Creator of Litecoin, Charlie Lee, discussed the upcoming MimbleWimble upgrade which aims at enhancing Litecoin’s privacy and scalability. The creator of Litecoin, Charlie Lee, discussed the upcoming MimbleWimble upgrade which aims at enhancing Litecoin’s scalability and privacy. Lee noted that Litecoin’s upcoming implementation will be able to scale much better than other privacy-focused protocols, like Monero or Z-Cash. “It does privacy and scare very well compared to other implementations”, he said. Talking about the risks involved, Lee pointed out “hidden inflation”, a bug commonly affecting privacy coins which allows hackers…
Read MoreDay: 15 June 2020
Israeli Software Firm Goes Behind Regulator’s Back to Pay $250,000 in BTC Ransom
Israel-based Sapiens reportedly paid in Bitcoins for a ransom requested during an attack that reportedly happened between March and April. An Israel-based company reportedly paid $250,000 in Bitcoin for a ransom payment demanded by hackers that threatened to shut down its systems after a ransomware attack. According to a source quoted by Calcalist on June 14, Sapiens International Corp. N.V. — a Nasdaq and Tel Aviv-listed software company — didn’t report the decision to the securities’ regulators of either the U.S. or Israel. The ransomware attack happened at some point…
Read MoreFather of JOBS Act: Gov’t Was Concerned Libra Could Displace Dollar
The father of the JOBS Act would be happy to help Telegram with an IPO if the company chooses to revert to a traditional fundraising model. David Weild IV, who is known as the father of the JOBS Act, believes that the U.S. government had to move to stamp out Facebook’s Libra stablecoin. Facebook: Number of Active Users. Source: Statista. ‘Government’s got to do something’ In an interview with Cointelegraph, Weild said that when he first heard about Zuckerberg’s initiative, he knew right away that the government needed to step…
Read MoreEthereum Likely to Dive Towards $200 as Overnight Selloff Rattles Market Structure
Ethereum has decline today alongside Bitcoin and the aggregated crypto market, breaking below a key support level that was previously being defended by buyers It now appears that ETH could be well positioned to see even further downside in the days and weeks ahead One technical indicator is forecasting that it will plunge to $200 before it is able to garner any notable buying pressure This could lead it to break below a key support level, and catalyze a far-reaching downtrend Prior to yesterday evening, Bitcoin, Ethereum, and the aggregated…
Read MorePrice Analysis 6/15: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, CRO, ADA
Recent surges in open interest on Bitcoin and Ethereum options contracts suggests institutional players are continuing to build positions in the top two cryptocurrencies. Bitcoin (BTC) futures daily trading volume plunged sharply from about $20 billion on June 11 to about $5 billion on June 13. This is a negative sign because the volume increased during the sharp fall on June 11 but reduced during the rebound on June 12 and 13. On June 14, the top-ranked cryptocurrency on CoinMarketCap declined but the futures volume picked up, suggesting a higher…
Read MoreCFTC Chairman Cautions Against ‘Overly Prescriptive Rules’ for Crypto
Chairman of the CFTC Heath Tarbert calls for principles rather than rules to dictate the government’s handling of digital assets. In a framework published in the Harvard Business Law Review on June 15, Heath Tarbert, Chairman of the Commodity Futures Trading Commission, broadly advocated financial regulation based on broader principles rather than specific rules. The argument for principles The argument for principles is that the approach entails less red tape and, ideally, encourages innovation. Tarbert voiced a desire to see the CFTC “stay ahead of the curve by reacting more…
Read More5 Chinese Banks Say Legal Crypto Traders’ Accounts Will Not Be Frozen as Police Widen Crackdown
Following reports that Chinese authorities are freezing bank accounts of cryptocurrency traders, five banks have reportedly clarified their policies. They confirmed that accounts with legal crypto transactions will not be frozen. However, some people claim that their accounts have been frozen without involvement in illegal activities. Crypto Traders’ Bank Accounts Frozen Chinese police have been freezing the bank accounts and bank cards of over-the-counter (OTC) cryptocurrency traders as they crack down on illicit activities involving cryptocurrencies. News.Bitcoin.com recently reported that about 4,000 bank accounts had been frozen in China’s Guangdong…
Read MoreFraudulent Site Impersonates Encrypted Messaging Service to Steal Bitcoins
A new Bitcoin-related scam emerged through a phishing site that impersonates a self-destructing encrypted notes service. Cybercriminals have reportedly created a fake site version of the legitimate encrypted self-destructing notes service privnote.com. The fake version can be shared with other users to steal Bitcoin. According to a June 14 report from KrebsOnSecurity, the creators of the encrypted notes service complained about a fake clone site, privnotes.com, whose scam scheme consists of the following: “Any messages containing Bitcoin addresses will be automatically altered to include a different Bitcoin address, as long…
Read MoreBitcoin Will Confirm a Massive Bearish Distribution Pattern if it Breaks $8,600
Bitcoin’s long-held consolidation phase came to an end yesterday evening when sellers pushed the benchmark cryptocurrency below $9,000 Although buyers stepped up and quickly defended against further losses, they have been unable to catalyze any type of sharp recovery It now appears that BTC is well positioned to see a notable decline in the days ahead as sellers target the key support at $8,600 If this level is broken below, a massive distribution pattern will have been confirmed and the crypto could be positioned to see major downside Bitcoin and…
Read MoreOrder Types, Explained
Market orders, limit orders, time-in-force instructions and more — all explained in detail for beginning traders. What are post-only orders? One last type of instruction that can be embedded into the logic of an order is the “post-only” option, which makes sure that an order is placed if and only if it cannot be immediately filled. If a buy (or sell) immediately matches an opposite sell (or buy), the orders are crossed, resulting in a trade. Many times, a trader actually does not want to place an order if it…
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