With Ripple Fund Injection The Ripple (XRP) network has surged nearly 2% since October 8, followed by a recent $300K capital into XRP-based funds. This sudden surge is following the similar token unlock from October 1, which has sparked hype among investors. Ripple (XRP) is trading at $0.52 with a 2.6% decline in the last 24 hours and a 24-hour trading volume of $1.01 billion. Ripple (XRP) is trading above the $0.52 key support level, while traders are closely monitoring the ongoing SEC appeal against Ripple (XRP). Traders are after Ripple (XRP) network’s matter with SEC appeal as these legal factors significantly contribute towards the future outcome of the Ripple (XRP), especially for those who have injected millions into the network. Based on data from CoinShares, Ripple (XRP) based funds have received a sizable capital surge. As of last week, these funds attracted $300K, which points toward a strong demand from investors. In comparison, established projects like Bitcoin (BTC) and Ethereum (ETH) have faced negative trends, experiencing up to $159 million and $28.9 million outflows, respectively. SHIB Whales Flock To This Mind-Blowing AI-Crypto For 25x Gains DTX Exchange (DTX) catches fire as its booming presale scores millions in the constantly evolving crypto market. Following its increasing demand among investors and memecoin lovers, Shiba Inu (SHIB) has experienced a massive outflow, followed by those investors joining the DTX Exchange (DTX) platform for higher gains and lucrative opportunities. DTX Exchange (DTX) incorporates high-end trading features to help traders land big chunks of profits with minimum capital. The platform makes this possible through mind-blowing leverage offerings with up to 1,000x leverage for each user. Such trading tools make DTX Exchange (DTX) stand out in the competitive market with mind-blowing features and benefits. Ripple (XRP) Loses Traction As DTX Exchange Eyes $0.2 Listing While Ripple (XRP) is eyeing a potential breakout in the near term, DTX Exchange (DTX) is poised to steal the spotlight with its hybrid model in the market. Next, this deFi platform is eyeing a grand $0.20 listing in one of the prestigious crypto platforms following the highly bullish presale, which has raised millions in a matter of weeks. As more and more investors flock to this successful presale rally, DTX Exchange (DTX) prepares to smash all previous presale records with its increasing demand in the volatile crypto market. Did you know? DTX Exchange is celebrating its groundbreaking success with a 25% bonus. Sign Up now using the “DTX25” promo code to claim your bonus. Happy trading! Learn more: DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more

2024-10-09 08:25:59

Elon Musk reveals his thoughts on what he believes is behind the UFO sightings in the US

SpaceX CEO Elon Musk believes that the alleged UFOs seen zipping around the United States are not extraterrestrial life but are more likely the US government’s “new weapons programs” that are highly classified. Musk, 53, revealed that he has “not seen any evidence of aliens” while in charge of his Space Exploration Technologies company during an interview with Tucker Carlson on Monday. “There’s a lot we don’t know,” Musk admitted about the existence of humanity and the universe. “Where did we come from? Where are the aliens?” The billionaire said there are over “6,000 satellites” in orbit and yet have “not once had to maneuver around an alien spacecraft.” SpaceX has over 6,300 active Starlink satellites in low-Earth orbit as of Sept. 2024, according to the non-profit satellite tracker CelesTrak. Carlson, 55, then asked why there are reports on Earth about the US military having to do “a lot of maneuvering around objects they can’t explain.” “Well, unidentified flying objects are one thing, but there are always a bunch of classified programs that are underway,” Musk shared. The tech mogul claims that the government is likely regularly testing out “new aircraft, new missiles, and things” that are classified at such a high level that even those high up in the chain of command in the US military may not be aware are being tested. “Some pilot sees something moving fast and says, ‘Hey, I saw a UFO!'” but it could be a new weapons program that is being experimented on a need-to-know basis. Musk, however, “guaranteed” that he would not keep that information from the public if he found any evidence of aliens. “The split second I see any evidence of aliens, I will immediately post that on the X platform,” he said. “It will probably be our number one post of all time.” In 2023, Musk said that he hoped the little green men were real and, more importantly, friendly, but he didn’t believe the government was hiding the existence of extraterrestrial beings from the public. He argued that the government would villainize aliens if it knew of their existence to easily green-light military spending. While no recent alien sightings by service members were confirmed to be extraterrestrial life in the government report from 2023, Congress is requiring the Pentagon to look into its UFO files dating back to the end of World War II. The Office of the Director of National Intelligence reviewed 366 newly identified military sightings of “unidentified aerial phenomena” – Pentagon jargon for UFOs. Of those, 26 were found to be drones, 163 were “balloon or balloon-like entities,” and six were “attributed to clutter” in the air. Last fall, the Pentagon launched a new portal where current and former service members, government employees, and contractors can report UFO sightings. The Pentagon investigated nearly 300 UFO sightings between April 31, 2022, and April 30, 2023. Some of these flying objects exhibited “concerning performance characteristics,” including high-speed travel and “unusual maneuverability,” according to the report. However, the report stated that “none of these UAP reports have been positively attributed to foreign activities.” Last month, New York Sen. Kirsten Gillibrand said that Congress will soon receive an update from the Pentagon on UFOs. Gillibrand, who chairs the United States Senate Armed Services Subcommittee on Emerging Threats and Capabilities, said the session is “a priority for me.” The New York senator wants a “progress report on how many unidentified aerial phenomena we assessed and analyzed.” The Department of Defense’s All-Domain Anomaly Resolution Office investigates UFOs and recently appointed Jon Kosloski, a National Security official with a background in quantum optics and crypto-mathematics, to head it. Gillibrand indicated she expected Kosloski to testify at the hearing, likely after the Nov. 5 election.

2024-10-09 07:59:08

Cryptoverse: Bored bitcoin seeks direction after big bang

Bitcoin has been distinctly listless in the past three months after starting the year with a bang. The crypto leader has largely shuttled between $56,000 and $63,000 so far in the second half of the year – a contrast to the first six months when it jumped 45 per cent, propelled by the launch of U.S. exchange-traded funds (ETFs) tracking its spot price. Market players are now eyeing possible new crypto catalysts heading into year-end and early 2025, beyond broader market-moving events such as shifts in U.S. interest rates and the American presidential election. Jake Ostrovskis, trader at UK-based crypto firm Wintermute, is anticipating the upcoming launch of options on BlackRock’s spot bitcoin ETF, a new product he believes could attract more U.S. retail money after its approval by the Securities and Exchange Commission last month. Because regulators view bitcoin as a commodity, though, such options may also need the green light from the Commodity Futures Trading Commission, which oversees commodity derivatives, said Youwei Yang, chief economist at BIT Mining . “If successful … (ETF options) could increase bitcoin’s market sophistication and volatility, driving greater institutional and retail engagement,” Yang added. It’s been quite a run for crypto as the anticipation and approval of U.S. ETFs helped drive bitcoin activity globally. The total size of the cryptocurrency market has ballooned to $2.2 trillion as of Oct. 1 this year, from $8.3 billion at the start of 2023, according to CoinGecko data. “We’ve observed a significant increase in institutional on-boarding and trading activity,” this year said Ostrovskis, adding there was a strong demand for platforms and services for digital assets that resemble traditional financial structures. Notoriously wild bitcoin’s 90-day volatility has fallen to 42 per cent this year from 67 per cent in mid-2020, according to Deutsche Bank data. Market watchers cautioned that bitcoin still showed a strong correlation to other cryptocurrencies and was likely to be among the first assets dumped by investors retreating from uncertainty and risk; bitcoin slumped 5% on a new spike in hostilities in the Middle East last week, for example. BIGGEST CRYPTO COUNTRIES? Chainalysis’ Global Adoption index, which tracks crypto use in 151 countries with measures including trading and payments, surpassed the 2021 crypto bull market between the fourth quarter of 2023 and the first quarter of 2024. Crypto adoption is particularly strong in lower-income countries which often have less developed and accessible mainstream financial systems, the report showed. India took top spot, followed by Nigeria in Chainalysis’ rankings, while seven of the other top 20 countries were Asian emerging markets including Indonesia, Vietnam and the Philippines. Crypto fans often point to uses in countries with high inflation and rapid currency depreciation – such as Turkey and Argentina – as evidence of digital money’s real world use. Chainalysis also noted a significant increase in decentralized finance (DeFi) and stablecoin activity in Sub-Saharan Africa, Latin America, and Eastern Europe. “The value proposition for bitcoin and stablecoins in Latin America are intact,” said Mauricio Di Bartolomeo, co-founder of crypto loan provider Ledn. “Most of the emerging world wants to bank in dollars, but they don’t necessarily trust their banks.” The United States ranked fourth overall on the adoption ranking, while South Korea and China were 19th and 20th, respectively. In terms of crypto transaction volumes, the U.S. is the world’s biggest market followed by India, according to Deutsche Bank.

