Latest Bitcoin News:
Bitcoin Cash Vietnam-Based Fiat-to-Crypto Trading Support Added to Bvnex Exchange
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
Dear friends of LivesOne,
Last week, we briefly shared some news of LivesOne. Besides that, we also promoted the BSV apps. Recently, we will launch the exchange LVTC for other assets events.
Although BSV has been in existence for less than two years, its ecosystem grows rapidly, and a number of excellent applications have emerged. There are more than 300 projects on the BSV chain, at an average rate of 0.88 applications per day. Today I will introduce to you some excellent apps on BSV chain developed by domestic developers that LivesOne is currently contacting with.
SatoPlay is a casual gaming platform built on the Bitcoin SV blockchain. SatoPlay is an “instant-play“ mobile game platform.
Earn BSV by playing games, the higher the ranking, the more BSV. In-game items are available for purchase as gamers progress in the game, while further rewards are given based on daily ranking. The rewards come from the revenue that the items being used generate, creating an intra-platform incentive cycle that adds layers to games while presenting new challenges for players.
SatoPlay has launched 2 games at first, which are both in the casual genre. Please click "Enter Game" to experience it.
After game over, you can choose whether to save your score on-chain. To give you a little suggestion, before starting the game, look at the leaderboard first to see the highest score. If your score is better, try to save maybe you will earn more.
Utilizing the unique capabilities of BSV, players' scores can be uploaded to the BSV blockchain, where they are immutable and unchangeable.
Recently, SatoPlay has launched "Leap Day Birds", a title built by third-party developer Momo Game Studio – a significant step, demonstrating that SatoPlay has officially entered the "open platform" stage. More games are coming in the very near future.
NoteSV is the highest security Personal Privacy Information Manager powered by Bitcoin SV.
NoteSV page is concise and easy to use, all history records of addition, deletion and modification of data information are recorded.
Support information search and sorting.
The software costs a little Satoshi to use, and the $10 recharge is equivalent to writing more than 3,000 encrypted documents.
Cityonchain is also built-in the BSV chain. You can own your city with Cityonchain. The platform allows its users to become city owners.
Cityonchain initially launched the city trading system. In the system, you can buy a city and become the owner, you can set your own advertising space, and then obtain the benefits of related applications in the cities.
Cityonchain also created chat rooms. For example, in "New York", you can see the weather of NewYork and see the ads set by the city owner. You need to pay 1 cent for sending each message. It takes 10 cents to like the information, but 7 cents out of 10 cents will be returned to the person who was praised, 2 cents will be given to the city owner, and 1 cent is charged by the platform. The city owner can modify the chat name of the chat room. This piece can make each chat room have its own unique topic.
Cityonchain has created a classified information platform, like 58 cities on a chain. It includes a lot of information such as real estate information, second-hand housing transactions or second-hand product transactions, or recruitment information, local service information, etc.
At the beginning of our cooperation plan, we will open some functions to support these apps on the LivesOne platform, like Quick Payment function. We will combine these applications to do more activities to community members to promote the development of the two ecosystems.
Symbiosism Economy Foundation
June 3, 2020
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Move Options. By Trading Move Options, you trade the Volatility of an underlying asset such as Bitcoin & Ethereum. When you're trading Bitcoin Move Option, you make profit based on the Volatility of Bitcoin.
Still confused? Don't worry. Let's understand Move Options.
Move Options are options that allow you to trade based on the movement of price of a certain cryptocurrency such as Bitcoin or Ethereum by risking only a small amount. The movement can be on either directions.
If you're a trader, the first thing you need to figure out is your bias - Bullish/Bearish. Then you move on to figure out your entry, stop-loss and target. Move Options remove bias out of equation and let's you make money as long as $BTC is moving in any direction.
Here, you need to decide if the premium you're paying is worth it.
What does it mean?
Let's say BTC is trading at $9000 from long time and now you feel that it will take big move, you're just not sure in which direction it will go. But you're confident that it will take big move. And you expect that market will stay volatile for some time.
In this case you can buy BTC Move Options.
When you buy MOVE Options and the underlying asset takes big move, you make money. For example, you buy BTC Move Options at $9000 with $100 premium and after that BTC surges to $9500, you've made profit of $400.
And what would happen if the price drops to $8500?
You still make $400 Profit. That's the magic of Move Contracts. You're Trading VOLATILITY not actual price. Sounds interesting right?
