Crypto Guides, Knowledge & Insights

Why U.S. Senator Warren Gave SEC Deadline To Clarify Crypto Regulation

U.S. Senator Elizabeth Warren has been a known crypto adversary. She claims Bitcoin and cryptocurrencies have a negative impact on the environment and facilitate cyber-attacks. She has taken a new step that could change this industry.　　In a letter to the U.S. Securities and Exchange Commission (SEC) Chairman, Gary Gensler, Warren called for “properly” regulations of crypto exchanges. The Senator claims that these entities operate within “gaps”.　　Therefore, U.S. investors and consumers are left to operate in an alleged highly opaque and volatile market. In this country, the interest and demand for cryptocurrencies have been on the rise. In Q1 2021, crypto exchange Coinbase recorded $30 billion in trading volume.　　That number has grown ten-fold within a year. In Q1 2021, the exchange recorded $331 billion in trading volume. Thus, creating “unique risk to consumers”, Warred said. The Senator specifically expressed concerns about the classification of cryptocurrencies.　　Bitcoin is one of the few granted the “Commodity” classification by U.S. regulators. Other digital assets and tokens havent been given the same or any classification. This has been a problem highlighted by developers, investors, and other entities. U.S. authorities have been unable to provide a clear answer.　　Warren and Gensler believe that regulators in the U.S. offer

2021-07-09Deep Dive

Airbnb is exploiting its users, but decentralized alternatives are possible

By aligning hosts and guests in a shared marketplace, decentralized platforms will make good on the promise of the sharing economy.　　Anybody who uses Airbnb knows that the company is resting on its laurels as the first mover in the home-sharing economy 1.0, but its dominance rests atop exploitation of the hosts and guests that are actually doing the sharing and creating the value. The guests pay too much and the hosts are paid too little. The resulting situation is akin to feudalism, rendering hosts as serfs who rent out their homes, keep things clean, deal with guests, and do the actual work. Yet the value derived from Airbnb‘s peer-to-peer exchange goes directly to shareholders who are multiple steps removed from the action on the ground. It’s nothing less than an injustice.　　There‘s a very simple reason for why this is the case. Web 2.0 sharing economies like Airbnb and Uber are forced into whats called the extraction imperative. In the early days of these platforms, they were aligned with their users on both sides of the market, and treated both as partners to kickstart network effects — similar to offering early subsidies to get people on the platform. The peer-to-peer element

2021-07-09Deep Dive

Berikut adalah strategi pilihan yang digunakan pro trader utk ETH sekarang

Rangkaian Ethereum akan mengalami peningkatan besar pada 4 Ogos, kerana fork London yang lama ditunggu-tunggu dijangka dilancarkan di blok 12,965,000. Peralihan ini adalah sebahagian dari peta jalan menuju ke pelepasan Ethereum 2.0, yang bertujuan untuk memindahkan rangkaian ke mekanisme konsensus bukti-kepentingan.　　Dengan tidak lagi bergantung pada perlombongan penggunaan tenaga yang sengit, tujuan utamanya adalah untuk meningkatkan kapasiti rangkaian secara drastik dengan menggunakan pemprosesan selari, juga dikenal sebagai sharding.　　Peningkatan London yang akan datang akan melaksanakan Ethereum Improvement Proposal EIP-1559 yang kritikal, menjadikan kos gas Ether (ETH) lebih dapat diramalkan. Perubahan kontroversial ini merangkumi proses pembebanan yuran transaksi yang berpotensi mengubah Ether menjadi aset deflasi.　　Untuk bulan lalu, harga Ether berada dalam kemerosotan harga walaupun harga pulih dengan baik dari kejatuhan ke $1,500, tetapi para peniaga masih berwaspada untuk membuka posisi. Untuk jenis tindakan harga semasa, strategi pilihan memberikan peluang yang sangat baik bagi pelabur dengan sasaran jarak dekat untuk aset.　　Sebagai contoh, menggunakan kontrak berjangka leveraged boleh menjadi penyelesaian untuk senario di mana seseorang menjangkakan kenaikan harga 20%, tetapi mengehadkan penurunan akan memerlukan stop loss yang ketat. Ringkasnya, ganjaran risiko biasanya tidak membuahkan hasil di pasaran yang tidak menentu.　　Pilihan perdagangan dapat membantu pelabur mengelakkan pembubaran　　Menggunakan pilihan berbilang panggilan (beli) dapat membuat strategi yang memungkinkan

