Digital Currencies to Force Cashless Society ... a Timeline

Digital Money


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  • Timeline Summary ... go to timeline ... go to end

  • Scientists and Doctors Warn of Potential Serious Health Impacts of Fifth Generation 5G Wireless Technology ... We the undersigned, more than 180 scientists and doctors from 36 countries, recommend a

Digital Currencies Timeline ... Go to End of Timeline

  • 2016 Dec..NewsPunch...India: Millions Rise Up Against New World Order Ban On Cash ... Millions of protestors in India are rising up against a ruling class determined to take away their rights. There is anarchy in the streets as the Indian government continue to lean on mainstream media to suppress the scale of events and cover up the chaos caused by their draconian ban on cash. ... Populations relying on a fully digital cashless grid will be incredibly vulnerable in times of crisis. A terrorist or military attack, or even a storm or power outage, would mean the end of a functional economy.
  • 2016 ..DissidentVoice...Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse). But Ben Broadbent, Deputy Governor of the Bank of England, puts a more positive spin on it. He says Central Bank Digital Currencies could supplant the money now created by private banks through “fractional reserve” lending – and that means 97% of the circulating money supply. Rather than outlawing bank-created money, as money reformers have long urged, fractional reserve banking could be made obsolete simply by attrition, preempted by a better mousetrap. The need for negative interest rates could also be eliminated, by giving the central bank more direct tools for stimulating the economy. ... In a speech at the London School of Economics in March 2016, Bank of England Deputy Governor Ben Broadbent pointed out that a Central Bank Digital Currency (CBDC) would not eliminate physical cash. Only the legislature could do that, and blockchain technology would not be needed to pull it off, since most money is already digital. What is unique and potentially revolutionary about a national blockchain currency is that it would eliminate the need for banks in the payments system.
  • 2020 Apr 26..Investopedia...Any means of payment that exists purely in electronic form. Digital money is not tangible like a dollar bill or a coin. It is accounted for and transferred using computers. The most successful and widely-used form of digital money is the cryptocurrency Bitcoin. Digital money is exchanged using technologies such as smartphones, credit cards, and online cryptocurrency exchanges. In some cases, it can be transferred into physical cash, for example by withdrawing cash from an ATM. ... In a country where 98% of transactions are performed using cash, the sudden ban on cash transactions, and the withdrawal of cash from circulation, has created outrage. ...
  • 2019 Dec..Coindesk...Venezuela’s Maduro Says He Will Airdrop Half a Petro Each to Public Employees, Retirees ... Maduro said that the airdrop will be another opportunity to encourage Venezuelans to switch to the petro, which has been available to the public since October 2018. Considering the national minimum wage is less than $10 a month, eligible citizens will be strongly incentivized to register for the app. During the same announcement, the president also said more than 500,000 petros would be paid out from the state’s own supply to support town and local governments across the country. This is the latest in a series of efforts to push nationwide adoption. In September, Maduro ordered future funding for a social housing initiative to be paid out in petros. Back in the summer, he requested the Bank of Venezuela (BoV), one of the country’s largest banks, to make the token available to its customers. Despite a limited number of use-cases, the government has reportedly been paying state pensions in petro for the past year. Although the petro has received strong government support and been in circulation for more than a year, it hasn’t found much organic growth across the Venezuelan economy. There were only 400 businesses that accepted petro payments as of last month, according to a government press release. In the same release, Maduro ordered businesses to begin integrating the petro so it can be as widely accepted as the nation’s fiat currency, the sovereign bolivar.
  • 2020 Apr...ActivistPost... In US Congress, New Bill Demands ‘Digital Dollars’ by January for Monthly COVID-19 Aid U.S. Congress sees a new bill looking to give Americans $2,000 a month for at least a year and mandating the implementation of digital dollar wallets by January 1, 2021. ... On April 16, Representative Rashida Tlaib (D-MI) introduced the “Automatic Boost to Communities Act,” or the ABC Act in the House of Representatives. The bill looks to extend monthly payments of $2,000, called BOOST payments, until at least next March, and further requires the development of digital dollar wallets for citizens to receive them. ... The bill goes on to describe those digital dollar wallets as public services accessible at banks and post offices at no cost to users: “Digital dollar account wallets shall not be subject to any account fees, minimum balances, or maximum balances, and shall not be closed or restricted on the basis of profitability.” Last week, Rep. Tlaib, who sits on the House Financial Services Committee, led a coalition of representatives voicing their support for recurring monthly payments in the face of the economic downturn in the U.S.
  • 2020 Apr 26..ActivistPost...I...CV-1984: China Rolls Out Test Of Digital Currency In Four Cities, Western Businesses Testing ... After the coronavirus caused China to shut down most of its businesses, and cities, the country is now striking back hard by releasing a digital currency and national blockchain. China’s central bank The People’s Bank Of China, began testing its new digital Yuan’s interface on April 14th with one of its largest banks, the Agricultural Bank of China, rolling out a test UI. Two weeks later, there are reports that a pilot has been launched. Nineteen restaurants and retail establishments including popular Western restaurant chains like Starbucks, McDonald’s and Subway are participating in the test, reported. The test run is taking place in at least four cities in China—Shenzhen, Suzhou, Chengdu and Xiong’an, according to China’s central bank which confirmed the test of its new digital Yuan officially called “Digital Currency Electronic Payment (DCEP)” to the Wall Street Journal.
  • 2020 May 10..Cointelegraph...Iran Ditches Rial in Hyperinflation Crisis — Bitcoin Demand Rises Iran is set to redenominate its fiat currency, removing four zeros to create a new fiat called toman as demand for crypto is surging. ... Ravaged by crippling hyperinflation, Iran’s Parliament has sanctioned the redenomination of its fiat — the rial — by replacing it with a new currency called the toman. According to the plan, each toman will be worth 10,000 rials. The redenomination plan effectively removes four place values (four zeros) from the Iranian national currency as part of efforts to kickstart an economic recovery from the country. It is a move that echoes steps taken by other countries like Venezuela and Zimbabwe amid huge inflation.
  • 2020 May 15..Bitcoin...Following the third bitcoin halving on May 11, 2020, there’s been a big shift in mining pool distribution, as far as hashrate is concerned. At the time of publication, there’s around 100-115 exahash per second (EH/s) in search of bitcoin blocks and spectators have seen two relatively unknown mining pools join the top mining pool contenders. Both of these new mining pools capture around 14 EH/s today, and the top operations F2pool and have around 34 EH/s between both pools. ...
  • 2020 May 17..NaturalNews...Bitcoin could temporarily skyrocket to $100,000 as the U.S. dollar collapses due to the total blowout Federal Reserve fiat currency printing orgy that’s now under way. The dollar is being utterly obliterated, and both Trump and the big banksters are drunk with helicopter money. There is no way out now other than massive money printing, followed by extreme currency devaluation and ultimately hyperinflation of the prices of consumer goods (yes, even though deflation is the current trend, all the money printing will inevitably result in hyperinflation before long). ...U.S. Treasury bills will be paying strongly negative interest rates — such as negative 5%, for example — and many people will see Bitcoin as a far better alternative than a guaranteed 5% loss in treasuries. ... when Bitcoin is $100,000 per coin, it doesn’t mean it’s actually “worth” what you might think $100,000 is worth today. Depending on the degree of currency debasement, $100,000 might only cover one month’s rent ... but a catastrophic decline could happen overnight...This could happen literally overnight. For example, what happens if the U.S. government announces an oil-backed cryptocurrency that’s also backed by the Fed? Or if China announces a gold-backed hybrid crypto solution? ... the biggest risk is to hold dollars ... So you’d better start thinking about things like trading Bitcoin for land, commercial buildings, residential real estate,
  • 2020 May 17..SHTFPlan...On Twitter, JUST RECENTLY, President Trump WENT TO WORK, defending the price of America’s stock market. This was in response to the remarks made by (Jews and crypto Jews) Sam Zell (real estate billionaire), David Tepper (billionaire owner of the Carolina Panthers), Stanley Druckenmiller (legendary trader partner of George Soros), Ray Dalio (who needs no introduction), James Gorman (CEO of Morgan Stanley), Jim Chanos (best SHORT-SELLER in history) and several other POWERBROKERS, who are telling us the markets are SEVERELY overvalued. In response, Trump tweeted this: (paraphrased: 'the rich guys make money in up and down markets with options trading) ...I agree that gurus can MOVE MARKETS with mere words, but in my opinion, THEY’RE RIGHT, even if Donald wants the market comeback on his watch, right before elections.
  • 2020 May 17..SHTF... Blockchain Arms Race The U.S. Department of Defense ...DoJ can’t afford to lose the global military blockchain race to Russia and China, warns a new white paper by Amazon Web Services, IBM, Deloitte and others. “The two superpowers that pose the greatest threat to the U.S. are both heavily investing in both the research and development of blockchain technology,” the briefing said. China’s on the “economic warfare” offensive with its digital currency. Russia is on defense with a lab dedicated to blockchain cyber threat mitigation. For U.S. security interests, blockchain could assist the military in anything from “weapons release” [Ed. note: "just what bitcoin's founders intended."] to stopping data erasure, as well as bolstering command and control mechanisms.
  • 2020 May 20..Cointelegraph...Chinese Communist Party Adds Crypto to Curriculum Chinese Communist Party school publishes a new book on crypto. ... According to a local blockchain news report on May 19, the Party School of the Central Committee of the Communist Party of China — also known as the Central Party School — published the book as part of a book series on disruptive technologies. Previous entries in the series include “A Dialogue With Party Leaders About AI” and“ A Dialogue With Party Leaders About Blockchain”. The aim of the book series is to provide a source for party officials and the general public for learning about emerging new tech trends. Chinese central bank executives, commercial banking executives and regulators were invited to write the prologue for the new published crypto book.
  • 2020 May 22..Cointelegraph...“Offering a cross-border payments solution built on top of a digital dollar would, particularly if designed to be minimally disruptive to the structure of the domestic financial system, be a very modest investment to protect a key means to project power in the global economy.” ... While the analysts do not anticipate the dollar losing its status as global reserve currency anytime soon, they pointed to some of the weaker links in the currency’s dominance — including in trade settlement and the SWIFT messaging system.
  • 2020 May 27..RT...China to launch digital yuan next year to replace cash ... The People’s Bank of China has revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. The announcement comes as the Covid-19 pandemic has accelerated a shift away from paper money. Limited trials are already underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area in the northern province of Hebei, said the central bank’s governor Yi Gang. He told reporters that China’s government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release.
  • 2020 May 27..RT....China’s digital yuan will displace US dollar’s hegemony & bitcoin will join race, investor tells RT’s Keiser Report ... US Treasury Secretary Steven Mnuchin recently rejected suggestions that the Trump administration is weaponizing the dollar through its trade-restricting policies with other countries. Max Keiser is joined by American investor and the CIO of Morgan Creek Capital Mark Yusko to discuss media reports that weaponizing the greenback could kill its status as the world reserve currency. They also examine alternatives to the US dollar. “We’ve been on this path for decades; we’ve always weaponised the dollar and the United States,” says Yusko. ... Yusko points out that “you can’t sanction a country if the alternative is they can transfer their bolivars or whatever into bitcoin. It’s unconfiscatable.”