2024-10-09 07:30:00

Off The Grid: Crypto-Backed ‘Extraction Royale’ Joins Forces With The World’s Biggest Creators

In the last couple of days, you might have seen some of the biggest streamers on Earth jumping into an ‘extraction royale’ named Off the Grid. At first blush, Off the Grid is reminiscent of Fortnite, but it’s set in a cyberpunk-themed world and leans more into a realistic aesthetic than Epic Games’ legendary battle royale. To give a little context, Off the Grid is an all-new extraction royale that’s financially backed by crypto and exists on the blockchain, given that there’s a peer-to-peer trading platform in place that operates similarly to an NFT ecosystem. Becoming Prolific Recently, creators like Ninja, TimTheTatman, and Scump have jumped onto Off the Grid with their respective streaming partners, exploring everything this next-generation extraction royale offers. It’s a combination of the typical extraction shooter and battle royale model. In each match, 150 players land on one of many maps intent on being the last player or team alive. As they explore the map, they’ll pick up ‘Cyberlimbs’ to enhance and augment their character, while taking advantage of a whopping 300+ weapon combinations that they’ll use to take down the world around them. It’s available in early access on PlayStation 5, Xbox Series XS, and PC, and despite being on the cards for at least a couple of years, it has flown relatively low under the radar. It’s only now that this marketing campaign has started that Off the Grid is gaining mainstream attention. It’s an ambitious project, that’s for sure. It’s backed by Neill Blomkamp, the visionary director and screenwriter, and it has an intriguing origin story that runs in the background of the game. In the last year or two, the developer, Gunzilla Games, has been bolstered by almost $100 million of investments from various crypto and blockchain-based firms, thanks to the game’s focus in that area. Despite that connection, which might make some gamers a little wary, the team has stressed that these elements are optional: Gunzilla assures gamers that they will never sell NFTs directly to their player community, nor will they hide progression or any game features behind a monetized paywall, the trading is entirely optional. Gunzilla believes that the GUNZ platform has the potential to radically change the core gaming experience for players, and those not interested in trading are able to completely skip this feature and simply enjoy the full game for free without any limitations. On the surface, Off the Grid looks like an impressive shooter with some innovative elements that could do really well in the gaming world. It has started off strong with a solid marketing campaign, and it has already forged partnerships with some of the biggest names in the streaming world, which is pivotal to the success of any game. Are you going to give Off the Grid a try? Let us know on the Insider Gaming forum. For more Insider Gaming coverage, check out the news about YouTube Gaming’s viewership drop

2024-10-09 07:26:24

Immediate Zenar Review: AI-Driven Analysis by Crypto Traders’ Verdict 2024!

Immediate Zenar is an automated trading system designed for traders looking to leverage advanced technologies like AI to enhance their trading experience and profitability. Since its launch, this platform has generated significant interest in trading circles, with claims that it can assist traders of all experience levels in identifying the best trading opportunities. Many trading experts decided to explore the different aspects of Immediate Zenar and write a review due to the significant buzz surrounding it online. Numerous reviews and articles suggest that this trading system could help traders transform their overall strategies while providing essential support. Given these insights, we began to think that Immediate Zenar might be a legitimate trading platform. However, it’s important to evaluate all its features and factors before choosing it as your trading partner. This Immediate Zenar review is aimed at those curious about the platform, including how it operates, how to get started, and what features it offers. So, get ready to dive into the details! Immediate Zenar – Highlights What Is Immediate Zenar? Immediate Zenar is a trading platform designed to simplify the trading process by assisting you in making informed decisions and identifying the best opportunities. It combines advanced technologies to provide historical market data, real-time analysis of the crypto market, and effective charting tools. Together, these features aim to help traders maximize their profits while minimizing the risks associated with crypto trading. The platform caters to traders of all experience levels, including beginners. Immediate Zenar features a user-friendly website, making it accessible even for those unfamiliar with trading platforms and bots. Users can trade multiple assets simultaneously and easily track all their trading activities, ensuring a hassle-free experience. Is Immediate Zenar a Scam? Let’s take a closer look at the legitimacy of the Immediate Zenar trading platform. There are several factors to consider when assessing the authenticity of a trading platform, including the technologies, tools, and features it offers, safety measures implemented, partnerships with brokers, payment options, and any associated fees. Immediate Zenar utilizes advanced technologies, algorithms, and various tools designed to enhance the trading experience. The platform adheres to strict safety protocols and uses encryption technology to safeguard user data and activities. Additionally, it has partnered with reputable brokerage services to manage the trading processes for users effectively. The platform offers multiple payment options, ensuring smooth deposits and withdrawals without hassle. Importantly, there are no extra charges for account registration, maintenance, or transactions. The only requirement is an initial capital of just $250. With a high success rate and positive customer reviews, Immediate Zenar appears to be a legitimate trading software that is worth exploring. Immediate Zenar – Register A person who is interested in trading with Immediate Zenar can start on the official website of the trading system. You can complete the registration process for creating an account and then finish a few steps for trading with the bot. Here are the details of the steps that need to be completed for trading with Immediate Zenar: Step 1 – Creating an account: Before you start trading with Immediate Zenar, you will have to register an account with the trading platform. For this, you need to fill out the registration form available on the official website of Immediate Zenar. In this form, fill in your full name, email ID, and contact number. Then choose the country that you are presently living in and agree to the terms and conditions to create an account. Step 2 – Making initial deposit: Once your account has been created on the official website of Immediate Zenar, the second step of using the trading platform is to deposit the minimum amount required as capital. As already mentioned, the minimum amount needed in your account to trade with Immediate Zenar is $250. People who are confident in their trading skills may start with a larger amount of capital if interested. Keep in mind that the capital that you deposited will not be used until you start trading. Step 3 – Real-time trading: Once you have deposited capital into your Immediate Zenar trading account, you can then start trading with it. When trading, the customers of the trading system are provided with the option to customize the level of assistance that they require. A new trader can configure automated trading and an experienced trader can customize it according to their skill in trading. Then you can kickstart your trading journey and earn profits quite quickly with Immediate Zenar. How Does Immediate Zenar Work? Let’s address the most common question that people have about Immediate Zenar which is how it works. Understanding how a trading platform works will give you a better idea of how it will function to meet your trading needs. Immediate Zenar is made using technologies that are advanced such as AI which delivers you with all the technical assistance needed for trading. These technologies give you historical data on the crypto trading market, provide you with charting tools, analyze the market trends for you, predict the value of cryptocurrencies, and identify the best trading opportunities. When you are provided with all this information, you will be able to make smart trading decisions based on reliable data which increases your possibility of attaining profits. The trading system also manages each of your trading transactions as it has a portfolio management system and this also supports multiple cryptocurrency trading at the same time. What Assets And Cryptocurrencies Can Be Traded On Immediate Zenar? When it comes to trading platforms, a main concern that people have is whether they will be able to trade multiple cryptocurrencies through the trading bot. Even though many trading systems available on the internet do not support multiple trading, this isn’t the case with Immediate Zenar. This trading system allows you to trade almost all legal cryptocurrencies including major ones such as Bitcoin, Ethereum, Lithium, and so on. Here is a list of a few of the major cryptocurrencies that you can trade with Immediate Zenar: Bitcoin Cash Binance coin Binance coin Immediate Zenar – Cost And Minimum Deposit Immediate Zenar is a trading platform that unlike other trading platforms in the market does not charge you with anything for using it for trading purposes. You can create an account on the website of Immediate Zenar and then start trading by using all the assistance that the system provides you without paying any fees. However, the trading platform requires you to deposit a minimum amount of $250 as capital to start trading with it. This capital will be used for your trading needs only and the trading platform will not charge you anything for the capital that you deposit. Traders can deposit their capital into the Immediate Zenar account through various payment methods such as PayPal, bank transfer, debit/credit card, and so on. Depositing and withdrawing money from Immediate Zenar is quite simple and can be completed quickly without any hassles. Does Immediate Zenar Work For New And Experienced Traders? A main concern that people have before choosing a trading platform for their trading needs is whether it works for both new and experienced traders. Some trading platforms require you to have some experience in trading needs for you to use it efficiently. However, Immediate Zenar is designed to accommodate the needs of traders of all levels of experience which includes people who have zero experience in crypto trading or with trading platforms. The trading system allows new traders to opt for automated trading where Immediate Zenar will be the one that will be doing all the trading work for you. The only thing that the new trader has to do is to log into their trading account and monitor the trading transactions if needed. The case of experienced traders, they have the option to customize the trading assistance that they require based on their level of experience in crypto trading. Features Of Immediate Zenar Immediate Zenar has a set of unique features that contribute to its efficacy in satisfying the needs of all traders. Some of the features of the trading platform are discussed below: Innovative Technologies When we take the features of Immediate Zenar into account, the most important one is the technologies that have been integrated while developing the trading platform. These technologies provide the users of the trading platform with all the assistance that they need which includes providing charting tools, portfolio management, real-time analysis of the trading market, and so much more. All of the assistance provided by Immediate Zenar’s innovative technologies can assist a person in finding the trading opportunities that work the best for them. Safety And Security The safety and security of Immediate Zenar is another prime feature of the trading platform. As you might all know, crypto trading has numerous safety issues associated with it and the trader needs to have a trading experience that is completely safe and secure. Immediate Zenar has a wide range of safety and security features integrated into it which ensures that you get to trade without worrying about anything. Along with this, Immediate Zenar also protects your privacy and ensures that all your trading transaction data are stored securely. Assistance Customization As mentioned before, Immediate Zenar is a trading platform that is suitable for both new and experienced traders and this is possible because of the assistance customization feature of the trading platform. The trading platform allows users to configure the assistance that they require from the trading platform based on their experience in trading and their trading goals. Therefore, a new trader can customize this assistance to be fully automated whereas an experienced trader can customize it according to their skill and experience in crypto trading. User-friendliness Immediate Zenar has a user-friendly interface making it quite easy to use. The trading system has all things on its official website only and you can use it without any kinds of hassles. You can register an account on Immediate Zenar by filling out the registration form available on the official website, you can log into your account anytime you want, and also see all your trading transactions on the trading platform’s official website. Immediate Zenar – Payment Options Using Immediate Zenar involves depositing money and withdrawing profits from the trading system. The trading system allows you to deposit money and withdraw your profits anytime that you want. To make things easier for you, the official website of Immediate Zenar has a wide range of payment options for you to deposit and withdraw money. Some of them include PayPal, debit/credit cards, and bank wire transfers. Immediate Zenar – Customer Support Team Immediate Zenar has a customer support team that consists of experts who are proficient in resolving all technical hiccups that you might be encountering. The users of the trading platform have shared that the customer support team of the trading platform was quite helpful when they were faced with a technical issue that they needed expert assistance and was able to resolve the issues within a short span. This shows that the team of Immediate Zenar is going to lengths to ensure that you have a comfortable and hassle-free trading experience with the trading platform. Immediate Zenar – Pros And Cons In this Immediate Zenar, we have looked at various aspects of the trading platform, and here is what we found to be the pros and cons of the trading platform. Pros of Immediate Zenar Immediate Zenar is a safe trading platform It can be used by both new and experienced traders The minimum deposit needed is only $250 Immediate Zenar is free for everyone to use The registration process is quite easy and simple Immediate Zenar gives you all the trading assistance needed The trading platform supports the trading of multiple currencies Immediate Zenar supports assistance customization Cons Of Immediate Zenar At present, Immediate Zenar isn’t supported for use in the United States Immediate Zenar Review – Final Verdict Based on our thorough research and analysis of all available information, it’s clear that Immediate Zenar is a legitimate trading platform. This system employs advanced technologies to enhance your trading experience by offering charting tools, real-time market analysis, and historical cryptocurrency data. The insights provided can help you make more informed trading decisions while also reducing the risks associated with trading. Our evaluation indicates that Immediate Zenar is user-friendly and accessible for anyone looking to make profitable trades. The first step is to register for an account to begin trading in real-time. Feedback from traders and investors has been overwhelmingly positive, suggesting that Immediate Zenar is a safe and efficient option for successful crypto trading. Our crypto experts have rated it 4.4 out of 5, reflecting the general consensus that this platform is worth considering for investment. To start trading with Immediate Zenar, simply create an account on the official website and make a minimum deposit of $250. All profits generated from trading are yours to keep, and you can withdraw them at any time. Considering all these features, Immediate Zenar appears to be a solid choice for anyone interested in crypto trading. Immediate Zenar FAQs Does Immediate Zenar support different cryptocurrencies? Yes. Immediate Zenar supports a wide variety of cryptocurrencies. Additionally, the system also allows trading of other assets like stocks, forex, and so on. Can all people trade crypto and other assets on Immediate Zenar? All people above the age of 18 can explore and trade different assets through the Immediate Zenar trading system. What are the verification documents required for trading on Immediate Zenar? The verification process is the second step involved in opening a trading account on Immediate Zenar. The documents required include proof of identity, PAN card, proof of address, and more. What if Immediate Zenar doesn’t support profitable trading? In case Immediate Zenar doesn’t help trade the way you want and make profits, you can withdraw your funds at any time. Is there an extra fee for trading on the Immediate Zenar software? Immediate Zenar is a free crypto trading platform that charges no additional fee from buyers and sellers. The only payment required is a minimum deposit of $250 which is the initial capital to be invested to enter real-time trading.

