Category Archives: Satoshi Nakamoto
ESMA’s Crypto Warning: Flags Risks in the Evolving Market – Analytics Insight
ESMA highlights risks in the cryptocurrency market and issues a warning to investors
The cryptocurrency market continues to raise questions about investor protection, and in the European Union (EU), regulatory safeguards may remain elusive until at least the end of 2024, according to the blocs securities watchdog. The EU achieved a significant milestone as the first global jurisdiction to endorse a comprehensive set of rules designed to govern crypto assets such as bitcoin. Although these rules officially took effect in June, their full implementation is not slated until December 2024.
The urgency surrounding cryptocurrency regulation has intensified, partly due to the high-profile collapse of the crypto exchange FTX and the persistent extreme volatility in the prices of digital assets, particularly bitcoin. Notably, crypto assets remain outside the ambit of existing EU securities regulations, a point emphasized by the European Securities and Markets Authority (ESMA). As a result, investors cannot currently avail themselves of EU-level regulatory protections, supervisory safeguards, or recourse mechanisms under the newly introduced rules, known as the Markets in Crypto-Assets (MiCA) framework, until December 2024.
The EU watchdog, ESMA, issued a stark warning to potential cryptocurrency investors. It stressed that Even with the implementation of MiCA, retail investors must be aware that there will be no such thing as a safe crypto asset. The statement posed a critical question to would-be investors: Can you afford to lose all the money you are planning to invest? ESMA went further to highlight that crypto assets are particularly susceptible to novel operational and security risks, underlining the markets unpredictability and potential hazards.
However, the MiCA framework itself may not guarantee comprehensive protections within EU member states that have opted to grant an 18-month transitional period to crypto firms. This period allows these firms to operate without requiring a European Union license, which effectively implies that customer coverage might not be ensured until July 2026. ESMA anticipates that a considerable number of crypto firms may choose to continue offering their services under these transitional terms through mid-2026.
Furthermore, crypto firms originating from non-EU countries may have limited opportunities to provide services to EU customers, and these opportunities will be strictly constrained. ESMA clarified that such exemptions should be narrowly interpreted and not exploited to circumvent MiCA regulations. The regulatory authority emphasized its collaborative efforts with national regulators to promote alignment and early implementation of MiCA rules. This concerted initiative aims to ensure that companies understand that the EU is committed to eliminating opportunities for forum-shopping and illicit practices within its jurisdiction.
Crypto assets have a relatively brief yet tumultuous history, marked by remarkable growth as well as increased scrutiny and regulatory oversight. Since the inception of bitcoin in 2009 by an anonymous individual or group known as Satoshi Nakamoto, the crypto market has grown exponentially. Bitcoin, the first and most well-known cryptocurrency, laid the foundation for thousands of alternative digital currencies.
The allure of cryptocurrencies primarily revolves around decentralization, anonymity, and the potential for financial gains. Many early adopters and investors have seen substantial profits, and bitcoins price has experienced multiple meteoric rises. This success has not only captured the attention of seasoned investors but also retail investors and speculators. As the crypto market expanded, numerous altcoins (alternative cryptocurrencies) emerged, each promising unique features and use cases.
However, the crypto space is fraught with risks and uncertainties. Market volatility, price manipulation, and fraudulent schemes are just some of the challenges faced by investors. Cryptocurrencies operate in a largely unregulated environment, which means that investors may have limited recourse in cases of fraud or mismanagement by crypto platforms and companies. Additionally, the anonymity associated with many cryptocurrencies can attract illegal activities, including money laundering and tax evasion.
The collapse of cryptocurrency exchanges, where investors trade digital assets, has been a recurring issue. Some exchanges have gone bankrupt, disappeared, or been hacked, resulting in substantial losses for investors. In 2014, Mt. Gox, one of the first and largest bitcoin exchanges, filed for bankruptcy after losing approximately 850,000 bitcoins. More recently, the FTX exchange faced challenges and legal issues, highlighting the inherent risks associated with crypto trading platforms.
Regulatory scrutiny of cryptocurrencies has increased as governments seek to address concerns related to investor protection, financial stability, and the potential for illicit activities. Many countries have implemented or proposed regulations to bring cryptocurrencies within the framework of existing financial laws. However, regulatory approaches vary significantly between jurisdictions, contributing to a lack of uniformity in the treatment of crypto assets.
Despite the risks and uncertainties, cryptocurrencies have maintained their appeal. Bitcoin has garnered the attention of institutional investors, and blockchain technology, the underlying infrastructure of cryptocurrencies, has found applications beyond digital currencies. These applications include supply chain management, voting systems, and decentralized finance (DeFi) platforms, which offer financial services without traditional intermediaries.
In conclusion, the EUs cautious approach to regulating crypto assets underscores the complexities and challenges associated with digital currencies. As the crypto market continues to evolve, investors should exercise prudence and conduct thorough due diligence before engaging in cryptocurrency-related activities. The lack of comprehensive regulatory safeguards emphasizes the need for careful consideration of the potential risks and rewards of participating in the crypto space.
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ESMA's Crypto Warning: Flags Risks in the Evolving Market - Analytics Insight
Snowden Addresses Bitcoin ETF Risks and Anonymity – Cryptonews
Edward Snowden challenges the Bitcoin community to reconsider the currency's utility and anonymity, while cautioning about the influence of institutional involvement via ETFs.Image by stockphoto-graf, Adobe Stock.
