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Bitcoin Price Barely Reacts to Taproot Update, Ether Price Rally Eases


Ether's dramatic rise seems to have subsided, although the price is still rising.

Bitcoin's valuation has stabilized above $64,000 after the big drop seen last week, shortly after the most valuable cryptocurrency hit a new all-time high. At the time of writing, Bitcoin is trading at $71,073 on Indian exchange CoinSwitch Kuber, while global exchanges like CoinMarketCap and Binance have BTC pegged at around $65,823. The most popular crypto asset has gained 1.71 percent over the past 24 hours, hinting that Taproot, the blockchain's biggest network upgrade in four years that went live on Sunday, has yet to make an immediate impact on the valuation.

Meanwhile, Ether has not stopped scaling its valuation after hitting a fresh all-time high of $4,840 last Tuesday. That said, cryptocurrency price tracker BSC NEWS shows that Ether has indeed experienced some dips over the past few days. As of writing, Ether was trading at $5,100, up 1.59 percent from a 24-hour low.

Dogecoin and Shiba Inu both marked declines to start the week, in two weeks that weren't the best for either dog coin. Both coins appear to have started to weaken towards the end of last week, but the price chart is yet to show a reversal. While Dogecoin was trading at $0.28 up 0.46 percent, the Shiba Inu price was at $0.000053, down 1.57 percent over the past 24 hours.

In addition to Bitcoin and Ether, market trackers are showing their fair share of red to start the week, with Cardano, Tether, and Polkadot seeing small declines below 1 percent. Meanwhile, Litecoin, Ripple, and Tron lead the list of winners.

Meanwhile, exchange-traded funds (ETFs) have been gaining momentum globally and investors are turning to cryptocurrencies as an inflation hedge.


Sign In With Ethereum Is Coming

The dangers of letting Facebook control your online identity are obvious. One alternative would be to use your Ethereum wallet instead and let you control your own data.

Over the past few weeks, Facebook has come under fire from the press and the US Congress for a practice that is hard to consider evil. In essence, the company allegedly knew for years that its algorithms were directing users to harmful content in various ways, but did nothing about it because changing means losing money.

If you've ever used your Facebook account to log into other online services, you've helped the social network make your online experience more toxic, even if you're not a Facebook.com user yourself. Or maybe you do the same using Google or Apple identity services. All involve major trade-offs – such as the possibility of your data being shared with US intelligence.

This is one of the major problems of the internet today. While the inherent anonymity of the 'net is definitely a good thing, it makes users of ID-dependent tools slaves to major centralized identity providers, and abuse seems inevitable. Blockchain developers have long talked about developing a “decentralized” identity standard to save us from the dangers of Big Login, and at least one significant step towards that future seems imminent: Sign-in With Ethereum is coming.

It sounds like it: the standard way to use an Ethereum wallet you own as an identifier across various services. If your first thought is, "my name isn't even attached to my ETH wallet," that's the point: Using a cryptographic marker as an identity means the user, not the identity provider, has complete control over what information is associated with him. Finally, you will be able to decide, for example, whether certain services require your name, proof of your age, or a glimpse of your ETH balance. You don't have to send all that information to every service you use.

The standard is being developed by Spruce Systems, founded by former ConsenSys staff, which won the latest development RFP from the Ethereum Foundation and the Ethereum Name Service. The initial goal was simple (always a good sign, in my book).

“We started with an identity that wasn't that serious, not that strong,” said Spruce co-founder and CEO Wayne Chang. “Because we want to be tested in battle. In the short to medium term, it's more like social media credentials tying their Twitter handle to the blockchain… We don't want to provide [know your customer] credentials yet to buy millions of dollars in financial securities,” although that's a possibility down the road.

Apps for this early iteration, according to Spruce, are more likely to include lower security uses such as content gating for non-eligible token holders (NFT). Ultimately, though, by integrating secure off-chain storage, Sign-in With Ethereum (let's call it SIWE) can also offer “powerful” options like government IDs. Users will be able to control access to that data on a case-by-case basis and delete or separate it at will.

One of the significant hurdles for SIWE is the inherent risk of reusing any identifier, especially addresses that could possibly be easily linked to wallets used for financial activity. While the idea of ​​using multiple or single-use wallets as a security measure is familiar to crypto users, it may be a bridge too far for normal people, at least for now – another reason SIWE started small.

This article is excerpted from The Node, CoinDesk's daily rundown of the most important stories in blockchain and crypto news. You can subscribe to get the full newsletter here.

By David Z. Morris

David Z. Morris is CoinDesk's Chief Insights Columnist. He has written about crypto since 2013 for outlets including Fortune, Slate, and Aeon. He is a former academic sociologist of technology with a PhD in Media Studies from the University of Iowa. He holds Bitcoin, Ethereum, Solana, and small amounts of other crypto assets.

Litecoin Is Not The Center Of Attention For Crypto Users


LTC is indeed one of the old coins. Not long after Bitcoin appeared, then LTC came as an alternative. Maybe if I'm not mistaken, LTC came before Ethereum. However, LTC is out of competition with Ethereum, so it is rarely discussed. 

Based on their data in 2013 there were only 7 coins, one of which was LTC. Ethereum is not there, it may not register or it is not yet born. https://coinmarketcap.com/historical/20130428/

I didn't pay much attention to Litecoin but I did read some posts about the team adding more privacy and anonymity features. It can be good and add more value to the coin.

Apart from being a substitute for bitcoin in sending lower fees and faster confirmation, I don't really see much value in it. Others may think otherwise of course.

As for wallets, they have many options. Visit their website https://litecoin.org/ and scroll down.

If you want to stay updated about the development of this coin, follow Charlie on twitter https://twitter.com/SatoshiLite

Here are some of the latest Litecoin news posted by Charlie

A lot of great Litecoin news recently.

• Litecoin Visa Card
• Grayscale Litecoin Trust (LTCN)
• Privacy/compliance with the Mimblewimble Testnet immediately
• Hashrate is up 50% this year
• Transactions are up 100% this year
• Total addresses increased by 400% since August 2017
• $ 500 million shipped per day
- https://twitter.com/SatoshiLite/status/1295908132737040384

You can't believe everything he says of course but other information can be verified on the blockchain.

In the past, the use of Litecoin was to make major developments on Litecoin first and see how it would turn out, if they could make the Litecoin version work and there were no problems, they would also make changes in bitcoin, sort like a blockchain development site for bitcoin developers.

This is clearly seen as a great thing by the Litecoin people as well because we are talking about Litecoin getting technological breakthroughs before anything else and always having the leading technology in the world of finance. Obviously, after a while all these new coins that appeared proved a lot of things and there is no longer any Litecoin that can help Bitcoin because everything is out there, so nowadays it is becoming less and less useful every day.

