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I’m Not Satoshi — I Don’t Have That Much Money, Says...

Popular speculative fiction author Neal Stephenson says suggestions he could be Satoshi Nakamoto are “flattering” but unfounded. Popular speculative fiction author Neal Stephenson says suggestions he could be Satoshi Nakamoto are “flattering” but unfounded. Cryptonomicon or bustStephenson made his remarks during an interview on the Conversations with Tyler podcast on July 17 in response to a half-jocular suggestion first proposed in Reason magazine article this spring. The novelist told Tyler Cameron that when he had read the article, he understood that the journalist was “largely just goofing,” — yet added: “I hope nobody takes it seriously.” He explained: “It’s flattering that anyone imagines I’ve got the mathematical know-how needed to make something like blockchain [...] it requires a very high degree of cryptographic knowledge and coding skill that is beyond my abilities, certainly. And I definitely do not have the lifestyle of a person who has that much money.” The Reason art..

Ocasio-Cortez Criticizes Corporate-Controlled Money in House’s Libra Hearing

Congresswoman Alexandria Ocasio-Cortez highlighted the idea of scrip in today’s Libra hearing, remarking that it is destabilizing. New York Congresswoman Alexandria Ocasio-Cortez addressed the control of Facebook’s Libra cryptocurrency in today’s United States House Committee on Financial Services hearing. As per a recording of the event, provided by C-Span on July 17, Ocasio-Cortez addressed Calibra wallet CEO David Marcus, asking, “[Facebook] wants to establish a currency and act through its wallet as — at minimum — a payment processor. Why should these activities be consolidated under one corporation?” Regarding the membership of the Libra Association, Ocasio-Cortez asked, “Were they [the members] democratically elected?” After Marcus answered that it was not, but was governed by membership standards, Ocasio-Cortez summed up Libra as “a currency controlled by an undemocratically-selected coalition of largely massive corporations.” From the issue of corporate control, the represent..

Money Managers are Paying Big Bucks to Interpret Your Bitcoin Tweets

Algorithms that can decode social media market sentiment are making waves in the institutional crypto landscape. Algorithms that can decode market sentiment are making waves in the institutional crypto landscape, a July 17 report from Reuters claims. An Arms Race for AlgorithmsWith the resounding return of Bitcoin’s (BTC) volatility amid an ever-hotter crypto market, hedge funds and asset managers are increasingly turning to software developers to help them interpret and harness sentiment signals to their advantage. Bin Ren — CEO of Alan Howard-owned Elwood Asset Management — told Reuters that the soaring interest in developing algorithms capable of identifying price clues from the tumultuous social media landscape has become akin to “an arms race for money managers.” While A.I. and other software-driven sentiment analysis has long been an accepted tool in traditional financial markets, Reuters argues that crypto’s nativity to the internet makes the asset class potentially an ideal f..

IMF: Network Effects Could Spark Blaze of Digital Money Adoption

The International Monetary Fund has argued that network effects could spark the blaze for the mass adoption of new digital monies. The International Monetary Fund (IMF) has argued that network effects could spark the blaze for the mass adoption of new digital monies. In a fresh report published on July 15, the IMF aims to create a conceptual framework for categorizing new digital monies such as Facebook’s Libra and stablecoins as well to think through the implications of their emergence for central bank policy. In its analysis of e-monies — including but not limited to blockchain-based assets — the IMF identifies six factors that could drive their rapid growth for payments: convenience, ubiquity, complementarity, low transaction costs, trust and network effects. The report states: “The first five reasons may be the spark that lights the fire of e-money; the sixth is the wind that could spread the blaze. The power of network effects to spread the adoption of new services should not be ..

Trade Wars And Easy Money Could Propel New Highs In The...

Bitcoin News Update- The prices of major cryptocurrencies are likely to skyrocket. This possibility could be triggered by easy money and trade wars transforming the digital currencies into the “safe heaven.” Previously, the US treasuries and gold were the popular secure stores for wealth. Asset investors use them to store their wealth during negative events such as trade wars. Recently, gold is losing its shine as a safe haven. This drawback resulted from the high carry cost and a strong dollar. Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Prediction 2019 – Uncertainty Surrounds the US Treasury Though the US Treasuries still serves as a safe haven, the US-China trade war may affect them. There is a possibility that the market which is at the risk of a China sell-off may crash. China holds over one trillion dollars of the market and may use it against the US in the ongoing face-off between the two countries. Considering the market and exchange risks, the major cryptocu..