  • 2020 May 31..DailyHODL...Crypto Analyst: Bitcoin Stock-to-Flow Model Just Printed a Signal Indicating the Start of a New Bull Cycle ... The crypto strategist popular for applying the stock-to-flow (S2F) ratio to Bitcoin reveals that the model has printed a signal that has not been seen since the crypto bull run in 2017. In a viral tweet, the anonymous analyst known as PlanB provides a crucial update to the S2F model for his 105,000 Twitter followers. The S2F model compares the amount of commodity in circulation divided by the amount produced every year. The model is traditionally used to analyze the intrinsic value of precious metals such as gold and silver. PlanB’s model shows that Bitcoin’s stock-to-flow ratio increases as the rate of new BTC supply decreases over time. The crypto analyst also illustrates how the value of Bitcoin closely follows the cryptocurrency’s S2F ratio using dots, which represent the monthly closing price of BTC.
  • 2020 Jun 2..RT...China’s digital yuan could replace bitcoin & end US dollar hegemony ... The Chinese sovereign digital currency, which may be offered to the public next year, is projected to replace paper money. Analysts say it may even shift the global balance of economic power. The People’s Bank of China last week revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. Limited trials are already underway in four cities across the country. ... While launching studies on its own digital unit as far back as 2014, Beijing has cracked down on the use of all cryptocurrencies, such as bitcoin. Cryptocurrency trading has been halted on some 100 exchanges in the country since 2017, in compliance with regulation on fraud and money laundering ... the digital version of the Chinese renminbi could eventually allow Iran and other countries to more easily evade US sanctions or move money without it being spotted by Washington. They explained in an article for Foreign Affairs that one day it might be possible to transfer the digital currency across borders without going through dollar-based international payment systems.
  • 2020 Jun 2..Coindesk...US Offers $5M Bounty for Arrest of Venezuela’s Crypto Chief ... Immigration and Customs Enforcement (ICE) added Joselit Ramirez Camacho to its Most Wanted List on Monday, accusing him of a number of violations related to international commerce and his alleged involvement in the international drug trafficking scene.
  • 2020 Jun 11..WorldNewsNetwork...Bitcoin has struggled to find support in the U.S. government, with president Donald Trump, along with Treasury secretary Steven Mnuchin, leading the criticism. Now, it’s been revealed the U.S. Department of Defense has wargamed scenarios involving a Generation Z rebellion that uses bitcoin to undermine and evade “the establishment.” MORE FROM FORBESBitcoin Counters Donald Trump’s Antifa Protest ThreatBy Billy Bambrough
  • 2020 Jun 11..Coindesk...Bitcoin has has long been feted as a new form of money, a two-finger salute to the establishment, even as a digital equivalent to gold, but it’s not often prized for its stability. That could change with the introduction of a new futures contract. ... The House Financial Services Committee (FSC) Task Force on Financial Technology will be evaluating how FedAccounts and other digital tools might help the federal government distribute stimulus payments to help Americans suffering the economic fallout of COVID-19. The virtual hearing kicks off at noon Eastern (16:00 UTC). The concept of using FedAccounts to manage digital currencies has gained traction during the pandemic: bills introduced to the committee have suggested using bank accounts managed by the Federal Reserve to issue stimulus payments. The U.S. government has issued one round of payments by check, but only individuals who have filed taxes within the last two years received them. The idea behind FedAccounts is that any U.S. resident could receive these funds in a snap, rather than wait for a piece of paper mailed across several weeks by the Internal Revenue Service (IRS). “What we discovered is that large segments of the population were not included in the financial system in that they didn’t have either bank account information with the IRS or were otherwise reachable,” said J. Christopher Giancarlo, one of the witnesses for Thursday’s hearing, in a phone interview. “The government had to resort to good old trusty paper checks with the delay in time and the imprecision and the challenges that presented to populations that didn’t have bank accounts.”
  • 2020 Jun 15.NewsPunch.....related to blockchain ...Technical Advisor Resigns From ID2020 Alliance Expressing Concerns Over Thier Mission ... Renieris, a Harvard lawyer, resigned from the organization due to a difference of opinion over the organization’s direction. She claims the organization is not transparent and is concerned that they would get involved in COVID-19 immunity passports. Renieris believes that immunity passports are premature and could potentially infringe privacy rights for tests that are unproven and that the identity and blockchain standards are still a work in progress. The ID2020 Alliance was founded by Accenture, Microsoft, Gavi, the Rockefeller Foundation and IDEO and has also been the subject of one of the many Coronavirus conspiracy theories related to Bill Gates
  • 2020 Jun 15.Coindesk....U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton may be the next U.S. Attorney for the Southern District of New York. According to a Department of Justice press release published late Friday, Clayton was nominated by U.S. President Donald Trump to helm the prosecutor’s office, three years after he first took on the role as chairman of the nation’s top securities regulator. Clayton’s term as chairman was slated to expire in 2021. The press release said current SDNY U.S. Attorney Geoffrey Berman would be stepping down, but he denied plans to resign in a statement late Friday. “I have not resigned, and have no intention of resigning, my position, to which I was appointed by the Judges of the United States District Court for the Southern District of New York,” Berman said in the statement. Meanwhile, in a statement attributed to Attorney General William Barr, the DOJ announced that U.S. Attorney for New Jersey Craig Carpenito would serve in the Southern District role on an interim basis starting July 3, until Clayton is confirmed by the U.S. Senate.
  • 2020 Jun City, a “futuristic cryptocurrency themed city” founded by famous singer Akon, is ready to begin construction, with a plan to use the akoin cryptocurrency exclusively. Phase one of Akon City’s construction will include roads, a hospital, a mall, hotels, and a school. There will also be parks, universities, a stadium, and an industrial complex. ... Akon, whose full name is Aliaume Damala Badara Akon Thiam, is a famous singer, songwriter, actor, and record producer. He has sold over 35 million albums worldwide and received 5 Grammy nominations for The Sweet Escape, Bartender, Konvicted, I Wanna Love You, and Smack That. “Akoin is a cryptocurrency powered by a marketplace of tools and services fueling the dreams of entrepreneurs, business owners, and social activists as they connect and engage across the rising economies of Africa and beyond,” the project’s website details. According to Thursday’s announcement:
  • 2020 Jun 21.QLCChain...About QLC Chain QLC Chain project is founded by a group of telecom and blockchain technology experts with entrepreneurial spirits. The team consists of over 20 developers, all with telecom, chips, eSIM, P2P network, encryption experiences, with offices in Mainland China, HK, Silicon Valley, and Europe. The full structure of QLC Chain matured in 2017, aiming to deeply integrate telecom capabilities on a public chain, to build a trusted environment for telecom billing, security and addressing. The public chain has launched in 2018. In the 5G era, the public chain underpinned network will support the convergence of transmission, content recognition and instant payment.
  • 2020 Jun 21.EpochTimes...The rapid growth in online sales around the world forced governments to determine how to tax transactions online in a country where companies sell goods and services without having a physical presence. These companies include e-commerce marketplaces, social media, cloud services, and other web-based services platforms. The Organisation for Economic Co-operation and Development (OECD) has stepped in to coordinate talks among more than 130 member countries. The negotiations have been going for months to rewrite tax laws with a goal of reaching a solution by the end of the year. The objective of these talks is to prevent conflicting policies that have arisen unilaterally in consumption and digital services taxes. ... Individual countries have been implementing their own digital services taxes (DSTs), which are applied to revenues rather than profits. These taxes only focus on companies that have significant global and domestic earnings, so they mainly affect large American firms such as Amazon, Apple, Facebook, Google, and Microsoft, according to the Information Technology and Innovation Foundation (ITIF), a U.S. think tank. ...
  • 2020 Jun 24...Coindesk...BitLicense at 5: Despite Architect Lawsky’s Hopes, Few States Copied NY Rules Danny Nelson ... Instead of setting a model, Lawsky’s NYDFS had created what legislatures in other states now consider a case study in how not to regulate an industry whose complex technical details can quickly confound over-broad and ill-defined rules, as critics – and there are many – allege of New York’s BitLicense. Proponents may hail the BitLicense as a much-needed sheriff for lawless cryptoland and detractors may blast it as the Empire State’s innovation Death Star. But not a single other state has enacted regulations that mimic the BitLicense in the half-decade since New York’s controversial crypto rules took effect.
  • 2020 Jun 26...YahooFinance...A popular narrative argues the massive stimulus programs from the Federal Reserve, launched to counter a coronavirus-induced recession, could hyperinflate the economy and fuel a major rally in bitcoin. However, that bullish theory, which suggests the cryptocurrency would be viewed as a hedge asset in dire economic times, has been dealt a blow by recent data from the U.S. central bank. The data suggests inflation is likely to remain absent for some time and, in fact, the probability of the U.S. economy slipping into deflation is rising.
  • notes: DAG technology is an alternative system that allows cryptocurrencies to function similarly to those that utilize blockchain technology without the need for blocks and miners. ... A DAG is a finite directed graph which does not have directed cycles.
  • 2020 Jun 26...CoinTelegraph... An Israeli Blockchain Startup Claims They’ve Invented an ‘Undo’ Button for Bitcoin Transactions ... Kirobo has invented “Retrievable Transfer,” a way for senders to cancel a transaction that is sent to the wrong address. Kirobo provides a unique code to the sender and the receiver has to enter the matching password in order to receive the transfer. “Until the right code has been provided by the recipient, the sender can retrieve the funds at any time. [...] Kirobo does not hold the user’s private key and has no access whatsoever to the funds or their destination: the password simply governs whether the transfer is finalized or not,” the startup said. The platform has reportedly been audited by cyber intelligence company Scorpiones Group and is supported by the Israel Innovation Authority.
  • 2020 Jun 26...CoinTelegraph....Digital Dollars Take Center Stage in Hearing Before US Senate ... an audience of Senators looking to upgrade financial infrastructure and expand financial inclusion in the country. ... The banking committee welcomed Paxos CEO Charles Cascarilla, financial inclusion professor and researcher at Duke Nakita Cuttino, and former CFTC Chair and current champion of the Digital Dollar Project Chris Giancarlo as witnesses. Cascarilla provided expertise on how existing stablecoins operate and the gaps in current finance that they fill. In his words, “Stablecoins address the antiquated plumbing of our financial system.” ... Committee Chair Mike Crapo (R-ID) cautioned that “the U.S. must have clear rules of the road in place that protect businesses and consumers without stifling innovation,” echoing a broad desire to support businesses. Many republican committee members emphasized competition with China, which seems to be much further along with a digital yuan than the U.S. is with a digital dollar. ...
