Crypto Guides, Knowledge & Insights

Grayscale’s $550 Million GBTC Unlock: Analysts Question The Price Effects on Bitcoin

With Grayscale Bitcoin Trust (GBTC) biggest BTC unlocking event scheduled to happen in the middle of July, many market analysts and traders are worried about the potential effects of this event on bitcoins price and the crypto market in general.　　However, crypto trading firm, QCP Capital, believes the unlocking will not pose any significant threat to the markets balance.　　What Is The GBTC Unlock？　　Grayscale Bitcoin Trust is the largest traded crypto fund in the world, owned by leading crypto asset manager Grayscale Investments, LLC. The investment vehicle allows both individual and institutional investors to engage in bitcoin trading without having direct exposure to the crypto asset.　　Accredited investors can buy shares of the fund directly and then sell them after a six-month lockup on a secondary market under the ticker GBTC.　　The GBTC fund became very popular among investors because it was the only public market vehicle available for trading BTC and was considered the next best thing to a Bitcoin Exchange-Traded Fund (ETF), especially since US regulators are yet to approve such a product despite multiple applications.　　Due to the lack of alternatives, GBTC shares are often traded at a premium to the value of bitcoin on spot markets. However, the tables have turned

2021-07-12Deep Dive

Regulators Going After Binance: Real Threat For The Crypto Industry or Just FUD?

Binance, the worlds largest cryptocurrency exchange by trading volume for recent years, has faced lots of scrutiny from various watchdogs lately.　　Keeping in mind that it‘s one of the most important companies in the crypto industry, as of today, it’s worth exploring what could be the impact of this threat for the entire industry, or whether its just a temporary FUD.　　The Growing List of Regulators After Binance　　Founded in 2017 following a successful $15-million ICO, Binance exchange quickly rose to fame by attracting a massive market share in terms of spot, and later, derivatives trading volume. With the impressive growth, though, came the attention from global regulators, some of which have issued warnings or officially taken actions against the exchange.　　The situation escalated recently with the United Kingdoms Financial Conduct Authority (FCA) leading the pack. The watchdog issued a warning to Binance Markets Limited and the Binance Group, indicating that they could not operate in the country.　　Shortly after, though, the popular exchange responded by highlighting that “BML is a separate legal entity and does not offer any products or services via the Binance.com website.” Basically, nothing had changed, the company said.　　Despite the firms reassurance, though, more watchdogs joined the trend. Japan was among

2021-07-12Deep Dive

Why ‘Crypto Bans’ Are Becoming Less Noticeable On Market Movements

The death of cryptocurrencies has long been prognosticated and it is proving even harder to bring down this drive.　　As expected, every new invention despite receiving a warm reception by those it seeks to deliver faces opposition from the forces that be as they fight to retain control and maintain the status quo.　　“Bitcoin has been banned many times in many geographies, and yet today, adoption is outpacing internet adoption” – Alyse Killeen.　　Succinctly put, cryptocurrencies are a force to reckon with and any ban has only served in strengthening their popularity and use around the world.　　This has prompted governments to reconsider their previous positions on their utility as some decide to adopt and regulate them as opposed to blindly opposing their use.　　Owing to the continued strength and adoption of Bitcoin despite being banned in some major countries such as China some lessons can be learned as to why these bans keep failing.　　You cannot ban the blockchain, its code　　Unlike music or other physical files which can be destroyed physically and production or use restricted, cryptocurrencies are built on a blockchain which is a set of codes. Code cannot be banned since it resides in this technology that allows people to exchange cryptocurrency directly

2021-07-12Deep Dive

Survey: Financial Sector Wants Ukraine’s CBDC to Facilitate Transactions in the Crypto Market

A survey conducted among financial professionals has indicated that the industry wants Ukraines future digital currency to be used as a tool in the crypto space. The financial sector also favors a blockchain design for the e-hryvnia that would allow peer-to-peer transfers and fuel e-commerce.　　Financial Experts Define Potential Uses of Ukraines Digital Currency　　The National Bank of Ukraine (NBU) has published the results of a survey aimed to establish the potential demand for a central bank digital currency (CBDC). The regulator sent out a set of 30 questions to 100 financial experts with various backgrounds – financial markets, corporate and retail business, public sector, and crypto business.　　The poll also had to identify possible use cases for the e-hryvnia. NBU was among the first central banks to start exploring options to issue its own digital currency. It launched a study back in 2016 and then tested a CBDC in retail payments two years later. “We already have practical experience in implementing a pilot project to issue e-hryvnia in 2018,” the Chairman of the NBU Kyrylo Shevchenko noted, elaborating:　　“To find the really popular options and niches for the e-hryvnia and to determine the potential effect of its implementation, we decided to hear the

2021-07-12Deep Dive

Apa Itu Ethereum Classic (ETC)?