Now where can I trade Move Options?
Currently there are only two Exchanges that supports MOVE Options on their Platform, first is Delta and second is FTX. Both are very popular Exchanges but most of the times I use Delta cuz it supports ETH Move Options too and FTX doesn't. I sometimes use FTX too but very rarely.
I'm sharing here the guide to Move Options if anyone is interested to read Move Options
The following post by whycantichooseausern is being replicated because the post has been openly greylisted(for 3.1 hours).
(It was approved by the mods at: 2020-06-03T03:24:52.000Z)
The original post can be found(in censored form) at this link:
np.reddit.com/r/ CryptoCurrency/comments/gvfwdt
The original post's content was as follows:
Move Options. By Trading Move Options, you trade the Volatility of an underlying asset such as Bitcoin & Ethereum. When you're trading Bitcoin Move Option, you make profit based on the Volatility of Bitcoin.
Still confused? Don't worry. Let's understand Move Options.
Move Options are options that allow you to trade based on the movement of price of a certain cryptocurrency such as Bitcoin or Ethereum by risking only a small amount. The movement can be on either directions.
If you're a trader, the first thing you need to figure out is your bias - Bullish/Bearish. Then you move on to figure out your entry, stop-loss and target. Move Options remove bias out of equation and let's you make money as long as $BTC is moving in any direction.
Here, you need to decide if the premium you're paying is worth it.
What does it mean?
Let's say BTC is trading at $9000 from long time and now you feel that it will take big move, you're just not sure in which direction it will go. But you're confident that it will take big move. And you expect that market will stay volatile for some time.
In this case you can buy BTC Move Options.
When you buy MOVE Options and the underlying asset takes big move, you make money. For example, you buy BTC Move Options at $9000 with $100 premium and after that BTC surges to $9500, you've made profit of $400.
And what would happen if the price drops to $8500?
You still make $400 Profit. That's the magic of Move Contracts. You're Trading VOLATILITY not actual price. Sounds interesting right?
Now where can I trade Move Options?
Currently there are only two Exchanges that supports MOVE Options on their Platform, first is Delta and second is FTX. Both are very popular Exchanges but most of the times I use Delta cuz it supports ETH Move Options too and FTX doesn't. I sometimes use FTX too but very rarely.
I'm sharing here the guide to Move Options if anyone is interested to read Move Options
Latest Bitcoin News:
Blow To Bitcoin As Coinbase Crashes In Sudden Meltdown
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
Latest Bitcoin News:
Iranian Lawmaker Says Bitcoin Should Be Central Banks Turf
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
The Downtime Came Just Moments After Bitcoin Went Over The $10,000 Psychological Barrier
The crypto industry kept its breath on whether Bitcoin would jump over the major resistance level of $10,000, hoping that the largest cryptocurrency to date would gather enough momentum to breach over the barrier. Bitcoin received the much-awaited bullish impulse and spiked, but the created fear-of-missing-out (FOMO) buy-in from traders increased trading pressure on exchanges. The pressure resulted in the largest crypto exchange in the United States shutting down due to “increased latency”.
Coinbase’s services experienced a temporary shutdown just an hour after Bitcoin breached the $10,000 mark. Coinbase reported the issue at 16:14 PDT and took the team at the exchange around 30 minutes to specify the exact reason for the problem. Coinbase’s services were suspended for little under one hour, as the exchange reported the “incident has been resolved” at 16:58 PDT on June 1.
However, the Coinbase team did not provide any additional information about the nature of the exchange shutdown.
This isn’t the first time Coinbase is experiencing technical issues, as the exchange’s log report of similar connectivity issues on May 28, when the exchange was offline again for almost an hour. Also, Coinbase had problems with its 3DS payment system, which resulted in slowed withdrawals. The latest Coinbase postmortem report dates back from April 29.
During the April blackout, Coinbase reported that the main API that powers both Coinbase.com and its mobile applications has crashed, resulting in users unable to connect to its UI. The reason, according to the report, was an increase in primary database connections. The problem seemed to repeat itself, as the timeframes of operations shutdowns are almost an exact copy of the events of May 28 and June 1.
Meanwhile, data from Downdetector shows 91 reports for connection problems with Coinbase. Interestingly, the data aggregator pointed out two secondary waves of outage reports, and a normalization period.