2024-10-09 07:22:12

BTC Trades Above $62,000 Despite Minor Dips, Gains Seen by ETH, DOGE, SHIB

The cryptocurrency market saw more losses than gains on Wednesday, October 9. Bitcoin experienced minor declines on both domestic and international exchanges over the past 24 hours. Despite these slight setbacks, the leading cryptocurrency has maintained its price above $62,000 (roughly Rs. 52.04 lakh) on global platforms. At the time of writing, Bitcoin was trading at $62,353 (around Rs. 52.3 lakh) on international exchanges, according to CoinMarketCap. Meanwhile, on India-based exchanges such as CoinSwitch and CoinDCX, BTC was priced higher, hovering around $63,917 (roughly Rs. 53.6 lakh). “Bitcoin is currently trading above $62,000 (roughly Rs. 52.04 lakh), primed to show bullish momentum as ‘Uptober' optimism grows despite volatility,” said Avinash Shekhar, Co-Founder and CEO, Pi42 as commenting on the market situation. Ether dropped in price by 1.75 percent in the last 24 hours. The asset is trading at $2,442 (roughly Rs. 2.04 lakh) on international exchanges. In India, on the other hand, ETH is valued at $2,515 (roughly Rs. 2.11 lakh), showed the crypto price tracker by Gadgets360.Crypto SIPs Could Gain Traction Among Young Investors: Cashaa Founder “Enthusiasm is building within the ETH community following the introduction of a new Ethereum Improvement Proposal (EIP-7781), designed to significantly enhance transaction speed and help decentralised exchanges (DEXs) save an estimated $100 million (roughly Rs. 839 crore). In the coming days, the price point of $2,400 (roughly Rs. 2,01 lakh) will act as a strong support zone for the asset,” ZebPay's Trade Desk told Gadgets360. USD Coin, Ripple, Cardano, Avalanche, and Polkadot recorded losses alongside BTC on Wednesday. Monero, Stellar, Cronos, and Cosmos also registered price dips.UAE Scraps Value Added Tax on Crypto Transactions, Binance Reacts The overall valuation of the crypto sector tumbled by 0.55 percent in the last 24 hours. With this, the sector's valuation has reached $2.17 trillion (roughly Rs. 1,82,15,945 crore) as per CoinMarketCap. “Sustained consolidation could allow altcoins to outperform Bitcoin in the short term,” predicted Vikram Subburaj, CEO, Giottus crypto exchange. Meanwhile Tether, Binance Coin, Solana, Dogecoin, and Shiba Inu reflected small profits on Wednesday alongside ETH. Polygon and EOS Coin also managed to hold onto gains despite the market volatility. “Memecoins, known for their volatility, saw a sell-off as traders cashed out after recent gains. Tokens like PEPE, Dogwifhat (WIF), and Popcat dropped around five percent, reflecting profit-taking,” the CoinSwitch Markets Desk told Gadgets360. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. Affiliate links may be automatically generated - see our ethics statement for details.

2024-10-09 07:19:31

FTX Creditors Emerge as Possible Fillip for Ailing Crypto Market - Bloomberg

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2024-10-09 06:56:00

The Reasons for Integrating Blockchain-Based Payments Into Your Website

The advent of digital wallets revolutionised the way corporations and individuals send and receive money electronically. Bitcoin further transformed payment processing by introducing a more secure and instantaneous technique. While cryptocurrencies are still in their early stages and have yet to entirely shift market preferences, many consumers continue to favour traditional payment methods. However, integrating blockchain payment processing tools has become more accessible than ever. Incorporating blockchain-based currencies for transactions can enhance your financial performance and drive growth. Let’s explore how. The Pluses of Paying with Digital Coins Cryptocurrencies, tokens, and stablecoins for purchasing goods and services are becoming increasingly widespread. These digital currencies leverage blockchain technology to verify the sender’s information and securely settle transactions in the recipient’s accounts. This functionality enables users to bypass traditional banking systems and fiat currencies. More customers are turning to cryptocurrencies to protect their identities, secure their financial information, and benefit from faster, safer monetary transactions. By integrating crypto payment gateways, you can meet these customer preferences, allowing them to connect their DeFi wallets and pay with BTC, ETH, USDT, and thousands of other digital currencies. Blockchain-based payment processing is automated, with transactions typically settling within seconds or a few minutes, depending on network traffic. Importantly, these transactions do not expose user data to third-party operators, enhancing privacy and security. Why Switch to Blockchain Payments Embracing cryptocurrency payments offers more than just a modern touch to your customer interactions; it also provides several notable advantages. Lower Costs Cryptocurrencies facilitate peer-to-peer transfers directly through the blockchain, bypassing the need for third-party intermediaries involved in data processing or currency exchanges. This streamlined approach helps to reduce additional fees typically associated with traditional bank transfers, which involve multiple intermediaries and higher overall costs due to fees charged by each party. Faster Transactions Cryptocurrency payments leverage advanced technologies such as smart contracts, consensus mechanisms, and network nodes to automate and expedite transactions. Although network congestion can occasionally cause delays – such as the Bitcoin blockchain experiencing delays of up to thirty minutes – the Ethereum blockchain generally offers faster transaction times, often settling within a minute or less. Additionally, sidechains and layer-2 networks can process transactions in just seconds, further enhancing transaction speed. Flexible Settlements With blockchain payment processing, businesses have greater control over how and where funds are settled. Crypto merchant services can manage blockchain transactions efficiently once they reach the destination wallet, providing flexibility in fund management. Enhanced User Privacy Cryptocurrency transactions offer superior privacy compared to traditional banking methods. Users can create decentralised finance (DeFi) wallets without disclosing personal, occupational, or financial information. The blockchain requires only the wallet address, cryptocurrency type, amount, and destination for processing transfers. In contrast, banks collect a range of personal and contact details, which can pose increased risks if such data is exposed or compromised. Global Reach Integrating cryptocurrency payments allows you to extend your reach and attract customers from different markets and regions without the complications of currency conversion or exchange rates. Cryptocurrency values are relatively consistent worldwide; for instance, if a customer from Brazil pays 1 ETH, your merchant account in the UAE will receive the equivalent amount, facilitating seamless international transactions. Industries Embracing Crypto Gateways Cryptocurrency payments are more and more prevalent across various industries, leveraging blockchain-based systems to streamline interactions and transactions. Here’s how different sectors are adopting crypto gateways: Online retailers and e-commerce platforms are integrating cryptocurrencies to cater to a global customer base. This adoption simplifies money transfers by minimising the impact of currency exchange rates and reducing conversion fees, making transactions more efficient for international customers. Brokerage platforms increasingly incorporate cryptocurrencies, offering investment opportunities in various digital coins and tokens. This integration enables faster deposits and withdrawals, attracting more customers and enhancing overall trading experiences. Gambling Sites The iGaming and online casino industry benefits significantly from blockchain technology, which supports faster and more flexible transactions. By adopting cryptocurrency payments, gambling platforms can offer improved transaction speed and convenience, aligning with global customer preferences. Exchange Platforms Decentralised exchanges play a crucial role in the blockchain ecosystem, facilitating crypto-to-fiat and crypto-to-crypto swaps. These platforms rely on blockchain processing to enable wallet integration and manage coin ownership without direct engagement with traditional financial markets. Concluding Thoughts Blockchain technology has emerged as a crucial component of the global payment sphere, bridging the gap between businesses and their customers with enhanced flexibility and convenience. Organisations are progressively adopting cryptocurrencies such as Bitcoin, Ethereum, and thousands of other digital assets to benefit from reduced costs, accelerated transaction speeds, and heightened customer security.

