Big Macs for stacking Sats: Bad Crypto news of the week

Big Macs for stacking Sats: Bad Crypto news of the week

Bitcoin continues its bull run. The coin is up more than 12 percent over the last week and is now tickling $16,000. According to the Big Mac Index, a Bitcoin will now buy as many as 6,3421.26 of the giant burgers. It’s even passed the monetary base of the Russian ruble, and is on its way towards beating Canada. That will happen when Bitcoin is worth $18,000. It’s almost there. The coin already has a market cap bigger than that of Bank of America, Netflix, and Shopify. If it keeps rising, it will soon be in the top 20 assets by market cap, alongside Facebook, Tesla, and Apple. It’s no wonder that economists at the US Federal Reserve are looking harder at the value of CBDCs. They think that a central bank digital currency could be a useful way to deliver money directly to households.

Not everyone is so optimistic. Eric Wall, chief investment officer of crypto hedge fund Arcane Asset, is betting a million dollars that Bitcoin’s stock-to-flow model will be broken by 2025. By “broken” he means that Bitcoin won’t have reached 50 percent of its target range. In a tweet laying out the challenge, he tagged in PlanB, the creator of the model. PlanB had predicted a Bitcoin price of $100,000-$288,000 by December 2021. David Schwartz, CTO of Ripple, won’t be taking that bet. He says that he has already lost about $300,000 trading in tokens that turned out to be “completely worthless.”

The public still isn’t entirely persuaded either. Douglas Tuman, a crypto enthusiast and Monero podcaster, lost his bid for New York’s 4th District. He was running as a Republican on a pro-crypto platform. Joe Biden, though, has selected Gary Gensler to serve as an advisor, helping to ensure a smooth transition with the Federal Reserve and banking and securities regulators. Gensler was previously the chairman of the Commodity Futures Trading Commission and has talked about the importance of regulation to help cryptocurrencies grow.

Regulations have already landed on one Bitcoin user. Volodymyr Kvashuk, a Microsoft engineer, has been sentenced to nine years in prison for stealing $10 million of digital currency. He also told the IRS that the $2.8 million of cryptcurrency that passed through his account was a gift from a relative. That made this crime the first crypto conviction with a tax element.

Looking abroad, the China Construction Bank, one of the four biggest banks in China, is selling $3 billion worth of bonds and letting buyers pay for them with Bitcoin. The World Economic Forum sees the blockchain as the key to sustainable digital finance. And ZebPay, India’s oldest cryptocurrency exchange, is launching its own NFT and starting an NFT marketplace.

It’s not all good news, though. Binance has started to block US users from its platform. Users have 90 days to withdraw their funds. The blockade is the result of US regulators’ demands for the implementation of Know Your Customer and anti-money laundering requirements. And in Hong Kong, a proposal to require crypto exchanges to obtain a license and only target professional investors has met with criticism. The proposal, say some experts, will limit volume and suggest that crypto assets are speculative.

Finally, while the last few weeks have been pretty eventful for Bitcoin, Bitcoin Cash is about to have its moment. The coin hard forks in November 15. Make sure you’re ready.

Listen to the podcast here. 

Source: cryptotimeless.com

Author: by admin


Crypto Analyst Expects Ethereum and DeFi to Go on a “Stupid Run”

Crypto Analyst Expects Ethereum and DeFi to Go on a “Stupid Run”

The decentralized finance sector has posted massive gains throughout the past week, with all the “blue-chip” tokens seeing explosive momentum as bulls flood back into the embattled fragment of the crypto market at full speed.

This rebound first began when DeFi darling Yearn.finance’s YFI token hit lows of $7,500, at which point it incurred some massive momentum that sent it skyrocketing towards highs of $18,000.

It has since stabilized and is trying to post a high time frame close above this crucial level. If firmly broken and held above over an extended period of time, it could provide a base for it to grow upon that allows it to set fresh all-time highs.

In tandem with the price spikes seen by many crypto tokens within the ecosystem, liquidity providers’ yields on decentralized trading platforms have also rocketed.

This has justified the price movements seen by DeFi tokens and could create a tailwind to lift them higher.

One trader is now noting that he expects DeFi crypto assets to go on a “stupid run” in the near-term as the rest of the market shows continued strength.

He believes that the stability currently seen by Bitcoin, and a massive Ethereum rally, will incubate this next movement.

The rebound seen throughout the larger DeFi tokens as of late can be seen while looking towards the DeFi perpetual index on FTX, which tracks the value of a handful of the top projects within the sector.

This contract bottomed at lows of $1,400 a couple of weeks ago and is currently trading at $2,160.