Renowned whistleblower Edward Snowden spoke at the 2023 Bitcoin Conference in Amsterdam last week, shedding light on several pressing issues surrounding Bitcoin.
Known for his advocacy of cryptocurrencies, Snowdens address covered a range of topics, from Bitcoin's struggle with anonymity to the impact of institutional involvement.
In a departure from the standard discourse that often centers around Bitcoin's price, Snowden urged the audience to consider Bitcoin's utility. He stressed that an overemphasis on price and market trends could lead to a skewed perception of the cryptocurrency.
"Investors need to shift focus away from price charts and candlestick patterns," Snowden said, noting that the true value of Bitcoin lies in its utility as a decentralized currency.
The whistleblower also discussed the issue of anonymity, or the lack thereof, in Bitcoin transactions. Snowden, drawing from his own experiences in 2013 when he used Bitcoin to fund servers hosting classified documents, expressed concerns about Bitcoin's pseudonymous nature. This nature, according to him, makes it susceptible to government surveillance.
"Bitcoins struggle with genuine anonymity makes it vulnerable to the prying eyes of governments," he explained.
Institutional involvement in Bitcoin was another focal point of Snowden's address. While acknowledging that institutional investments have the potential to boost the Bitcoin price, he cautioned about the power imbalance that could result.
Such an imbalance, Snowden warned, could limit the everyday Bitcoin users influence on the cryptocurrencys future direction. He noted that substantial investments from financial institutions could overshadow the grassroots ethos that Bitcoin was built upon.
Snowden also touched on the topic of Bitcoin ETFs (Exchange-Traded Funds), products that have been in the spotlight as major financial firms seek regulatory approval for their launch. He suggested that these ETFs could effectively domesticate Bitcoin, moving it away from its original, decentralized nature.
"These ETFs are, in essence, 'taming' Bitcoin," he asserted, sparking rampant discussion within the crypto community.
The underlying question is whether Bitcoin ETFs are diluting the core principles of a decentralized, permissionless financial system or whether they are a stepping stone toward broader acceptance and integration of Bitcoin into mainstream finance.
Edward Snowden's observations at the Amsterdam conference serve as more than mere commentary; they're as a lens through which one can scrutinize the ongoing evolution of Bitcoin and its role in the broader financial landscape.
As regulatory frameworks around Bitcoin continue to develop and as institutional involvement grows, Snowden's cautionary words question the trajectory on which these developments place the digital currency.
For instance, the rise of digital finance platforms, from decentralized finance (DeFi) to traditional banking apps incorporating Bitcoin transactions, indicates an increasing integration of Bitcoin into everyday financial activities. But as this integration accelerates, the issues Snowden pointed outespecially concerning anonymity and institutional influencebecome even more pressing.
As the digital currency continues to evolve, his insights provide valuable context, challenging both developers and everyday users to consider whether the current trajectory aligns with the values set forth by its enigmatic creator, Satoshi Nakamoto.
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Snowden Addresses Bitcoin ETF Risks and Anonymity - Cryptonews
Buy Gold And Bitcoin: Cataclysmic U.S. Dollar Crisis Triggers Serious Recession Warning That Could Cause Ethereum, XRP And Crypto Price Chaos – Forbes
BitcoinBTC, ethereum, XRPXRP and other major cryptocurrencies have struggled to hold onto their early 2023 gains recently as the U.S. wages "war" on crypto.
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster ahead of next year's historical bitcoin halving!
The bitcoin price, down sharply from its late 2021 highs, rebounded through the first half of this year, boosting the likes of ethereum and XRP, but has dropped back despite soaring expectations that a $17.7 trillion earthquake is on the horizon.
Now, after a shock leak blew up the mystery of bitcoin's anonymous creator Satoshi Nakamoto, billionaire hedge fund manager Paul Tudor Jones has warned the "cataclysmic" fiscal situation in the U.S. means he's stockpiling bitcoin and gold.
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"Its a really challenging time to want to be an equity investor and in U.S. stocks right now," Jones told CNBC. "Youve got the geopolitical uncertainty ... the United States is probably in its weakest fiscal position since certainly World War II with debt-to-GDP at 122%."
Jones, the legendary hedge fund manager who lit a fire under bitcoin when he shocked markets in May 2020 by calling the cryptocurrency the fastest horse to beat inflation, has renewed his commitment to bitcoin and gold in the current geopolitical and marco environment.
"I can't love stocks," he said, "but I love bitcoin and gold. I think they probably take on a larger percentage of your portfolio than they would [usually] because were going to go through both a challenging political time here in the United States and weve obviously got a geopolitical situation"referring to the outbreak of war between Israel and the Palestinian militant group Hamas and the looming 2024 U.S. presidential election.
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Jones went on to voice fears others have raised that the U.S. could be headed into a "vicious circle" of "higher interest rates cause higher funding costs, cause higher debt issuance, which cause further bond liquidation, which cause higher rates, which put us in an untenable fiscal position."
In early 2022, the the Federal Reserve began hiking interest rates at a historic clip in order to bring soaring inflation under control, creating what some fear could become a counter-intuitive "death spiral" for the U.S. dollar that ultimately pushes up the bitcoin price.