  • 2020 JuL 3...ActivistPost....It doesn’t require too dark an imagination to realize the gravity of the concerns over the digital yuan. China is a true pioneer when it comes surveillance, censorship and political oppression and the digital age has given an incredibly efficient and effective arsenal to the state. Adding money to that toolkit was a move that was planned for many years and it is abundantly clear how useful a tool it can be for any totalitarian regime. The ability to track citizens’ transactions, access their financial data, control and freeze the account of anyone that presents a potential threat, it all opens the door to the ultimate oppression: total control over private resources, over people’s livelihoods and their capacity to cover their basic needs. ... Xu Yuan, a senior researcher with Peking University’s Digital Finance Research Cen­tre, highlighted the regulatory benefits of making all cash flow in society traceable. “In theory, following the launch of the digital yuan, there will be no transaction that regulatory authorities will not be able to see – cash flows will be completely traceable, ...That’s probably the most oft-repeated argument in our “civilized” Western democracies, right before some terrible governmental abuse of power takes place, or before some new restrictive law or overarching regulation gets passed that limits individual citizens’ rights. A lot of people thought that the PATRIOT Act could never get passed, that banking secrecy would always be respected, and that there’s no way we’d ever see a global economic shutdown by decree. By comparison, a digital fiat currency is not really that far-fetched. In fact, about 20 central banks apart from the PBOC are already actively working on it. As for the possibility of digital currencies and payments systems being enforced, most central bank officials and politicians in the West seem to be quite confident. In a recent interview, Philadelphia Federal Reserve bank president Patrick Harker said a real-time digital payments option was “inevitable”, while the chief of the Bank for International Settlements also recognized that central banks will need to issue their own digital currencies soon. During the corona relief debates in the US, Democratic Senator Sherrod Brown, advocated for the stimulus payments to be distributed thought a digital dollar wallet. The so-called ‘FedAccount’ program, with the Federal Reserve responsible for overseeing it, would offer free bank accounts to receive money and make payments.
  • 2020 JuL 4...Yahoo...E-Gold Claims US Officials Buried Key Report in 2008 Landmark Crypto Ruling ... A defunct digital currency project that was a precursor to bitcoin has claimed the U.S. government suppressed crucial evidence in a 2008 landmark case that has since shaped the cryptocurrency industry. E-Gold’s former directors filed a petition Tuesday for a writ of coram nobis – in which the court changes the original judgment upon discovery of a fundamental error – at the District of Columbia court. Founded in 1996, E-Gold allowed users to trade digital units backed by precious metals – at its peak, the company held around $85 million in gold. The U.S. government charged E-Gold with being an unlicensed money transmitter in 2007; the project’s directors pleaded guilty in 2008. The ex-directors now claim in court that the federal government unlawfully concealed a 2006 review from Florida’s Office for Financial Regulation (OFR) so they “could make an example” out of E-Gold. Per the filing, the OFR review said E-Gold did not count as a money transmitter, as the gold-based asset was closer to a commodity than a fiat currency under state law. E-Gold’s former directors claim the court’s judgment would have been substantially different had they been allowed access to the OFR review The E-Gold case effectively extended the definition of “money transmitter” in the U.S. to include any system that stored and transferred value. Many crypto businesses subsequently have had to be regulated as money transmitters in individual states if they want to operate legally in the U.S.
  • 2020 Jul 6...StevenGuiness...BIS Innovation Hub: The Gradual March to Central Bank Digital Currency Continues to Advance ... This time last year (July 2019) when the Bank for International Settlements released their Annual Economic Report, it combined with the announcement of a new initiative called the ‘BIS Innovation Hub‘ (also known as ‘Innovation BIS 2025‘). The BIS refer to the Innovation Hub as a medium term project that comprises three main elements: Identify and develop in-depth insights into critical trends in technology affecting central banking Develop public goods in the technology space geared towards improving the functioning of the global financial system Serve as a focal point for a network of central bank experts on innovation
  • notes: The BIS, Bank of International Settlements was initially set up to handle reparations payments after WWI from Germany, was run by Jew banksters...The 'Stab in the Back' by the Jews caused Germany to lose WWI which setup WWII...Jew warmongers made $trillions.
  • 2020 Jul 9...WorldCoinIndex...Chinese Ride-Hailing Giant Didi to Test PBoC Central Bank Digital Currency - Digital Yuan ... Digital Currency Electronic Payment, or DCEP... The partnership is a key milestone in DiDi’s ongoing initiatives to enhance the interconnectivity of online and offline economic sectors in China, ... Didi is the world’s second-highest-valued unicorn startup valued at $56 billion and with over 550 million users across Asia, Latin America and Australia. Called as the Uber of China, its major services include public transportation and food delivery. The company also plans to release over 1 million self-driving cars in the market through its autonomous subsidiary, by 2030. ... PBoC is conducting CBDC tests at some commercial shops like Subway, McDonalds, and Starbucks and has asked all government representatives to participate in it. China has been Asia’s contender to work on a CBDC project and has accelerated all its developments over the last year. Another Asian economic giant - Japan - also plans to soon start testing the Digital Yen looking to the rising developments in global market.
  • 2020 Jul 12...TheBlockCrypto...CFTC to develop 'holistic framework' for crypto assets by 2024 ... The derivatives regulator has said: “We will develop a holistic framework to promote responsible innovation in digital assets” ... The regulator said it had granted designated contract market (DCM) licenses for exchanges "specializing in futures relating to digital assets,” referring to the likes of ErisX and Bitnomial (both the exchanges are cleared by the CFTC to offer bitcoin futures). ... The regulator currently classifies bitcoin (BTC) and ether (ETH) as commodities, and hence there are futures contracts legally available for both (for now, only ErisX offers ether futures). ... If an asset is a commodity, it falls under the jurisdiction of the CFTC, and it's a security that falls under the SEC's jurisdiction.
  • 2020 Jul 13...ActivistPost...Coin Shortage Ramps Up War on Cash ... Many retail businesses including grocery stores and fast food restaurants have been wrangling with a national coin shortage. Some are posting notices informing customers that they will need to pay in exact change or use alternative payment methods such as credit cards. What’s driving this scarcity of quarters, dimes, nickels, and pennies? The answer from the U.S. Mint: COVID-19. The virus caused some Mint branches to temporarily slow or suspend production this spring. By May, the total number of circulating coins minted this year came in at around 4 billion, a 1 billion-coin shortfall compared with the same period in 2019. Now as economic activity recovers, there aren’t enough coins to go around.
  • 2020 Jul 13...Economic Policy Journal....Bank of England Considering Creating a Digital Currency ... A central bank running an e-currency is extremely frightening. This would mean all transaction would be tracked by the government and potentially some transactions would be blocked from taking place. Not even George Orwell expected this.
  • 2020 Jul 14...TheBlock...PayPal reveals that it is developing crypto capabilities ... Payments giant PayPal has disclosed that it is developing crypto capabilities In a letter to the European Commission in March, PayPal said it has taken “unilateral and tangible steps to further develop its capabilities in [the crypto-assets] area” PayPal’s revelation is significant since it is said to be in the works to offer crypto buying and selling services to its over 300 million users
  • 2020 Jul 16...Yahoo....Twitter Says ‘Coordinated Social Engineering’ Attack Caused Bitcoin Scam ... A mass takeover of big-name celebrities including former Vice President Joe Biden, former U.S. President Barack Obama, Kanye West, and Elon Musk saw their accounts compromised, starting at 19:00 UTC. Twitter said in a series of tweets that hackers targeted “some of” its employees who had access to internal tools, which they used “to take control of many highly-visible (including verified) accounts and Tweet on their behalf.” The social media platform is looking into what else was impacted, while restoring accounts to their users. Motherboard, VICE Magazine’s tech section, said it spoke to two sources who took over accounts, who claimed they paid a Twitter insider to manage the takeovers. Twitter being “highly centralized” led to the hack, said Ben Sigman, CTO at blockchain startup Make Sense Labs. Twitter employees have “godmode” access to create Tweets from any user, Sigman claimed. It’s worth noting all addresses are Bech32/Segwit addresses which helps narrow down the wallet and service being used.
  • 2020 Jul 16...ZeroHedge...Coin Shortage Strikes Walmart, Customers Required To Pay With Card At Self-Checkout ... Twitter users seem to think the pandemic was a cover by elites to push a "cashless society:"
  • 2020 Jul 17...Binance... What is ....Layer 2 Share Community Submission - Author: Antoni Paszke ... Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system. The main goal of these protocols is to solve the transaction speed and scaling difficulties that are being faced by the major cryptocurrency networks. For instance, Bitcoin and Ethereum are still not able to process thousands of transactions per second (TPS), and this is certainly detrimental to their long-term growth. There is a need for higher throughput before these networks can be effectively adopted and used on a wider scale. In this context, the term “layer 2” refers to the multiple solutions being proposed to the blockchain scalability problem. Two major examples of layer 2 solutions are the Bitcoin Lightning Network and the Ethereum Plasma. Despite having their own working mechanisms and particularities, both solutions are striving to provide increased throughput to blockchain systems. Specifically, the Lightning Network is based on state channels, which are basically attached channels that perform blockchain operations and report them to the main chain. State channels are mainly used as payment channels. On the other hand, the Plasma framework consists of sidechains, which are essentially small blockchains arranged in a tree-like structure.
  • 2020 Jul 17...Yahoo/Coindesk....Money Reimagined: This Isn’t Good for Bitcoin ...No, blockchain does not fix this. By “this” I don’t mean centrally controlled databases that are vulnerable to attack, the problem highlighted by this week’s massive Twitter hack. I mean the meta problem of yet more bad publicity, with the word “bitcoin” again associated with fraud and unsavory behavior, a picture that cryptocurrency advocates will again struggle to avoid. That problem will indirectly but greatly contribute to ongoing public pressure for regulatory constraint on the cryptocurrency industry, which will impede innovation in the sector and its prospects to bring positive change to a broken financial system. Related: Twitter Hacker Is Mixing Bitcoin Loot Using a Wasabi Wallet, Elliptic Says ... news broke that the Securities and Exchange Commission and the Commodity and Futures Trading Commission had forced two separate settlements, worth $150,000 each, out of Abra Global, the crypto-based provider of synthetic digital asset products. Abra, which counts American Express and Indian billionaire Ratan Tata among its investors, has long been seen as one of the most innovative companies in the crypto industry. It launched in 2014 with what was then a radical idea for a crypto-collateralized synthetic stablecoin enabling peer-to-peer remittances from the U.S. to the Philippines. (Abra wasn’t providing an actual token to users, but a contract giving them rights to a fixed-dollar value worth of underlying bitcoin, a deal it achieved via some sophisticated hedging techniques and by using the intermediary-free Bitcoin blockchain as the settlement layer.)
  • 2020 Jul ...21stCenturyWire......Why Washington’s War on Huawei is Not Working ... Putting aside for one moment the the debate over the health and safety of 5G networks – it’s becoming clear by Washington’s behavior that these networks are more about government-corporate mass surveillance than it is about providing telecoms services. ... For Washington, Chinese telecommunication giant Huawei presents a nearly unsolvable problem. We can draw this conclusion by looking at how the US has chosen to compete, or rather, what it is substituting instead for what should be competition. ... It is unclear how acquiring foreign networking companies already being out-competed by Huawei would tip the balance in Washington’s favor or how companies like Ericsson and Nokia with respectable market shares would benefit from being drawn into economic warfare between the US and China, two nations both companies currently enjoy doing business in. Even in the best-case scenario it is unlikely US efforts would materialize and begin showing results fast enough to significantly or permanently set Huawei back.