At its peak in late-August, the DeFi index reached highs of $3,500. Although it has a way to go before it reclaims these high, the recent lows are looking like a long-term bottom.

One analyst explained that he believes DeFi tokens are on the cusp of rocketing higher in the near-term, which will be incubated by Ethereum seeing a “stupid run.”

“Right now there is broad market strength in Defi blue chips, ETH, and Bitcoin. ETH looks like it wants to go on a stupid run. Send this and SNX YFI RUNE AAVE UNI all go bonkers to say the least,” he said.

Ethereum

Image Courtesy of Cantering Clark.

Where Ethereum trends next will undoubtedly influence the broader DeFi market. Any continued strength could send smaller tokens rocketing higher.

Source: inula.org

Author: About The Author

admin


Easy steps to maintain your crypto protected

Easy steps to maintain your crypto protected

Because the cryptocurrency market is within the midst of a serious bull run with Bitcoin (BTC) approaching its all-time highs, the safety considerations of cryptocurrency self-storage have gotten extra related than ever.

On Nov. 12, Bitcoin — the world’s largest cryptocurrency by market cap — surpassed a $16,000 threshold for the primary time for the reason that 2017 rally touchdown BTC worth at an ATH of $20,000. After hitting $16,300, Bitcoin has solely ever been above this worth for 12 days in its total historical past.

As Bitcoin is now sitting at its highest historic ranges and the crypto neighborhood is anticipating extra data within the close to future, you will need to keep in mind that the security of crypto holdings very a lot relies on the consumer.

Listed below are some easy steps to make sure that your cryptocurrencies like Bitcoin are protected on this bull market.

1. Use paper pockets or {hardware} pockets

As Bitcoin primarily permits to “be your personal financial institution,” the duty of storing crypto primarily lies with customers. A well-liked expression within the crypto neighborhood says “Not your keys, not your Bitcoin,” that means that whoever holds the important thing phrase to a pockets, controls the cash contained therein.

Wallets are available many types: software program, {hardware}, and paper, every with completely different safety issues.

What cryptocurrency will become the main one in a year?
BitcoinEthereum

As their identify suggests, software program wallets are based mostly on software program, permitting customers to entry their crypto by putting in functions on their cellular gadgets or a pc. As such, software program wallets are available many differing kinds like internet, desktop, and cellular wallets.

Whereas software program wallets are sometimes free and simple to make use of, they aren’t utterly protected as most of them are in some way related to the web, which might make them susceptible to hacking assaults or safety breaches. Customers ought to maintain their apps up-to-date in an effort to scale back dangers of potential breaches.

A paper crypto pockets is basically a chunk of paper containing a printed out crypto handle and its personal key within the type of QR codes generated by paper pockets web sites. These codes might be scanned to execute crypto transactions. A paper pockets is very proof against on-line hacking assaults and is usually thought of an choice to chilly storage.

A {hardware} pockets is one other subtle methodology to retailer crypto, isolating consumer personal keys from the web by conserving them offline in a USB-connected gadget. Additionally known as chilly storage or a chilly pockets, a {hardware} pockets is usually related to an elevated degree of safety as personal keys stay utterly offline, which is designed to make them proof against any kind of distant hacking. Trezor and Ledger are thought of the preferred {hardware} pockets suppliers.

2. Verify whether or not your 2FA verification is on

Don’t ignore a key extra layer of safety by forgetting to activate two-factor authentication, or 2FA, within the safety settings of your pockets account. 2FA sends an extra password request to your cellphone or e mail each time you log into your pockets. By activating 2FA, a consumer prevents a hacker from getting speedy entry to a crypto pockets account because the hacker may even want bodily entry to the consumer’s cellphone or e mail.

Google Authenticator is the one of the vital widespread 2FA functions offering customers two-step verification on a cellphone.

3. By no means share your personal keys

Don’t ever give your personal keys or a seed phrase to anybody. By doing so, you’d be primarily gifting away the keys to the citadel. Do not forget that respected crypto firms won’t ever ask you in your keys even when making an attempt that can assist you resolve points.

4. Ensure the recipient pockets is right

At all times test a recipient handle earlier than continuing with a transaction. A easy one letter mistake may direct your transaction to a different pockets. In distinction to some conventional monetary providers, most crypto transactions are irreversible. Some malware can be able to altering the suitable vacation spot of your crypto, so a double-check of transaction particulars isn’t redundant.

5. Don’t fall for giveaway scams

Don’t ever fall for presents sounding like “ship us Bitcoin and get double your Bitcoin again.” Any such assault is sort of commonon Twitter, with attackers regularly impersonating celebrities, politicians, or crypto personalities promising to double consumer’s crypto fortune.