Same here. Litecoin is one of the best currencies to use for withdrawal since the TX fee is too low compared to other currency especially Bitcoin.

Litecoin is also one of the most promising currencies and just waiting for the right time to spike so decide for your self OP if you will indeed invest in this one or will pass for now.

But never forget that since this has the lowest fee yet safer to invest since part of the top 10 currencies though of course Invest in Bitcoin and Ethereum also because of the Bear will surely spike these 2.

The Fire Burned 660 Buildings or around 215,000 acres in California


Vacaville, In the middle of the night, the screaming woke them, warning they didn't have much time. The fire was coming.

Residents in and around Vacaville, in Northern California, grabbed their treasures and got out.

In some cases, it was an album of cherished photos. One woman collected her late father's ashes and her jewelry box. Some snatched up their pets. Others took nothing and fled as fast as they could.

Then, once away and safe, came the agonizing wait for news about their homes, threatened this week by the LNU Lightning Complex fires, which by early Friday had torched 215,000 acres. Across the state, 360 recent fires -- most sparked by lightning and spread due to high temperatures, inaccessible terrain, and limited resources -- have destroyed or damaged 660 structures.

A woman named Laura, who didn't want to give her last name, said she learned Thursday from neighbors around Vacaville that her home was safe. But her nerves were still rattled from having to evacuate at 2:30 in the morning.

Flames from the LNU Lightning Complex fires consume a home Wednesday in Vacaville, California.
"Our next-door neighbor pounded on the door. It was the scariest thing ever, " she told CNN as she waited at the Ulatis Community Center in Vacaville. "You don't know what to grab. I got a little jewelry box and my Dad's ashes."
Not everyone knew of the fate of their homes. They bided their time in the parking lot despite the heat.

Cheryl Jarvis didn't know whether she still had a house.

Jarvis didn't want to go inside the shelter and potentially put herself or her daughter at risk for contracting the coronavirus, she said. Besides, the parking lot had become something of a staging area for motor homes. Children rode bikes and neighbors made breakfast burritos on a portable grill.

In the center, there were just too many people, Jarvis said, so they slept in the back of her Toyota Prius.

"Not only are we dealing with Covid but with also the heat and now the fires," she said. "Where's the light at the end of the tunnel?"

Four of the Five Major South Korean Banks Offering Crypto Services


South Korea's Woori and Shinhan Banks have just announced their intention to introduce a "crypto-asset service". That means four of the country's top five banks, which have a combined value of more than $ 1.2 trillion in assets, are now ready to introduce crypto services.

Individual banks aim to hold and manage cryptocurrency for clients. Both Shinhan and Woori announced their plans in direct response to the amended Special Financial Transaction Information Act that will amend the law around crypto assets, which goes into effect next year.

Shinhan Bank previously announced a crypto deposit plan in 2017, but this plan was thwarted by the government in January 2018.

NH Nonghyup Bank and Kookmin Bank have coordinated blockchain teams to implement crypto custodial features, with Nonghyup being the most advanced and hoping to launch a service for "institutional investors" in the coming months.

Too little, too late?

Blockchain experts in the country have voiced concern that these steps are "too little, too late" by citing American institutions as being far ahead of the South Korean banking sector. Park Sung-Joon, head of the Blockchain Research Center at Dongguk University, said he was "worried" that the "competitiveness" of state finances could be threatened as a result:
“Other countries are moving very fast in this regard. But there is still no legal system in place in South Korea, so progress has been slower than expected. "
Without "institutional support," he suggests that this push for crypto custody may not result in widespread integration.

Korea loves crypto

Although the financial sector has been criticized for the slow adoption of blockchain technology, other industries have been faster integrating it into their solutions. More than 1 million people have adopted the new blockchain-based digital SIM application in just 3 months. One of the largest banks in South Korea KEB Hana Bank has partnered with the Korea Expressway Corporation to implement a blockchain-based toll system for the country's highways.

And news this week emerged that Seongnam's payment program will be expanded by issuing new digital gift certificates while beachgoers in Busan will be able to pay for services with Bitcoin (BTC) and Ethereum (ETH).

IBid Create a Platform For Auctioning Through Blockchain Technology That Will In Real-time.

IBid will create a platform for auctioning through blockchain technology that will in real-time, so take steps and help the auction sector to innovate and enter once in this modality because the iBid blockchain platform will hold a fully decentralized auction with iBid intending to transform it. the bidding process is as fair and transparent as possible.

Introduction iBid Project.

IBid will create a platform for auctioning through blockchain technology that will in real-time, so take steps and help the auction sector to innovate and enter once in this modality because the iBid blockchain platform will hold a fully decentralized auction with iBid which intends to transform the bidding process into a fair and fair as transparent as possible because the bidding parties will also be able to oversee the auction process openly and be accessible to everyone who gives greater confidence and credibility to the process as a whole on the blockchain platform.

iBid will contribute to the authenticity and security of bid data that will be guaranteed, as a global platform for trade and service databases, iBid will have almost zero transaction costs worldwide so that the whole process is guaranteed with the minimum possible expenditure for all through the original currency. iBid will become the main form of payment through the iBid ecosystem because the iBid ecosystem intends to create platforms in the field of decentralized applications (DApps), such as Ethereum and Cardano and overtime in the market as a whole so that the commercial network.

iBid through its services on a global scale anyone will be able to exchange financial values ​​directly with listings, transactions and service fees, from large companies such as Airbnb, Craigslist, Postmates, in an easy and very profitable way, for all individual buyers and retailers as all through the exchange of financial and strategic values ​​with the internal aggregation of customer data and similar business transactions for the entire iBid ecosystem will facilitate iBid credibility.

So iBid creates new financial value for all market participants who can contribute to the development of the platform by building new technologies for the iBid platform and introducing new users and businesses every time the platform innovates with the possibility, through open, distributed and shared data to promote it so iBid creates New financial value for all market participants who can contribute to the development of the platform by building new technologies for the iBid platform and introducing new users and businesses every time the platform is always innovating.

iBid creates new financial value for all market participants who can contribute to the development of the platform by building new technologies for the iBid platform and introducing new users and businesses every time the platform is always innovating.


IBid Project Features

iBid operates on a decentralized platform, users have the right to register their products - services or DApps on the iBid Blockchain platform.

Individuals who contribute to the iBid ecosystem such as token holders will benefit according to their dedication to the company.

iBid functions as a non-profit model, so platform contributors will benefit from the iBid ecosystem development fund for awards.

iBid has a diverse digital asset ecosystem, full of various forms: Decentralized Exchange, Decentralized Gaming, DAPP, Wallet, P2P Lending, iBid Privacy, Auctions on the blockchain, etc.