2024-10-09 06:54:25

Cryptography In Cryptocurrencies: How It Keeps Transactions Secure

Cryptocurrencies have revolutionized the way we think about money, transactions, and financial independence. At the heart of this innovation is cryptography, a complex but essential technology that ensures the security, privacy, and integrity of digital currencies like Bitcoin, Ethereum, and many others. Cryptography not only makes it possible to exchange assets safely but also guarantees that cryptocurrency systems remain decentralized, transparent, and immune to fraud. In this article, we will explore how cryptography functions in cryptocurrencies and why it is crucial for keeping transactions secure. What is Cryptography? Cryptography is the practice of securing information through complex mathematical techniques. It involves the use of algorithms to encrypt data, making it unintelligible to anyone except those authorized to access it. By converting information into a coded form (encryption) and ensuring only the intended recipient can decode it (decryption), cryptography keeps data safe from unauthorized access. In the world of cryptocurrencies, cryptography serves multiple roles, including the secure transmission of data, the validation of transactions, and the protection of digital assets. This technology underpins the entire cryptocurrency ecosystem especially in crypto casinos, ensuring that transactions remain private and that assets cannot be accessed or manipulated by bad actors. Cryptography in Blockchain Technology Cryptocurrencies operate on blockchain technology, which is a distributed ledger that records all transactions across a network of computers (nodes). Each block in the blockchain contains a list of transactions, and cryptography ensures the security of these transactions in multiple ways. 1. Hash Functions A fundamental cryptographic tool used in cryptocurrencies is the hash function. A hash function takes input data of any size and produces a fixed-length string of characters, known as a hash or digest. In cryptocurrencies, this hash is used to represent transaction data, ensuring that even the slightest change to the original input will result in a completely different hash output. Hash functions are essential for maintaining the integrity of blockchain transactions. When a block is created, the hash of the previous block is included in the new block, linking the two together. This creates a chain of blocks (hence the term “blockchain”). If someone tries to alter any transaction in a previous block, it would change the hash, breaking the chain and alerting the entire network to the tampering attempt. This feature ensures the immutability of the blockchain and prevents fraud or unauthorized alterations. 2. Public-Key Cryptography (Asymmetric Encryption) Public-key cryptography, also known as asymmetric encryption, is another critical component of cryptocurrency security. In this system, each user has two cryptographic keys: a public key and a private key. The public key can be shared with anyone and is used to receive funds, while the private key must be kept secret and is used to sign transactions. When a cryptocurrency transaction takes place, the sender uses their private key to create a digital signature, which proves ownership of the funds and authorizes the transaction. This digital signature is verified using the sender’s public key, ensuring that only the legitimate owner of the private key could have initiated the transaction. The beauty of this system is that while the public key can be openly shared, the private key remains confidential, providing robust security for transactions. The use of public-key cryptography prevents hackers from forging transactions, as they would need the private key to create a valid digital signature. As long as users keep their private keys secure, their cryptocurrency assets remain protected from unauthorized access. 3. Digital Signatures Digital signatures are another crucial cryptographic feature in cryptocurrencies. A digital signature is a unique identifier that is created using the sender’s private key. When a transaction is made, the sender digitally signs the transaction with their private key, which serves as proof that the transaction is legitimate and was authorized by the sender. Once the transaction is signed, the recipient (and anyone else in the network) can use the sender’s public key to verify the authenticity of the signature. If the signature is valid, the network confirms that the transaction came from the rightful owner. This process ensures that transactions cannot be altered or forged once they have been signed, providing an additional layer of security in cryptocurrency exchanges. 4. Elliptic Curve Cryptography (ECC) Elliptic Curve Cryptography (ECC) is a specific type of cryptographic algorithm widely used in cryptocurrencies, including Bitcoin. ECC is preferred for its efficiency, as it provides the same level of security as other cryptographic algorithms, like RSA, but with smaller key sizes. This makes ECC faster and less computationally intensive, which is ideal for blockchain networks that need to process large numbers of transactions quickly. ECC is used in generating the public and private key pairs for cryptocurrency wallets. The mathematical properties of elliptic curves make it nearly impossible for anyone to deduce the private key from the public key, ensuring the security of users’ funds. Why Cryptography is Essential for Cryptocurrency Security The use of cryptography in cryptocurrencies is crucial for several reasons: Protection from Theft: Cryptography ensures that only the holder of a private key can authorize transactions. This protects users from hackers who might try to steal funds by impersonating them. Integrity of the Blockchain: Cryptographic hash functions make it impossible to alter the contents of a block without invalidating the entire blockchain, ensuring that the transaction history is immutable and trustworthy. Privacy and Anonymity: While all transactions are publicly recorded on the blockchain, public-key cryptography ensures that the identities of the participants remain private. Users can maintain anonymity while securely transacting on the network. Prevention of Double Spending: By using cryptographic signatures, the network ensures that once a cryptocurrency unit is spent, it cannot be used again. This prevents the problem of double spending, which could otherwise undermine the integrity of the currency. Cryptography is the foundation of security in cryptocurrencies, making it possible to conduct transactions in a decentralized, trustless environment. By utilizing techniques such as hash functions, public-key cryptography, digital signatures, and elliptic curve algorithms, cryptocurrencies can provide a high level of security, privacy, and integrity for users. As the cryptocurrency industry continues to evolve, cryptography will remain a critical element in ensuring the safe and reliable transfer of digital assets.

2024-10-09 05:54:21

Blockchain group commits to economic devt

By Motunrayo Akintunde A group, Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) has restated its commitment to partnering with the government to promote economic growth and development in the country. A statement jointly endorsed by its President, Obinna Iwuno and member, Board of Trustees Barr. Mela Claude Ake, said the group will not be distracted by persons or groups trying sow the seed of discord among its members. The statement read: “Our attention has been drawn to some recent publications in the media purportedly suspending/expelling the President of SiBAN. “Ordinarily, we would have ignored those publications, but for the constituted authorities, critical stakeholders in the digital currency space and the general public, we are issuing this statement to set the records straight with the following points. Read Also: Blockchain firm supports Plateau’s digital drive “That SiBAN is an organization duly registered with the Corporate Affairs Commission (CAC) IT-7844224 with constituted Board of Trustees, and a trademark by the Federal Ministry of Trades and Investment. “That there is no crisis in SiBAN as the President, the Executive Council and members of the Board of Trustees are running the association seamlessly meeting various critical stakeholders in the ecosystem. “That the focus of SiBAN as constituted is to address the numerous scams and fraudulent activities that have tarnished the industry’s reputation. Also, strengthening regulatory frameworks and promoting transparency creates a more secure and trustworthy environment for investors and businesses alike. “That the claim by some faceless groups that it has expelled the Board of Trustees, including the President of SiBAN, Obinna Iwuno is a joke taken too far as a faceless group cannot expel a body duly recognized by the law. “That the primary goal of the faceless group is to establish a shadow administration that operates behind the scenes and accommodates fraudulent activities, with the president serving as a mere figurehead. This is a misunderstanding of corporate governance as no successful organizations, regardless of size or industry run illegitimately in Nigeria.” It added that the actions of this faceless group are mere distractions and counterproductive to the group and sustainability of SiBAN and the digital currency space at large. “Also, it is a feeble attempt to kick against the reforms that SiBAN is undertaking to dismantle some of their fraudulent activities like the creation and proliferation of memecoins, operating unregistered, unlicensed and unregulated crypto hedge funds and others where Nigerians have lost millions of Naira unchecked. That the public should be aware of this faceless group and not interact with them as doing so will be at the risk of such individuals or groups. “As an association, we called on those with legitimate concerns to seek legal redress through the appropriate channels. Together, we can harness the potential of blockchain technology to drive economic growth and development in Nigeria,” the group added.