Despite Coinbase having major outage issues, Bitcoin’s price remained relatively stable and above $10,000. After the initial push to $10,428, the largest cryptocurrency consolidated at around $10,116.14, as of press time.
Latest Bitcoin News:
79% of Bitcoin supply now in profit
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
The last month in the world of Mousecoin has been HUGE! There have been many changes, the addition of new awesome ways to earn MIC3 including our Faucets page and the Phoneum Games. We have also seen the launch of our Community Membership, which entitles each registered user to receive up to 200,000 MIC3 per month. We hope you are all keeping safe and are happy to provide you with our Mousecoin Network May 2020 Report.
FINALLY, after months of negotiation and with the help of Phoneum, Mousecoin has partnered with Phoneum to be included in two of the most popular Phoneum crypto games currently available.
We have added a new Games page, whiche features all the information and link for the games, with more to come.
Here is the run down:
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Crypto Treasures is a game, where players complete various quests, trivia and mini games to unlock Gold (in-game currency), Treasure Chests, Items, Collectibles, and various Crypto currencies, including the featured Mousecoin (MIC3).
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Visit a new type of planet, one that allows you to earn real cryptocurrencies while playing a beautiful and futuristic game. The main objective is to extract the valuable resources of the planet: Crystals. There is a special machine designed specifically to dig up the Crystals automatically and deliver them to you. All you have to do is activate the Digger and after 4 hours, it will have the resources ready to be claimed.
At the beginning of last month we began establishing our Community Membership which offers all registered Mousecoin Members a share of the rewards earned from the Community Fund just for being a member and following Mousecoin on all of our social media.
As we come to the end of the first month we are currently in the process of checking all registrations and working out payments. We have also updated the profile page to include a Member News tab, Verified Notifications for each Social Media and a Monthly Payment History section. We are currently working on verifying all accounts registered before 1/6/2020, and should have all of these processed in the next few days, with all payment going out before the end of the week.
Our Community is important to us, it is the backbone of the Mousecoin Network. Every follow, like, interaction, comment and re-post of our content members of the Mousecoin Community do all helps us to grow awareness of Mousecoin, growing and strengthening our community. To show our appreciation for your loyalty we are rewarding every Mousecoin Member with a regular monthly payment of up to 200,000 MIC3 just for joining and remaining a member of our social media(s). To become a member all you need to do is complete the registration form below, making sure to become and stay a member on our social media(s) and start EARNING!!!
Each of our social media accounts (listed below) that you follow entitles you to a portion of the potential 200,000 MIC3 you can earn each month. If you only follow on Twitter, you will only get 25,000 MIC3 per month, follow on 2 socials and get 50,000 MIC3, etc.
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TELEGRAM
Become and stay a member of:
https://t.me/Mousecoin_MIC3
Get 25,000 MIC3 Per/Month
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TELEGRAM ANNOUNCEMENTS
Become and stay a member of:
https://t.me/MousecoinOfficial
Get 25,000 MIC3 Per/Month
📷
DISCORD
Become and stay a member of:
https://discord.gg/yGTmuG6
Get 25,000 MIC3 Per/Month
📷
TWITTER
Become and stay a member of:
https://twitter.com/MIC3_Official
Get 25,000 MIC3 Per/Month
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FACEBOOK
Like and Follow:
https://www.facebook.com/MousecoinOfficial/
Get 25,000 MIC3 Per/Month
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REDDIT
Become and stay a member of:
https://www.reddit.com/user/Micmouse
Get 25,000 MIC3 Per/Month
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MEDIUM
Become and stay a member of:
https://medium.com/@mousecoin
Get 25,000 MIC3 Per/Month
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INSTAGRAM
Become and stay a member of:
https://www.instagram.com/mousecoin/
Get 25,000 MIC3 Per/Month
PLEASE NOTE: You must register before the 1st of each month in order to qualify for the previous months payment. All payments will be processed in the first week of the following month, once the accounts have been verified. You can check the process of you social account verification’s, as well as your monthly payment status on your account page. You must remain a member of the social media to receive the reward.
For anyone that isn’t already a member, you can find all of the information on our Community Member Registration Page
https://mousecoin.network/members/register/
Just a reminder for the community and also for any new members, we have added a Wallet Setup Guides page, which takes any first time user of Mousecoin step-by-step through the process of installing their Mousecoin wallet and getting it online. The guide uses the latest blockchain snapshot found on the Wallet Downloads Page in the example explanation meaning that all new members of the Mousecoin community will be able to get their wallets online faster as the sync time should be minimal. We will be updating the blockchain snapshot at least once every month to ensure that people have access to the most up to date blockchain info. The latest blockchain snapshot was performed on the 1st June 2020.