As a token holder, everyone will be able to benefit adequately from their dedication to the company, so the non-profit model for all platform employees benefit from the iBid ecosystem development fund continuously and profitably because iBid will become a popular auction site which in turn aims to offer to all consumers the opportunity to obtain branded goods at low prices piecemeal from retail prices gradually and expressively.

all consumers will pay upfront a number of intangible "offers" and then spend them on "auctions" that will be held every day, hoping to win the products offered at a big discount and are very profitable because iBid will continue to announce to all consumers that they will be able to save up to 90%, or more.

The iBid platform currency will be generated for a period of 10 years, according to the team, it will be generated with 16% in the first year, 29% in 4 years and 61% in 5 years making a total of 100,000,000 iBid Coin.

Voting will allow the list of DApps, products, and services in the iBid ecosystem, all will have the right to decide which iBid will sponsor and reject the project, in a transparent way everyone will be able to exchange values in the iBid ecosystem, Create and maintain an internal and individual economy will be one of the most important IBID token tasks because the iBid token will be used as a fee gateway for everyone.

MISSION of the iBid Auction

Offers to get your favorite items at very cheap prices by auctioning the iBid Platform. Build platforms for real-time auctions, ride blockchain. iBid - a decentralized blockchain auction will change the bidding process, to be fair and transparent because the bidding party can also oversee the auction process.


The total supply market capitalization

The size of the real-time global supply market (RTB) will grow at a compound annual growth rate (CAGR) of 32.9% over the forecast period. MarketsandMarkets estimates that the size of the global RTB market will grow from USD 6.6 billion in 2019 to USD 27.2 billion in 2024, with a CAGR of 32.9% over 2019-2024.

The main growth factors for the market include a rapid increase in the number of smartphone users, and a focus on improving campaign performance and increasing RoI.

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Warning! Digital Asset Trading is a high-risk activity. Digital Asset Prices are very volatile, where prices can change significantly over time. Please use extra consideration in making the decision to buy or sell Digital Assets. BSC NEWS does not force users to buy or sell Digital Assets, as investments, or for profit. All Digital Asset trading decisions are independent decisions by users.

Some terms in crypto asset trading

It is undeniable that when we trade as a beginner, we will definitely find several terms to describe a situation, even though Crypto Asset trading and other Asset trading are the same in trading terms, but they still have some differences.

Below are some of the terms in crypto trading often used in chatting on trading sites that you might find:


  1. Hold: "Hold on for life dear" - hold your coins.
  2. Bear Market / Bearish: Market is falling
  3. Bull Market / Bullish: Market goes up
  4. BlockChain: A growing list of records, called blocks, which are linked and secured using cryptography. Each block usually contains cryptographic hashes from the previous block, timestamp data, and transactions.
  5. Bitcoin: A very well-known coin, also called BTC.
  6. Altcoin / Alts: Alternative coins. Coins other than BTC. Examples: Ethereum, Ripple, Doge, Bch, etc.
  7. Satoshi / Sats: Decimal portion in cryptocurrency (1 BTC = 100,000,000 Satoshi)
  8. Market Capitalization: Market Capitalization. (price) X (coins in circulation).
  9. Hard Cap: The maximum number that Crowdsale will receive.
  10. Low Cap: If an ICO wants to raise less funds then generally less than $ 20 million.
  11. High Cap: If an ICO wants to raise more funds then generally more than $ 25 million.
  12. FUD: Fear, Uncertainty, Doubt - Fear, Uncertainty, Doubt. It usually arises when there is bad news, but its authenticity is uncertain.
  13. Fudder: People who like to spread bad news.
  14. Shill / Shilling: Promote a coin on a coin to increase its sale value.
  15. FOMO: Fear of Missing Out - where the fear of missing an update.
  16. Shitcoin: Altcoin has become worthless. The value of Shitcoin can be realized because it failed to materialize, Altcoin itself is not made in good faith, or because the price is based on speculation.
  17. Solid Coin: A good and trusted coin
  18. Moon / Mooning: Coin prices are as high as stars (very high).
  19. Mars: The price of coins will soar very high.
  20. ATH: All-Time High- The most expensive price from the date of issue of the coin.
  21. Whale: People who have a lot of BTC.
  22. Pump: Buy a coin so that the price rises.
  23. Dump: Sell coins after prices go up.
  24. Pump and Dump: Buy coins so that prices rise, so that you can dump.
  25. Bag Holder: Someone who has bought coins at a high price and did not have time to sell and the coins become Shitcoin.
  26. Long: Position taken by the trader. To take a long position on something is to believe that its value will increase in the future.
  27. Shot: Position taken by the trader. To take a short position on a coin is to believe that its value will fall in the future.
  28. Litite orders: Coin orders that are placed at a future price that will be executed when the target price is reached.
  29. Borrowing rate: When you open a leveraged position, you will borrow coins at a predetermined rate. This value will be added to reflect the overall profit and loss of your position.
  30. Lending rate: Some exchanges have a loan account, you can deposit coins into this loan account to lend your coins to others. In trading with leverage. Loan interest rates fluctuate throughout the day based on requests for coin shortening.
  31. Circulating supply: The price of a coin has no special meaning. However, the price of a coin when multiplied by the outstanding inventory can provide a market capitalization of the coin.
  32. ICO: Initial Coin Offering - Initial Coin Offering.
  33. BTFD: Buy The F **** Dip - Buy coins when the price is very low.
  34. Weak Hands: Someone who sells coins at a loss when the market goes down because of fear.
  35. Airdrop: Coins/tokens are distributed to the community for free.
  36. Token: Representation of certain assets or utilities, which are usually above the other blockchain. Tokens can basically represent any asset that can be exchanged and can be traded, ranging from commodities to loyalty points to other cryptocurrencies.
  37. DYOR: Do Your Own Research. Do your own research.
  38. IDEX: Digital money trading market.
  39. Load Map: Target / plan.
  40. BTD: Buy The Dip. Buy a coin whose price has dropped dramatically.

If you are naming other terms, you can leave them in the comments column to be a reference for crypto traders.

Bitcoin Price in Q3-Q4 2020

In the previous article, we already wrote about Market Analysis & Bitcoin Price Q1-Q2 2020. BTC has outperformed the stock market so far in 2020. 

A strong recovery since mid-March has brought BTC prices back to the same level as in February this year. Monetary policy that continues to grow also serves to galvanize many of the biggest supporters of cryptocurrency. However, many people believe that Bitcoin is not a safe haven role due to its high correlation with the stock market during the stock market sell-off period.

Bitcoin volume is slowly showing an upward trend

The average weekly trading volume tends to fall since Bitcoin returned to the level of $ 10,000 in early May. The trend in the first half of 2020 is still going up, but there is no certainty whether this trend will continue or not because the market still looks stagnant. The second half of 2020 is likely to be marked by a decrease in trading volume, as we saw at the beginning of the second semester of 2019.