  • 2020 Jul ...CoinTelegraph...Key Metrics Show Institutional Demand for Bitcoin Is Surging ...Rapidly Grayscale’s $1.4-billion inflow in the first half of 2020, along with two other key factors, shows institutional demand is surging rapidly. ... According to crypto asset fund Grayscale, its products recorded an inflow of $1.4 billion in capital. The investment firm is best known for the Grayscale Bitcoin Trust, which allows institutions in the United States to gain exposure to Bitcoin through a publicly-traded over-the-counter stock. If the demand for Bitcoin climbed steadily in the first three months of 2020, it surged rapidly from March to June. One possible explanation for the sudden increase in attraction toward Bitcoin is its crash in early March when Bitcoin’s price briefly dropped below $3,600 on BitMEX. More than $1 billion worth of futures contracts were liquidated, but in the 72 hours that followed, the volumes in retail markets surged substantially, especially on platforms like Coinbase. Similar to their retail counterparts, institutional investors likely bought large amounts of BTC after the major correction. The assets under management of the Grayscale Bitcoin Trust rose from $1.577 billion to $3 billion, from March 17 to May 13.
  • 2020 Jul 24...TheBlock...Coinbase's latest institutional review reveals it has 35 million customers ... It also shows they are expanding their trading capabilities and want to help fintechs dive into crypto. ... it would soon start offering clients the ability to trade across several pools of liquidity vis-a-vis its acquisition of crypto broker Tagomi. ..."In H1 2020, the digital asset market continued its evolution towards multi-venue best execution, in which clients expect to route trades through brokerages that aggregate liquidity and offer advanced execution algorithms. ..."We anticipate that the combination of Coinbase’s rapidly advancing crypto-as-a-service capabilities, which make adding crypto easier for fiat-native businesses, as well as visible success stories from public companies that have embraced digital assets, will continue to drive new entrants from the fintech, brokerage, and banking sectors,"
  • 2020 Jul 24...BloombergLaw...Bitcoin Deemed ‘Money’ Under D.C. Financial Services Law (2) ...The court declined to dismiss criminal charges against Larry Dean Harmon, the operator of an underground Bitcoin trading platform, for running an unlicensed money transmitting business under D.C. law and for laundering money under federal law. The ruling will likely have minimal impact on how Bitcoin is treated by the market, but establishes parameters on how the District of Columbia regulates cryptocurrency in money transmission. It also brings the D.C. rule in line with how federal and state authorities treat Bitcoin for the purposes of anti-money laundering purposes. Harmon, who allegedly portrayed his platform as a service for stripping Bitcoin of any link to illegal transactions, was indicted by a federal grand jury in 2019. He sought to dismiss the illegal-money-transmission claims, arguing that Bitcoin isn’t “money” under the MTA and that his platform wasn’t a “money transmitting business” under the U.S. Code.
  • 2020 Jul 29...FastCompany...Bitcoin is on a surge . . . and no one knows why. The digital currency is up over 17% since July 20, the same period during which the Dow Jones Industrial Average dropped nearly 2% and reported cases of COVID-19 topped 4.3 million in the United States. As of this afternoon, the price was nearly $11,000. ... The spike comes on the heels of a decision by the Office of the Comptroller of Currency last week allowing banks to hold cryptocurrencies. Up to now, banks and funds had avoided bitcoin and other cryptocurrencies due to regulatory concerns—though banks likely have not yet had time to react, and bitcoin’s current upswing started before that decision. ...Two prominent Wall Street veterans are predicting that this is just the beginning of an even bigger rise that will see bitcoin more than double.
  • 2020 Jul 30...Yahoo Finance...Central Banks Are Privacy Providers of Last Resort ...It certainly seems like it. Back in 2017, Denmark’s central bank proclaimed it would “not be appropriate or acceptable” to issue an anonymous digital currency for public use. But a recent Bank of Canada paper floats the idea of issuing digital currency with “enhanced privacy features.” It’s almost as if over the last 24 months central bankers have become bitcoiners (or at least zcashers).
  • 2020 Jul 30...Yahoo Finance..Scalable blockchain Elrond has made the leap onto its mainnet and drastically reduced the token supply in the process. As part of the transition, Elrond said total token supply had been drastically reduced from 20 billion to just 20 million. Rather than burning tokens, Elrond is using an exchange swap where 1,000 testnet ERD tokens translate into just one token on mainnet – called Elrond Gold (eGLD). ERD tokens are currently trading at $0.02, according to CoinGecko, up 1,200% year to date. The redenomination means new eGLD tokens will be worth $24.80 each. At the present market cap, the move onto mainnet means $473 million worth of tokens have been redenominated. Starting in 2018, Elrond describes itself as an interoperable blockchain network that uses sharding to scale to up to 250,000 transactions per second. It raised $3.2 million by selling 25% of the token supply in an exchange offering on Binance Launchpad in 2019.
  • 2020 Aug 2 ...notes: Byzantine Generals Problem ...**The “Byzantine generals’ problem” or the “Byzantine Fault.” In essence, the Byzantine generals’ problem is an allegory in the field of computer science, which tells a story of two generals (there can be more than two generals) planning to attack an enemy city. The generals tell both armies to attack from each side of the enemy’s castle, the east side and the west side. The issue at hand is a timing or synchronization problem coupled with trust, because both armies need to attack simultaneously. Now the two generals split a group of messengers but the only way the messengers can communicate is by entering via the enemy castle. The Byzantine generals’ problem is not being able to trust the message from the messenger, as it may not be valid or truthful.
  • 2020 Aug 5...BitcoinNews...Triple-Entry Bookkeeping: How Satoshi Nakamoto Solved the Byzantine Generals' Problem ... The problem with creating something more advanced than the double-entry accounting system was the notorious “Byzantine generals problem.” Basically, when a distributed ledger is being shared among computing systems people cannot trust which system or server (node) is trustworthy, compromised, or functioning with a failure to detect. However, on October 31, 2008, an anonymous person(s) released a paper that solved the Byzantine Fault dilemma. ... Basically Nakamoto invented the triple-entry accounting system or essentially gave the theory life. Triple-entry bookkeeping is far, far more advanced than the traditional double-entry systems we know of today. Essentially all the accounting entries are cryptographically validated by a third entry by hashing and a nonce. “Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending,” Nakamoto’s infamous white paper says. With the triple-entry bookkeeping system, the entries (transactions) are both congruent, but the infrastructure also adds a third entry into the ledger’s validation process, which again is cryptographically sealed. ... Fundamentally, hashing or cryptographic hash function (CHF) is a mathematical function of arbitrary size we call a “message.” A nonce is an arbitrary number that is used one time when the message is concealed in plain text. In the **Byzantine general tale, one army sends a message (CHF) over to the other general with a nonce. The other general then must decipher the CHF, with some partial knowledge cryptographers call a “hash target.” All the general has to do is hash the CHF and the nonce, as well as make sure everything corresponds with the hash target (partial knowledge). If everything is valid, the two generals have easily synchronized the timing of an attack, without having to doubt the message system or messengers.
  • 2020..Apokalyse...Coronavirus Conspiracy to Eliminate Paper Money? | Armstrong Economics ... Many people are starting to question why this coronavirus has been shipped up into a major panic when the annual flu kills far more people. Perhaps they have enlisted the conspiracy contingents who turn everything into the end of the world and are so eager to paint doom and gloom as a lethal weapon for mass financial destruction. They may not realize that they are being played for fools spitting out various conspiracies such as biological weapons laced with AIDS that will kill 50% of the population without a single shred of proof. Curiously, the World Health Organisation (WHO), which is a specialized agency of the United Nations established on April 7th, 1948, and is headquartered in Geneva, Switzerland, has advised people to use contactless technology instead of cash as banknotes may be spreading the coronavirus. It is interesting since paper money has long been recognized as a hospitable environment for gross microbes including viruses and bacteria. Both can live on most surfaces for about 48 hours. However, the claim is that suddenly paper money reportedly transports a live flu virus for up to 17 days. The question emerges: If this has always been the case, then suddenly why now warn about using paper money? Is this part of a broader plot to eliminate cash in order for governments to take whatever taxes they need when the entire social structure is collapsing around them?
  • 2020 Aug 8..CryptoNews..... Mastercard and Visa Are Making Bold Moves Toward Mass Crypto Adoption ... The payment service provider noted digital currencies as an exciting avenue to expand existing network-of-networks to support the latest technology powering global commerce. These two global giants are not just offering lip service, either; their payment cards and technology are already powering a number of platforms and service providers within the crypto space. The likes of Coinbase and Binance crypto exchanges use either Visa or Mastercard to power their crypto debit card services.
  • 2020 Aug 10 .....ZeroHedge....Inside One Of Big Brother's 'Location Harvesting' Contractors, Which Tracks 'Hundreds Of Millions' Of Phones ...A Virginia-based software company founded by two US military veterans with backgrounds in intelligence has been tracking hundreds of millions of mobile phones across the world, according to documents reviewed by the Wall Street Journal. ... The company, Anomaly Six LLC, draws location data from over 500 apps - partly through their proprietary software development kit (SDK) which they've paid to embed directly in some of the apps, while the company gets location data from partner providers. The SDK allows the company to obtain a user's location if they have allowed the apps in question to access the phone's GPS coordinates. ... Anomaly Six holds contracts with several branches of the US Government - although they told the Journal that they 'restrict the sale of US mobile phone movement data to nongovernmental, private sector clients,' according to the report. Private sector clients - typically marketing companies or others in the advertising space - buy and sell geolocation data, sometimes 'reselling it to government agencies or contractors' according to the report.
  • 2020 Aug 12 .....Coindesk...Unpacking the Avit, Avanti Bank’s New Digital Asset Being Built With Blockstream ... the Avit can be thought of as commercial bank money or programmable electronic cash that can be exchanged for a dollar but is not pegged to the U.S. dollar like a stablecoin. It’s also not a security token, or a digital representation of an investment that’s expected to generate returns. The Avit represents one of several bank-led innovations in the digital asset space. With Goldman Sachs considering its own stablecoin issuance, Sygnum issuing a stablecoin tied to the Swiss franc and other experiments, Avanti has joined a growing list of banks that want to compete with startups on digital assets. However, Long said she believes stablecoins are not the ideal digital asset for trying to bring fiat into the crypto world.
  • 2020 Aug 14 .....OANN...DOJ Seizes Cryptocurrency Accounts Of Major Terrorist Organizations...Attorney General William Barr announced a total of four Facebook accounts, four websites and more than 300 cryptocurrency accounts linked to al-Qaeda, ISIS and Hamas were dismantled by authorities. Millions of dollars worth of cryptocurrency came with it. Barr said this latest seizure was part of the Department of Justice and Treasury Department’s efforts to “seize the funds and instrumentalities” of terrorists worldwide. The operation was largely done online into a number of terrorist accounts and platforms, which were asking for bitcoin donations to fund their operations. Some requested funds under the guise of “soliciting for charity,” while others promised the money would not go towards any violent causes. One ISIS scheme authorities uncovered attempted to capitalize on the COVID-19 pandemic by selling fake personal protective equipment. The site claimed to have unlimited stockpiles of surgical and N-95 FDA approved masks, which they were marketing towards U.S. consumers.
