Category: Crypto News

The TrueCrypt Bitcoin Wallet

A bitcoin wallet is a software program designed to help people store and maintain their precious crypto currency. There are multiple wallet programs that are available. Some of the leading currencies to be supported by these wallets are XBTE, which is Litecoin, and Truecrypt, which is a Truecrypt product, which is an encryption software which is the latest in safe online storage.

The best way to do a bit of research into the different wallet programs is to take a look at the reviews out there. If you are curious about this type of software, then look through some of the forums that are available. They often provide reviews on the top cryptocurrency wallet providers and their various offerings. You can use one of these tools to ask a general question and also see if there are any customer reviews for these products.

Many people will not be happy to get information about other people’s experiences with them. Many reviews are as honest as reviews that come from unbiased sources. This helps ensure that a certain product will be honest in its descriptions. Many of the reviews give the same information with a bit of exaggeration but this does not make them any less honest.

bitcoin-image-500pxAs you look at the reviews, you will find that there are very many different products that are being discussed. It is likely that you will come across a specific type of cryptocurrency wallet that is very popular. When you go to that specific website you will notice that there are different areas you can look through. You can find downloads, tutorials, and more to help you understand what is happening and how you can use the software.

One thing to keep in mind is that there are several types of wallet programs. There are software programs that work offline, there are those that work with software on your computer, and there are those that require a free download to make it functional. There are many software programs to choose from and there are many different wallet programs to choose from. If you are looking to download a particular wallet software, make sure that you read the reviews out there as you are trying to find the best software program. Just make sure that you are using the right type of encryption software to give you the most secure way to store your currency.

You can take your cryptocurrency any way you want to and you can keep it safe and secure from thieves, hackers, and both. You can purchase a wallet from a particular website or download one of the free programs that is available for download. When you are dealing with a currency that has value and when you have people asking you for it, you want to make sure that you are putting that currency in a safe, secure, and accessible location.

If you have your wallet in one of the more secured and secure locations, you can get it out when you want to. You will be able to store a lot of your coins without worrying about theft, while you can get your wallet online to buy things and pay for things.

An Introduction to the Future of Money

Crypto currency is one of the most exciting technologies to hit the market in many years. People are exploring the possibilities and wondering if it’s safe or not. Many people are trying to understand the technology behind this new and revolutionary idea.

No one has yet to reveal what will happen once these money experts release their new discoveries but one thing is for sure; the world of money and trade is about to undergo a revolution unlike anything experienced before. This revolutionary new technology promises to change the way money is exchanged and used.

cryptocurrency-ethrum-500pxWith the power of the Internet we are now able to execute trades more efficiently, and it’s also more convenient to exchange money using the Internet. Since so many people are utilizing this technology to trade with, it will be interesting to see how quickly the world’s monetary system adapts to this new form of trade.

In this article we will be discussing one of the most promising and highly traded currencies, the Ethereum. We will explore what this currency is, the potential it holds, and the possible impact it will have on the future of money.

The Ethereum is a cryptocurrency that can be traded for an Ether. While it’s true that you can purchase Ether from another currency, you won’t receive the value you are offering in the currency of your choice. What you are actually purchasing is a contract in the Ethereum system.

Now the Ethereum is not like a typical currency. It is a built-in security. You will receive the benefit of having this extra security, but you are not the person that is directly benefiting from the transaction.

The problem with this type of security is that you will be required to have the Ether on hand for the transaction to be completed. This is why it’s important to be aware of what you are trading for. The best advice we can give to new users of the Ethereum is to think of this as a new concept that is just beginning to become more mainstream. The value of the Ethereum and how it will impact the future of currency exchange will be more apparent when the economy of the world is no longer dependent on the dollar.

The Ethereum is a currency that has been designed with the benefit of safety and security in mind. The problem is that these are not factors that are immediately apparent to the average person.

The Ethereum system will be useful in the same way that debit cards are useful. It will be the same value in both, but one of the biggest differences will be the security that will be provided.

As we explore the ethereum we’ll explore what it’s going to do for the world of money. If you haven’t yet heard about the technology, now is the time to learn more. Today is the day.

Zuckerberg Remains Silent on Facebook Libra in His Predictions for the Next Decade

In a recent Facebook post, Mark Zuckerberg, the founder, and CEO of Facebook laid out his predictions for the next decade. In his Facebook post, Zuckerberg said that Facebook was planning to create tools for the ecommerce sector. The company will focus on tools that help small businesses access technology that was previously only accessible by large companies.