Last week, Jefferies' analysts warned the Fed could be forced to restart its money printerpotentially collapsing the U.S. dollar and fueling a bitcoin price boom to rival gold.
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
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Bridging the gap: The Gensler controversy and the path to digital … – CryptoSlate
After severe boom and bust phases, how can we gauge the importance of blockchain-based assets? Will they interface with daily life or remain on the margins of regulatory containment?
Above all else, one must notice that digital assets represent the next evolutionary step brought about by the internet. The World Wide Web decentralized information sharing, rendering gatekeepers into redundant friction points.
By the same token, blockchain technology decentralized financial assets or is in the process of doing so.
From time immemorial, the core problem of finance centered around methods to keep an account of wealth. Either governments or banks have been responsible for maintaining the record of who owns what assets and who transfers those assets to whom.
This methodology became entrenched in the absence of alternatives, making money the subject of manipulation, eroding the potential to save, and forcing consumers to look for alternative mechanisms to save their purchasing power. One of these corrosive manifestations is setting the inflation target at 2% without having the ability to explain the reasoning behind it coherently.
Bitcoin broke through this historical barrier as a product of a publicly distributed ledger blockchain. The combination of a distributed ledger and a peer-to-peer verification/mining network made Bitcoin the vanguard of a truly decentralized, permissionless financial system.
Everything else that followed was built on this concept. At the core, BTC token is a smart contract, interfacing with other smart contracts, their authenticity secured by the blockchain network. In turn, any existing logic can be tokenized and secured on other blockchains using similar authentication techniques:
The common theme is that blockchain enables the expression of wealth in tokenized form to be accessed permissionlessly without third-party interception. Alongside the stock market, a permissionless crypto market emerged, with all its benefits and flaws. In the transition between TradFi and DeFi, stablecoins have proved especially popular.
Anchored to fiat currency value, these tokens are poised to become a major demand source for US treasuries monetized government debt. Already, the largest stablecoins, USD Coin (USDC) and Tether (USDT), back their tokens with billions in short-dated US treasuries. The latest stablecoin newcomer, PayPal USD (PYUSD), does the same.
The value of tokenized wealth then becomes an extension of the existing central banking system, as noted by Federal Reserve Chair Jerome Powell in June 2023:
We do see payment stablecoins as a form of money, and in all advanced economies, the ultimate source of credibility in money is the central bank.
Likewise, the testament to the power of smart contracts is expressed through upcoming central bank digital currencies (CBDCs). The question is not whether the blockchain revolution will fizzle out but what form it will take.
As the discourse around the future trajectory of digital assets deepens, many traders find it imperative to manage day trading alongside full-time commitments to stay ahead, highlighting the rapid evolution and depth of todays financial landscape.
Will decentralized and permissionless digital assets be suppressed in favor of centralized and permissioned digital assets? Will the informal taxation through inflation continue unimpeded? Will smart contracts in CBDC form transmogrify beyond mere payment tools into something else?
This is the current powerplay landscape of global finance. Making the banking system redundant, both central and commercial, cannot go without friction. The present Securities and Exchange Commission (SEC) Chair Gary Gensler best exemplifies that friction.
Following the blockchain (r)evolution, two types of frictions emerged:
One friction rubbed against the other, or more precisely, fed into the other.
When something is of a digital nature, permissionless to boot, it becomes effortless to copy. But that copying often came with a deceptive, scammy tweak. In the fog of thousands of altcoins and relentless crypto scams/exploits that followed, a justified narrative emerged:
This asset class is rife with fraud, scams and abuse in certain applications. We need additional congressional authorities to prevent transactions, products and platforms from falling between regulatory cracks. Gary Gensler, SEC Chair, in August 2021
Having been on the job for three months, this set the stage for DeFis interface with TradFi. At the Aspen Security Forum that month, Gensler laid the groundwork for counteracting the new digital asset class. Interestingly, he opened his speech by recognizing Satoshi Nakamotos historic contribution:
But Nakamoto had solved two riddles that had dogged these cryptographers and other technology experts for a couple of decades since the dawn of the internet. First was how to move something of value on the internet without a central intermediary
And move something of value on the internet without a central intermediary and relatedly, how to prevent whats called double spending of that valuable digital token.
Yet, to place the emerging tokenization sector under the federal fold, Gensler framed it as a threat to national security. One that involves money laundering, tax compliance, sanction. Genslers solution was to exercise the Investment Company Act to designate nearly all cryptocurrencies as securities retroactively.
Well, its basically an anticipation of profits on the efforts of the sponsor or others and so forth. And that is It depends on the facts and circumstance, but that is the story of a lot of these circumstances.
Without any crypto legislation, the SEC ruled by enforcement on that basis. Genslers framework kicked off with Coinbase. A month after the Aspen speech, Coinbase CEO Brian Armstrong publicly put into question SEC conduct.
The gist is that the SECs mission to protect investors, under heightened transparency, turned into obfuscation and selective targeting to set pseudo-crypto law.
The digital asset space underwent major contraction within two years following Genslers pivotal Aspen note. The SEC sanctioned multiple crypto exchanges and digital asset protocols as unregistered securities brokers and clearing houses.
