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Friday, October 6, 2023
🐕 Celebrating Kabosu's 18th Birthday and the Remarkable Journey of Dogecoin
Greetings, fellow Shibes! 🚀🌕
The Dogecoin community is on a mission to spread joy across the globe, and this time, they're doing it in Japan with a heartwarming tribute to the legendary Shiba Inu dog, Kabosu. 🐶
Remember that iconic Doge internet meme? Well, it's time to turn that meme into reality as the Dogecoin community is funding the creation of a bronze statue in Japan that will immortalize Kabosu forever.
🌟 A Monument of Love and Memes 🌟
Last year, the Dogecoin Foundation announced the plan to create this incredible statue, and the community quickly rallied together to raise $42,069 in just 72 hours. However, with the ups and downs of the crypto market, their plans faced a temporary setback. But, as true Shibes always do, they persevered!
Now, the statue is ready to shine as it gets unveiled on November 2nd, which coincides with Kabosu's 18th birthday. The statue will stand proudly in Sakura Furusato Square, a place where Kabosu and her owner frequently enjoyed walks.
💎 More Than Just a Meme: PleasrDAO's Mission 💎
PleasrDAO, a collective of NFT enthusiasts known for acquiring high-priced NFTs, is at the forefront of this heartwarming project. Their group, "Own the Doge," not only brings joy to the community but also donates to charities worldwide.
Their vision doesn't stop at Japan - they dream of placing a Kabosu statue on the moon one day! 🚀
🌐 A Hub for All Doge and Meme Lovers 🌐
PleasrDAO's tridog shared, "Our goal is to become THE Doge gathering place online for all of the Doge and meme community." They're planning interactive events where NFT holders can enjoy special privileges.
Plus, there's a documentary in the works celebrating Kabosu's life and the rise of Doge as a meme. It's going to be one pawsitively fantastic journey!
🚀 The Doge Legacy in the Crypto World 🚀
Dogecoin, born in 2013, paved the way for a wave of popular cryptocurrencies like Shiba Inu (SHIB) and Floki Inu (FLOKI). The one and only Elon Musk, CEO of Tesla and SpaceX, has also embraced Dogecoin as his favorite crypto, championing it for its transactional superiority over Bitcoin. His tweets have even impacted DOGE's price!
Today, Dogecoin stands proudly as the tenth largest cryptocurrency by market cap and is the second most recognized crypto worldwide, right after Bitcoin. Despite its fame, its co-founders, Billy Markus and Jackson Palmer, remain critical of the crypto space at large.
🎉 Join the Celebration! 🎉
The Dogecoin community invites everyone to join in the celebration of Kabosu's legacy and the remarkable journey of Dogecoin. Together, we'll continue to spread love, laughter, and positivity in the world of crypto.
Mark your calendars for November 2nd, and let's make history together with Quickex! 🐕🗾
To the moon and beyond, Shibes! 🚀🌕
Don't expect a bull run at least until 2024 Q4, Here is why.
We know that Uptober is one of the months that usually crypto has good performance in general, but so far we just saw 2 small BTC pumps that lasted a couple of hours. Don't need to be anxious because is not bull run time yet.
The next crypto bull run is probably not going to start soon, at least we need to wait a year from my point of view, my guess is 2024 Q4 or 2025 Q1. Here are a couple of reasons why:
- The economy is in a bit of a mess right now, with high inflation and rising interest rates. This makes people less likely to invest in assets crypto included, we can see the trading volume hit the lowest in 4 years last month
- Governments are still trying to figure out how to regulate crypto. Until they have a clear plan, big investors are going to be hesitant to get involved, this is why BTC ETF on spot is very important if we want to see a "pre-bull run" in the coming months
- People are still a bit scared of crypto after the recent market crash. It may take a while for them to trust it again.
- Bitcoin's halving event isn't happening until 2024. Most of people believe that this event is the main catalyst for bull runs, so until then, prices may stay low.
Meanwhile, remember to don't invest more money than you can afford to lose, and for now, until the prices keep low and crabbing, DCA is the key to accumulating more and more, remember that for each $100 you invest now, you might see $200-300 profits during the bull run.
What are your thoughts? When do you think the next bull will start?
Thursday, October 5, 2023
What Are Privacy Coins?
#CybSec
Bitcoin was introduced as an alternative monetary system to government-controlled national currencies.
Unfortunately, due to its pseudonymous nature, some crypto advocates believe it lacks the necessary privacy features to protect its users sufficiently, especially in authoritarian states that either prohibit or suppress the use of cryptocurrencies.