The wallet version is currenty V1.0.0.0, with future releases of the Mousecoin wallet coming soon
If you are new to crypto currency or just after a bit of guidance setting up the Mousecoin wallet, check out our Wallet Setup Guides
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Windows
📷Wallet & Blockchain Snapshot Download (UPDATED 01-06-2020)
In the last month we asked the community if they would be interested in being a part of a Community Staking Pool. After investigations into this finding security flaws in most platforms, as well as the lack of interest from members of the community we have decided to not go ahead with the Community Staking Pool. While we understand that there are members of the Mousecoin Community that are unable to stake themselves for whatever reason, and that there are a number of staking platforms that offer pool staking for MIC3 to help these people stake, we will not officially be supporting any staking platforms.
We ask all Community members using these or thinking about using these to keep in mind that any MIC3 hosted on these platforms is not in their wallets, and therefore not controlled by them. Do proper investigations into any platform that you use for this as there is always the possibility of loss. We encourage all members of the Mousecoin Community to stake from their own wallet (where possible) as this helps us to secure the network. If you need help setting up your wallet, go to our Wallet Setup Guides page for step-by-step guides on setting up your Mousecoin wallet.
We have updated the Mousecoin (MIC3) Faucets Page:
To make things clearer and we will be adding more faucets soon!
Last month we saw the edition of the USDT/MIC3 pair to nanu exchange. In our efforts to increase exposure of Mousecoin, we are still attempting to list on both ATAIX and Unnamed.Exhchange.
ATAIX
We have risen to 18th position in the voting list on ATAIX, but we still need your votes. Remember you can vote every 24 hours for this listing, and you can share in 125,000,000 MIC3
📷
Unnamed.Exhchange
The exchange listing for Unnamed.Exhchange is 0.05 BTC.
For anyone unfamiliar with the exchange there are two ways that you can donate to the listing:
1. If you are already a member of, or wish to be a member of Unnamed.Exhchange (and why wouldn’t you), you can put funds towards our listing by tipping us through the trollbox (Mousecoins). If you wish to be a member of Unnamed.Exhchange, you can register here: https://www.unnamed.exchange/Login/Register
2. You can also donate to the listing fee through the following addresses:
BTC – bc1qmaqzhfqcw0urva0rtgfz5qvq4rw7kdnp6j7754
LTC – ltc1qc775eeftdde2jrevnyukrd2w9853jy5gmtv6rn
DOGE – DEnBpriaFnKiNeBv6Q7MVxMg5hLv5urQFg
UTIP – AUTyu2JhGAaCkM3KAmeBopto2bNBchNJfE
If you would like to donate in another crypto available on Unnamed.Exhchange, we have opened up the chat on the Discord channel HERE to assist with this. Please request the address and we will provide it for you.
ANY AND ALL DONATIONS ARE WELCOME!!
This is a good exchange and getting a listing her should help lift the profile of MIC3.
We will be reporting balances to the discord channel https://discord.gg/cYuA8FA
📷
In the last month the Community Fund has undergone a huge amount of change. We have completely moved all of our remaining balances away from 4Stake, with the MIC3 going to the Community Fund MIC3 account and the remaining crypto’s towards out listing on Unnamed.Exhchange. The Community Fund page on the website has also been updated to reflect all of the changes.
It is an exciting time for the Community Fund as we have now reached a balance that will sustain itself. This is why we have introduced the Community Member payment, and are able to sustain the faucets we have on https://erex.io/freecoin/ and in the Phoneum Games. There is still more to come!