2021-07-09Deep Dive

Bitcoin Poised to Resume Moving to $100,000 in Second Half 2021: Bloomberg’s Mike McGlone Facebook

Chief commodity strategist of Bloomberg, Mike McGlone, has taken to Twitter to share his conclusions as to when the Bitcoin bull market is likely to come back and the worlds flagship cryptocurrency to resume its movement towards $100,000.　　“Bitcoin to resume rising, oil to show bearish reverse in 2H 2021”　　McGlone has shared a chart that shows a trajectory of a futures contract based on Bitcoin against Brent crude oil and a chart of Bitcoin volatility against that of crude oil.　　The economist believes that in the second half of this year, Bitcoin will emerge with a bull market and will resume moving towards the $100,000 price level.　　Crude oil, McGlone expects, is likely to begin declining towards $50 from the current price of $72.10 per barrel.　　This reverses will be based on “profound macroeconomic implications”, the expert tweeted.　　He also pointed out that the main advantages of Bitcoin that are likely to ensure its further growth are advancing technology and deflation that is programmed in BTC.　　314,000 addresses buy 241,000 Bitcoins　　At the time of writing, the major cryptocurrency is changing hands at $32,571, having slipped from the $34,800 level on Wednesday.　　As reported by the IntoTheBlock analytics company in their recent tweet, BTC now has a hard

2021-07-09Deep Dive

Controversial New Overseas Crypto Declaration Law Approved in Spain

The Spanish parliament has approved a controversial new law that will force Spaniards to declare their overseas crypto holdings – as part of a bid to wipe out crypto-related fraud carried out on platforms based outside the country.　　The law, which brings crypto into the much-maligned Modelo 720 system has overcome its final hurdle – and has received approval from the Spanish parliament, the Ministry of Finance said.　　The Modelo 720 system, which has previously received criticism from some others within the EU, compels Spaniards to declare their overseas bank account holdings and real estate, as well as other assets such as stocks. But crypto has now been brought under the same umbrella. Spanish legal experts have attempted to challenge the legality of Modelo 720 in European courts for over six years – but thus far to no avail.　　Failure to report crypto held abroad will incur a fixed penalty of USD 5,900 per offense, according to the terms of the new law. This means that fines could stack indefinitely in the case of Spanish citizens who hold crypto on multiple overseas platforms but fail to declare them on annual forms to be submitted to Spains tax body.　　Meanwhile, an expert has been attempting

2021-07-09Deep Dive

Binance Now Blocked in China

On July 8, many Binance users found out that the website had been banned in China.　　The exchanges mobile app is also inaccessible due to backend API calls being blocked, according to cryptocurrency blogger Colin Wu.　　The countrys “great firewall” now prevents users from accessing the cryptocurrency exchange, meaning that it can only be visited with the help of a virtual private network (VPN) service.　　Image by chinafirewalltest.com　　Notably, Binances rivals, such as Huobi and OKEx, are still available in China.　　As reported by U.Today, keyword searches for Binance and other popular cryptocurrency exchanges got blacklisted by Chinese internet services in early June.　　The Binance ban is part of China‘s major crypto crackdown, which also included eradicating the country’s entire Bitcoin mining industry last month.　　The worlds largest exchange was initially headquartered in China but then had to move abroad due to the 2017 crypto ban.　　Binance is also facing severe regulatory scrutiny around the world. Multiple U.K. banks blocked payments to the trading platform earlier this week.

2021-07-09Deep Dive

Massive Cryptocurrency Mining Farm Busted by Ukrainian Security Service

Ukraines state security service announced on Thursday that it had discovered the countrys biggest illegal mining facility to date in the city of Vinnytsya.　　It was stealing enough electricity to cause blackouts in multiple city areas. According to preliminary estimates, the amount of weekly damages could reach 7 million hryvnias (about $256,500).　　The farm was located in one of the former warehouse buildings of a local energy company.　　According to the investigation, it was set up by miners from Kyiv and Vinnytsya.　　They tempered with electricity meter data in order to conceal their illegal activities.　　3,800 gaming consoles, more than 500 GPUs, 50 CPUs as well as incriminatory documents relevant to electricity theft have all been confiscated.　　Image by ssu.gov.ua　　The law enforcement officials opened criminal proceedings under article No. 188-1 of the Criminal Code of Ukraine.　　As reported by U.Today, U.K. police officers accidentally discovered an illegal mining Bitcoin mining facility while raiding a suspected cannabis farm in May.