  • 2020 Aug 15 .....Yahoo...Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China...Chukwuemeka Ezike sends thousands of dollars’ worth of bitcoin a month in order to trade with Chinese exporting companies. In return, he receives spare auto parts, construction equipment, and juices for a family business his father started more than 30 years ago. Ezike works full-time at Singapore-based crypto exchange Huobi as its community manager but helps with his family’s business on the side. He says bitcoin is faster than exchanging currencies the old-fashioned way. And he can use it to leapfrog bank limits of $10,000 a day, which he often needs to do. ... Ezike doesn’t pay the manufacturer directly. Over WeChat, he works with a middleman named “Allen” who exchanges Ezike’s bitcoin for renminbi, China’s national currency, and then passes it on to the manufacturer. Ezike couldn’t divulge which companies he deals with, saying, “The Chinese are sensitive with the data that’s shared.”
  • 2020 Aug 19 .....RT...A possible future use for bitcoin? Russian bank issues loan using cryptocurrency as collateral for first time ... The loan, issued by Expobank to businessman Mikhail Uspensky, used the currency known as ‘waves’ as collateral. It was founded by Ukrainian entrepreneur Alexander Ivanov in 2016. However, the loan amount and terms of the agreement have not been made public. Cryptocurrencies such as waves and bitcoin have, until recently, been in a legal grey zone inside Russia. Earlier this year, Russian President Vladimir Putin signed a law that officially allows the buying and selling of crypto, but does not recognize it as legal tender. Therefore, any cryptocurrency assets used as collateral are deemed to be “other property,” instead of fiat currency.
  • 2020 Aug 20 .....CoinTelegraph...$50K Bitcoin Is ‘Reasonable’ if BTC Hits New Highs, Says Tone Vays ... $45,000 to $50,000 is a reasonable bull market target for Bitcoin if it surges past $20,000. ... If the price of Bitcoin surpasses $20,000 in the medium-term, Vays said history shows it tends to double. Based on the historical price cycles, he said the $45,000 to $50,000 range is a reasonable target. ... How far could Bitcoin go? Various price models predict the price of Bitcoin to reach anywhere between $30,000 to $250,000 in the long-term. According to Vays, he would be satisfied if the next top of Bitcoin is at around $45,000. Historically, Bitcoin has seen a major breakout past its previous record high, reach a new peak, then correct. A rapid upsurge to unsustainable price levels could leave BTC vulnerable to sharp drops.
  • 2020 Aug 21 .....CoinDesk/Yahoo...Working with a small, focused and ideological team, my comrades at PolyTech are upending some of the key assumptions on which the crypto industry has been built, and are plotting an all-out privacy offensive. Our mission – the Dark Renaissance – is strategic and philosophical. At a personal level, it relates to a lifelong obsession with the philosophy of technology, and an intense awareness of the power of software. It represents a desire to reconnect with bitcoin’s crypto-anarchist roots and fend off the forces of surveillance that creep into every aspect of our lives in 2020. But first, it requires an understanding of the distant past. ... Programmers know this: When a user’s behavior is influenced by code, it’s called opinionated software. When a user is manipulated for corporate interests, it is known as a dark pattern. ... Software also has unintended consequences. Released into the wild, code propagates ideology in unpredictable and chaotic ways. Inevitably, it backfires, and innovation flows through human society, irrespective of, and indifferent to, political difference.  To what extent technology is informed by and produces belief systems has haunted me throughout my adult life. ...It has caused me nightmares: dark conclusions on the nature of technology, prophecies of machine takeover and terrifying visions of the future of war.
  • 2020 Aug 22 ...CNBC..Report finds $50 billion of cryptocurrency moved out of China hinting at capital flight against Beijing rules ...Chinese citizens are only allowed to buy up to $50,000 of foreign currency a year at a financial institution. In the past, wealthy citizens have circumvented the limit through foreign investments in real estate and other assets. But the government has cracked down on these methods, according to a report by Chainalysis, a blockchain forensics firm. “Cryptocurrency could be picking up some of the slack though,” the report said. “Over the last twelve months, with China’s economy suffering due to trade wars and devaluation of the yuan at different points, we’ve seen over $50 billion worth of cryptocurrency move from China-based addresses to overseas addresses,” Chainalysis said. ... Cryptocurrency holders are using controversial stablecoin Tether to move their money. A stablecoin is a digital currency that is usually backed by another asset or group of assets in efforts to stabilize its value and limit volatility. Tether claims to be pegged to the U.S. dollar. ... “In total, over $18 billion worth of Tether has moved from East Asia addresses to those based in other regions over the last 12 months. Again, it’s highly unlikely that all of this is capital flight,” Chainalysis said in its report.
  • 2020 Aug 22 ...YouTube...Why is China urgently pushing for digital RMB? | Could China be independent from the USD? 
  • 2020 Aug 24 ...Forbes...Chris Larsen, the Co-Founder and Executive Chair of Ripple, penned an op-ed yesterday in the popular D.C. news periodical ‘The Hill’,... His topic was titled, ‘The tech cold war is here - and the US isn’t winning”. Ripple’s headquarters are located in the Bay Area and recently, Larsen had made some very generous donations in concert with Ripple to assist with the Covid-19 pandemic. Larsen describes that a focus on 5G and AI should not overshadow the threat from China with digital currencies and blockchain technology. According to Larsen, the Chinese Government has subsidized vast amounts of energy needed to fuel cryptocurrency “miners”. According to Larsen, “ least 65 percent of cryptocurrency mining is concentrated in China, which means the Chinese government has the majority needed to wield control over those protocols and can effectively block or reverse transactions”. ... Cambridge Centre for Alternative Finance (CCAF) that conducted the report explained the overall hashrate in the study “may not be fully representative”. The CCAF commented their study “...represents only a little more than a third of the total hashrate” and all the data is provided by three Bitcoin mining pools that are all headquartered in China. ... the dangers that exist were China to take over the Bitcoin protocol. “It's not hard to imagine a dystopian future. A U.S. defense payment to an ally could be blocked or reversed”, says Larsen.
  • Cointelegraph
  • 2020 Aug 25 ...Coinivore....Researchers Attempt To Invent Low-Cost Alternative To Bitcoin ... Byzantine Reliable Broadcast, can achieve safe cryptocurrency transactions on a large scale with an energetic cost of virtually zero – “roughly equivalent to that of exchanging emails”, Guerraoui says – and just a few grams of CO2 compared to an estimated 300 kg for a single Bitcoin transaction. ? ... players just need to communicate with each other. “If a malicious player wants to make a payment, for example, this system would not allow anyone to accept money from that player until a randomly chosen sample has confirmed the player has not sent money to anyone else; otherwise, the payment will not be accepted,” he explains. “Basically, we’re saying that you only need to exchange information with a sample of players to implement a cryptocurrency.” The central element of communicating, or broadcasting, information is what gives the Byzantine Reliable Broadcast system its name. After first publishing the theoretical results behind the system earlier this year in the proceedings of the 2019 ACM Symposium on Principles of Distributed Computing (ACM PODC), one of the two most prestigious conferences in the field, Guerraoui and his colleagues have recently published a second paper describing the implementation and scale-up of their algorithm. For its description of the first scalable solution to a consensus alternative, the second DCL paper has already garnered interest from industry, and won the Best Paper Award at the field’s other top conference, DISC 2019 (the 33rd International Symposium on Distributed Computing). The award will be presented in Budapest, Hungary in mid-October.
  • 2020 Aug 27 ...RT...Microsoft joined by Walmart in grab for TikTok as tech platform’s CEO jumps ship ... Walmart is joining Microsoft in its bid to acquire the US, Canadian and Australian operations of Chinese social media platform TikTok – a move that could help the retailer better compete against major player and rival Amazon. The big-box retailer confirmed on Thursday that it’s climbing on board with software giant Microsoft in the company’s bid to acquire TikTok’s operations in four countries. TikTok owner ByteDance has been pressured to sell its blockbuster micro-vlogging platform for weeks by the Trump administration, which is threatening to ban the social network entirely in the US if the Chinese company doesn’t turn over at least its US operations to an American firm – and cut the US government in on the profit. ... microsoft walmart tiktok china
  • 2020 Aug 27 ...CoinDesk...Winklevoss Brothers Say Bitcoin Could Reach $500K as the ‘Only’ Long-Term Inflation Hedge ... Tyler and Cameron Winklevoss, noted internet entrepreneurs and crypto billionaires, believe weakness in the U.S. financial system and other factors mean bitcoin could one day reach $500,000 per coin. In a post on the Winklevoss Capital blog Thursday, the two set out how, while historically strong, there are now "fundamental problems" with gold, oil, and the U.S. dollar as stores of value. The twins point to government money printing in the trillions and borrowing between government departments (as the Federal Reserve buys billions in debt from the Treasury), as factors that will ultimately lead to inflation. "Even before COVID-19, and despite the longest bull run in U.S. economic history, the government was spending money like a drunken sailor, cutting taxes like Crazy Eddie, and printing money like a banana republic," the brothers write.
  • 2020 Aug 29 ...Bitcoin...New SEC Filing Shows Fidelity Preparing to Launch Bitcoin Fund ... The SEC published Wednesday a Notice of Exempt Offering of Securities (Form D) filing for a new bitcoin fund. The issuer is Wise Origin Bitcoin Index Fund I, incorporated in Delaware this year. The minimum investment for this new bitcoin fund that will be accepted from any outside investor is $100,000. Fidelity Brokerage Services and Fidelity Distributors Company will receive sales compensation. Peter Jubber, Head of Strategy and Planning at Fidelity Investments, is listed as “the President and a director of FD Funds GP LLC, the general partner of the issuer.” Jubber has also filed Form D with the SEC for two other funds of similar names that do not mention bitcoin: Wise Origin Fund I and Wise Origin Fund II. The former was filed in January and the latter in April. ...  “Almost 80% of institutional investors find something appealing about digital assets,” Fidelity found. ... fidelity bitcoin fund
  • 2020 Aug 30 ...TheBlockCrypto...The IRS has sent another round of letters warning U.S. crypto holders about their taxes by Michael McSweeney August 25, 2020, 5:22PM EDT · 1 min read ADVERTISEMENT New information indicates that the U.S. Internal Revenue Service has sent a new batch of letters to suspected crypto holders about whether they correctly reported their transactions., which offers a service for crypto-related tax preparation, published a letter Tuesday that it said came from one of its users. The service's blog post said that "[i]t has come to our attention from CoinTracker users that the IRS has starting sending out another wave of cryptocurrency tax warning letters to U.S. crypto users." The service linked to several Reddit posts from people who say they received letters. Elsewhere, Bloomberg published a news report on the subject, saying that the U.S. tax authority confirmed the issuance of the letters. As was the case last year, the IRS can issue three different types of letters, depending on the situation of the taxpayer and the degree to which the agency thinks the individual is purposefully not reporting their transactions. One of those letters, Letter 6173, carries with it the risk of a taxpayer audit. ... irs crypto warning letters
  • 2020 Aug 30 ...CoinTelegraph...3 reasons why YFI price just hit a new high of $18K ... hit a new all-time high following Aave’s listing and a hint at FTX partnership.