2024-10-09 05:13:19

'No Other Choice': Crypto.com Sues SEC After Receiving Wells Notice

Cryptocurrency exchange Crypto.com has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), joining a growing number of crypto companies challenging the Wall Street regulator's enforcement-first approach toward the industry.The exchange revealed Tuesday that it decided to file a lawsuit after receiving a Wells notice from Commission staff. Several other firms with crypto services and offerings have also been slapped with a Wells notice in recent months, including fintech titan Robinhood.A Regulatory Approach That Has Left Crypto Firms With No ChoiceCrypto.com said the Wells notice ultimately illustrated how the SEC had been implementing "unauthorized and unjust regulation" against crypto firms."For now, improper SEC enforcement actions are part of the process of operating a legitimate and licensed crypto business in the U.S. While this is an unprecedented more for our company to file suit against a federal agency, actions by that agency towards our industry have left us no other choice," the exchange said in a statement.The crypto exchange also pointed out that the financial regulator has been pushing its crusade against the sector, even as there have been bipartisan signals that the next administration will take a more constructive approach.Inventing a New Term to Restrain the Booming IndustryIn its lawsuit, Crypto.com called out the SEC for coming up with a "newly defined financial instrument called a 'Crypto Asset Security'" that the regulator has been using in its lawsuits against crypto firms, claiming that crypto asset securities are subject to SEC rules."Rather than relying on statutory authority or undertaking notice-and-comment rulemaking, the SEC invented the term Crypto Asset Security out of whole cloth to expand is jurisdiction over the digital asset industry," the lawsuit stated.Crypto.com said the regulator was now "threatening" an enforcement action against the exchange over "secondary-market sales of network tokens on its platform, even though the SEC does not have jurisdiction over those sales," the complaint added.Community Stands With Crypto.comThe crypto community on X expressed support for Crypto.com's legal battle, including prominent trader Satoshi Stacker, who said he was glad to see the exchange "pushing back" on the SEC.Lawyer James Murphy, also known as MetaLawMan, commended the exchange for "responding to SEC threats with offensive tactics" instead of "rolling" after receiving a Wells notice.Many crypto groups across the broader blockchain sector joined in the unity call for Crypto.com.SEC's Wells Notices This YearCrypto.com is just the latest crypto firm to have received a Wells notice from the SEC. Since earlier this year, the regulatory agency had been issuing notices here and there, drawing outrage from a community that's grown weary of the Gary Gensler SEC's antics.In August, the SEC slapped non-fungible token (NFT) marketplace OpenSea with a notice, which OpenSea said was a move into "uncharted territory."Robinhood revealed in May that it received a notice even after its crypto arm, Robinhood Crypto cooperated with the SEC in its investigation regarding RHC's crypto listings.A month earlier, decentralized on-chain marketplace Uniswap also suffered the same fate. At the time, Uniswap CEO Hayden Adams said that while he was disappointed over the Wells notice, he was "confident" that the marketplace's "work is on the right side of history."Aside from a piling list of companies with Wells notices, the SEC also has multiple other ongoing lawsuits against crypto firms, including its cases with Coinbase and Ripple.

2024-10-09 05:06:21

Bitcoin Stands Firm at $62K Amid Market Volatility

Cryptocurrency markets are experiencing notable fluctuations, with Bitcoin holding steady at approximately $62,000 despite significant swings in traditional financial assets like stocks and gold. The dynamics between these markets reveal a complex relationship, influenced by various economic indicators and investor sentiment. While risk assets such as equities have surged, driven by optimistic corporate earnings and robust economic data, precious metals like gold have faced downward pressure. Recent data shows that major stock indices, including the S&P 500 and the NASDAQ, have rallied, buoyed by a strong earnings season and positive macroeconomic trends. This optimism has led to increased risk appetite among investors, prompting a shift towards equities. However, gold has declined, reflecting reduced demand for safe-haven assets as confidence in the economic recovery grows. The price of gold dropped below $1,800 per ounce, influenced by rising Treasury yields and a strengthening U.S. dollar. Contrastingly, Bitcoin and other cryptocurrencies are experiencing a distinct trajectory. While Bitcoin’s price has remained relatively stable, other digital assets, particularly memecoins, are witnessing profit-taking, leading to a decline in their value. The speculative nature of these assets often results in volatile price movements, with investors quickly shifting their strategies to capitalize on market trends. The trend has led to a 10% drop in major memecoins like Dogecoin and Shiba Inu over the past week. The divergence between traditional assets and cryptocurrencies raises questions about the long-term sustainability of Bitcoin’s current price level. Institutional interest in Bitcoin remains high, with several financial firms integrating digital assets into their investment strategies. The launch of Bitcoin ETFs in various markets has further legitimized cryptocurrency as an asset class, attracting both retail and institutional investors. Regulatory developments continue to influence market dynamics as well. Governments worldwide are increasingly focusing on the regulation of cryptocurrencies, with discussions around frameworks for taxation, anti-money laundering, and consumer protection gaining traction. In the United States, the Securities and Exchange Commission (SEC) is actively scrutinizing cryptocurrency exchanges and products, which could significantly impact market sentiment. Macroeconomic factors are playing a crucial role in shaping investor behavior. The Federal Reserve’s monetary policy remains a focal point, with market participants closely monitoring interest rate decisions and inflation trends. Recent statements from Fed officials hint at a cautious approach to tapering asset purchases, leading to speculation about the potential impacts on both traditional and cryptocurrency markets. As Bitcoin stabilizes around the $62,000 mark, experts suggest that the cryptocurrency may be reacting to broader market conditions rather than leading the charge. Analysts note that Bitcoin’s correlation with traditional risk assets has fluctuated, suggesting that it could either serve as a hedge against inflation or simply follow trends set by equities. The interplay between these markets highlights the evolving nature of cryptocurrency as an investment vehicle. Emerging technologies within the blockchain ecosystem are attracting attention. Developments in decentralized finance (DeFi) and non-fungible tokens (NFTs) are reshaping the landscape, offering new opportunities for investors and creators alike. As DeFi protocols gain traction, they present innovative solutions for lending, borrowing, and yield farming, further solidifying the relevance of cryptocurrencies in the financial sector. While Bitcoin maintains its position, the broader crypto market is navigating a complex environment influenced by external factors. The shift in sentiment surrounding memecoins highlights the speculative nature of many digital assets, where quick gains are often followed by sharp corrections. Investor caution is evident as they recalibrate their portfolios amid changing market conditions.

2024-10-09 04:45:00

Shiba Inu Price Prediction: Will SHIB Reach $0.0001 in 2025? Crypto Whales Pouring into RXS Presale as Stage 3 Ends in a Jiffy

The cryptocurrency market is arguably the most volatile and rapidly changing environment where prediction of prices is often speculation with a focus on meme coins such as Shiba Inu (SHIB). In the emerging markets where meme tokens have profoundly resonated with investors, even the more aggressive targets such as $0.0001 for Shiba Inu by 2025 remain a question to be answered. Balancing this, crypto whales have increasingly focused on the Rexas Finance (RXS) presale morphing into stage 3, which ends in a jiffy. Shiba Inu Price Prediction: Will It Reach $0.0001 in 2025? Currently, Shiba Inu (SHIB) cryptocurrency isn’t even one cent, leading some to predict whether this token can go as high as $0.0001 by 2025. The long-term price forecast for Shiba Inu is still favorable. Analysts have pointed out the $0.00002 resistance zone as one termed as critical for sellers to await in the few weeks to come. However, if SHIB can turn this zone into a support zone, it may confirm additional upside. As for more practical/conservative price predictions, according to CoinCodex, the highest predicted price for Shiba Inu will not go beyond $0.00007907 as of 2025. This figure constitutes some level of redevelopment from its current price, but it’s below the anticipated $0.0001 mark. With this rate of Shiba Inu’s circulating supply which is about 589 trillion tokens, there is no doubt that this figure of $0.0001 would need an unattainable amount of market cap in the next couple of years as most analysts bombastical think the market would get there. The Rise of Rexas Finance (RXS): Stage 3 Presale Ends in a Jiffy Even though long-term challenges are being faced by SHIB, investors, especially crypto whales are getting into the presale for Rexas Finance (RXS). Stage 3 of the Rexas Finance Presale ends in a jiffy bringing in a nice $2.75 million over a short length of time. This quick sell-out highlights the strong demand for the particular project more so the wealthy individuals and corporate investors who see the very special opportunity that the project holds in the cryptocurrency industry. As Rexas Finance seeks to be the top player in the tokenization of real-world assets RWA, investors can buy fractions of ownership of physical assets that are converted into the blockchain including real estate and commodities. These whales are putting bets on this truly innovative model of tokenized assets’ future. The presale has offered such early adopters with RXS tokens at low rates before the public offering to draw interest to the project before its official unveiling which is likely to raise even more interest. Crypto Whales Pouring Into the RXS Presale As Stage 3 of the Rexas Finance presale ended in a jiffy, whales have taken drastic measures to ensure they have entrenched their stakes in the project before the value of the token goes high. The involvement of whale investors has been one of the reasons behind the speedy pace at which the third stage has sold out and it is expected that their impact on the success of the ongoing presale will still be felt. Stage 4 of the presale has now begun at the rate of $0.06 per token. In light of previous whale activity, it is plausible to say that this stage will be sold out as well in no time. These high net-worth individuals flock to Rexas Finance because of the unique solutions towards RWA tokenization, a market set for explosive expansion in the foreseeable future.Whales understand that RXS can help revolutionize ownership in that trading and owning assets will be done in a more liquid, accessible, and transparent manner than in conventional investments. Rexas Finance is enabling global investors to have indirect investments in valuable physical assets by issuing partial asset-backed tokens and thereby tokenizing the physical assets. The Future of Rexas Finance (RXS) The outlook for Rexas Finance in the coming prospects was optimistic, particularly given the fact that whales and other early investors still keep onboarding in the platform. By the end of Stage 4, the project is on course to collect $5.45M worth of funds, a figure that shows that investors have regained confidence in RWA tokenization.Rexas Finance, in particular, seeks to entirely change how people and legal entities trade, possess, or wish to possess real-world assets. Once more people understand the advantages of RWA tokenization, Rexas Finance will be strategically taking up the RWA market. Despite the struggles that Shiba Inu (SHIB) has in achieving the target of 0.0001 by 2025, the future of Rexas Finance (RXS) appears extremely bright. With Stage 3 of the presale selling out swiftly and whale investors coming on board, Rexas Finance is on a growth trajectory. With the Stage 4 presale still on, grab this rare opportunity to be part of a game-changing and innovative project. Visit the Rexas Finance website today for more information and find out more. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance

2024-10-09 04:21:13

Bitcoin creator is Peter Todd, HBO film says

The admission, however, is not necessarily a smoking gun. Todd, who is a vocal backer of Ukraine and Israel on his X feed, is known to invoke the claim “I am Satoshi” as an expression of solidarity with the creator’s bid for privacy. In an email to CoinDesk prior to the documentary's release, Todd reportedly denied he was the bitcoin creator: "Of course I'm not Satoshi," he said. If Todd is widely accepted as bitcoin's creator, the revelation would end more than a decade of speculation over the identity of a person whose work spawned a global, multibillion-dollar craze for digital currencies: a mania that has pushed back the frontiers of finance but also enabled widespread fraud and other illicit activities. Todd is not unknown to enthusiasts of the stateless money system. As a longstanding bitcoin core developer known for communicating publicly with “Satoshi” before his disappearance from crypto forums in 2010, his name has always carried weight in the community. But he was rarely considered a prime suspect. A 39-year-old graduate of Ontario College of Art and Design in Toronto, Todd would have been 23 when the famous bitcoin white paper that first laid out the vision for the decentralized money system was being completed. Todd previously told a podcast he was about 15 years old when he first started communicating with key crypto influencers, known as the cypherpunks. “In investigations like these, digital forensics can only take you so far; they’re like a compass,” Hoback told POLITICO before the documentary aired. “Real answers can only be found offline.” “Todd’s game theory is next level,” Hoback said. “Just consider, in the run-up to release: he’s in the trailer, there’s a multi-million dollar betting pool, hundreds of thousands of tweets about the film and I didn’t see anyone suggest this possibility. He’s a fucking genius.” The naming of Todd will be a blow to crypto-based prediction markets, which had until Monday identified the late Len Sassaman, an American information privacy advocate, as the favorite.

2024-10-09 01:00:00

Unmasking Bitcoin Creator Satoshi Nakamoto—Again

Peter Todd is standing on the upper floor of a dilapidated industrial building somewhere in Czechia, chuckling under his breath. He has just been accused on camera of being Satoshi Nakamoto, the Bitcoin creator, whose identity has remained a mystery for 15 years. In the final scene of a new HBO documentary, Money Electric: The Bitcoin Mystery, documentarian Cullen Hoback confronts Todd with the theory that he is Satoshi. In a previous work, Hoback unmasked the figure behind QAnon. Here, he tries to repeat the trick with Bitcoin. “I will admit, you’re pretty creative—you come up with some crazy theories,” Todd tells Hoback, before rejecting the idea as “ludicrous.” “I warn you, this is going to be very funny when you put this into the documentary.” The film stops short of claiming to have conclusively unmasked the creator of Bitcoin, absent incontrovertible proof. “For the record, I am not Satoshi,” Todd says in an email. “It is a useless question, because Satoshi would simply deny it.” The hunt for Bitcoin’s creator has yielded a broad cast of Satoshis over the years, among them Hal Finney, recipient of the first ever bitcoin transaction; Adam Back, designer of a precursor technology cited in the Bitcoin white paper; and cryptographer Nick Szabo, to name just a few. The finger is pointed at some; others elect themselves. But though Satoshi has had many faces, a consensus has formed around none of them. “People have suspected basically everyone of being Satoshi,” Todd points out, early in the documentary. “The problem with this kind of stuff is that people play all these crazy games.” WIRED has its own place in the history of the hunt for Satoshi. On the same day in December 2015, WIRED and Gizmodo separately nominated Australian computer scientist Craig Wright as a potential Satoshi. The original story, based on a trove of leaked documents, proposed that Wright had “either invented Bitcoin or is a brilliant hoaxer who very badly wants us to believe he did." A few days later, WIRED published a second story, pointing to discrepancies in the evidence that supported the latter interpretation. In March, a judge in the UK High Court ruled categorically that Wright is not Satoshi, closing a case brought by a group of crypto firms to prevent the Australian from bringing nuisance legal claims. During the two months I spent covering the Wright trial, multiple Satoshis appeared in my inbox, too. “The world is not ready to learn about Satoshi Nakamoto, and they never will unless certain conditions are met,” wrote one of them, in a garbled message. Hell, I even met a would-be Satoshi in-person, in the waiting area outside the courtroom. The man, who had introduced himself as Satoshi, sat down in the public gallery to hear closing arguments. Before long, he nodded off, chin slumped against chest. One of the other onlookers anointed him “Sleeptoshi.” Plenty of bitcoiners welcome this strange, crypto version of “I Am Spartacus,” preferring that the identity of Bitcoin’s creator forever remain a mystery. Free from the overbearing influence of a founder, Bitcoin has evolved under a system of unspoiled anarchy, they say, in which nobody’s opinion is worth more than any other. Everyone is Satoshi, and nobody is Satoshi. “Satoshi’s greatest gift to the world was Bitcoin,” Jameson Lopp, an early bitcoiner and founder of crypto custody business Casa, told me earlier in the year. “His second greatest gift was to disappear.” The main evidence supplied in the documentary to back up the theory that Todd created Bitcoin is a forum thread from December 2010 in which Todd appears to be “finishing Satoshi’s sentences,” as Hoback puts it. The topic of that thread—a way to prioritize transactions based on the fee paid—is something Todd would later go on to build into Bitcoin as a contributing developer. As corroborating evidence, Hoback points to similarities in the grammar and syntax used by Todd and Satoshi, as well as the timing of Satoshi’s communications, many of which were composed during the summer, when Todd would not have had college classes to attend. (Todd disputes the characterization of his availability during the relevant summers.) Todd is well known in crypto circles for his contributions to the Bitcoin codebase and vocal advocacy for the technology as an alternative to cash—a supposedly surveillance-resistant tool for the digital world. At a conference in 2023, I watched as Todd, participating in a panel, said “fuck you” to the audience unless they exercised their right to make cash purchases that cannot be monitored by government or bank. Todd has conceded to having previously tried to develop a technology similar to Bitcoin, before Satoshi beat him to it. In their 2008 white paper, released in the shadow of a global financial meltdown, Satoshi sketched a vision for a new electronic cash and peer-to-peer payment system that would cut out money-grubbing financial intermediaries. In January 2009, they sent the first bitcoin transaction. A little more than two years later, they vanished from public view, leaving behind a pot of bitcoin—now worth billions—that has been undisturbed ever since. Those inclined to continue the hunt, like Hoback, point to the immense influence Satoshi would have should they ever return, such is the size of their dormant bitcoin stash. This is an asset that now forms part of 401ks, after all. The most hardcore believers even think it will displace the US dollar as the predominant global currency. For all the urgency and seriousness with which he now refutes the claim, Todd himself plays Satoshi doublespeak, telling the camera with a straight face that he is Satoshi, then lapsing into a wry grin. “By the way, everyone is Satoshi,” says Todd, in one instance. Another bitcoiner in the film describes Todd as “the contrarian of contrarians.” But whether or not he is the real Satoshi, Todd shares the view that some secrets are better kept and some questions better unasked. To expose Satoshi, he says, would be to open them up to personal safety risks. Imagine the attention Satoshi might receive from violent extortionists, with his multibillion-dollar trove of bitcoin. “Satoshi obviously didn't want to be found, for good reasons. No one should help people trying to find Satoshi,” wrote Todd, in his email to the press. “Making fun of the question itself is just good manners.”

2024-10-09 01:00:00

HBO doc reveals Bitcoin creator is Peter Todd—that’s wrong but ‘Money Electric’ is still a good watch