Decentralizing Technology

Facebook Libra CryptocurrencyAccording to Zuckerberg, it will soon be possible to sell products via Instagram and offer support via Messenger. Additionally, customers will soon be able to send funds to their loved ones via Whatsapp. The result is that small businesses will essentially become tech companies.

While Zuckerberg talked about decentralization, it was not in the context of blockchain technology or cryptocurrencies. Instead, it relates more to the democratization of the ecommerce space. A concept that is already quite prevalent in Silicon Valley with various startups such as Uber have made their mark.

No Mention of Facebook Libra

For people in the crypto community that have been following up on the Libra, it was obvious that Zuckerberg did not mention the project once in his vision for the decade. Instead of talking about Libra, Zuckerberg chose to highlight other projects that the company was working on such as virtual reality and even the creation of a new community governance model.

One reason why Zuckerberg may have chosen to avoid Libra this year is due to the controversy it has raised amongst legislators globally. Various governments in most of the Western world, including the US and most of the major economies of Europe have all expressed concern about the project. There have even been calls for the project to be shelved by members of the US congress.

It would appear that due to the fallout from the initial announcement of the project, Zuckerberg is trying to distance Facebook from the project. In short, while Facebook will still be a core partner of the project, it does not intend to base its ecosystem around the project.

One of the major opponents of Facebook Libra on the global stage is the French government. The nation’s finance minister has expressed concerns that the project might undermine the monetary sovereignty of central banks globally. Another person who does believe in the project is the finance minister and the president of Switzerland, he recently declared the project a failure in its current form. This was a notable observation since the headquarters of the project are in Switzerland.

Besides external pressure, the Libra Association itself has been facing a lot of strife. The result was that various key members such as Visa and PayPal abandoned ship. However, all of them have expressed an interest in rejoining the project later.

Libra is Still On

NBA Player Tokenizes his $34 Million Contract without Permission from the League

Spencer Dinwiddie, who is the eighth-most valuable point guard, recently announced that he would soon release a tokenized investment vehicle for his $34 million NBA contract on January 13. He said that he would go ahead with the tokenization of his contract whether the NBA approved of it or not.

The Tokenization

Spencer Dinwiddie tokenAccording to news reports, Spencer Dinwiddie will launch a digital investment vehicle similar to an ICO. To do that, the point guard will take a portion of the funds from his three-year contract with the Brooklyn Nets, which is worth around $34 million and tokenize them through the DREAM Fan Shares Company that he owns. However, this news has not gone down well with the NBA, which has threatened to cancel his contract.

In essence, Dinwiddie will be able to earn some of the money from his contract upfront instead of waiting for three years to unlock all the cash in his contract. Those who invest in the project will get SD$8 tokens, which will grant them a stake in the future of Dinwiddie’s earnings. According to him, this will allow his fans to invest and earn money from his success as a player.

Potential Problems with the NBA

While Dinwiddie insists he will go ahead with the plan, the NBA has not permitted him to do that. They have been engaged in talks with the player for months but thus far, it would appear no progress has been made. The point guard now says he is prepared for any disciplinary action taken against him if he goes ahead with the launch.

Originally, Dinwiddie was going to launch the tokenized contract in October last year but interference from the league caused delays. According to the NBA, this would be a violation of the terms of his contract.

The NBA cited a clause in the contract that states, “No player shall assign or otherwise transfer to any third party his right to receive compensation from the team under his uniform player contract.”

According to Dinwiddie, he has drafted a new plan that does not violate the agreement he has with the league. For instance, he notes that his new plan does not tie the investment directly to his NBA contract. He also added that the tokenization plan would be good for the NBA since it would ensure higher levels of engagement among stakeholders.

According to an NBA official, the latest plan from Dinwiddie is being reviewed. The head of communication at the league confirmed that Dinwiddie’s advisors had furnished them with new information regarding the digital investment vehicle and they were reviewing it to see if it violated their contract terms with the point guard.

No matter the outcome, Dinwiddie has said he will go ahead with the launch and he is prepared for the fallout. If things do not work out, he could lose his current contract with the NBA. However, that is unlikely to happen since he is currently at the top of his game and quite valuable to the league.

 

Australia’s Central Bank Will Never Allow Facebook Libra in the Country

A recent report indicates that there is no hope for Facebook Libra in Australia. According to the report, the Reserve Bank of Australia says it does not any see any justification for making huge regulatory adjustments to accommodate Facebook Libra.