  • 2020 Sep 1...IBTimes...What Is YFI Crypto? DeFi Token Hits $38,000, Over Three Times Bitcoin's Price ... highly illiquod..only 30,000 in circulation ... YFI peaks at $38,682, surpassing Bitcoin's current value ($11,600) and all-time high (near $20,000) YFI and other similar tokens have scarce supply and are highly speculative These coins are highly illiquid Many cryptocurrencies have undergone price increases while Bitcoin remained sideways at $11,600. Of all these cryptocurrencies, the governance token YFI lead the charge as it went past Bitcoin to peak at $38,682. This is more than three times the current value of the benchmark cryptocurrency and almost twice higher than BTC's all-time high of 20,000. YFI is the governance token for decentralized finance (DeFi) protocol, which aggregates the different yields of DeFi protocols. A yield is what a user will earn if they lend their coins on the various protocols. Users can put money in vaults and earn yields as well. Finally, users can also earn governance tokens like YFI as a sort of loyalty perk for providing liquidity. Traders who hold governance tokens can vote on proposals concerning the network, but as news outlet Decrypt pointed out, traders and investors often hold on governance tokens as speculative assets. In the past seven days, YFI has increased by 165% and even beat Bitcoin’s all-time high. It is currently trading at $33,043. ... yfi defi bitcoin
  • 2020 Sep ...CoinTelegraph...PornHub now accepts Bitcoin and Litecoin ... The company has been accepting Verge since 2018, later adding several other cryptocurrencies, but this is its first foray into the major leagues. Pornhub’s vice president Corey Price said in the press release: “As a leader in adult content with over 130 million visitors per day, Pornhub is excited to now offer two widely-used and leading digital currencies for our users. ... Pornhub is a year older than Bitcoin, having been founded in 2007 in Montreal, Canada. Currently, it stands as the world’s ninth most popular website with 3 billion monthly visitors. Cryptocurrency and porn have been forever commingled in society’s subconscious. This relationship goes back to pre-Bitcoin days as many cypherpunks believed that porn would be an early adopter of non-governmental digital currencies. Satoshi Nakamoto himself voiced similar opinions in 2010:
  • 2020 Sep 3...CoinTelegraph...CoinMarketCap launches crypto education portal 'CMC Alexandria' ... aims to provide holistic content for newcomers to the industry. ... “Cryptocurrency is no longer the niche interest that it once was, but neither is it completely mainstream — it’s somewhere in the middle,” a CoinMarketCap representative told Cointelegraph. ... The new platform is called CMC Alexandria, in reference to the ancient Library of Alexandria of the second century B.C. — an emblem of early aspirations to gather the world’s knowledge in one place, as part of a "universal library." ... pornhub bitcoin litecoin
  • 2020 Sep 6...CoinTelegraph....Gold bug Peter Schiff, who has often spoken out against Bitcoin, may be admitting that there’s at least some flaw in his predictions after acknowledging the coin did not “collapse” as gold rose to a new all-time high last month. ... “I was right on gold, but wrong on Bitcoin,” said Schiff. “The latter did manage to get through resistance and rally up to $12K, thanks in large part to a ride on gold's coattails and a massive TV advertising buy by Grayscale.” “By falling back to $10K Bitcoin quickly returned to a bear market.” According to Skew Analytics, the one-month correlation between gold and Bitcoin reached a record high of 68% in early August. As of this writing, the price of gold is $1,934 per ounce, having only dropped 7.1% since reaching an all-time high of $2,089 on Aug. 6. However, Bitcoin is currently valued at $10,251, having fallen 15% since first rising above $12,000 this year on Aug 2. The correlation between the two assets has remained near 0-20% for the last two weeks, briefly dropping to 2.6% on Sept. 2. ... schiff prediction flaws
  • 2020 Sep 7...WorldCoinIndex...WorldCoinIndex headlines ... SUSHI Token Price Tanks As Founder of DeFi Protocol SushiSwap Sells 100% Holding In Alleged Exit Scam WorldCoinIndex Derivatives Report 2020 – Week 36 Bitcoin Price Dips Below $10,000, Can We Expect A Short-Term Correction? Bitcoin (BTC) Price Dives Below $11,000 Hitting A New Low Over the Last Month South Korean Police Raids the Headquarter of Crypto Exchange Bithumb for Fraud and Embezzlement Ethereum Co-Founder Vitalik Buterin Raises Concerns on the Latest Craze Around Yield Farming in the DeFi Space Yearn.Finance Native DeFi Cryptocurrency YFI Surges 190% Over the Last Week, Price Tops $38,000 Gemini Founders Winklevoss Twins Predict BTC Long-Term Value At $500,000
  • 2020 Sep 10...CoinDesk...Pandemic Will Speed Bitcoin Adoption, Says DBS Bank Economist ... That’s how Singapore-based DBS Bank describes the current state of digital assets in its quarterly report on cryptocurrencies published in August. It’s interesting to hear such an observation from a respected multinational bank and its chief economist, Taimur Baig. However, there have lately been murmurings about certain large financial institutions – particularly in places like Singapore, Switzerland and Germany – fielding a new wave of demand for crypto, filtering through from smaller private banks and wealthy clients. ... “Pre-pandemic demand was largely speculative. People saw bitcoin had a spectacular run and wanted to be part of that game, so what’s wrong with putting in 1% of assets under management [into BTC],” Baig said in an interview. “But I think post-pandemic is beyond speculative. It’s more about, ‘This thing has fixed circulation, it will not be debased.’ People are worried about dollar outflow and wondering if they should hold crypto in addition to gold as a safe-haven currency.” ... high correlation with gold. ...pandemic bitcoin adoption
  • 2020 Sep 11...WorldCoinIndex...Mastercard Launches A New Testing Platform for Central Banks to Launch Central Bank Digital Currencies (CBDC) ...The development of central bank digital currencies (CBDCs) has gained momentum as central banking institutions have started experimenting with fiat-pegged national digital currencies for their respective economies. ... It also tries to give an overview of the issuance, distribution and exchange of CBDCs among different stakeholders like commercial banks, financial institutions, and even consumers. The Mastercard CBDC testing platform makes sure that it is interoperable with the existing payments rails widely used by individuals and businesses. To access the CBDC tech design Mastercard has also invited other “commercial banks and tech and advisory firms” in addition to central banks. ... mastercard cbdc launch
  • 2020 Sep 11...CoinTelegraph...The IRS offers a $625,000 bounty to anyone who can break Monero and Lightning ... The official proposal, published last week, says the IRS will accept submissions in the form of working prototypes until Sept. 16. If accepted, applicants will receive an initial payment of $500,000. ... The announcement defines the initiative’s primary objectives as helping IRS Criminal Investigation, or CI, special agents to trace transactions — including identifying wallets, transaction dates and times — and amounts transferred. The agency hopes to use the tools to predict the future transactions of flagged addresses. The final products must also provide CI full control, with the ability to further develop or modify them so that the organization does not have to rely on any external vendors. Monero is one of the virtual currencies preferred among criminal organizations over more traceable crypto assets like Bitcoin. The IRS noted that XMR is being used for all future ransom demands and transactions by ransomware group Sodinokibi due to its “privacy concerns.” ... irs bounty break monero xmr
  • 2020 Sep 13...Bitcoin...Bitcoin Hashrate Ramps to 130 Exahash Amid Next-Generation Miner Shortage ... Regional reports from China have highlighted that a number of major Chinese ASIC mining rig manufacturers have sold out of their next-generation model stock. The shrinking supply of high-performance machines may be due to the shortage of 7nm and 8nm chips from TSMC and Samsung. Bitcoin miners are finding it difficult to obtain next-generation application-specific integrated circuit (ASIC) mining rigs after a number of firms have sold out. Semiconductor goliaths like Samsung and TSMC have been struggling to keep up with the demand that was sparked by the Covid-19 outbreak. On September 10, financial columnist, Vincent He, detailed that mining manufacturers like Canaan, Whatsminer, and Ebang have “sold out most of their stocks this year.” Furthermore, the report highlights that Bitmain still has leadership issues and delays in delivery. ... asic mining shortage
  • 2020 Sep views Chainlink integration as a gateway to DeFi ... believes that having control over one's finances, data and identity is a basic human right. ... see...ONT ID uses blockchain and cryptographic technology to identify and connect identities and assets — and according to the company, its single sign-on approach offers a compelling alternative to the “antiquated” landscape we see at present, where usernames and passwords are used to access online services. ... ONT ID can be used as a unified account and helps users to keep data in their own hands. Other applications include issuing graduation certificates and academic transcripts — meaning credentials are easier to verify. This also creates an added layer of privacy, as graduates can prove they meet criteria without having to reveal the exact grades earned. ... crypto identity human right
  • 2020 Sep 15...CoinDesk...Japanese Crypto Exchange Accuses Binance of Helping Launder $9M From 2018 Hack ... A Japanese cryptocurrency exchange that suffered from a $60 million hack in 2018 is suing Binance for “aiding and abetting” the laundering of some of the stolen funds. According to a complaint filed by Fisco in the Northern California District Court on Sept. 14, the Japanese exchange alleged that soon after it lost nearly 6,000 bitcoin in the 2018 hack, the thieves sent 1,451 bitcoin to an address belonging to Binance, which was worth $9.4 million at the time. Fisco – called Zaif at the time of the hack – added that the thieves subsequently laundered the funds on the world’s largest exchange platform, due to its allegedly lax know-your-customer (KYC) and anti-money laundering (AML) protocols that “do not measure up to industry standards.”