Spanish Police: Bitcoin ATMs a Blind Spot for Money Laundering Laws

Spanish law enforcement pointed out that Bitcoin ATMs show a gap in European Union’s anti-money laundering regulation. Spanish law enforcement pointed out that Bitcoin (BTC) automated teller machines (ATMs) show a gap in European Union’s Anti-Money Laundering (AML) regulations, Bloomberg reports on July 11. Per the report, Spanish police uncovered a local gang that used Bitcoin ATMs to transfer more than 9 million euros ($10 million) for drug traffickers in Colombia and other countries. Bloomberg cites anonymous representatives of Guardia Civil (a type of Spanish law enforcement) alleging that the group hired two machines from trading platforms and installed them in an office in Madrid. The office in question masqueraded as a center for remittances and cryptocurrency trading. The group reportedly used the center to transfer money from bank accounts to trading platforms to top up the ATMs with digital assets. Cryptocurrencies obtained this way would allegedly then end up being sent to..

Buy Bitcoin? Trump Says US ‘Should Match’ China’s Money Printing Game

Donald Trump’s latest currency manipulation tweet bolsters the argument for crypto as a safe haven asset. United States President Donald Trump has proposed the U.S. should ‘MATCH’ Chinese and Euoropean currency manipulation, sparking a dip in the greenback’s value. The president shared his thoughts in a tweet published on July 3: “China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games - as they have for many years!” The renewed attack comes despite the fact that the Trump administration formally stopped short of accusing China of devaluing its currency to gain unfair trade advantages just two months ago. On crypto twitter and Reddit alike, commentators were quick to note that in light of this “race to the bottom” monetary policy, Trump’s tweet is just about tantamount to a “direct order [...] ..

Gab Seeks $10M to Decentralize and Use ‘Free Speech Money’ Bitcoin

Gab has made a bid to seal $10 million in a Series A crowdfunding round that will enable it to decentralize and integrate bitcoin. Social media platform Gab has made a bid to seal $10 million in a Series A crowdfunding round that will enable it decentralize its infrastructure and integrate bitcoin (BTC) and Lightning Network payments. Founded in 2016, Gab has risen to notoriety due to a perception that it serves as an “echo chamber” for “extremist,” alt- or far-right views as it welcomes users who have been banned from sites like Twitter and Facebook for their alleged violations of hate speech rules. More broadly, the site targets a user base of libertarian, nationalist, populist or conservative leanings — or anyone who dissents from the content filtration, anti-disinformation, and data harvesting measures enforced by mainstream platforms or “Big Tech.” Gab has long presented its support of crypto as one of the company’s three pillars — these being unapologetic maximalism in regard ..

XRP Will Become FATF Anti-Money-Laundering Laws Complaint With Ripple’s Latest Confirm...

Ripple News Today – One of the factors that have discouraged government and regulatory endorsement of cryptocurrencies is the that they are decentralised and private. This means that no central authority has power over blockchain technology. This is why some government agencies and anti-crypto public figures have said that cryptocurrencies are used only by criminals who want to evade regulatiory oversight. Members of the cryptocurrency community see decentralised technology as the road to freedom from the shackles of government agencies and corporations. Now, with Ripple’s new deal with Coinfirm, the concept of XRP’s decentralization is threatened. XRP News Today – Ripple News Today – XRP’s Decentralization Threatened By Ripple’s Latest Deal With Coinfirm Ripple recently announced a partnership with Coinfirm. With this partnership, Coinfirm will have to provide information about users that will determine if the said cryptocurrency was processed using a technology that was specifically..

XRP Will Become FATF Anti-Money-Laundering Laws Complaint With Ripple’s Latest Coinfirm...

Ripple News Today – One of the factors that have discouraged government and regulatory endorsement of cryptocurrencies is the that they are decentralised and private. This means that no central authority has power over blockchain technology. This is why some government agencies and anti-crypto public figures have said that cryptocurrencies are used only by criminals who want to evade regulatiory oversight. Members of the cryptocurrency community see decentralised technology as the road to freedom from the shackles of government agencies and corporations. Now, with Ripple’s new deal with Coinfirm, the concept of XRP’s decentralization is threatened. XRP News Today – Ripple News Today – XRP’s Decentralization Threatened By Ripple’s Latest Deal With Coinfirm Ripple recently announced a partnership with Coinfirm. With this partnership, Coinfirm will have to provide information about users that will determine if the said cryptocurrency was processed using a technology that was specifically..
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