As the sort of assault is usually related to crypto newcomers, it’d get much more publicity with an rising crypto adoption. In July 2020, on-line hackers managed to gather at the least 12 BTC in a high-profile hack of Twitter accounts like Elon Musk in addition to 2020 U.S. presidential candidate Joe Biden.

6. Use smaller transactions and completely different exchanges

Don’t ship a bunch of crypto in a single single transaction when you might want to purchase or promote crypto on a crypto change. If you might want to transact an enormous sum of money in crypto, higher break it up into a number of transactions to make sure that an change is working correctly.

Whereas all of those safety layers and double-checking may appear tedious, they’re the important thing to creating positive your funds stay safe. 

Source: bitcoinflashnews.com

Author: By admin


Simple steps to keep your crypto safe – securebitcoinnews

Simple steps to keep your crypto safe – securebitcoinnews

As the cryptocurrency market is in the midst of a major bull run with Bitcoin (BTC) approaching its all-time highs, the security concerns of cryptocurrency self-storage are becoming more relevant than ever.

On Nov. 12, Bitcoin — the world’s largest cryptocurrency by market cap — surpassed a $16,000 threshold for the first time since the 2017 rally landing BTC price at an ATH of $20,000. After hitting $16,300, Bitcoin has only ever been above this price for 12 days in its entire history.

As Bitcoin is now sitting at its highest historical levels and the crypto community is anticipating more records in the near future, it is important to remember that the safety of crypto holdings very much depends on the user.

Here are some simple steps to ensure that your cryptocurrencies like Bitcoin are safe in this bull market.

1. Use paper wallet or hardware wallet

As Bitcoin essentially allows to “be your own bank,” the responsibility of storing crypto mainly lies with users. A popular expression in the crypto community says “Not your keys, not your Bitcoin,” meaning that whoever holds the key phrase to a wallet, controls the coins contained therein.

Wallets come in many forms: software, hardware, and paper, each with different security considerations.

As their name suggests, software wallets are based on software, allowing users to access their crypto by installing applications on their mobile devices or a computer. As such, software wallets come in many different types like web, desktop, and mobile wallets.

While software wallets are often free and easy to use, they are not completely safe as most of them are somehow connected to the internet, which can make them vulnerable to hacking attacks or security breaches. Users should keep their apps up-to-date in order to reduce risks of possible breaches.

A paper crypto wallet is essentially a piece of paper containing a printed out crypto address and its private key in the form of QR codes generated through paper wallet websites. These codes can be scanned to execute crypto transactions. A paper wallet is highly resistant to online hacking attacks and is often considered an option to cold storage.

A hardware wallet is another sophisticated method to store crypto, isolating user private keys from the internet by keeping them offline in a USB-connected device. Also referred to as cold storage or a cold wallet, a hardware wallet is often associated with an increased level of security as private keys remain completely offline, which is designed to make them immune to any type of remote hacking. Trezor and Ledger are considered the most popular hardware wallet providers.

2. Check whether your 2FA verification is on

Don’t ignore a key additional layer of security by forgetting to turn on two-factor authentication, or 2FA, in the security settings of your wallet account. 2FA sends an additional password request to your phone or email every time you log into your wallet. By activating 2FA, a user prevents a hacker from getting immediate access to a crypto wallet account as the hacker will also need physical access to the user’s phone or email.

Google Authenticator is the one of the most popular 2FA applications providing users two-step verification on a phone.

3. Never share your private keys

Don’t ever give your private keys or a seed phrase to anyone. By doing so, you’d be essentially giving away the keys to the castle. Remember that reputable crypto companies will never ask you for your keys even when trying to help you resolve issues.

4. Be sure the recipient wallet is correct

Always check a recipient address before proceeding with a transaction. A simple one letter mistake could direct your transaction to another wallet. In contrast to some traditional financial services, most crypto transactions are irreversible. Some malware is also capable of changing the right destination of your crypto, so a double-check of transaction details is never redundant.

5. Don’t fall for giveaway scams

Don’t ever fall for offers sounding like “send us Bitcoin and get double your Bitcoin back.” This type of attack is quite commonon Twitter, with attackers frequently impersonating celebrities, politicians, or crypto personalities promising to double user’s crypto fortune.

As this type of attack is often associated with crypto newcomers, it might get even more exposure with an increasing crypto adoption. In July 2020, online hackers managed to collect at least 12 BTC in a high-profile hack of Twitter accounts like Elon Musk as well as 2020 U.S. presidential candidate Joe Biden.