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📷📷📷📷📷📷📷
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GENERAL:
Wallets – https://mousecoin.network/mousecoin-wallets/
Explorer – https://mousecoin.network/explorer/
Github – https://github.com/trapier21/mic3-master
About Staking – https://mousecoin.network/mousecoin-wallets/staking-mousecoin/
NEWS/UPDATES:
BitcoinTalk – https://bitcointalk.org/index.php?topic=5081656.0
Discord – https://discord.gg/yGTmuG6
Telegram Mousecoin Official News – https://t.me/MousecoinOfficial
Twitter – https://twitter.com/CoinMic3
Medium – https://medium.com/@mousecoin
COMMUNITY FUND:
Telegram – https://t.me/MIC3CommunityFund
Facebook – https://www.facebook.com/MousecoinCommunityFund/
SUPPORT:
Discord – https://discord.gg/bD4zKCC
Mousecoin English – https://t.me/Mousecoin\_ENG
FACEBOOK:
Mousecoin English – https://www.facebook.com/MousecoinOfficial/
Mousecoin Portuguese – https://www.facebook.com/Mousecoin-Mic3-Portuguese-100360761416673
TELEGRAM:
Mousecoin English – https://t.me/Mousecoin\_ENG
Mousecoin Portuguese – https://t.me/MIC3Portuguese
Mousecoin Russian – https://t.me/MIC3Russian
Mousecoin Korean – https://t.me/MIC3Korean
Mousecoin Spanish – https://t.me/MIC3Spanish
Mousecoin Australia – https://t.me/MIC3\_Australia
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Binance support number 1844-918-0581 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Binance support number 1844-918-0581's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Binance support number 1844-918-0581 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Binance support number 1844-918-0581's headquarters?
This seemingly simple question is actually more complex. Until February, Binance support number 1844-918-0581 was considered to be based in Malta. That changed when the island European nation announced that, no, Binance support number 1844-918-0581 is not under its jurisdiction. Since then Binance support number 1844-918-0581 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. Binance support number 1844-918-0581 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
"Wherever I sit, is going to be the Binance support number 1844-918-0581 office. Wherever I need somebody, is going to be the Binance support number 1844-918-0581 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
Zhao said Binance support number 1844-918-0581 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here.
That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
Binance support number 1844-918-0581 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Binance support number 1844-918-0581 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Binance support number 1844-918-0581, announced that the exchange had frozen the funds. He also added that Binance support number 1844-918-0581 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
Binance support number 1844-918-0581 CEO Changpeng "CZ" Zhao really doesn't want to tell you where his firm's headquarters is located.
To kick off ConsenSys' Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Binance support number 1844-918-0581 brand.
Scheduled for 45 minutes, Zhao spent most of it explaining how libra and China's digital yuan were unlikely to be competitors to existing stablecoin providers; how Binance support number 1844-918-0581's smart chain wouldn't tread on Ethereum's toes – "that depends on the definition of competing," he said – and how Binance support number 1844-918-0581 had an incentive to keep its newly acquired CoinMarketCap independent from the exchange.
There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch.
Then it hit. Shin asked the one question Zhao really didn't want to have to answer, but many want to know: Where is Binance support number 1844-918-0581's headquarters?
This seemingly simple question is actually more complex. Until February, Binance support number 1844-918-0581 was considered to be based in Malta. That changed when the island European nation announced that, no, Binance support number 1844-918-0581 is not under its jurisdiction. Since then Binance support number 1844-918-0581 has not said just where, exactly, it is now headquartered.
Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. "Well, I think what this is is the beauty of the blockchain, right, so you don't have to ... like where's the Bitcoin office, because Bitcoin doesn't have an office," he said.
The line trailed off, then inspiration hit. "What kind of horse is a car?" Zhao asked. Binance support number 1844-918-0581 has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesn't need registered bank accounts and postal addresses.
"Wherever I sit, is going to be the Binance support number 1844-918-0581 office. Wherever I need somebody, is going to be the Binance support number 1844-918-0581 office," he said.
Zhao may have been hoping the host would move onto something easier. But Shin wasn't finished: "But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that?"
Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. "It's not that we don't want to admit it, it's not that we want to obfuscate it or we want to kind of hide it. We're not hiding, we're in the open," he said.
Shin interjected: "What are you saying that you're already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because it's not the old way [having a headquarters], it's actually the current way ... I actually don't know what you are or what you're claiming to be."
Zhao said Binance support number 1844-918-0581 isn't a traditional company, more a large team of people "that works together for a common goal." He added: "To be honest, if we classified as a DAO, then there's going to be a lot of debate about why we're not a DAO. So I don't want to go there, either."
"I mean nobody would call you guys a DAO," Shin said, likely disappointed that this wasn't the interview where Zhao made his big reveal.
Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic.
"I'm in Asia," Zhao said. The blank white wall behind him didn't provide any clues about where in Asia he might be. Shin asked if he could say which country – after all, it's the Earth's largest continent.