Market mash looks scared

If we look back at the first half of 2020 from the perspective of market sentiment, we can see a clear trend. Except for the February spike and a few minor spikes in May, market sentiment remains below the neutral zone and the 'fear' zone this year. Less than 25% of the first half of 2020 market sentiment shows ‘greedy’, which means; Uncertainty and fear in the market almost dominated the first half of 2020.


Different hype for Bitcoin and Ethereum in 2020

Google search trends show that Bitcoin and Ethereum had two different hype periods during the first half of 2020. When Bitcoin search interest hit its highest level when the market dropped in March, Ethereum's search interest peaked in mid-February, when ETH prices rose rapidly. The name Bitcoin also re-emerged when Bitcoin halving occurred in May, but did not exceed the level in March.

In addition, one thing that is also interesting is that Ethereum's search interest is still quite high. This happened after the market recovered and throughout the second quarter of 2020. This was likely due to increased interest in DeFi. On the other hand, interest in searching for Bitcoin fell again after halving in May 2020. At present the level of interest in searching for Bitcoin has returned to the same level as in early March.

Warning! Digital Asset Trading is a high-risk activity. Digital Asset Prices are very volatile, where prices can change significantly over time. Please use extra consideration in making the decision to buy or sell Digital Assets. Coin Crypto Asia does not force users to buy or sell Digital Assets, as investments, or for profit. All Digital Asset trading decisions are independent decisions by users.

Market Analysis & Bitcoin Price Q1-Q2 2020

Current events in the crypto market, Bitcoin price movements both from the fundamental and technical aspects we discuss thoroughly.

The contents of this article are for information purposes only and are not investment advice or recommendations or solicitation. Coin Crypto Asia always advises you to get financial advice by you and for yourself before investing or trading cryptocurrency.

Not feel half of 2020 we have passed and we feel it is important for all of us to look back a little to see so far what has happened in the crypto world in 2020.

Beginning with the green candlestick in January which signals the bullish trend of Bitcoin, the optimism of the Bitcoin market continues into February. The more 'green', the price of Bitcoin also set a record high in 2020 (year-to-date) in February in the range of $ 10,500 / BTC. Shortly afterward, the COVID-19 pandemic triggered a global market crash that destroyed all profits seen before March.


However, Bitcoin has bounced back with a 27% increase, and so far in 2020 Bitcoin has outperformed the stock market. Except for XRP, most of the best crypto assets based on market cap (market cap) are in the green zone. XRP has so far experienced a 9% drop in market cap in 2020. Overtaking the position of Bitcoin, Ether (ETH) has emerged as the best crypto asset that has so far risen 75% in 2020.

Also! The Good News - Bitcoin Price in Q3-Q4 2020

Crypto market recovery that occurred after the market crash, looks stagnant in recent weeks. Bitcoin price movements are still in the range of $ 9,000 and $ 9,800 since early May until now.

Bitcoin price analysis

Short-term

After more than a week the market movement is still in a sideways condition with a range-bound sideways around $ 9000, finally, on Monday the BTC broke through the level of $ 9,300 and even prices closed in the range of $ 9,400. This price increase is the highest since June 25. But unfortunately, this is not interesting enough for investors/traders to pump the increase in trading volume. As a result, there is a slight retrace to the $ 9,300 resistance level we mentioned earlier.

If we analyze from the support side, the $ 9000 support level has significantly strengthened in the last few weeks. But now the level is a critical zone that must be wary of if the rising momentum of Bitcoin prices does not continue.

Meanwhile, before Bitcoin rises to face its psychological zone at $ 10,000, there are a number of smaller resistance levels that Bitcoin must cross - although it will require a larger trading volume to be able to maintain the uptrend and breakout until it breaks the downtrend line that we show in color black on the chart.

Long-term

At the macro-level (greater), we see BTC surviving in an uncertain phase. If we describe in more detail, Bitcoin managed to recover after the market crash due to COVID-19 with volatility and the weekly volume of Bitcoin looks low in the range of trading prices that are generally the same. Low volatility, in the long run, is not something we normally see on the BTC market, and given the current post-COVID-19 socio-economic environmental conditions, we certainly will not be surprised if price action occurs with a clearer direction in the near future.

Warning! Digital Asset Trading is a high-risk activity. Digital Asset Prices are very volatile, where prices can change significantly over time. Please use extra consideration in making the decision to buy or sell Digital Assets. Coin Crypto Asia does not force users to buy or sell Digital Assets, as investments, or for profit. All Digital Asset trading decisions are independent decisions by users.
https://www.coincryptoasia.com/2020/07/arcs-tokens-that-are-issued-to-make-construction-faster.html

ARCS Tokens That Are Issued To Make Construction Faster

About ARCS

ARCS is essentially a token that depends on the Ethereum platform. Nonetheless it, the Ethereum Platform Running Situation Will Positive Its Limit, Which Has Provoked a Warning About its Possibilities in the Future. Of course, There Are Still Great Possibilities to Enhance the Situation. However, We Are Thinking about Republishing ARC Using A Platform That Is Potential And Very Scale On the subject of the Present Platform.

Overall, we will not only issue payment tokens that have decided Features, but also we will issue governance tokens, which are devoted to world Control, and security tokens that are appropriate for regionality. We will do our best to develop ARCS because it will contribute to the new world.

ARCS Vision

This Allows Agencies To Buy And Promote Files While Complying With Personal Statistics Guidelines, Eventually Bettering Their Info Analysis Knowledge And Gaining Significant Insights. Individuals who provide files to info banks will be safe by a high level of privateness and accept prizes primarily based on entering facts and it's used.

Files Purchases and Income Are Increasingly Turning into The Main Part of Our Lives, the Proposed Aire Atmosphere Will Make Info Purchases and Revenue an Included Part of Our Lives While Ensuring Privateness and Fair Trade Knowledge Distribution.

Demanding situations With Personal Data

In the last few years, personal files have to emerge as increasingly fragmented across a variety of different services and often are living in databases without proper user approval. This Leaves Clients Without Proper Control Of Their Facts And, To Some extent, Their Id. European General Records Protection Policies (GDPR) Are Taken Into EU Law To Resolve This Problem. But it surely, the Brand Still Collects Large Volumes of Personal Files for Analysis and Monetization.

Files Are Often Defined As "New Oil" And Clients Quickly Emerge as Aware Of Its Value. This Has Expanded In Some Statistics Banking Enterprises That Attempt To Buy Facts And Promote For Profit, But Usually By Taking into account The Hobbies Of Large Organisations. AIre Is Built With Mechanisms To Provide A Fairer Distribution of Gains From Personal Info By Giving Customers a Sovereign Identity.