  • 2020 Sep 16...CoinTelegraph...Bakkt Bitcoin futures smashes daily volume record by 36% Despite the milestone, Bakkt’s future volumes pale in comparison to those of top crypto exchanges Binance and Huobi. ... Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On Sept. 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. ... japan crypto laundering bakkt
  • 2020 Sep 16...CoinDesk...Leaked EU Draft Proposes All-Encompassing Laws for Crypto Assets ... Europe’s Markets in Crypto-Assets (MiCA) draft legislation provides legal certainty around crypto assets – cryptocurrencies, security tokens and stablecoins – along the same lines as Europe’s Markets in Financial Instruments Directive (MiFID), a legal framework for securities markets, investment intermediaries and trading venues. The takeaway is that Europe intends to treat crypto the same as any other regulated financial instrument, which will doubtless provide legal clarity. The unknown is whether that may stifle this nascent and fast-moving space. ...The MiCA proposals begin with a broad definition of crypto assets and a base set of rules that apply to the issuers of those assets and service providers, the latter is more or less in line with the Financial Action Task Force (FATF) definition of a virtual asset service provider (VASP). ... “Those stablecoins that rely on a basket of currencies or are based by reference to other assets, whether that’s another crypto or other kinds of assets, they will be classed as asset-reference tokens,” Jones said in an interview. “Essentially, the subgroup that behaves like e-money will be sucked into the existing e-money framework, while those that are asset-referenced have a load of extra rules on top of the base rules. So clearly, this is targeting stablecoins and particularly global stablecoins.” ... eu crypto-asset law mica fatf
  • 2020 Sep 19...CoinDesk....EU To Introduce Crypto-Assets Regime By 2024, ... LONDON (Reuters) – The European Union will introduce new rules within four years to make cross-border payments quicker and cheaper through the use of blockchain and crypto assets like stablecoins, two EU documents showed. The European Commission is due to set out its strategy for encouraging greater use of digital finance at a time when 78% of payments in the euro zone are in cash. It also wants a rapid shift to “instant” payments generally as pandemic lockdowns showed the growing role of cashless payments. ... “By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and crypto-assets in the financial sector,” the documents said. “It should also address the risks associated with these technologies.” Stablecoins, a type of cryptocurrency often backed by traditional assets, leapt onto policymakers’ agendas last year when Facebook revealed plans for its Libra token. Central banks are now studying whether to launch their own. ... eu crypto-asset regime dlt
  • 2020 Sep 21...Forbes...Billionaire Twitter CEO Jack Dorsey Reveals Why Bitcoin Is ‘The Best’ Internet Currency ... Now, billionaire boss of both micro-blogging platform Twitter and payments company Square SQ +2.6%, Jack Dorsey, has said bitcoin is "probably the best" native currency of the internet due to bitcoin being "consensus-driven" and "built by everyone." ... Dorsey spoke to Reuters just as his company Square announced it's inviting other cryptocurrency firms to join an "'alliance" that will pool patents and preserve the industry’s open-source spirit, called the Cryptocurrency Open Patent Alliance (COPA). "We believe there needs to be a global native currency for the internet. Just as everyone should be able to participate in the economy and have access to the same tools and services, so too should everyone be able to participate in cryptocurrencies and have access to its underlying innovation," COPA, which is an entirely separate entity from Square, with its own independent board of directors, wrote in a statement, adding "offensive and misguided use of patents threatens the growth and adoption of emerging technologies such as cryptocurrencies." ... dorsey bitcoin internet currency
  • 2020 Sep 24...ActivistPost...Trump pushed his campaign against Big Tech, touting curbs on legal protections for social media platforms he denounces as biased against conservative views. ... “In recent years, a small group of technology platforms have tightened their grip over commerce and communications in America,” Trump declared at a White House event with Attorney General William Barr and Republican attorneys general from several states. “They’ve used this power to engage in unscrupulous business practices while simultaneously waging war on free enterprise and free expression.” The anticipated lawsuit against Google by the Justice Department could be the government’s biggest legal offensive to protect competition since the ground-breaking case against Microsoft almost 20 years ago. ... a bipartisan coalition of 50 U.S. states and territories, led by Texas Attorney General Ken Paxton, announced a year ago on the steps of the Supreme Court that they were investigating Google’s business practices. They cited “potential monopolistic behavior.” ... trump "big tech" social media
  • 2020 Sep 24...ActivistPost...Inflation / Deflation ....In Unprecedented Monetary Overhaul, The Fed Is Preparing To Deposit “Digital Dollars” Directly To “Each American” ... The Fed’s failure to reach its inflation target – which prompted the US central bank to radically overhaul its monetary dogma last month and unveil Flexible Average Inflation Targeting (or FAIT) whereby the Fed will allow inflation to run hot without hiking rates – has sparked broad criticism from the economic establishment, even though as we showed in Junedeflation is now a direct function of the Fed’s unconventional monetary policies as the lower yields slide, the lower the propensity to spend. In other words, the harder the Fed fights to stimulate inflation, the more deflation and more saving it spurs as a result (incidentally this is not the first time this “discovery” was made, in December we wrote “One Bank Makes A Stunning Discovery – The Fed’s Rate Cuts Are Now Deflationary“). ... inflation deflation digital dollar
  • 2020 Sep 25...ActivistPo...China's Ant Group launches cross-border trade platform to support SMEs Trusple platform promises to apply blockchain, AI and IoT technology to streamline cross-border trading processes for SMEs. ... Going by the moniker of Trusple, the platform is based around a concept of “Trust Made Simple”, and aims to streamline the process of cross-border trading. According to Guofei Jiang, President of Ant Group’s Advanced Technology Business Group: “Trusple was designed to solve problems for SMEs and financial institutions involved in cross-border trading.” The claimed problems include a lack of trust leading to delays in shipment and payment, along with the additional banking costs associated with verifying the authenticity of orders. To alleviate these, Trusple will use Ant Group’s recently launched blockchain solution, AntChain, which includes technologies such as artificial intelligence, Internet of Things and secure computation. The buyer and seller would initially upload a trading order to the platform, which generates a smart contract on the blockchain. As the order progresses this is then updated with information on logistics, customs and duty, and other pertinent data. According to Trusple, the buyer’s and seller’s banks will then settle the payment through the smart contract on AntChain. .. "ant group" sme trusple iot
  • 2020 Oct 2...StansberryResearch...Max Keiser host of RT’s Keiser Report gets candid when he talks about JPMorgan having to pay a record $920 million for the alleged manipulation of global markets for metals and treasuries. Keiser also speaks with Daniela Cambone about the end of fiat currencies and the rise of Bitcoin, “Let Bitcoin do for you what you cannot do for yourself; get rich,” he says. Keiser is known for having made bold calls on the cryptocurrency, he recently upped his forecast to $400,000. ... and ...Yahoo 'Bitcoin is the best-performing asset class this year': BlockFi Founder ... better than gold, better than the S&P. So there's been a lot of tailwinds recently that have come to the cryptocurrency sector and to BlockFi. ...  because this is a new asset class. It's nascent. It's growing quickly. And it doesn't have access to the traditional sources of debt capital. And as a result, when we're lending, we're able to charge higher rates, and then we pay that back to the folks who are our clients on the front end, whose experience is super simple. They hold the balance, they accrue interest, it gets paid out once a month.
  • 2020 Oct 3...ActivistPost...Smart Meter Complaints from Telegraph UK Readers Similar to Other Ones Expressed Worldwide ... People worldwide DO NOT WANT utility “Smart” Meters – electric, gas, and water. Tens of millions have been installed and millions more are planned despite all their problems – including fires, explosions, and serious cybersecurity risks (see 12). ... These meters DO NOT save meaningful amounts of energy and customer bills usually increase because of them (see 12). They also emit high levels of harmful electromagnetic radiation that can and have made people and animals sick (see 123456). ... Telegraph UK recently published an unflattering op-ed about “Smart” Meters being installed so utilities can ration energy. Readers have responded with additional unflattering comments.
  • 2020 Oct 5...TheBlock... John McAfee sued by SEC for ICO promotions, arrested on U.S. tax evasion charges All stocks could become tokenized, says SEC chairman Clayton Estonia's central bank launches digital currency research project The public token sale for Flow, from Dapper Labs, is already CoinList's most popular ever Under the Hood: International Settlement with DLT [UNLOCKED BY APIFINY]
  • 2020 Oct 10...ActivistPost...Are You Prepared For Imminent US Digital Dollar? ... All Americans know everything costs a LOT more than it used to. However, many people don’t realize that inflation is driven by how much the value of the dollar has declined in the last 100 years. The chart below shows that the dollar has lost almost all its value. ... End of the US Dollar? The U.S. dollar became the dominant currency in the global economy soon after World War I. The Bretton Woods accord in 1944 solidified its position at the top. Since the dollar has been the world’s reserve currency throughout their lives, many Americans assume it will continue to be so forever – or at least for the foreseeable future. However, as the chart below shows, there have been several global reserve currencies in the last 700 years – with an average span of 94 years – and two for only 80 years. The U.S. dollar’s dominance will end when a combination of factors causes investors, governments, and markets to abandon it. The U.S. can accelerate the dollar’s loss of status as the global reserve currency – and has been doing so by escalating debt, increasing inflation (which is now official Fed policy), declining domestic savings rates, and rising deficit.
  • 2020 Oct 14...CoinTelegraph...New report finds 15 major factors that cause crypto prices to rally ...
  • 2020 Oct 18...RT...Russia among TOP 10 countries leading global digital banking revolution ... A new survey by Deloitte has found that Russian banks are among the world leaders in terms of digitalization of their services, exceeding the global average in five out of the six key indicators. The so-called global benchmarking study on digital banking maturity provided a comprehensive outside-in ’mystery shopper’ assessment of 318 retail banks in 39 countries. According to the report, Russia is among the top ten countries leading the way in global digital banking, along with Japan, Singapore, Norway, Spain, Belgium, Turkey, Poland, Saudi Arabia and Qatar. The research showed that in terms of information availability to the client, the average value of the index in the world is 45 percent, while in Russia it is 51 percent.
  • 2020 Oct 18...Forbes...A Former Goldman Sachs Hedge Fund Chief Has Predicted Bitcoin Is About To Surge To $1 Million—Here’s Why ... Bitcoin has found fresh support this year, bolstered by growing disquiet among investors over central bank and government stimulus measures. The bitcoin price, up around 50% since January to $11,400 per bitcoin, has rallied in line with equity markets since a coronavirus-induced crash in March. Now, after the bitcoin and cryptocurrency community was set alight by a bold $1 trillion prediction from a major Tesla TSLA -2.1% investor last month, a former Goldman Sachs GS -1.1% hedge fund manager has said the bitcoin price could hit $1 million in as little as five years—a whopping 1,000% increase. ... bitcoin surge million
  • 2020 Oct 31...Unz...Iran Becomes First Country to Embrace Bitcoin as Medium of Exchange ... The Central Bank of Iran (CBI) announced Thursday that it would be utilizing legally mined cryptocurrency to pay for imports. ... Bitcoin, which political dissidents in the United States and beyond have been using after being locked out of banking services, will be mined by Iranians with subsidized electricity from three of the nation’s power plants. They are the first nation to declare the currency an official medium of exchange. ... Iran is taking these measures due to aggressive attacks on its economy by the United States Treasury, which is controlled by Jewish investment bankers Steve Mnuchin and Justin Muzinich. Under the auspices of Special Representative to Iran and Venezuela, Zionist neo-conservative Elliot Abrams led the sale of $40 million in stolen Iranian oil this week. According to the federal government, the money will be put into the “U.S. Victims of State Sponsored Terrorism Fund.” ...  Targeted countries, whose currencies have been rapidly losing value due to attacks from international finance and more recently the coronavirus pandemic, are beginning to look for alternatives. Last December the CBI announced that it would begin transitioning to the Chinese Yuan as its reserve currency. ... iran bitcoin cbi
  • 2020 Nov 10...BiometricUpdate...The U.S. Army Research Laboratory has patented a way to create detailed, simulated 3D images even in pitch darkness. The images can be used with a facial recognition algorithm, rotating them to match the angle of faces in reference pictures. The system uses a camera capable of capturing the long-wave infrared radiation continuously emitted by a human face. Specifically, the Army’s invention can read the polarization of the radiation. Army officials have since at least 2016 touted the technology as well as a polarimetric face training data set. There were 60 subjects in the database that year.
  • 2020 Nov 16...BiometricUpdate...Biometric smart cards and civic digital identity apps to redefine wallets
  • 2020 Nov 16...ActivistPost...Digital travel credential one step closer with ICAO implementation model approval ... Specifications for the first digital travel credential (DTC) type have been endorsed by the ICAO Technical Advisory Group for the Traveller Identification Programme (TAG/TRIP), bringing digital identity-based travel one step closer to reality, according to the International Civil Aviation Organization’s (ICAO’s) Uniting Aviation. ... A subgroup of the ICAO New Technologies Working Group (NTWG) has developed three different implementation types for DTCs, each based on the biometrics embedded in ICAO-compliant passports. Type 1 DTC checks consist of a DTC ‘Virtual Component’ only, with the electronic Machine-Readable Travel Document (the eMRTD, or ePassport) as a physical authenticator. Data is extracted from the physical credential and stored in a digital container, such as on the smart phone. The physical document acts as a back-up credential.