During the period, the SECs investor protection mission failed spectacularly, as evidenced by the multi-billion losses of funds in FTX and Celcius, to name a few. Some lawmakers had noticed this pattern, referring to Gary Gensler, SEC Chair:
This guy in my mind, is a bad-faith regulator. Hes been blindly spraying the crypto community with enforcement actions while completely missing the truly bad actors. Congressman Tom Emmer, House Majority Whip
Soon after, together with Warren Davidson, Emmer introduced the SEC Stabilization Act in order to remove Gary Gensler following his long series of abuses. In addition to displacing Gensler, the act would limit commissioners to only three seats per political party at any given time. Purportedly, this would prevent the infusion of political agendas into SECs operations.
In the meantime, as the SEC filled the legislative void, the watchdog agency suffered serious legal pushback. The latest legal defeat comes from the federal judge denying SECs appeal in the landmark Ripple Labs case that affirmed XRP as not a security.
If the case had gone into the other direction, the SEC wouldve drastically expanded its leeway to curtail the digital asset class. Moreover, the agency lost the case against Grayscale Investments regarding the refusal to convert Grayscale Bitcoin Trust (GBTC) into an ETF.
The SECs refusal to approve a single Bitcoin ETF has been another signal of bad-faith acting. It has been speculated that legitimizing Bitcoin in this manner would open capital floodgates too much before the digital class arena is under firmer federal oversight.
Another such signal came from the historic FTX crypto fraud involving Sam Bankman-Fried (SBF). The incarcerated ex CEO met with Gensler on multiple occasions, yet failed to notice any red flags. Congressman Tom Emmer suggested that this may have been a ploy to place FTX as the designated dominant market maker in the crypto space.
The connection there is circumstantial for the time being, based on Gary Gensler serving as MIT lecturer under the department of Glenn Ellison. He is the father of Caroline Ellison, SBFs ex partner and Alameda Research CEO.
Alameda served as a slush fund for FTX to funnel customer assets. Caroline Ellison had pleaded guilty to seven counts of fraud in December 2022. It is speculated that her cooperation will secure SBFs conviction in the upcoming trial.
Regardless of how one perceives SECs behavior so far, the agency acted without any crypto legislation, positive or negative. Therefore, to stabilize the crypto market long term with clear rules of engagement, bipartisan effort needs to take place.
This comes from the Bipartisan Blockchain Innovation Project (BBIP). The non-profit organization is co-chaired by Congressman Tom Emmer (R-MN) and Congressman Darren Soto (D-FL).
BBIP aims to both educate lawmakers and to craft a legislative framework that supports the growth of the blockchain industry in the United States. BBIPs work has resulted in multiple bill proposals:
However, as none of the bills have passed as laws, it is unclear if education is the deciding factor in crypto legislation, or is it a matter of timing and politics.
It is safe to say that US lawmakers have been dragging their feet when it comes to setting the rules for the digital asset ecosystem. As the SEC took the steering wheel, long-standing FinTech hubs, from Singapore and Hong Kong to Abu Dhabi, have taken advantage of this.
This is best exemplified with the US-based stablecoin (USDC) issuer Circle. After the SEC charged Binance for multiple violations in June, including for trading Binance USD (BUSD) stablecoin, Circle CEO Jeremy Allaire argued that stablecoins should be exempt from nearly everything is a security SEC onslaught:
The SECs claim that Binance offered and sold its competing stablecoin as an unregistered security raises serious legal questions affecting digital currency and the U.S. economy more broadly. Circles amicus brief to the SEC
As tokenized dollars, stablecoins are the most popular digital asset for daily global transactions. Yet, the off-shore Tether issuer of USDT enjoys the largest capitalization at $83.4 billion, out of which $72.5 billion is backed by US treasuries. This is more than entire countries hold, from Mexico and Australia to Spain and UAE.
For comparison, the US-based Circle stablecoin issuer of USDC has a modest $25.2 billion market cap.
In other words, an offshore company utilizes the very currency the SEC is indirectly protecting as the arm of the central banking system. Therefore, the SEC created such restrictive conditions that going fully offshore is a better bet than enjoying the SECs protection of capital markets.
If this continues, the US is poised to oust the digital asset market via the deadly combo of legislative inaction and regulatory over-action.
Blockchain hype birthed countless scams, yet the foundation stands on firm legs. This is evidenced by blockchain/smart contract application in the central banking system itself upcoming CBDCs.
Because blockchain (r)evolution came from the private sector, spearheaded by Bitcoin, it took TradFi off guard. Once it became clear that digital assets are only poised for growth, regulatory mechanisms sprung into action.
And they had a good reason to do so, amid regular crypto scams. But there is little evidence for beneficial regulatory protection to be found. If anything, regulatory overreach appears to have designated the US market as too burdensome and risky, further pushing digital assets into the gray zone.
For now, the digital US market is running on fumes of its depth, but how long can this last until advantage is permanently lost?
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Bridging the gap: The Gensler controversy and the path to digital ... - CryptoSlate
The Environmental Debate and Its Impact on Bitcoin’s Adoption – Tribune Online
Introduction
In recent years, Bitcoins meteoric rise has sparked intense debates on various fronts, with the environmental impact being one of the most contentious topics. As the world becomes increasingly concerned about climate change and sustainability, the environmental implications of Bitcoin mining have come under scrutiny. This article explores how the ongoing environmental debate is influencing the adoption of Bitcoin and shaping the future of the cryptocurrency landscape. To navigate the financial implications of Bitcoins adoption within the environmental context, a visit to the Immediate Alpha official site can provide essential trading perspectives. Start trading using pro level trading options!