Kalau nak tahu, serangan DAO boleh dianggap sebagai serangan terbesar dalam sejarah kripto kerana disinilah bermulanya perubahan radikal yang disokong oleh pengasas Ethereum, Vitalik Buterin dan Gavin Wood.　　Ethereum akhirnya melalui proses hard fork yang mana rangkaian terdahulu dikenali sebagai Ethereum Classic, menggunakan ETC sebagai koin natif dan yang terbaru dikekalkan sebagai Ethereum (ETH). Usaha ini dilakukan bagi tujuan untuk memulangkan semula dana yang telah dicuri kepada pemilik asal.　　Ethereum Classic (ETC) vs Ethereum (ETH)　　Secara jelasnya, ETH dan ETC tidak memiliki perbezaan yang ketara. Misalnya, pembangun boleh menggunakan kod sumber terbuka (open-source code) untuk membina dan menjalankan aplikasi desentralisasi (dApps), termasuk mencipta token ERC-20 untuk aplikasi mereka.　　Malah pengguna Ethereum Classic boleh menggunakan ETC untuk membayar kos transaksi, sama seperti matawang kripto yang lain selagi ia masih memiliki nilai.　　Namun, apa yang membezakan kedua-dua aset ini ialah Ethereum Classic agak terhad dalam ‘menyertai’ kemaskini pada blockchain Ethereum. Secara mudahnya, Ethereum Classic iaitu rangkaian terdahulu tidak boleh mengakses sebarang kemaskini yang diaplikasikan di rangkaian baharu, Ethereum.　　Dan perbezaan yang lainnya boleh dilihat sendiri bagaimana Ethereum lebih menjadi pilihan pelabur berbanding Ethereum Classic walaupun kedua-duanya menyokong kontrak pintar (smart contracts).　　Jika anda tertanya, adakah ETC masih relevan？ Sebenarnya bergantung kepada pemahaman anda bagaimana ETC boleh bertahan untuk jangka

2021-07-12Deep Dive

Thete 3.0 Pembakaran TFUEL Selepas Pelancaran Mainnet

Rangkaian Theta menyediakan perkhidmatan streaming terdesentralisasi sumber terbuka dengan visi menyediakan pengguna aliran berkualiti tinggi tanpa penyangga dan dengan kos terendah.　　Ini membolehkan pengguna menonton kandungan video dan memperoleh ganjaran token untuk menyampaikan, atau berkongsi kandungan, dan lebar jalur dengan pengguna lain. Ini menggunakan sistem hibrid di mana kandungan dapat disampaikan menggunakan “node caching” yang memberikan kepada penonton berdasarkan jarak geografi.　　？？　　Theta Fuel, atau TFuel, adalah token utiliti utama rangkaian, dan satu digunakan untuk membuat, membeli, dan menjual aset digital di platform.　　Pengguna yang memberikan sedikit lebar jalur dan kekuatan pengkomputeran untuk berbagi data ke rangkaian disebut “Edge Nodes”. Mereka dihargai dalam TFuel yang digunakan untuk menjaga jaringan tetap berjalan sebagai mekanisme biaya atau jenis gas.　　Platform streaming bayar Edge Nodes dalam TFuel kerana node membolehkan platform melewati pusat data terpusat yang digunakan oleh syarikat teknologi.　　Peningkatan v3 telah memperkenalkan peningkatan seperempat pembayaran ini yang akan mempengaruhi ekonomi model token.　　Langkah itu dapat mengurangkan penawaran TFuel, yang saat ini tidak mempunyai had atas penawaran dan mempunyai kadar inflasi tahunan 5%.　　Kemas kini utama lain ke v3 membolehkan pengguna mempertaruhkan TFuel ke Edge Node untuk menaik tarafnya menjadi Elite Edge Node. Elite Edge Nodes ini dapat memperoleh TFuel tambahan melalui TFuel bertingkat mereka yang mendorong penggunaan dan