"I prefer not to disclose that. I think that's my own privacy," he cut in, ending the interview.
It was a provocative way to start the biggest cryptocurrency and blockchain event of the year.
In the opening session of Consensus: Distributed this week, Lawrence Summers was asked by my co-host Naomi Brockwell about protecting people’s privacy once currencies go digital. His answer: “I think the problems we have now with money involve too much privacy.”
President Clinton’s former Treasury secretary, now President Emeritus at Harvard, referenced the 500-euro note, which bore the nickname “The Bin Laden,” to argue the un-traceability of cash empowers wealthy criminals to finance themselves. “Of all the important freedoms,” he continued, “the ability to possess, transfer and do business with multi-million dollar sums of money anonymously seems to me to be one of the least important.” Summers ended the segment by saying that “if I have provoked others, I will have served my purpose.”
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That he did. Among the more than 20,000 registered for the weeklong virtual experience was a large contingent of libertarian-minded folks who see state-backed monitoring of their money as an affront to their property rights.
But with due respect to a man who has had prodigious influence on international economic policymaking, it’s not wealthy bitcoiners for whom privacy matters. It matters for all humanity and, most importantly, for the poor.
Now, as the world grapples with how to collect and disseminate public health information in a way that both saves lives and preserves civil liberties, the principle of privacy deserves to be elevated in importance.
Just this week, the U.S. Senate voted to extend the 9/11-era Patriot Act and failed to pass a proposed amendment to prevent the Federal Bureau of Investigation from monitoring our online browsing without a warrant. Meanwhile, our heightened dependence on online social connections during COVID-19 isolation has further empowered a handful of internet platforms that are incorporating troves of our personal data into sophisticated predictive behavior models. This process of hidden control is happening right now, not in some future "Westworld"-like existence.
Digital currencies will only worsen this situation. If they are added to this comprehensive surveillance infrastructure, it could well spell the end of the civil liberties that underpin Western civilization.
Yes, freedom matters
Please don’t read this, Secretary Summers, as some privileged anti-taxation take or a self-interested what’s-mine-is-mine demand that “the government stay away from my money.”
Money is just the instrument here. What matters is whether our transactions, our exchanges of goods and services and the source of our economic and social value, should be monitored and manipulated by government and corporate owners of centralized databases. It’s why critics of China’s digital currency plans rightly worry about a “panopticon” and why, in the wake of the Cambridge Analytica scandal, there was an initial backlash against Facebook launching its libra currency.
Writers such as Shoshana Zuboff and Jared Lanier have passionately argued that our subservience to the hidden algorithms of what I like to call “GoogAzonBook” is diminishing our free will. Resisting that is important, not just to preserve the ideal of “the self” but also to protect the very functioning of society.
Markets, for one, are pointless without free will. In optimizing resource allocation, they presume autonomy among those who make up the market. Free will, which I’ll define as the ability to lawfully transact on my own terms without knowingly or unknowingly acting in someone else’s interests to my detriment, is a bedrock of market democracies. Without a sufficient right to privacy, it disintegrates – and in the digital age, that can happen very rapidly.
Also, as I’ve argued elsewhere, losing privacy undermines the fungibility of money. Each digital dollar should be substitutable for another. If our transactions carry a history and authorities can target specific notes or tokens for seizure because of their past involvement in illicit activity, then some dollars become less valuable than other dollars.
The excluded
But to fully comprehend the harm done by encroachments into financial privacy, look to the world’s poor.
An estimated 1.7 billion adults are denied a bank account because they can’t furnish the information that banks’ anti-money laundering (AML) officers need, either because their government’s identity infrastructure is untrusted or because of the danger to them of furnishing such information to kleptocratic regimes. Unable to let banks monitor them, they’re excluded from the global economy’s dominant payment and savings system – victims of a system that prioritizes surveillance over privacy.
Misplaced priorities also contribute to the “derisking” problem faced by Caribbean and Latin American countries, where investment inflows have slowed and financial costs have risen in the past decade. America’s gatekeeping correspondent banks, fearful of heavy fines like the one imposed on HSBC for its involvement in a money laundering scandal, have raised the bar on the kind of personal information that regional banks must obtain from their local clients.