  • 2020 Nov 18...ActivistPost...UN Announces Biometric Digital ID Wallet .. and an announcement that one of its specialized agencies The International Civil Aviation Organization is one step closer to a internationally recognized digital travel credential. As reported by Biometric Update, this particular UN biometric digital wallet is intended for UN employees and it can be used for data related to human resources, medical status, travel, payroll and pensions. I hope you see where this is going, every aspect of our lives will be centralized digitally using biometrics and in many cases the blockchain, AI and 5G. I can’t help but to raise the question, what kind of social controls could this possibly provide the technocrats if people decide not to obey certain restrictions or requirements? Example: If you didn’t get your latest shot, individuals may face travel restrictions. Or, you may not be able go to work, or your payments may be frozen until you comply. They may not have to mandate anything if they can ‘encourage’ you to obey.
  • 2020 Dec 9...GNews...Facebook, Twitter, Bill Gates’s evil plan with CCP ...Why did Zuckerberg get involved in politics? you know now what Zuckerberg wanted to do. Right! Brothers and sisters, that is right. All this guy wants is that his virtual currency will be approved by the new administration. Just this one thing! As long as his virtual currency is approved. He will 100% run for the president, now you know? ... Do you know why Twitter helped them at all costs this time? It ruined us like this? Do you know what purpose he has besides the CCP? Tell me. What Twitter is planning is that the CCP has promised to fully open the whole search engine and Chinese market to it and then to make Twitter the CCP‘s so—called DCMP, the underwriter of its virtual currency. It will be Google, a combination of China’s Google and Baidu, then it will have the distribution of all CCP’s virtual currency. Then it will be powerful, it will be powerful. It will be a global media “leader” at once. Then it will almost control half of the country, whoever controls the virtual currency will dominate the future. The land will be useless, the virtual money can make your land be mine in a minute. It will be powerful. Once it is the permitted search engine in Chinese market, it has already had the ability. It seems like that I heard they make a deal seven billion dollars at first, but fifteen billion finally. a wonderful search engine company, then it will merge with Twitter,become the biggest world-class English—Chinese search engine. which will be the whole virtual currency’s online agent, user, the dealer, which is powerful. There will be no one else. So all such as CNN will be merged by it, and its stocks will rise dozens of times immediately . quantum computer, IBM, all Quantum Technology Corporations will cooperate with them, they all will cooperate with FACEBOOK、Twitter, then China‘s 5g、quantum technology、virtual currency、network all will be controlled by the few people. What Bill.Gates wants is the full control of the codes of the next coming quantum technology in China and worldwide. All of it, even the Oracle will be swallowed by him, it is the certain end. Then he will puts so-called commercial media like Skype in monopoly position(which owned by himself). Like Zoom、Skype、these office software, all are basically controlled by them. Then take full controlled of the biotechnology, this is called monopoly. All the western capitalist market depends on one word: monopoly. What does the CCP(Chinese Communist Party ) depend on? Bribing. It depends on bribing, using the whole national power to bribe, without the bottom line. ... facebook twitter gates ccp dcmp
  • 2020 Dec 12...BitcoinNews...Morgan Stanley Strategist: Bitcoin Rising to Replace US Dollar as World's Reserve Currency ... Morgan Stanley Investment Management’s chief global strategist and head of emerging markets, Ruchir Sharma, published an opinion piece in the Financial Times ... “US officials were thus confident that, in response to the Covid-19 lockdowns, they could print the dollar in limitless quantities without undermining its reserve currency status, allowing the country to keep running large deficits without apparent consequences,” the strategist continued, elaborating: But a new class of contenders is emerging: cryptocurrencies … cryptocurrencies such as bitcoin are being pitched by their champions as decentralised, democratic alternatives. ... While pointing out that there are bitcoin skeptics, including those who prefer gold, Sharma said, “many people have bought bitcoin in bulk,” as they fear that “central banks led by the US Federal Reserve are debasing the value of their currencies.” This has boosted the price of bitcoin which has “more than quadrupled since March, making it one of the hottest investments of 2020.” ... bitcoin replace gold dollar
  • 2020 Dec 15...NewsPunch...Evidence Suggests Bitcoin Is Psyop To Roll Out One-World Currency ... The creation of Bitcoin and other cryptocurrencies are to speed up the obliteration of fiat currencies in an engineered debt collapse. reports: What evidence supports this notion? First, take a look at this document entitled, “How to Make a Mint – The Cryptography of Anonymous Electronic Cash.” This document, released in 1997 – yes, twenty years ago – detailed the overall structure and function of Bitcoin cryptocurrency. ... Who authored the document? Try not to be shocked when you learn it was authored by, “mathematical cryptographers at the National Security Agency’s Office of Information Security Research and Technology.” The NSA, in other words, detailed key elements of Bitcoin long before Bitcoin ever came into existence. Much of the Bitcoin protocol is detailed in this document, including signature authentication techniques, eliminating cryptocoin counterfeits through transaction authentication and several features that support anonymity and untraceability of transactions. ... Lest you think that the cryptography of cryptocurrency is secure and bulletproof, consider this article from The Hacker News, ‘Researchers Crack 1024-bit RSA Encryption in GnuPG Crypto Library,’ which states, “The attack allows an attacker to extract the secret crypto key from a system by analyzing the pattern of memory utilization or the electromagnetic outputs of the device that are emitted during the decryption process.” Note, importantly, that this is a 1024-bit encryption system. The same technique is also said to be able to crack 2048-bit encryption. In fact, encryption layers are cracked on a daily basis by clever hackers. ... bitcoin psyop one-world currency
  • 2020 Dec 15...NewsPunch...Ten steps to crypto-tyranny – The “big plan” by the globalists (and how it involves Bitcoin) ... Roll out the NSA-created Bitcoin to get the public excited about a digital currency. Quietly prepare a globalist-controlled cryptocurrency to take its place. (JP Morgan, anyone…?) Initiate a massive, global-scale false flag operation that crashes the global debt markets and sends fiat currencies down in flames (hoax alien invasion, hoax North Korean EMP attack, mass distributed power grid terrorism network, etc.) Blame whatever convenient enemy is politically acceptable (North Korea, “the Russians,” Little Green Men or whatever it takes…) Allow the fiat currency debt pyramid to collapse and smolder until the sheeple get desperate. With great fanfare, announce a government-backed cryptocurrency replacement for all fiat currencies, and position world governments as the SAVIOR of humanity. Allow the desperate public to trade in their fiat currencies for official crypto currencies. Outlaw cash and criminalize gold and silver ownership by private citizens. All in the name of “security,” of course. Criminalize all non-official cryptocurrencies such as Bitcoin, crashing their value virtually overnight and funneling everyone into the one world government crypto, where the NSA controls the blockchain. This can easily be achieved by blaming the false flag event (see above) on some nation or group that is said to have been “funded by Bitcoin, the cryptocurrency used by terrorists.” Require embedded RFID or biometric identifiers for all transactions in order to “authenticate” the one-world digital crypto currency activities. Mark of the Beast becomes reality. No one is allowed to eat, travel or earn a wage without being marked. Once absolute control over the new one-world digital currency is achieved, weaponize the government-tracked blockchain to track all transactions, investments and commercial activities. Confiscate a portion of all crypto under the guise of “automated taxation.” In an emergency, the government can even announce negative interest rates where your holdings automatically decrease each day. ...jewish crypto-tyranny globalists ... bitcoin hegelian scheme ... bitcoin false flag ...
  • 2021 Jan 25...Coinivoire...Cryptocurrency literally means hidden money. The invention of Bitcoin as a peer-to-peer digital cash system may be the only tool to avoid what's coming. We've reported on the dangers of a cashless society for years. If authorities can shut off your digital payments, they have complete control over you if cash is not an option. It is the manifestation of the "Mark of the Beast" warned about in scripture. You must have the mark to participate in the beast economy. That mark could require taking a vaccine or be revoked for wrongthink. It is the greatest threat to freedom in all of human history. Government central banks like the US Federal Reserve are launching new digital currencies using similar technology as Bitcoin. This system will be able to track and control all transactions in real time. Some think Bitcoin and cryptocurrencies are part of the beast system because they're also digital. They're wrong. There are very crucial differences. And it is setting up an epic battle between freedom vs tyranny. Good versus evil. Three key features make cryptocurrency a lifeboat for freedom versus the beast system of control... Cryptocurrency transactions are private No one can stop you from sending or receiving cryptocurrency Your funds cannot be confiscated That is the opposite of central bank digital currencies which will spy on your every transaction, block any payment they decide is unlawful or immoral, and confiscate your savings with the push of a button.
  • notes: the main competitors to Coinbase are Kraken, Grayscale, and Gemini
  • 2021 Feb 21...CoinTelegraph...Banks will be required to work with crypto, e-money and CBDCs to survive The global monetary landscape will have everyone storing electronic money, cryptocurrencies and central bank digital currencies in one bank. ... CBDCs require a multi-format framework The traditional financial system can’t brush off new technologies anymore. According to the Cambridge Center for Alternative Finance, the number of cryptocurrency users has almost tripled from 35 million people in 2018 to 101 million people in Q3 2020. Another study, conducted by researchers from the United Kingdom’s Financial Conduct Authority, revealed a 78% increase since 2019. ... So far, the Chinese digital yuan is the only example of digital money issued by central banks that is actually working. Notably, more than 60 central banks around the world are exploring this opportunity. DCEP is built on centralized blockchain technology fully managed by the Central Bank of China.
  • 2021 Feb 26...CoinTelegraph...Many pieces of the Diem (Libra) puzzle still missing as launch gets delayed Besides securing approval from Swiss regulators, Diem seems likely to face opposition from government regulators in many countries. ... Back in June 2019, social media giant Facebook released the details for a much-talked-about digital currency platform dubbed “Libra.” These days, Libra is known as Diem, with the project undergoing a significant rebranding in a bid to smoothen regulatory wrinkles. ... When will Diem launch? In November 2020, the Diem Association announced plans for a limited launch of its project with a U.S.-dollar-pegged digital token. Far from the ambitious plans of a “Facebook coin” backed by a basket of fiat currencies that heralded the debut announcement back in 2019, this new USD stablecoin was a consequence of the successive rebranding attempts necessitated by the vociferous pushback among global financial regulators. ... Intergovernmental bodies, such as the G-7 and the G-20, have also expressed their concerns about stablecoins, with Diem often being singled-out. These bodies have issued numerous papers and research studies highlighting the potential for private stablecoins to disrupt legacy financial systems.
  • 2021 Mar 1...CoinTelegraph...Central bank digital currency a mixed blessing, says RBI The Reserve Bank of India has described central bank digital currencies as a mixed bag in its report on currency and finance for 2020 to 2021. ... India’s central bank has recognized the potential benefits of central bank digital currencies, or CBDCs, but not without including a few pitfalls.... According to the central bank’s report, CBDCs can help to promote financial inclusion and transactional transparency. The RBI also stated that national digital currencies could be useful as an instrument of monetary transmission by helping to engineer public consumption toward specific categories of products and services. ... India is looking to emulate China in creating its own CBDC. According to RBI Governor Shaktikanta Das ... internationalization of the rupee was inevitable but added that such a move would complicate monetary policy formulation and implementation. ... reports indicate that China’s digital yuan will have a more domestic focus.
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