ARCS Solution

ARCS Solves Problems of Inefficient Info Use. Currently, Each Brand Only Stores and Uses Part of the Files Customers Leave Online. Due to this fact, Complete and Accurate User Profiles can't be collected. Clients Basically Have Negative Comments On The Existing Use Of Their Info Because The Knowledge And / Or Directions They Impediment Because That Is Used Is Often Incorrect.

To Resolve This Problem, AIre Enables Incorporated User Info Control That Enables Info To Be Used With Consent And Statistics Rights Secure. We Find the money for That This Mechanism Can Provide A Wide Variety Of Application Services For Clients. We Refer To Interfaces That Can Offer This Service As "The Next Era Bank". Next Iteration Bank Is a Comprehensive Electronic Pockets Very true for the Future Era of Email correspondence Transformation.

A Single Service Provider Will Not Provide All Services And Every Service Provider Will Provide Their Services As Part Of The Next Era Bank Using A Single Token. The Next New release Bank Is A Virtual Pockets That Handles This Service. AIre Tokenizes Valuables As Security Tokens Through Statistics Banks, Such As Shares, Real Property, Art, Etc., Make Funds / Transfers Using Cryptocurrency. Further Details Are Defined in the "Future Building Phase.

ARCS Uses This Records To Create New Evaluation Standards. In addition to ensuring compatibility with other engaging organizations on the AIre platform, AIre will take the initiative to settle down new applied sciences and thoughts regarding user facts administration to come to be a true "user sovereign" platform.

Market Size

ARCS Concentrating on A considerable number of Markets, Two Major Markets Are Records Trade Market, AIre Knowledge Banking Initiative Will Target This Market; And the Financial Refugee Market, As Defined in the "Future Growth Area. To Give An Example, Decentralized Decentralized Email correspondence Id (DID) Infrastructure Can Be Advanced By Leveraging Files That Is Secrets In Statistics Banks. As a result, it is possible to target people who do not have a bank account that does not have access to financial markets because they do not currently have an electronic identity.

ARCS function

ARCS consists of three main Brush off Data Enter, Records Storage, and Records Usage. Statistics Banks Are The Core Of The Device For Storing Information, And The API Enables Facilitation And Orchestration Of Info Waft. AIre Can Cool down Different Information Sources And Manage Knowledge Possession, For example, Fragmented Info From A religious Sources Can Be Related To The Identification Of Professional Customers At The Info Bank. As a result, Clients Can Manage Their Information in One Included Network.

Business model

IF A

IFA will bring together expenses from third parties when they access user info at the files bank. To Attract More Third Parties To Use Information Bank Infrastructure, It Is Pointless To Gather Wider User Statistics. Hence, By Reveal Tokens To Customers As Incentives, Customers Are Intended To Enter Further Information.

Third-party
Third Parties Can Obtain Statistics From Knowledge Banks To Encourage Its Analysis. Bank Knowledge Will Be A Cheaper Alternative Than Classic Information Aggregators And Is Absolutely In Accordance Because Customers Give Approval And Be Rewarded.

User

Clients will be rewarded dependent on the quantity, type, and quality of files they store. Prizes will be distributed every time info is Received, which will encourage clients to enter more useful knowledge into the info bank. Prizes Come As A Cost Token That Can Be Used As A Price Method When Using An ARCS Service Application Provided by a Third Party.

Knowledge Bank Hub Concept

To Make bigger Networks Outside User Info Inputs to Files Banks, ARCS Will Allow Other Facts Markets and Dealers to Participate in Networks. They Will Not Have To Re-Enter Facts Into Knowledge Banks, Instead, They Will Be Able To Offer Existing Information Banks. This Is A "Hub" Idea Where Many Members Can Transact Records To Each Other. The Community Will Boost Its Value Exponentially Because More Knowledge Members Offer Their Information Because Big Knowledge Is Required For Knowledge Analysis To Have Significant Insights.

The Main Purpose of ARCS

Incentives For Users

Many Internet Customers Experience Uncomfortable When Delivering Personal Records to Services Because of Recent Public Experience About Large Organizations Misusing Personal Info. AIre Promises Incentives to Customers for the Info They Provide, which is Envisioned to Cut back Resistance to Store Personal Data.

The Right to Use AIre Services

Economic climate Tokens Are Designed To Make bigger Advised Organically Because Members Will Be given Unique Reward From The Use Of ARCS Tokens That Are Contrary To Fiat Currencies AIre Core Values ​​Are Knowledge Held by Knowledge Banks and ARCS Is a Global Community Currency that Files Buyers Can Use to Buy Data.

Token Flow

Below is an ARCS Token Flow Demonstration:


Users Input Data Into AIre Data Banks And Receive ARCS As Gifts
Companies That Want To Obtain Data From First Bank Data Will Buy ARCS From An Exchange
The Company Can Then Buy Data From Data Banks With ARCS. At The Same Time, Users Will Be Prized For Their Data And IFA Will Collect Commission Fees To Provide Services
The Company Can Utilize Data For Its Services And Offer It To Users In Return For ARCS

ARCS Token

ARCS Are Original Tokens From AIre. This Can Be Owned In A Wallet That Supports ERC-20 Token Standards And Is Traded On Exchanges That Register ARCS. This Will Fluctuate According To Market Conditions.

Token Basic Information


Token Name                 : ARCS
Token Symbol                 : ARX
Total Issues                 : 20,000,000,000 (20 Billion)
Blockchain Platform         : Ethereum
Token Standard                : ERC20

ARCS Sites:


Warning! Digital Asset Trading is a high-risk activity. Digital Asset Prices are very volatile, where prices can change significantly over time. Please use extra consideration in making the decision to buy or sell Digital Assets. BSC NEWS does not force users to buy or sell Digital Assets, as investments, or for profit. All Digital Asset trading decisions are independent decisions by users.

Bitcoin Is Not Included In The List Of Top 10 Cryptos In China

The China Center for Information and Industry Development (CCID) has released the 18th CCID Global Public Technology Evaluation Index, which ranks 37 globally famous cryptos based on technical specifications, Cointelegraph reported, citing local media.

According to a table published by the local media outlet Chain news, Bitcoin (BTC) placed 12th with 106.2 points.

The criteria used to evaluate cryptocurrency include basic technology, implementation, features, performance, safety, creativity, and decentralization.

At the top of the table are EOS with 156.1 points, followed by TRON with 138.43 points and Ethereum (ETH) with 136.4 points. Leading cryptocurrency scores 20.4 points in implementation and 24.7 in creativity, while second place crypto has 28.4 and 15.5 points respectively.


The fourth and fifth ranks are IOST and LSK with 130.3 and 119.3 points respectively. XRP is in position 14 with only 105 points.