In fact, Bitcoin offers less privacy than fiat currencies in some aspects since it is a public blockchain, which means anyone who has enough resources to do chain analysis could potentially uncover the real identity behind a public address.
Somewhat controversial privacy coins like Monero and Dash rose to prominence to address this issue by giving users the ability to send and receive value anonymously. Many more privacy coins have since sprouted in their path.
Today, we have so many privacy-focused coins in the crypto market that it’s becoming hard to choose which ones would suit our needs. It must be said that privacy coins are increasingly in the crosshairs of global anti-money laundering (AML) regulators due to their ability to facilitate money laundering (ML) and terrorism funding (TF) and have been delisted by many exchanges as a result.
This article will review the top privacy coins and talk about their distinguishing features.
What Are Privacy Coins?
Privacy coins are a class of cryptocurrencies that power private and anonymous blockchain transactions by obscuring their origin and destination. Some techniques used include hiding a user’s real wallet balance and address, and mixing multiple transactions with each other to elude chain analysis.
In the spirit of transparency, Bitcoin and other non-privacy blockchains allow anyone to view public addresses and transactions in their network, which makes it relatively simple to track someone's deposits and withdrawals.
However, privacy coins handle two different aspects; anonymity and untraceability. Anonymity hides the identity behind a transaction, while untraceability makes it virtually impossible for third-parties to follow the trail of transactions using services such as blockchain analysis.
Strategies Used By Privacy Coins.
To effectively preserve anonymity and untraceability, privacy coins employ a variety of different strategies, the most popular of which include stealth addresses, ring signatures, CoinJoin and zk-SNARKs.
Stealth addresses require a sender to generate a new address for every transaction sent to avoid being linked to a receiver. Monero (XMR), one of the top privacy coins, uses a version of stealth address called the dual-key stealth address protocol (DKSAP).
CoinJoin is known as a coin mixer that merges transactions from various individuals into a single transaction and then disburses them to their respective users using new addresses.
Zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) allow cryptocurrency holders to prove a transaction's validity without divulging critical identifying information such as the parties involved and the account balances.
Are Private Coins Legal?
Yes, and no. The legality of privacy coins depends on individual jurisdictions. For example, in South Korea, the government prohibits trading privacy coins on the country's crypto exchanges to curb money laundering.
However, jurisdictions that haven't banned private coins haven't endorsed them either, which means their operation leverages a grey area in a country's laws.
For instance, the United States government has taken a different route, seeking to develop tools to remove the cloak on transactions conducted on private networks.
Private transactions do not necessarily promote malicious activities such as money laundering and terrorism financing. Some users simply value their financial privacy and are exercising their fundamental rights, yet the number of government agencies clamping down on untraceable digital currencies is steadily rising. Interestingly, many well-known individuals like Naval Ravikant, Elon Musk and Edward Snowden continue to advocate for privacy-focused apps.
It is important to watch what actions and guidance global regulators like the Financial Action Task Force (FATF) bring to privacy coins. While privacy coins are not banned as yet, they are making things difficult for both countries and exchanges that are subject to information-sharing requirements due to regulations like the FATF Travel Rule.
Why Are Private Coins Delisted On Some Exchanges?
The delisting of privacy coins is tied to a country’s views or AML/CFT obligations and how it regulates private transactions in response. While privacy-focused cryptocurrency transactions can elude regulators, financial watchdogs have dominion over centralized exchanges.
When a regulator bans a particular cryptocurrency within its borders, an exchange needs to halt trading as soon as possible or risk being shut down. In such cases, some crypto marketplaces may choose to halt trading, while others would completely pull off the coin from their platform.
Privacy coins are facing increased scrutiny from regulators in the last couple of months, which have compelled some exchanges to delist them to avoid regulatory complications.
In light of this event, top privacy coins like Dash (DASH), Monero (XMR) and Zcash (ZEC) have been delisted by multiple leading trading platforms including Bittrex, CoinCheck, Coinbase UK and ShapeShift (while conversely, Gemini actually added Zcash in September 2020).
The reason behind the delistings was the FATF Standards’ Recommendation 16 Travel Rule requirement, which places tremendous pressure on country regulators to ensure their exchanges, or virtual asset service providers (VASPs), share user-identifying information with each other when transmitting funds. A regulator forces compliance by requiring their VASPs to meet this obligation when applying for an operating license or registration.
Despite all these measures, some reports indicate that still prefers Bitcoin, despite its lack of privacy features.
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