And where’s the payoff? Despite this surveillance system, the U.N. Office on Drugs and Crime estimates that between $800 billion and $2 trillion, or 2%-5% of global gross domestic product, is laundered annually worldwide. The Panama Papers case shows how the rich and powerful easily use lawyers, shell companies, tax havens and transaction obfuscation to get around surveillance. The poor are just excluded from the system.
Caring about privacy
Solutions are coming that wouldn’t require abandoning law enforcement efforts. Self-sovereign identity models and zero-knowledge proofs, for example, grant control over data to the individuals who generate it, allowing them to provide sufficient proof of a clean record without revealing sensitive personal information. But such innovations aren’t getting nearly enough attention.
Few officials inside developed country regulatory agencies seem to acknowledge the cost of cutting off 1.7 billion poor from the financial system. Yet, their actions foster poverty and create fertile conditions for terrorism and drug-running, the very crimes they seek to contain. The reaction to evidence of persistent money laundering is nearly always to make bank secrecy laws even more demanding. Exhibit A: Europe’s new AML 5 directive.
To be sure, in the Consensus discussion that followed the Summers interview, it was pleasing to hear another former U.S. official take a more accommodative view of privacy. Former Commodities and Futures Trading Commission Chairman Christopher Giancarlo said that “getting the privacy balance right” is a “design imperative” for the digital dollar concept he is actively promoting.
But to hold both governments and corporations to account on that design, we need an aware, informed public that recognizes the risks of ceding their civil liberties to governments or to GoogAzonBook.
Let’s talk about this, people.
A missing asterisk
Control for all variables. At the end of the day, the dollar’s standing as the world’s reserve currency ultimately comes down to how much the rest of the world trusts the United States to continue its de facto leadership of the world economy. In the past, that assessment was based on how well the U.S. militarily or otherwise dealt with human- and state-led threats to international commerce such as Soviet expansionism or terrorism. But in the COVID-19 era only one thing matters: how well it is leading the fight against the pandemic.
So if you’ve already seen the charts below and you’re wondering what they’re doing in a newsletter about the battle for the future of money, that’s why. They were inspired by a staged White House lawn photo-op Tuesday, where President Trump was flanked by a huge banner that dealt quite literally with a question of American leadership. It read, “America Leads the World in Testing.” That’s a claim that’s technically correct, but one that surely demands a big red asterisk. When you’re the third-largest country by population – not to mention the richest – having the highest number of tests is not itself much of an achievement. The claim demands a per capita adjustment. Here’s how things look, first in absolute terms, then adjusted for tests per million inhabitants.
Binance support number 1844-918-0581 has frozen funds linked to Upbit’s prior $50 million data breach after the hackers tried to liquidate a part of the gains. In a recent tweet, Whale Alert warned Binance support number 1844-918-0581 that a transaction of 137 ETH (about $28,000) had moved from an address linked to the Upbit hacker group to its wallets.
Less than an hour after the transaction was flagged, Changpeng Zhao, the CEO of Binance support number 1844-918-0581, announced that the exchange had frozen the funds. He also added that Binance support number 1844-918-0581 is getting in touch with Upbit to investigate the transaction. In November 2019, Upbit suffered an attack in which hackers stole 342,000 ETH, accounting for approximately $50 million. The hackers managed to take the funds by transferring the ETH from Upbit’s hot wallet to an anonymous crypto address.
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Instacoin is a website which allows you to purchase bitcoin with your Visa or MasterCard. It's been tried and tested by several beermoneyuk users already (including myself), and everyone seems to have had a positive experience. So thought I'd put the opportunity back out there for those still on the fence, or who might have missed it.
The site are currently running an offer where if you purchase £100 worth of bitcoin, you get £10 bitcoin extra immediately after! The whole process (including receiving your £100 back in your bank account) should take less than one hour from sign-up, as verification and the transaction itself are both very quick.
That's it! The £100 of BTC will reach your bitcoin wallet usually within 15 minutes or so, at which point you're free to sell it to GBP (I recommend Coinbase Pro for low fees) and withdraw to your bank account.
The £10 bonus you receive in the form of a code in your email after the £100 of BTC is sent. Click the email link, enter the code, provide your wallet address again and you'll receive your £10 of BTC profit :)
Only a £1.25 fee on the BTC purchase, so a quick way to make a tidy profit. Especially if you're already set up with a bitcoin wallet. Feel free to share your own ref links in the comments, and please ask if you have any questions.