2021-07-09Deep Dive

June's web traffic to crypto exchanges sees second-biggest drop since January

Data compiled by The Block shows that Web traffic to cryptocurrency exchanges experienced the second greatest drop in volume since the beginning of this year.　　May had been the record high for web traffic to crypto exchanges, with a huge surge in interest in April.　　But as The Blocks research analyst Lars Hoffman first noted on Twitter, web traffic fell from 638.2 million in May to 369.1 million visits in June — a 42.2% decrease in traffic volume compared to the previous month, according to data gleaned from SimilarWeb.　　Thats nearly as big of a decline as between January and February of this year, which saw a 45.3% decrease in web traffic.　　Binance had the largest share of web traffic at 40.7%, followed by Coinbase with 19.2% and Indodax, an Indonesian crypto exchange, held 3.6%.

2021-07-09Deep Dive

Russia to Bring More Legislation to Crypto — New Bill Allows Crypto Confiscation

Russian officials aim to develop a new set of amendments that would authorize the government to confiscate crypto assets, as per a report by a local media outlet. Igor Krasnov, the Prosecutor General of Russia, asserted that the new bill would essentially target the cryptocurrencies used in illegal activities.　　Krasnov, who was speaking at a conference yesterday, July 7, asserted that crypto assets have been increasingly associated with illicit activities. He claimed that major cryptocurrencies like Bitcoin have been used for crimes like bribery, laundering stolen funds, and other prohibited actions.　　While declaring that the latest moves by the Russian government to regulate cryptocurrencies have been quite resultful, Krasnov stated that crypto is still a challenge for the country. “The criminal usage of cryptocurrencies poses a serious challenge in our country,” he said.　　Krasnov also emphasized that a broader regulatory framework is required for bringing extra protection. “This would allow the application of restrictive measures and confiscation of virtual assets,” he stated.　　However, the problem with almost all cryptocurrencies is that they are not seizable. For instance, in the case of Bitcoin, one can only access it if they have private keys. Other than that, there is no way to reach Bitcoins inside a

2021-07-09Deep Dive

Perang China terhadap bitcoin baru belum habis lagi

Kenyataan itu, yang dikeluarkan oleh pejabat Bank of China di Beijing, juga memberi amaran kepada institusi untuk tidak memberikan perkhidmatan lain yang berkaitan dengan mata wang maya, termasuk menyediakan premis perniagaan atau pemasaran.　　Menyerang mata wang digital bukanlah perkara baru bagi negara autoritarian.　　Pada tahun 2013, negara itu mengarahkan penyedia pembayaran pihak ketiga untuk berhenti menggunakan bitcoin. Pihak berkuasa China menghentikan penjualan token pada tahun 2017 dan berjanji akan terus menargetkan pertukaran kripto pada tahun 2019.　　Tetapi biasanya, setiap kali Beijing mengecam industri kripto, sengsara itu semakin lemah dan peraturan akhirnya melunak.　　Kali ini, bagaimanapun, nampaknya berbeza.　　Pada bulan Mei, China melarang institusi kewangan dan syarikat pembayaran daripada menyediakan perkhidmatan yang berkaitan dengan crypto. Pada bulan Jun, terdapat penangkapan besar-besaran di China terhadap orang yang disyaki menggunakan cryptocurrency dengan cara yang jahat. Pada bulan yang sama, pengawal selia meningkatkan tekanan pada bank dan perniagaan pembayaran untuk berhenti memberikan perkhidmatan cryptocurrency, dan Weibo, Twitter dari China, menangguhkan akaun yang berkaitan dengan crypto.　　Pada bulan Julai, separuh pelombong bitcoin dunia kini menjadi gelap berikutan desakan Beijing untuk tindakan keras terhadap perlombongan dan perdagangan bitcoin.　　“Kerajaan China melakukan semua yang mereka dapat untuk memastikan bahawa bitcoin dan cryptocurrency lain hilang dari sistem kewangan dan ekonomi China,” kata Fred Thiel, Ketua

2021-07-08Deep Dive

...

534536

...

737