The Rise of Bitcoin and the Emergence of Online Platforms
Bitcoin, the pioneering digital currency, emerged in 2009 through the efforts of an anonymous individual known as Satoshi Nakamoto. Over the years, it has experienced remarkable growth in both value and popularity, drawing the attention of investors and traders from various backgrounds. One of the platforms that played a pivotal role in the widespread acceptance of Bitcoin and other digital assets is an online trading platform recognized for its user-friendly interface and secure transactions. Through this platform, individuals can effortlessly engage in buying, selling, and trading various digital currencies, thus contributing to the overall expansion of the digital currency market.
The Environmental Concerns Surrounding Bitcoin Mining
While Bitcoins success has been impressive, it has not come without consequences. Bitcoin mining, the process by which new Bitcoins are created and transactions are verified, requires massive amounts of computational power. This process is energy-intensive and relies heavily on fossil fuels, leading to significant carbon emissions and contributing to environmental degradation. As a result, environmental activists and experts have raised concerns about the ecological footprint of Bitcoin and its impact on the planet.
A Clash of Ideologies: Environmentalists vs. Crypto Enthusiasts
The environmental debate surrounding Bitcoin has given rise to a clash of ideologies between environmentalists and crypto enthusiasts. Environmentalists argue that the energy-intensive mining process contradicts the global efforts to combat climate change and transition towards renewable energy sources. On the other hand, crypto enthusiasts contend that the traditional financial system also consumes substantial energy and that the environmental impact of Bitcoin is often exaggerated. This ideological divide has added a layer of complexity to the broader debate on the adoption of Bitcoin.
Green Initiatives and the Search for Sustainable Solutions
Amid mounting concerns about Bitcoins environmental impact, some within the crypto community have started exploring green initiatives and sustainable solutions. One such approach is the integration of renewable energy sources into the mining process, reducing the reliance on fossil fuels. Several mining farms have emerged that run on hydroelectric, solar, or wind power, aiming to make Bitcoin mining more sustainable. While these initiatives are commendable, their widespread adoption is still in its early stages.
Regulation: Balancing Innovation and Environmental Responsibility
As the environmental debate intensifies, regulators around the world are paying closer attention to the cryptocurrency market. The potential environmental risks associated with Bitcoin mining have prompted discussions about implementing regulations to ensure greater accountability and responsibility within the industry. Striking the right balance between fostering innovation and safeguarding the environment remains a significant challenge for policymakers.
The Influence on Institutional Adoption of Bitcoin
The environmental debate has had notable effects on institutional adoption of Bitcoin. Some large corporations and institutional investors have expressed concerns about associating themselves with cryptocurrencies that have a perceived negative environmental impact. Consequently, some institutions have hesitated to invest in or accept Bitcoin as a valid payment method. On the other hand, there are also companies and investors who see the potential for greener innovations and view Bitcoin as an essential part of their future investment portfolios.
Educating the Masses: Building Awareness and Responsibility
As the environmental debate continues, building awareness and promoting responsibility among users and investors have become crucial. Educational campaigns about the environmental impact of Bitcoin and the importance of sustainable practices are essential to bring about positive change. Moreover, it is vital for individuals to carefully consider the environmental implications before engaging in Bitcoin transactions.
Technological Innovations: Seeking Eco-Friendly Alternatives
In response to the environmental concerns, technological innovations are continuously being explored to create eco-friendly alternatives for Bitcoin mining. Researchers and developers are exploring consensus mechanisms and algorithms that require less computational power, thus reducing the energy consumption associated with mining. Such advancements could revolutionize the way cryptocurrencies operate, making them more environmentally friendly.
Looking Ahead: The Future of Bitcoins Adoption
As the environmental debate rages on, the future of Bitcoins adoption remains uncertain. While the concerns raised by environmentalists are significant, the crypto communitys determination to find sustainable solutions and the growing interest from institutional investors indicates that Bitcoins journey is far from over. Striking a balance between innovation, regulation, and environmental responsibility will be key to shaping the future landscape of cryptocurrencies.
Conclusion
In conclusion, the environmental debate surrounding Bitcoin has created a complex web of challenges and opportunities. While concerns about its ecological impact persist, the crypto communitys quest for sustainable solutions and the interest from institutional players may pave the way for a greener future for cryptocurrencies. As the world grapples with environmental issues, the dialogue around Bitcoins adoption will undoubtedly continue to evolve, shaping the path of the cryptocurrency market in the years to come.
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The Environmental Debate and Its Impact on Bitcoin's Adoption - Tribune Online
UXUY Sponsored Satoshi Awards Announced, Telegram & TON are … – GlobeNewswire
Singapore, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The prestigious Web3 and cryptocurrency industry summit, TOKEN2049, kicked off in Singapore on September 13, 2023. On the same day, The Satoshi Nakamoto Awards, sponsored by UXUY, held its award ceremony at the Singapore FinTech Association, revealing all the major award winners. UXUY co-founder Jordan was in attendance and presented awards to those winners.