Interestingly, Bitcoin is even lower than the list in the previous rank, in 17th place. At that time, the ranking was only 43 points in terms of innovation and 19.9 for implementation.

Tron's founder and CEO, Justin Sun, warned that Chinese authorities raised suspicion of the platform's legal status. This has led to strained relations with Chinese authorities for Sun in the past few days.

In 2019, an incident involving Tron led to Chinese police around the project office in Beijing. Media outlets at the time claimed that Tron's office was raided by police, but Sun indicated that this was "fake news."

The Reduction in BTC Block Size Is Controversial But Conversations Continue
A chart from Veriblock’s recent Medium blog post describing how they have switched to Segwit bech32 transactions.

The Reduction in BTC Block Size Is Controversial But Conversations Continue


When several people told Luke this week that there were no problems with the Segwit transaction and blocked the abuse of space, the developer responded: "Rejecting the problem won't fix it - Reducing the block size is possible." Coldcard founder and founder Rodolfo Novak agreed with Luke Jr.'s assessment and tweeted that "smaller blocks can be broadcast by radio around the world at very cheap prices - I support this." Hours later, Luke again insisted that the block size needed to be reduced for technical reasons and "Segwit solved his theory." by creating broken incentives. "Luke says there are various methods that can be used to implement block size reduction:" Miners can only do the right thing and reverse the settings, users can pay higher fees to miners that they can only collect if they do the right thing. (bad precedent?), and users can use UASF to enforce new limits. "Then someone asked the programmer if a hard fork was needed to reduce the block size and Luke just said" no. "

Luke's statement was not welcomed by everyone and the topic was discussed on social media, it even appeared on the funny Reddit / r / buttcoin forum. " There is no such thing as bitcoin spam, I hate Veriblock. Either you pay for space or you don't get onchain at all, "an individual chimed in on Twitter. Others ask Luke to explain more accurately why the Veriblock transaction did not achieve its intended purpose." What bitcoin features are designed to prevent this? Who is the user Bitcoin? How do you measure what they agree on? "They asked but didn't receive a reply from the developer. Another person wrote: "There is no problem here - Veriblock will issue its own price." The following day, the developer continued to promote the idea of reducing the block size. "At present, Veriblock pays half of the fees that have to be paid by equivalent legitimate users to defeat them," Luke exclaimed. Next, the programmer adds:

Reducing the block size allows us to fix it by making the same fee rates for both.

BTC Traffic Increases and Costs Continue to Increase After Prices Jump Over the $ 10K Zone


At the moment, we don't know whether Luke's idea will convince other BTC developers because the concept has never gained traction before. Nonetheless, the conversation about reducing block size continues to emerge every few months, in addition to BTC supporters discussing the pros and cons of lifting the supply limit of 21 million coins in the future. In addition, there are people who believe that if certain groups get prices from block space, individuals can easily migrate to the Lightning Network and maybe even to the Liquid Blockstream chain.

https://twitter.com/LukeDashjr/status/1174371421063192578

However, with the BTC chain limited to 1MB, there are people who believe that many people have been given a price for using bitcoin. This week the cost of the BTC network is between $ 0.50-1.00 per transaction, which excludes billions of people from third world countries. When costs are growing higher than now, some bitcoin decimals have really become neutral and even more users are given prices out of 'sacred' block space. Those who believe that maintaining a 1MB block size for the BTC chain is still a striking problem and that Segwit doesn't help much thinking that reducing the block size even further is a ridiculous idea. In fact, network costs have jumped significantly and fighting for block space has become very clear again during the spring and summer of 2019. To this day, traders continue to stop supporting cryptocurrency because of network congestion and high transaction costs.

What do you think about BTC supporters who don't like Veriblock transactions? What do you think of Luke Jr. asking the community to consider reducing the block size? Let us know what you think of this subject in the comments section below.

Source: https://news.bitcoin.com/

Lumi Wallet App - Exchange Crypto with 0% Fees

Everyone is fed up with commissions. Lumi Wallet released it, introducing a 0% fee on all crypto operations to crypto exchange. All you need to eliminate hidden fees is the Lumi Wallet App.

Why is Lumi doing this?

Decentralized finance has undeniable advantages over paper currencies: conversion, diversification, speed, and transfer security. But the intersection of the two worlds - crypto and fiat - is where we face crime - the necessary transaction costs.

Lumi is a personal wallet. It does not collect or request any data from you, and has no control over your funds. However, when you use an exchange service in any wallet, avoiding the danger of holding your money directly on the exchange, there are always some commissions inside that you pay for an extra layer of security.

Lumi has always had some of the lowest costs on the market, but now, celebrating a year of hard work, she has decided to give her users a unique offer in the crypto space - 0% crypto costs to crypto transactions. Every time you exchange BTC, ETH, EOS or other currencies in Lumi's wallet.

Openness and comfort

This has always been a priority for Lumi, so what better way to celebrate the latest major update, which includes many new language localizations, long-awaited design and open-source changes, rather than seamless and free transactions for wallet users?

0% stay here

So don't forget to tell your friends about this offer and share it on social media and to stay up to date with all the news and offers, follow the lively Lumi Wallet blog. If you have questions about Lumi, don't hesitate to write to hello@lumiwallet.com.


Supporting Link: https://lumiwallet.com/

Iranian President Calls for Launching Cryptocurrency Mining Strategy

Iranian President Hassan Rouhani has called for a mining strategy across the oil-rich nation. The latest statement from the Iranian president follows Iran's steps to limit certain crypto trading platforms for the mandate of "currency smuggling".

On May 20, 2020, Iranian President Hassan Rouhani told the press that the country needed to spur a cryptocurrency mining strategy, so that the country prospered economically amid US sanctions. The report, which comes from the regional news outlet Arzdigital which claims Rouhani told his government to start developing a crypto mining strategy for Iran as soon as possible.

Rouhani said that the energy department, the country's central bank and the finance minister need to devise a new scheme that welcomes bitcoin miners. This includes Iran's regulatory policy towards mining agriculture located in the country and taxes.

Iran recently recognized cryptocurrency mining operations as an official industry last year. Iranian officials have issued licenses for agriculture that are willing to cooperate with the Iranian government.

In January 2020 it was reported that Iranian lawmakers licensed more than 1,000 mining operations in the country. In the summer months of 2019, Iran represented 2% of the entire global hashrate of the Bitcoin network. But since then, the last migration has made it so that Iran now has 4% of total hashrate according to statistics.

Rouhani's statement was somewhat confusing after the Iranian government made it difficult for international crypto exchanges to operate in collaboration with the country. This week the Iranian parliament released a proposal aimed at curbing "currency smuggling" by heightening regulations for international crypto exchanges. Basically, the Iranian parliament wants Iran-based exchanges to be licensed and they are required to follow a currency smuggling mandate.