The search for Satoshi has now gone on for more than a decade. It has produced spectacular misfires, including Newsweek’s infamous 2014 cover story that claimed to find Satoshi hiding in plain sight in Los Angeles. The discovery was wildly wrong—Newsweek had instead found a confused older man whose last name happened to be Nakamoto—but the episode would become another piece of Bitcoin lore. It also served as a textbook example of the perils of confirmation bias. Now comes Cullen Hoback, whose new documentary Money Electric: The Bitcoin Mystery purports to unmask Satoshi Nakamoto once and for all. The film debuts at 9pm PT on HBO, the network that in 2021 released Hoback’s Q: Into the Story, a close-up look at the Q-Anon conspiracy that credibly pointed to the people who orchestrated it. Hoback does not lack confidence (the trailer for Money Electric proclaims the “Internet’s greatest mystery” will be revealed) and, by and large, his documentary is a good one. It avoids the pitfalls of most other crypto films. Money Electric is not a fan film by groupies looking to promote a token. Nor does it disparage and ridicule the crypto industry without trying to understand it—a common approach by would-be sophisticated critics. Instead, Hoback depicts a group of long-time Bitcoin advocates the way they see themselves: As the stewards of Satoshi’s gift, which gave the planet a form of money beyond the reach of intrusive, profligate governments. In this view, the villains are JPMorgan CEO Jamie Dimon—the Bitcoin-hating banker who is shown at the beginning and end of Money Electric—and Elizabeth Warren, the progressive senator who allied with Wall Street against crypto. Meanwhile, the central characters in Money Electric are those tied to Blockstream, a company that promotes the adoption of Bitcoin by individuals, companies and even countries. At the outset of the film, we meet Samson Mow, a self-proclaimed Bitcoin ambassador who helps persuade the Prince of Serbia and the President of El Salvador to embrace the currency. There is also Adam Back, the founder of Blockstream who is famous for creating Hash Cash, a precursor to Bitcoin. We also meet figures like Peter Todd, a Back acolyte and core Bitcoin developer, as well as Roger “Bitcoin Jesus” Ver, another influential early crypto figure who is currently facing charges for tax evasion. There are also cameos from high profile figures from the business world, including Jack Dorsey, the Twitter co-founder who renamed his other company from Square to Block as part of his dedication to crypto. The documentary’s interviews with this roster of longtime Bitcoiners lends it authority, as does its succinct handling of major events in crypto’s evolution. Those include the so-called block size wars over Bitcoin’s architecture, the rise of Ethereum and alt-coins (“shitcoins” to detractors) and the U.S. government’s recent campaign to hobble the industry. Satoshi ‘revealed’ Money Electric also stands out from other crypto films because of its hefty production budget—Hoback shoots scenes in Malta, Canada, El Salvador and numerous other places—and because the director pushes in all his chips in claiming to identify Satoshi Nakamoto. Unfortunately, his bet is almost certainly wrong. Hoback’s quest to identify Satoshi begins in the right direction. He identifies the most prominent figures in a network of “cypherpunks” who shared a passion for privacy and cryptography, and corresponded via a now-famous email list of the same name. It was this mailing list as well as an online forum called BitcoinTalk where, in addition to his famous white paper, Satoshi shared his vision for Bitcoin. Early in the documentary, Hoback shows photos of the cypherpunks most closely associated with Bitcoin and who represent the most likely candidates to be Satoshi. They are Back, the creator of Blockstream and Hash Cash, as well as other names familiar to longtime Bitcoiners: Hal Finney, Nick Szabo and Wei Dai. Hoback makes a brief half-hearted effort to assess if these candidates are Satoshi, and then moves on to Craig Wright, an Australian charlatan who arrived on the crypto scene in 2016 with falsified evidence to claim he invented Bitcoin. Mercifully, the film maker is not taken in and moves on to other candidates. As Money Electric progresses, it zeroes in first on Back as a potential Satoshi and then on Back’s Blockstream protegé and friend, Peter Todd. Todd is much younger than the other figures long identified as likely candidates, and would have been 19 or 20 years old at the time Satoshi Nakamoto published the Bitcoin white paper. To make his case that Todd is Satoshi, Hoback seizes on his 2013 email exchange with an unknown figure named John Dillon about a technical upgrade to Bitcoin. The emails were leaked in 2016 and caused a minor uproar in crypto circles as it appeared that Dillon was a U.S. intelligence agent paying Todd as part of a plot to infiltrate Bitcoin. Hoback, however, makes a plausible case in the film that Todd and Dillon were one and the same person—and that Todd orchestrated the whole controversy to push for the upgrade. Hoback treats this as a Eureka moment and, from this, seizes on a published exchange between Satoshi and Todd—one where Todd appears to correct the Bitcoin inventor—as proof that the latter must be Satoshi. In other words, Todd was again using his trick of replying to his own pseudonymous messages. To bolster the case, Hoback notes that Satoshi’s final communication appeared three days after the exchange, and that the writings of Todd, a Canadian, have included U.K. style spellings—such as colour and cheque—that are also found in texts by the Bitcoin inventor. In the film’s climax, Hoback interviews Back and Todd in a broken down castle in the Czech Republic (why they are there is unclear) and puts his theory to them directly. Todd never cleanly denies he is Satoshi but instead equivocates and appears to engage in gently trolling the film maker. Who is Satoshi? Based on all this, Hoback and HBO have been hyping Money Electric as a blockbuster exposé that, after all these years, unmasks Satoshi. Oops. They should have instead remembered the lesson of Newsweek and the perils of confirmation bias—the all-too-common practice of interpreting new information to affirm existing beliefs, and rejecting that which contradicts them. There is, for now, no smoking gun that Peter Todd is not Satoshi (though one may emerge soon enough). But it is notable that Todd’s name has never come up among crypto insiders as a likely candidate and it is improbable that Hoback, a newcomer to the scene, would stumble on Bitcoin’s inventor so conveniently. It’s also unlikely that someone barely out of high school who had yet to produce any publications of note would have both penned a document as complex as the Bitcoin white paper, and possessed the sophistication to implement what it set out. Finally, it stretches the imagination to think that Satoshi—who fiercely shunned publicity—would choose to participate in an HBO film exploring who created Bitcoin. When Todd tells Hoback in the film that “we are all Satoshi,” the film-maker should have simply recognized this as a familiar refrain from Bitcoin devotees and left it there. Hoback’s biggest mistake, though, is less his decision to zero in on Todd than to ignore a far more compelling theory about Satoshi’s identity—one that also aligns with Occam’s Razor, the theorem that the simplest explanation is typically the correct one. The film began on the right track by highlighting the original cypherpunks and that’s where the search for Satoshi should have stayed—and in particular on a man named Nick Szabo, who Hoback introduces as a potential suspect, but then dismisses without a compelling reason. He ignores not only longtime whispers within the Bitcoin community, but also a stack of compelling evidence. This evidence includes the work of Nathaniel Popper, a former New York Times journalist and author of Digital Gold, a close-up look at the early Bitcoin scene written much closer to the cryptocurrency’s origin story. Popper’s reporting—including this 2015 article—points clearly in the direction of Szabo, and is supplemented by an academic study that conducted a regression analysis that compared Satoshi’s writing and those of potential Bitcoin inventors. The study found an uncanny match between Satoshi and Szabo, who also uses U.K. spelling. If you favor circumstantial evidence, there’s also the fact that Nick Szabo’s initials NS are the inverse of SN. While Hobuck’s big reveal is ultimately a misfire, Money Electric is still very much worth watching. The filmmaker does an admirable job telling the story of crypto—a phenomenon that exists almost entirely online—with sophistication and passion, while making clever use of just enough graphics to convey timelines and technical portions. For crypto novices, Money Electric offers a compelling story that explains Bitcoin in a fair and accurate fashion. For longtime crypto devotees, the documentary supplies plenty of familiar faces and a sympathetic take on their culture—while also serving up yet another piece of lore that will be the subject of memes for years to come.