6. Use smaller transactions and different exchanges

Don’t send a bunch of crypto in one single transaction when you need to buy or sell crypto on a crypto exchange. If you need to transact a big amount of money in crypto, better break it up into multiple transactions to be sure that an exchange is working properly.

While all of these security layers and double-checking might seem tedious, they’re the key to making sure your funds remain secure. 

Source: securebitcoinnews.com


Crypto Analyst Expects Ethereum and DeFi to Go on a “Stupid Run”

Crypto Analyst Expects Ethereum and DeFi to Go on a “Stupid Run”

The decentralized finance sector has posted massive gains throughout the past week, with all the “blue-chip” tokens seeing explosive momentum as bulls flood back into the embattled fragment of the crypto market at full speed.

This rebound first began when DeFi darling Yearn.finance’s YFI token hit lows of $7,500, at which point it incurred some massive momentum that sent it skyrocketing towards highs of $18,000.

It has since stabilized and is trying to post a high time frame close above this crucial level. If firmly broken and held above over an extended period of time, it could provide a base for it to grow upon that allows it to set fresh all-time highs.

In tandem with the price spikes seen by many crypto tokens within the ecosystem, liquidity providers’ yields on decentralized trading platforms have also rocketed.

This has justified the price movements seen by DeFi tokens and could create a tailwind to lift them higher.

One trader is now noting that he expects DeFi crypto assets to go on a “stupid run” in the near-term as the rest of the market shows continued strength.

He believes that the stability currently seen by Bitcoin, and a massive Ethereum rally, will incubate this next movement.

The rebound seen throughout the larger DeFi tokens as of late can be seen while looking towards the DeFi perpetual index on FTX, which tracks the value of a handful of the top projects within the sector.

This contract bottomed at lows of $1,400 a couple of weeks ago and is currently trading at $2,160.

At its peak in late-August, the DeFi index reached highs of $3,500. Although it has a way to go before it reclaims these high, the recent lows are looking like a long-term bottom.

One analyst explained that he believes DeFi tokens are on the cusp of rocketing higher in the near-term, which will be incubated by Ethereum seeing a “stupid run.”

“Right now there is broad market strength in Defi blue chips, ETH, and Bitcoin. ETH looks like it wants to go on a stupid run. Send this and SNX YFI RUNE AAVE UNI all go bonkers to say the least,” he said.

Ethereum

Image Courtesy of Cantering Clark.

Where Ethereum trends next will undoubtedly influence the broader DeFi market. Any continued strength could send smaller tokens rocketing higher.

Source: icryptodesk.com

Author: admin


Here's Why PayPal Is Not Supporting Fourth-Largest Crypto Asset XRP

Here’s Why PayPal Is Not Supporting Fourth-Largest Crypto Asset XRP

Crypto enthusiasts wondering why PayPal has skipped over the fourth-largest cryptocurrency by market cap, XRP, are getting some answers.

PayPal has partnered with the crypto exchange and stablecoin issuer Paxos Trust Company to allow its millions of users in the US to buy, sell and store Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

In a new interview on the Unchained Podcast, Paxos CEO and co-founder Charles Cascarilla says the two companies are, in part, looking to the Securities and Exchange Commission (SEC) to determine which assets to support.

“That’s what [PayPal was] looking for and that’s what we had. We actually have authority to be able to custody and trade additional tokens. We have Pax Gold, which is one of our tokens. We have Pax dollars. So there are other products that we have that weren’t included in the crypto brokers launch. But in terms of pure cryptocurrencies, those are the four that we have that we’re listing on our exchange and really providing custody for.

We’re going to expand those as our customers need more products, but ultimately we want to be customer-driven. There’s a lot of questions as you start to get outside of those four or maybe a handful of others about whether they’re securities or not. And I think that’s always something that maybe creates a little bit of hesitation.

For instance, Bitcoin, Bitcoin Cash as a result, Litecoin, which are very similar, and Ethereum have essentially been grandfathered in by the SEC, Bitcoin explicitly and Ethereum explicitly. And once you start getting away from these top four, there are always a little bit of questions around them. Not just for us, but for the industry in general. So that’s something we need to be sensitive about.”

In addition to the four assets offered by PayPal, the New York State Department of Financial Services (NYDFS), where Paxos is headquartered, has approved four other crypto assets for trading as well.

The eight assets officially approved for trading are Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Binance USD (BUSD), Gemini Dollar (GUSD), Pax Gold (PAXG) and Paxos Standard (PAX).

Although the NYDFS does allow companies to custody XRP, the asset has not yet been cleared for sale and trade. Until that happens, it appears unlikely that XRP will be offered through PayPal anytime soon.

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Source: dailyhodl.com


Big Macs for stacking Sats: Bad Crypto news of the week


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