Various central banks around the world have been wondering how Facebook Libra could be regulated. Many have expressed concerns about its impact on their monetary policies. Meanwhile, Facebook Libra has been engaged in a global charm offensive to try to convince regulators to accept it.

However, in a recent submission to the Australian Senate, the Australian central bank said that Facebook Libra should not be allowed in the nation without strict regulation. The bank then noted that the demand for the currency was not clear even with the strict regulation.

In its submission, the central bank noted that there was already a low cost and efficient real-time payment infrastructure in place, pointing to the New Payments Platform. The bank also noted that when it came to cross-border payments various players had stepped in the recent past and it was now cheaper and more efficient to make cross border payments.

Central Bank Digital Currencies

In its submission, the Reserve Bank of Australia noted that digital currencies like Libra had led to a discussion about central bank digital currencies. The central bank said that there was no need to launch a centralized digital currency since it could negatively affect commercial banks operating in the nation.

The bank noted that there was currently little demand for such a digital currency. However, it said that if demand for a CBDC grew, it would lead to a fall in deposits in commercial banks and reduce the funds available for lending to households. This submission by the central bank shows the hurdles that Facebook Libra will need to overcome before it can gain global acceptance.

Global Efforts to Regulate Libra

The Financial Stability Board, which is a global body that regulates the financial sector, is expected to produce a report in 2021 on Facebook Libra for the G20. Meanwhile, the G7 has found that while Libra could help to enable quick and secure cross-border payments, there were still legal uncertainties that needed to be addressed. It also noted that issues such as taxation, the risk of money laundering, investor protection, and data privacy, needed to be dealt with soon.

Most financial experts expect that the biggest impact of Facebook Libra will be in emerging economies where demand for stable coins and efficient money transfer platforms was in great demand. The central bank of Australia noted that while digital currencies had the potential to impact its mandate, it was looking into the possibility of issuing a centralized digital currency.

Will Not Allow Libra

According to the bank, Facebook and its partners could leverage their large user base to launch the Facebook Libra coin. However, no matter what happens, Libra would not be allowed in the nation, according to the bank.

 

Another Crypto Exchange Leaves Europe Due to Regulatory Pressure

Deribit, a crypto derivatives exchange based in Europe, recently announced that it was leaving Europe due to regulatory pressure. According to the announcement, the planned EU regulations, which are based on FATF guidelines, would force crypto exchanges to carry out extensive surveillance on their users.

Moving to Panama

The crypto currency exchange will move its operations to Panama from the Netherlands starting on February 10, 2020. They are not the only exchange that has been forced to leave Europe due to regulation. Various other crypto exchanges have shut down their operations because they opposed the increased surveillance measures put in place by the EU on the crypto industries. These businesses believe that this is a violation of privacy rights and they would rather shut down or move than collect so much data on their users.

Upcoming EU Regulation

Besides increased privacy invasion, the planned 5AMLD regulation would greatly increase the barrier to entry for exchange users. The result is that most of the existing users of Deribit might not be able to comply with the new rules. Additionally, it would come at an increased cost for the exchange. The result is that the exchange would make less money while also seeing their costs go up. Besides changing the location of the exchange, not much else will change. The leadership team and the staff working for the exchange will remain the same.

What Else will Change?

Starting on February 10, all of the exchange’s operations will be transferred to DRP Panama Inc., a legal entity registered in Panama. The result is that all holdings, equity, open client positions, fees, trade history, wallets, portfolio margin arrangements, and various other system settings will be in the control of the entity registered in Panama. Besides that, they plan to move the hardware for their servers to London. However, users of the exchange might not even notice the difference in the UI.
Thus far, companies operating in the crypto sector have been leaving the EU in droves. The new AML requirements are too strict and they seem to have been designed to stifle the growth of the crypto sector. Only small startups have pulled out so far.

However, major exchanges such as OKEx and Binance might soon have to stop all their operations in the EU soon.
According to the EU, the rules are being implemented to prevent terror financing, in the face of increased terror activity globally. Besides that, the EU is trying to prevent money laundering by drug dealers and other nefarious activities engaged in activities such as human trafficking.

Will this Change?

It is unlikely that the EU will change its stance on the crypto sector anytime soon. Thus far, the sector has proven hard if not impossible to regulate, which has left regulators frustrated. This is especially so when it comes to privacy coins. Various regulators have admitted they are not able to track down privacy coins due to how they are designed. Despite these challenges, it is worth pointing out that all financial crimes before the invention of crypto were conducted using fiat currencies.

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