2024-10-09 00:13:49

Crypto.com Sues SEC To Fight Gary Gensler’s Ongoing Crypto Crackdown

Share to Facebook Share to Twitter Share to Linkedin Bitcoin symbol and gavel to regulate cryptocurrencies market. In a decisive move, cryptocurrency exchange Crypto.com has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) following the agency's issuance of a Wells Notice, according to the legal filing. The complaint seeks declaratory and injunctive relief to prevent what the company describes as an unlawful expansion of the SEC’s jurisdiction—led by its chair, Gary Gensler, to include secondary market sales of cryptographically secured digital assets. A Wells Notice signals the SEC’s intent to pursue formal enforcement action against a regulated party. Rather than waiting for any formal action, Crypto.com is challenging what it considers a significant overreach by the SEC. In an official statement, the company explained: “We are doing this to protect the future of the crypto industry in the U.S., joining peers who are defending themselves and taking action against a misguided federal agency acting beyond its authority under the law.” In addition to its lawsuit, Crypto.com’s affiliate, Crypto.com | Derivatives North America (CDNA), has filed a petition with both the Commodity Futures Trading Commission (CFTC) and the SEC. The petition seeks clarification on whether certain cryptocurrency derivative products fall under the sole jurisdiction of the CFTC. Crypto.com explained that this action is part of a broader effort to bring regulatory certainty to the industry by encouraging joint rulemaking between the two agencies. The declaratory lawsuit against the SEC is not an isolated event. Crypto.com joins other companies, such as ConsenSys, a leading Ethereum software and technology incubator company, in challenging the SEC’s authority. Recent developments have amplified concerns about the regulator's conduct. In March, a federal judge ruled that the SEC had engaged in "gross abuse of the power entrusted to it by Congress" during its dispute with blockchain firm Digital Licensing (operating as DEBT Box). In that case, the judge criticized the SEC for acting in “bad faith” and “deliberately perpetuating falsehoods” in its efforts to secure an asset freeze against the company. ConsenSys’s Legal Battle With The SEC ConsenSys has also been involved in a legal challenge against the SEC. The company filed a lawsuit after being added to the SEC’s list of crypto investigation targets. However, the case was dismissed by a Texas court after the SEC closed its Ethereum probe earlier in the year. The court ruled that, with no immediate threat from the SEC, the lawsuit was unwarranted. Despite this, ConsenSys’ lawsuit underscores the ongoing tension between the SEC and the crypto industry over regulatory overreach. MORE FOR YOU Hurricane Milton: Winds Pick Up As ‘Extremely Dangerous’ Storm Heads For Florida—Here’s What To Know A Missile Could Not Erase Russian Drone’s Embarrassing Stealth Secret Gmail Hackers Have Control Of 2FA, Email And Number? Here’s What To Do ConsenSys has been pushing for a balanced regulatory framework to support blockchain growth and ensure U.S. leadership in Web3 innovation. Joe Lubin, co-founder of Ethereum and CEO of ConsenSys, emphasized the importance of regulatory clarity, warning that the SEC’s "reckless approach" threatens the future of Ethereum and U.S. competitiveness in emerging technologies. Lubin also emphasized the importance of regulatory clarity for the future of Ethereum and U.S. technological leadership: “Ethereum is a world-changing technology, and ether itself has the potential to be a significant driver of the U.S. economy of the future. Unlawful SEC regulation, however, threatens to jeopardize this potential and impedes the U.S.’s ability to use blockchain technology as the basis for countless new innovations and technologies—even as other nations race ahead.” Both ConsenSys and Crypto.com argue that unchecked SEC overreach risks undermining U.S. leadership in the digital economy, with their legal actions calling for a more appropriate regulatory approach from the SEC and Congress. Ripple’s Final Victory Against The SEC A key case in the ongoing regulatory battle between the crypto industry and the SEC is Ripple’s legal fight over whether its XRP token constitutes a security. Ripple initially scored a partial victory in 2023 when a federal court ruled that XRP tokens, when sold to retail investors via exchanges, were not securities. However, the court did determine that institutional sales of XRP were unregistered securities, leading Ripple to pay a $125 million penalty—far less than the $2 billion the SEC sought. In October 2024, the SEC appealed the decision, reigniting the legal battle. In response, Ripple's Chief Legal Officer, Stuart Alderoty, commented via X (formerly Twitter) the appeal is "disappointing, but not surprising." The appeal has already caused XRP's price to drop, and it may impact efforts like Bitwise’s recent filing for the first spot XRP ETF, which now faces uncertain approval. Ripple’s case is pivotal in the broader fight against SEC overreach, as its outcome could further shape the regulatory framework for digital assets in the U.S. SEC’s Concerning Approach Under Gensler Leadership Crypto.com’s lawsuit comes during Chair Gensler’s increasingly controversial tenure concerning digital assets. His enforcement-driven approach, often labeled as "regulation by enforcement," has sparked high-profile clashes with major crypto companies, including OpenSea, Ripple Labs, and now Crypto.com. Critics assert that Gensler’s actions diverge from the SEC’s mission to protect investors and ensure fair markets. Even members of the five-member commission agree. Crypto.com’s legal filing contends that the SEC has "unilaterally expanded its jurisdiction beyond statutory limits." The company challenges the SEC’s classification of nearly all digital assets as securities, excluding Bitcoin (BTC) and Ether (ETH), even though these assets are "sold in an identical manner" to others the SEC seeks to regulate. Crypto.com emphasized that the SEC’s rulemaking failed to undergo the required notice-and-comment process, labeling the SEC’s approach as "arbitrary and capricious." Judicial Pushback Against The SEC Crypto.com’s lawsuit follows several high-profile legal challenges to the SEC’s tactics. In the DEBT Box case, Chief District Judge Robert Shelby sanctioned the SEC for acting in "bad faith" and "deliberately perpetuating falsehoods" in an attempt to freeze the company's assets. While the sanctions didn’t address the merits of the case, they underscored growing judicial concerns about the SEC’s handling of digital assets. Ripple’s ongoing legal battle with the SEC also highlights this skepticism. Although Ripple initially won a partial victory in 2023 when the court ruled that XRP sales to retail investors were not securities, the SEC’s appeal in 2024 has renewed the fight. Ripple's case, alongside Crypto.com’s lawsuit, reflects broader resistance to what many see as the SEC’s regulatory overreach. Crypto.com, like ConsenSys and others, seeks judicial clarity to limit the SEC's expansive interpretation of its jurisdiction over digital assets. By suing preemptively, these companies hope to establish clearer rules for the industry and rein in the SEC’s enforcement-driven approach. The rules –in the form of legislation—that has yet to come from Congress. The Path Forward For Crypto Regulation One of the most significant outcomes of Crypto.com’s lawsuit could be the judiciary’s growing role in shaping the regulatory landscape for digital assets. Federal courts have already weighed in on key crypto cases, such as Ripple Labs, ConsenSys, and DEBT Box, scrutinizing the SEC’s actions. The outcome of Crypto.com’s case could set a crucial legal precedent, determining whether digital assets like the "network tokens" sold on its platform are securities under U.S. law. Crypto.com’s lawsuit marks a pivotal moment in the ongoing battle over crypto regulation. By challenging the SEC’s authority, the company is not only defending its operations but also contributing to the broader push for regulatory clarity in the crypto space. As the company stated, "We believe that security and compliance are the foundations of achieving mainstream cryptocurrency adoption, and all of what we do is done with safety, security, and compliance at the core." As the judiciary assumes a more central role in defining the future of digital assets, the stakes are high for both the SEC and the crypto industry. A favorable ruling for Crypto.com could restrict the SEC’s ability to regulate secondary sales of digital assets, providing a significant boost to the industry. Conversely, a ruling in favor of the SEC could further empower the agency’s enforcement-driven approach, leaving the industry with even more uncertainty. Follow me on Twitter or LinkedIn. Check out my website. Tonya Evans Editorial Standards Forbes Accolades

2024-10-08 22:54:34

Who Is Peter Todd, The Man Named By HBO As Bitcoin’s Mystery Creator Satoshi Nakamoto?

Share to Facebook Share to Twitter Share to Linkedin Satoshi Nakamoto—the mysterious, anonymous creator of bitcoin—has successfully kept their real identity hidden since they published bitcoin's white paper in 2008. Bitcoin has become a $1.2 trillion asset (though one Wall Street giant has predicted it could be about to go far higher) over the last 15 years—making the man, woman or group known only as Satoshi Nakamoto worth almost $70 billion if they still control the 1.1 million bitcoins they're believed to hold across a series of wallet addresses. Now, HBO documentary film maker Cullen Hoback has named Peter Todd, a bitcoin core developer who has been involved with bitcoin since 2010, as who he believes to be the real-world identity of Satoshi Nakamoto. Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run ForbesJPMorgan Has Quietly Tipped Bitcoin For A $7.5 Trillion Donald Trump And Federal Reserve Price EarthquakeBy Billy Bambrough MORE FOR YOU Hurricane Milton: Winds Pick Up As ‘Extremely Dangerous’ Storm Heads For Florida—Here’s What To Know A Missile Could Not Erase Russian Drone’s Embarrassing Stealth Secret Gmail Hackers Have Control Of 2FA, Email And Number? Here’s What To Do The mystery of Satoshi Nakamoto has gripped the bitcoin world for the last 15 years as the bitcoin ... [+] price surge has made the anonymous developer a multi-billionaire. NurPhoto via Getty Images "What if the real reason for using the name Satoshi, for the anonymity, was so that people could take bitcoin seriously, so they could believe it was created by [a famous cryptographer] and not some kid still in school," Hoback said during the Money Electric: The Bitcoin Mystery documentary on HBO before putting his theory directly to Todd—who was in his early 20s and finishing a fine arts degree in 2008, the year Satoshi Nakamoto published the bitcoin white paper. "Here's what I think happened, possibly," Hoback said, speaking on camera to Todd and Adam Back, the chief executive of bitcoin development company Blockstream that Todd has worked with since the earliest days of bitcoin. "I think that John Dillon [an anonymous BitcoinTalk contributor that some believe to have been linked to the intelligence community] was created so you would have an excuse to make replace-by-fee, a concept you had envisioned years earlier but needed some kind of cover in order to make, and you also needed some cover for the 2010 post," Hoback told Todd, referring to the Bitcoin Improvement Proposal 125 introduced by Todd in 2015 and a 2010 BitcoinTalk post replying to Satoshi Nakamoto that Hoback believes was accidentally posted using Todd's profile. Hoback's theory relies on a chat log message written by Todd in which he claims to be the "world's leading expert on how to sacrifice your bitcoins ... I've done one such sacrifice and I did it by hand," Todd wrote. Hoback characterized the message as an "admission" by Todd that he destroyed his ability to access the 1.1 million bitcoin believed to be held by Satoshi Nakamoto, something Todd denies. "It's ludicrous," Todd told Hoback, also denying he's John Dillon. "This is going to be very funny when you put this into the documentary and a bunch of bitcoiners watch it." Ahead of the documentar airing, leaked clips appeared online, spreading on the social media site X. In a statement to Coindesk, Todd denied he's Satoshi Nakamoto, saying Hoback is "grasping at straws." Who Is Peter Todd? Todd is a Canadian who started contributing to bitcoin’s code in 2012 and describes himself as a "cryptochronomancer" on X. During bitcoin's so-called blocksize war, waged from August 2015 to November 2017, Todd was on the side of the "small blockers"—along with Adam Back and Blockstream—who wanted to keep bitcoin's 1 megabyte limit, arguing against the "big blockers" who wanted to increase the block size to enable cheaper and faster transactions. The small blockers won, forcing those who had opted to increase the blocksize to "fork" from bitcoin, creating the bitcoin cash cryptocurrency. Todd is the founder of OpenTimestamps, an open-source project designed to provide a standard format for blockchain timestamping. He has worked on so-called "bitcoin 2.0" projects, including Counterparty, Mastercoin and Colored Coins and was involved in the launch of privacy coin zcash in 2016 alongside NSA whistle blower Edward Snowden—publicly destroying the computer he used to create the cryptocurrency. In 2019, Todd was accused of sexual misconduct by privacy-tech expert Isis Lovecruft, a developer of the Tor identity-masking onion browser, settling his defamation suit filed in response to the allegation in 2020. Follow me on Twitter. Billy Bambrough Editorial Standards Forbes Accolades

2024-10-08 22:00:13

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