2021-07-12Deep Dive

Blockchain can help publishers improve audience trust

By implementing timestamping and blockchain technology, media and publications can increase their readers assurance.　　Readers expect their news content to be reliable and trustworthy, yet many doubt it actually is. Readers cite issues like unchecked sources, rushing too fast to print, careless reporting and news sites being deliberately misleading as contributing to their eroding trust in published content. Yet readers seek out — and are even willing to pay for — credible, factual, objective news. Increased trust will come from providing more transparency into the reporting and writing process, and the solution to this for news sites will come from an unusual source: blockchain technology.　　 State of trust in publishing today　　We recently conducted a report called “Trust in Digital Publishing” that sought to uncover how readers currently feel about the news sites they follow, the stories they see and how credible they think the sites are. We found that 61% of those surveyed want better fact-checking and more focus on accuracy from the news sites they follow. They believe that news sites publish inaccurate information due to inexperienced journalists or bad practices, and 35% think that news organizations dont have the best interests of their readers in mind. Meanwhile, 42% have

2021-07-12Deep Dive

DeFiDrop Offers a Safety Net against Dangers in Alternative Financial System

The Bank of International Settlements (BIS) had something to say about cryptocurrencies in general and Bitcoin in particular. But, unfortunately, it wasnt very flattering.　　Lets start at the beginning, however. Every country (or association of countries like the European Union) has a central bank that issues the legal tender of the land. In the US, its the Fed, for instance. This organ issues the local currency and is also in charge of monetary policy.　　Those central banks of the world came together to create the Bank of International Settlements. You can think of it as the worlds meta central bank - the bank that can be the central bank for the worlds central banks. This organization is 91 years old, and while its far removed from street economics, it remains an influential authority when it comes to money.　　BIS had something good to say about blockchain technology. First, it encouraged the worlds central banks to create their own digital currencies to help the public maintain its trust in the monetary system. Then it recognized that the world is not the same and that alternative currencies are becoming attractive for the people.　　BIS declared that cryptocurrencies are not money at all. Instead, it said they

2021-07-12Deep Dive

El Salvador Could Face ‘Limitation’ on Bitcoin’s Use as Medium of Exchange: JPMorgan

Global investment bank JPMorgan says bitcoin‘s use in El Salvador’s economy faces headwinds, suggesting a potential “limitation” on its use case as a medium of exchange may emerge.　　In a report by the bank on Thursday and reported by Bloomberg Sunday, JPMorgan said problems could arise due to the fact that much bitcoin is tied up in illiquid entities, 90% of which hasnt changed hands in over a year.　　The bank points to daily payment activity in the country which would represent around 4% of recent on-chain transaction volume and over 1% of the total value of tokens that have transferred between wallets in 12 months.　　This represents “potentially a significant limitation on its potential as a medium of exchange,” JPMorgan said.　　El Salvadors legislature voted and passed its Bitcoin Law on June 8 that will see the country formally adopting the crypto as legal tender on Sept. 7.　　Some critics are questioning the move by the countrys President Nayib Bukele, who initiated the bill, while others argue it violates their constitutional rights.　　JPMorgan also outlined a recent survey showing a majority of Salvadorans viewed the new law as “not at all correct” with a further 46% of those polled saying they had no idea what

2021-07-12Deep Dive

World Bank, IMF Advocate For CBDC Adoption At G20

On Friday, the International Monetary Fund (IMF) and the World Bank argued for the cross-border benefits of central bank-issued digital currencies (CBDC), claiming that projects like the United States digital dollar would aid global development.　　World Bank And IMF Support CBDC　　Together with the Bank for International Settlements (BIS), the two global organisations released a paper saying that coordination on digital currencies will upend the status quo of needing to rely on expensive and delayed money transfer services to transport money throughout the world.　　“Faster, cheaper, more transparent and more inclusive cross-border payment services would deliver benefits for citizens, businesses, and economies worldwide,” said Indermit Gill, World Bank Group vice president of equitable growth, finance and institutions.　　The technology allows the Bank of England‘s deputy governor for financial stability, Sir Jon Cunliffe, to “start with a ’clean slate” when it comes to strengthening the payments system, he added.　　The paper was developed for a G20 summit in Italy, which brought together finance ministers and central bankers from the worlds top nations.　　The paper envisions a central bank digital currency environment in which currencies can be quickly and at any moment exchanged. Digital currencies could provide the same services to retail customers that central banks provide swap

2021-07-12Deep Dive

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