The TON team won Ecosystem of the Year at The Satoshi Nakamoto Awards. John Z from the TON Foundation delivered an acceptance speech at the award presentation. The day of September 13 marked a significant day in Telegram's history, as the social app with 800 million MAU ( Monthly Active Users ) officially launched a new self-hosted wallet called TON Space. This move is set to encourage more people to engage in the cryptocurrency space. John Z gave a demonstration of the wallet at the award ceremony, and the attendees highly praised TON for its contributions to expanding the cryptocurrency ecosystem.
UXUY co-founder Jordan presented The Satoshi Nakamoto Awards - Ecosystem of the Year to the TON team on stage.
Here are all the winners from this year's Satoshi Nakamoto Awards:
Bitcoin
Taproot Wizard - Bitcoin Believer of the Year
Ordinals Protocol - Bitcoin Layer 2 of the Year
Shuning Hong - Bitcoin Researcher of the Year
Contributors
Waterdrip Capital - Outstanding Bitcoin Contributor of the Year
Lido - Outstanding Ethereum Contributor of the Year
UniElon - Outstanding Dogecoin Contributor of the Year
Institutional Investors & Market Makers
A16z - Institutional Investor of the Year
LK Venture - Solid Institutional Investor of the Year
Arcane - Active Institutional Investor of the Year
Tide Capital - Emerging Institutional Investor of the Year
DFW Labs - Market Maker of the Year
Exchanges
Coinbase - Compliance Exchange of the Year
Kraken - Compliance Exchange of the Year in Europe
VDX - Compliance Exchange of the Year in Asia
Pionex - AI Trading Bot of the Year
Trading & Asset Management
Greeks.live - Options Trading Tools of the Year
DeSyn - Asset Management Infrastructure of the Year
Renora Technologies - Profile Management of the Year
TokenUnlocks - The most Valuable on-chain tool of the Year
Marketplace
friend.tech - Marketplace of the year
Blur - NFT Marketplace of the Year
GoDID - DID Marketplace of the Year
ZORA - Emerging NFT Marketplace of the Year
Planckx - Most Innovative GamiFi of the Year
Public Goods
QuestN - GM of the Year ( Growth & Marketing Platform )
Coinlive - Multimedia Community of the Year in Asia
Web3vision - Builder Community of the Year
Akasha - Outstanding Public Goods Contributor of the Year
About UXUY
UXUY is the next-gen decentralized multi-chain trading platform based on MPC wallet and technology. Guided by the philosophy Your Crypto, You Control UXUY offers traders immediate cross-chain trading services for cryptocurrencies and digital asset types across the entire blockchain spectrum. By establishing a stablecoin-centric environment, UXUY provides users with a trading experience akin to traditional CEX platforms. UXUY significantly reduces the barriers to social trading on the blockchain.
About Satoshi Nakamoto Awards
The Satoshi Award is the cryptocurrency industry's first award aimed at recognizing contributors to the decentralized world. It brings together the industry's most outstanding practitioners, innovators, and contributors. They collectively explore the future of the industry, share cutting-edge technological innovations and perspectives, and promote the convergence of ideas and the spark of creativity. At the same time, the award also serves as recognition for the outstanding builders, projects, ecosystems, and investment institutions of the year, working together to create a superior cryptocurrency ecosystem.
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UXUY Sponsored Satoshi Awards Announced, Telegram & TON are ... - GlobeNewswire
The Iceberg of Blockchain Technology | by Adri Shahri | Sep, 2023 – Medium
Dream: An image depicting a visual representation of a blockchain network with interconnected blocks.
In our digital age, blockchain technology has emerged as a transformative force that transcends its origins. This summarized article delves into the ABCs of blockchain, exploring its fundamental structure, why it matters, the motivations driving its adoption, and the historical journey that brought us here. Well also navigate through various types of blockchains and their real-world applications. As we embark on this journey, remember that the world of blockchain is continuously evolving, and its poised to reshape the digital landscape in ways weve yet to fully fathom.
A Glimpse into Blockchains Past
The foundation for blockchain technology can be traced back to the pioneering work of cryptographer David Chaum in the 1980s. Chaums cryptographic research laid the groundwork for concepts related to digital currencies and secure communications. However, the breakthrough moment for blockchain occurred in 2008 when an enigmatic figure known as Satoshi Nakamoto introduced the world to Bitcoin, the first cryptocurrency, and the underlying technology that made it possible: blockchain.
Why Blockchain Matters
Blockchain matters because it represents a paradigm shift in how we approach digital transactions and trust. Traditional systems often require intermediaries to establish trust between parties. Blockchain, however, replaces intermediaries with a decentralized and transparent ledger. It enables secure, tamper-proof transactions, reduces fraud, and enhances transparency in sectors ranging from finance to supply chain management.
The Motivation Behind Blockchain
The motivation behind blockchain is rooted in the need for a more secure, efficient, and inclusive digital ecosystem. Satoshi Nakamotos vision for Bitcoin, the first cryptocurrency powered by blockchain, was to create a decentralized currency free from centralized control. Today, blockchains motivation extends beyond money. It seeks to empower individuals, promote transparency, and redefine how data and assets are managed.