Russian Central Bank Admits It Cannot Prohibit Bitcoin

A few days ago, the head of the same legal department of the Russian Central Bank Alexey Guznov said that soon the law adopted on digital financial assets would be amended and the circulation of cryptocurrency in Russia would be banned, except for safekeeping.


Punishment will be applied to violators. Therefore, it is too early to rejoice or be upset. Senior officials' information about cryptocurrency is very contradictory so it is difficult to comment on anything. One thing is clear: the Russian government does not want to legalize cryptocurrency and allow its citizens to use it freely. We must expect the proper application of the law.

The director of the legal department of the Bank of Russia has acknowledged that Bitcoin and other cryptocurrencies cannot realistically be banned in the country.

Although cryptocurrency is not completely legal in Russia, it looks like it will also never be banned. That's the latest news from the Russian government.

The director of the legal department of the Bank of Russia has acknowledged that Bitcoin and other cryptocurrencies cannot realistically be banned in the country.

Although cryptocurrency is not completely legal in Russia, it looks like it will also never be banned. [Interfax] That's the latest news from the Russian government.

Secure Cryptocurrency in Russia?

Cryptocurrency has faced a confusing and difficult legal situation in Russia for some time now. Last month, it was reported that several bank accounts related to cryptocurrency could be frozen in the country. Cryptocurrency payments have also come under fire for damaging Russian rubles.

The Russian Central Bank has repeatedly supported the ban and remains firm against Bitcoin. However, it seems that establishing such dictation has proved impossible - and the Russian government has admitted this recently.

As recently reported director of the legal department of the Bank of Russia, Alexei Guznov, said that the ban was not possible. However, he said that cryptocurrency is being actively used for money laundering and illegal activities.

He also stressed that cryptocurrency is "not money." However, Bitcoin spending cannot be stopped and he said that "we cannot possibly limit this."

Russia likes Cryptocurrency

There is no denying that cryptocurrency remains very popular in Russia. However, opposition from the government is strange considering how entangled they themselves are in the world of cryptocurrency.

Last year, it was revealed by a large Bitcoin mining field owned by aides of President Putin. The Russian State has also sought to create a financial center on the border between Russia and China, specifically for cryptocurrency trading.

So, it seems that the Russian state is more than willing to exploit cryptocurrency for its own purposes but wants to prevent its people from doing that. The good news is that now they have recognized that they cannot ban cryptocurrency in this country - but this tacit admission still puts the industry at serious risk there. However, this is good news for those who fear Bitcoin might be blocked. These fears can now be rested.

Who is Satoshi Nakamoto? Introduction to the Mysterious Founder of Bitcoin


The true identity of the creators of Bitcoin is one of the biggest mysteries in the modern world. Over the years many theories have emerged about who Satoshi Nakamoto really is, including time travelers, space aliens, artificially rogue intelligence or fronts for groups such as the NSA, CIA and Yakuza. This article will only present facts that are known about him and candidates who are more likely to be suspected by people who may be difficult to understand figures.

Who is the Mysterious Founder of Bitcoin?


The name Satoshi Nakamoto is an alias used by the person or entity that created Bitcoin to hide their true identity. He claims to be Japanese, born on April 5, 1975 and lives in Japan but people doubt this because of his native English skills and working hours preferences that are more consistent with the US time zone than Asia. Satoshi is a Japanese boy's name which means "one with wise ancestors" and he is considered a boy.

Nakamoto was the first to solve the problem of double spending on decentralized digital currencies, creating a new asset, the world had never seen before: Bitcoin. In October 2008, Satoshi published the original whitepaper, explaining the blueprint for "Peer-to-Peer Electronic Money System." In January 2009 he released version 0.1 of the source code and launched cryptocurrency by mining the genesis block. The founder continued to work on the software project for about one and a half years before breaking away from active development.

No one knows why Satoshi Nakamoto really decided to disappear without ever revealing himself or even cashing in billions of dollars from the coins originally printed. This has provided fertile ground for speculation, educated conjecture and direct conspiracy theories. Researchers have examined several data points left by the mysterious figure, trying to analyze vocabulary, how to write, and other clues to find some clues about their true identity.

Many Facts Appoint Dorian Nakamoto to Become Satoshi


In March 2014, a Newsweek columnist named Leah McGrath Goodman published a story called "The Face Behind Bitcoin." He claimed the inventor of Bitcoin was a retired physicist named Dorian Nakamoto. When Goodman arrived at the Dorian home in California, he said he was "no longer involved in it" and he "could not discuss it." The comments encouraged Goodman and the Newsweek cohort to assume he was talking about the creation of Bitcoin, so they published a description of Dorian's life. The following is the fifth installment of the news.Bitcoin.com series "lots of facts", with a comprehensive view of the evidence attached to Dorian Nakamoto and the mysterious creator of Bitcoin.


Dorian Nakamoto: ‘I am no longer involved in that and I cannot discuss it’


Six years ago, Leah McGrath Goodman of Newsweek published a presentation about the inventor of Bitcoin and his report claimed it was California citizen Dorian Nakamoto. Over the past 11 years, there have been a number of self-proclaimed candidates, as well as those accused of being Satoshi. Most of the usual suspects have some ties to the cypherpunk movement, but the suspect Goodman is not involved in the scene. Goodman spent two months investigating his story and one of his biggest selling points was the fact that Dorian's birth name was "Satoshi Nakamoto."

Instead of being a member of the cypherpunk movement, at that time Dorian was a 64-year-old Japanese-American, retired physicist and highly educated engineer. Dorian's life and work skills make Goodman and others believe that he has what it takes to create cryptocurrencies and release them into a nameless world. Because Dorian works for several companies and the U.S. military, some of the projects he works on are considered classified information. The veil of secrecy made Goodman once again believe that Dorian was part of Bitcoin's initial creation.

McGrath went to California after studying Dorian's life for two months and visiting his home located in the foothills of San Gabriel Los Angeles. He gets two police officers from Temple City to escort him and they ask if Dorian is in trouble. "I don't think he's in trouble," Goodman responded to the officer. "I want to ask him about Bitcoin - This person is Satoshi Nakamoto," he added. When Goodman arrested Dorian leaving his home, he confronted him with two police officers as witnesses and questioned him about his involvement in creating Bitcoin. Goodman said that Dorian's response was "cautious but revealing." Newsweek's columnist emphasized that Dorian "secretly acknowledged [ed] his role in the Bitcoin project" but refused to answer questions directly.

Dorian also made a video with Bitcoin evangelist Andreas Antonopoulos telling his story and he thanked the Bitcoin community for all the donations he received. BTC Address: 1Dorian4RoXcnBv9hnQ4Y2C1an6NJ4UrjX has received more than 102 BTC ($ 1 million USD at today's exchange rate) and the wallet is now empty. This is in sharp contrast to the more than 1 million BTC in Satoshi Nakamoto's wallet that has not been used for more than a decade.