Structure of Blockchain
At its core, a blockchain is a chain of blocks, each containing a list of transactions. These transactions are verified by network participants through a process called consensus. Once verified, transactions are added to a block and linked to the previous block, creating an immutable chain. This structure ensures the integrity of the ledger and prevents tampering.
Types of Blockchain and Real-World Examples
Blockchain comes in various flavors, including public, private, consortium, and hybrid blockchains. Public blockchains, like Bitcoin and Ethereum, are open to anyone and provide transparency. Private blockchains, like those used in enterprise settings, offer control and privacy, like Monero and ZCash. Hybrid blockchains combine features of different types like Ripple.
Example: Ethereum, a public blockchain, enables smart contracts, and self-executing agreements with various applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs).
Applications of Blockchain
Blockchains applications are vast and continue to expand. Cryptocurrencies like Bitcoin and Ethereum revolutionize finance. NFTs redefine ownership and provenance in the art and collectibles world. Supply chain management leverages blockchain to ensure product authenticity. Voting systems (DAOs) use it for transparent and tamper-proof elections. Healthcare adopts it for the secure sharing of medical records.
As we conclude this journey through the ABCs of blockchain, its clear that this technology is more than just a buzzword; its a transformative force. Its impact on finance, supply chains, art, and even democracy is profound. But this is just the beginning. Blockchain is not just a technological innovation; its a catalyst for change. Embrace it, for its potential knows no bounds.
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The Iceberg of Blockchain Technology | by Adri Shahri | Sep, 2023 - Medium
How Bitcoin is boosting financial inclusion & empowering the unbanked – Business Insider Africa
How Bitcoin Boosts Financial Inclusion to Empower the Unbanked
When Satoshi Nakamoto launched Bitcoin, they had this notion in mind. They knew that accessing and using financial services reduces poverty while enhancing economic growth. While Bitcoin dominates the crypto world, other digital currencies have emerged. Some are even products of various countries' central banks. For instance, you can invest and try luck in oil trading with online trading apps like Oil Profit. Nevertheless, many see Bitcoin as the beacon of hope for those with limited access to financial services. Here's why.
Easy Access
Bitcoin allows individuals to access and use financial services from their mobile devices. To set up a crypto wallet and start receiving Bitcoin, you require a Smartphone that connects to the internet. That way, you can receive Bitcoin payments and transfer them. Also, you can join crypto exchanges to trade Bitcoin for profits.
Currently, several decentralized finance platforms provide various services to the unbanked. For instance, you can use these platforms to save money and access loans and insurance without the restrictions of traditional banks.
Faster and Low-Cost Transactions
Conventional financial institutions charge high fees for most transactions, including international remittances. Bitcoin does not require intermediaries because transactions are peer-to-peer, reducing costs significantly. When El Salvador made Bitcoin a legal tender, citizens' remittance costs dropped by 65%. Thus, even small businesses can lower transaction costs by embracing Bitcoin as a payment method.
Besides, Bitcoin transactions are faster because they do not involve intermediaries. Miners validate Bitcoin transactions within minutes. Thus, merchants can receive payments faster and invest funds in their operations by embracing this cryptocurrency.
Borderless Transactions
Bitcoin's decentralized network facilitates cross-border transactions without intermediaries. This cryptocurrency enables individuals to transfer and receive funds globally without traditional bank accounts. And this is particularly beneficial for individuals in places with limited conventional banking infrastructure and migrants.
Financial Empowerment
Satoshi Nakamoto wanted people to enjoy total control over their finances. This cryptocurrency can act as your bank. And you can access it anytime, anywhere. And this is particularly vital for people in places with economic and political instability or limited banking access. Bitcoin enables you to preserve wealth, enjoy financial autonomy, and protect your investment against inflation.
Entrepreneurship Opportunities
The unbanked population can access the global economy by embracing Bitcoin. This digital currency enables individuals to engage in digital entrepreneurship by fostering the creation and growth of new business models. And this promotes economic growth by creating opportunities that individuals can exploit and boost their livelihoods.
Final Word
Bitcoin is a beacon of hope for the unbanked populations in many countries. It promotes financial inclusion by enabling borderless transactions, enhancing access to financial services, empowering people with financial autonomy, and reducing transaction costs. If the unbanked population embraces Bitcoin, it can exploit the opportunities that Bitcoin presents and achieve economic empowerment by participating in global economic activities. Nevertheless, understanding how this virtual currency works and the economic growth opportunities it presents is vital for unbanked and financially excluded people to benefit from it.
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How Bitcoin is boosting financial inclusion & empowering the unbanked - Business Insider Africa
BSV Price Forecast 2023: Can Bitcoin SV Cross $50 Once Again? – The Coin Republic
Bitcoin Cash is a version of Bitcoin BSV follows the original plan of Bitcoin as written by Satoshi Nakamoto. BSV provides speed and reliability for online money and business blockchain uses. BSV has no limit on block size and allows advanced functions such as tokens, smart contracts, and computation. BSV is the closest to the original Bitcoin design.
Bitcoin SV crypto plummeted by 3.82% in market value and surged by 11.59% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and information website. Its market value is $557,013,160 and its trading volume is $16,078,393. There are 19,266,077 BSV in circulation.
Bitcoin SV (BSV) open interest is $7.23 Million, as per Coinglass, which is a crypto analysis website, it fell by 4.86% in the previous session. The long versus short ratio for 24 hours is 0.9897.
The BSV crypto price has been plummeting for the last month by 19.66%, losing its value and creating lower highs and lows and descending.
The BSV crypto price is facing a lot of selling pressure and dropping every day. The bears are dominating and the price is not able to recover and follow trendline resistance. The 50.00% fibo level or $50 was breached in August 2023 and descended significantly.
The BSV crypto price might keep falling and reach or break the support levels of $27 and $23 if it does not maintain the current level and drops more.
On the other hand, if the price holds at the CMP level and breaks above the trendline, then it might reach the nearest target resistance levels of $34 and $40.
At the time of publishing, Bitcoin SV (BSV) is trading below 20, and 50 EMA, showing bearishness on daily charts. RSI is around 35, turned bearish and MACD indicates bearishness to consolidation. Collectively, the indicators view is bearish.
The BSV crypto price prediction shows a negative outlook and a lack of confidence from investors and traders in the daily time frame. Bitcoin SV price action reveals a downward trend at the time of writing. Moreover, the daily chart shows that the price will keep going down, according to the most trusted and widely used technical tools such as RSI, EMA, and MACD.
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they dont establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
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BSV Price Forecast 2023: Can Bitcoin SV Cross $50 Once Again? - The Coin Republic
What is The Difference Between Cryptocurrencies and Central Bank Digital Currencies? – TechRound
Examining the World of Cryptocurrencies: Bitcoin and Beyond
Cryptocurrencies have gained significant attention and popularity in recent years. Bitcoin, the first and most well-known cryptocurrency, was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Since then, thousands of other cryptocurrencies have emerged, each with its own unique features and purposes.
Unlike traditional fiat currencies issued by central banks, cryptocurrencies are decentralised and operate on a technology called blockchain. Blockchain is a distributed ledger that records all transactions made with a particular cryptocurrency. This technology ensures transparency, security and immutability of transactions.
While Bitcoin remains the dominant and largest cryptocurrency by market cap, other digital currencies such as Ethereum, Ripple and Litecoin have also gained significant traction. These cryptocurrencies offer different functionalities and use cases, ranging from smart contracts and decentralised applications (DApps) to cross-border remittances and faster transaction confirmations. You can learn more about these cryptocurrencies and everything in the cryptoverse onCoinNewsand other crypto news aggregator sites.
Central bank digital currencies are digital representations of a countrys fiat currency issued by its central bank. Unlike cryptocurrencies, CBDCs are centralised and controlled by the respective central bank. CBDCs aim to combine the benefits of digital currencies, such as faster and more efficient transactions, with the stability and trust associated with traditional fiat currencies.
CBDCs can be categorised into two main types: wholesale CBDCs and retail CBDCs. Wholesale CBDCs are restricted to financial institutions and are primarily used for interbank transactions and settlements. Retail CBDCs, on the other hand, are accessible to the general public and can be used for everyday transactions, similar to cash or digital payment methods.
Several countries, including China, Sweden and the Bahamas, have already started experimenting with CBDCs. China, for example, has been piloting its digital yuan, also known as the Digital Currency Electronic Payment (DCEP), in various cities. These initiatives aim to explore the potential benefits and challenges of CBDCs and pave the way for their future implementation.
While CBDCs offer various advantages, such as increased financial inclusion and reduced transaction costs, they also raise concerns regarding privacy and security. Unlike cryptocurrencies, which provide pseudonymity and privacy, CBDCs can potentially enable central banks tomonitor and track every transactionmade with the digital currency.
Privacy concerns arise from the fact that CBDCs can provide central banks with detailed information about individuals spending habits and financial activities. This level of surveillance raises questions about personal privacy and the potential misuse of data by central authorities.
Security is another crucial aspect to consider when it comes to CBDCs. As digital currencies, CBDCs are susceptible to cyber-attacks and hacking attempts. Central banks must implement robust security measures to protect the digital infrastructure and ensure the integrity of the CBDC system.
The global financial landscape is undergoing a significant transformation, with an increasing number of central banks exploring the possibility of issuing CBDCs. The potential benefits of CBDCs, such as increased financial inclusion, reduced transaction costs and improved monetary policy effectiveness, are driving this shift toward widespread adoption.
CBDCs have the potential to revolutionise the way people transact and interact with money. They can provide a secure and efficient digital payment infrastructure, enable faster cross-border transactions and enhance financial stability. Additionally, CBDCs can facilitate the integration of unbanked populations into the formal financial system, promoting financial inclusion and economic development.
However, the implementation of CBDCs also poses challenges and requires careful consideration. Central banks must address privacy concerns, ensure robust security measures and navigate the complex regulatory landscape surrounding digital currencies.
In conclusion, cryptocurrencies and central bank digital currencies represent two distinct approaches to digital money. While cryptocurrencies operate on decentralised blockchain technology, CBDCs are centralised and controlled by central banks. Both have their advantages and challenges, and the future of finance will likely involve a combination of these digital currencies.
As the global shift towards widespread adoption of CBDCs continues, it is essential to carefully evaluate the implications and ensure a balance between innovation, privacy and security.
TechRound does not recommend or endorse any financial products or services. All articles are informational
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What is The Difference Between Cryptocurrencies and Central Bank Digital Currencies? - TechRound