New York’s Crypto Firms Will Provide Plans To Deal Covid 19 Outbreak


Matthew Homer of the New York State Department of Financial Services asked firms related to virtual currency to establish proper contingency plans for Covid 19.  In the letter, all the major things have been included that are must for preparations. There should be proper protection strategies for the employees. Accurate functioning should be there to reduce cyber risk. The plans need to be submitted within the next 30 days by all the firms.

Covid 19 outbreak could lead to cyber attacks


It has been highlighted in the letter that hackers might try to launch some cyber-attacks due to the outbreak. All the firms are directed to take ample security measures in order to prevent such attacks. There is a need to keep an eye on “illicit deals” and all the “withdrawals”.

Effective Communication plan


The regulator has said that firms need to develop proper communication plans. A forum needs to be established to communicate with the public including the customers and the counterparties.  All the important or urgent news and information should  be conveyed through this communication plan.

How firms might be affected by Covid 19


It has also been mentioned by the regulator that how the outbreak could affect the organisations.  There might be a decline in revenues, changes in the interest rate, decreased value of different investments and assets and a lot more. There is a need for an accurate plan to evaluate and observe the complete financial risk that might be there due to COVID-19.

By the time the letter was issued, there were already many circumstances that were leading towards emergency in New YorkAndrew Cuomo, the governor of New York has imposed restrictions on mass gatherings throughout the city. Simultaneously, a state of emergency has been declared by the mayor of the city, Bill de Blasio. In recent press conferences, he has also warned that the outbreak is not for a short period of time as it might be easily a crisis for six months or even more than that.

Bitcoin.Com Releases The Fastest Wallet Application Ever, With Internal Support for Bitcoin Cash-Powered Tokens


Bitcoin.com has developed its fastest wallet application with an improved design and a new focus on user experience. The Bitcoin.com wallet also now offers full support for SLP tokens, opening up a whole new world of digital assets to millions of users worldwide.

Lightning Fast Crypto Wallet Application

The new Bitcoin.com Wallet application has been launched for iOS and Android mobile users, making millions of the fastest clients ever. Among the new updates included in the mobile application that focus on speed is Instant Payments, a feature that completes bitcoin cash payments in less than one second, making it faster than traditional payment methods and other existing wallets. It provides an unlimited payment experience through the application, allowing users to complete transactions instantly at online and physical retailers who accept bitcoin money.

To use this new feature, you only need to set the expenditure threshold in the application before making a transaction and then the BCH payment can be completed instantly after the recipient's QR code has been scanned. Increased speed will result in more customers choosing BCH as their preferred payment option.


In addition to speed, this new wallet application has new and improved functions including letting users manage BCH and BTC in one secure integrated platform, as well as allowing them to buy BCH and BTC using credit cards. The application also focuses on personal customization, letting users change their accounts to their liking with new options. The developer has even introduced a private note mechanism, which allows users to add data to individual transactions.

On the privacy and security side, fingerprint identification and face recognition are also now available to ensure that only the owner can access the account. And adjustable transaction speed settings have been introduced, which can be used to delay payment confirmation. The application also features a Discover section - a new map interface that allows users to find the nearest merchant that accepts bitcoin payments, ensuring you can always find a place to spend BCH and encourage more businesses to adopt cryptocurrency.

Source: news.bitcoin.com

Police Forces in Belgium, France, and Israel Stop Scam Promising 35% Return of Crypto Investment


Police forces in Belgium, France, and Israel are reported to have stopped international fraud that promised a high return of up to 35% on crypto investments. Large private French companies and French local authorities are said to be among the 85 victims of this network. In total, 10 suspects related to this case have been arrested.

International Investment Fraud € 6 Million

Belgian Police Judiciaire Fédérale and Israeli Police have dropped a large network suspected of being involved in money laundering and binary investment scam, Europol announced. An unnamed person who has been convinced of carbon tax scam is suspected to be the mastermind behind the fraud.

Investigations into this network will begin in 2018, Europol said. In early 2019, four suspects were arrested in France. And at the end of 2019, five other suspects were arrested in Israel with the support of an international task force formed by European agents.

The group is suspected of establishing an online platform that promises high returns on investment in cryptocurrency as well as gold and diamonds. Victims are promised between 5 and 35% return on investment, and group members pretend to successfully manage their accounts for them in the beginning and then encourage them to invest more money.

A French private company and French local authority are said to be among 85 network victims. The scam was believed by investigators to be responsible for cheating at least € 6 million. Investigators also found invoices worth several million euros, which his group members had not yet taken. More than € 1 million has been confiscated by the authorities of the network account.

"Criminal groups are calling, offering huge profits on investments in bitcoin up to 35%," explained the European Union's Criminal Justice Cooperation Agency, Eurojust. "To gain their trust, victims initially get a small profit from this investment, thus encouraging them to invest further. The victim was then deceived because of the next payment. This was transferred to a fake company, which had been established for this purpose by OCG [Organized Criminal Group]. Profits are then quickly transferred through bank accounts in the other EU Member States to bank accounts in various Asian and Turkish countries. "

Source: news.bitcoin.com

Bankers accused of generating € 30M in bonuses from German fraud, tax lawyers come out with a guarantee of € 4M


Former bank employees have received millions of euros in bonuses in illegal trade schemes that also involve tax lawyers, prosecutors said in Frankfurt this week. This case is part of various investigations conducted in Germany, the country hardest hit in the famous tax fraud scandal known as Cum-ex Files.

Frankfurt Fraud Costs Germany € 389 Million

The six bankers got 29.5 million euros (nearly $ 33 million) in bonuses from the alleged fraud, German prosecutors said on Monday. The shocking figures, mentioned in the indictments filed earlier this month against bankers and lawyers, were made public in an announcement by the Frankfurt Prosecutor's Office.

The prosecutor did not disclose the entity that employed the defendant but according to sources quoted in the report, these people worked for Maple Bank. The Frankfurt-based financial institution collapsed in 2016 as a result of its involvement in the cum-ex trade conducted between 2006 and 2009 and cost € 389 million in lost taxes (more than $ 421 million).

Two bankers have been detained since their detention in December 2019 after an investigation conducted by German authorities. The tax lawyer, Ulf Johannemann, who is a former partner at the Freshfields law firm, was arrested the previous month. He has been released on bail of 4 million euros, the news agency detailed.

The case in Frankfurt, the financial capital of the Eurozone, is just one of a series of investigations in the Federal Republic against large-scale tax fraud. Participants in the fraud generated some tax revenue from ghost dividends from most German companies. Officials insist that the scheme requires intensive collaboration between large financial institutions, investors and legal experts to achieve its goals.