Bitcoin pulse, guides and news: 07/08/20

Wednesday, July 8, 2020

All about Bitcoin forks. A quick guide for beginners in crypto. Which methods do you trust the most?

https://changelly.com/blog/guide-to-bitcoin-forks/

$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks (current BTC/USD price is $9,394.44)

Latest Bitcoin News:

$1.4M in Bitcoin Transactions: New High for Argentina as Confidence in the Peso Tanks

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.

[Altcoin Discussion] Thursday, July 09, 2020

Thread topics include, but are not limited to:

Discussion related to recent events
Technical analysis, trading ideas & strategies
General questions about altcoins

Thread guidelines:

Be excellent to each other.
All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
No discussion about specific ICOs. Established coins only.

If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

Other ways to interact:

Get an invite to live chat on our Slack group and check out the #altcoins channel
Daily Discussion for bitcoin only: Daily Discussion
Prior Altcoin Discussion: Altcoin Discussion

[H] BTC 90-95% [W] CashApp

Due to recent events, I will only be able to accept CashApp. I am sorry. Comment before PM or you will be ignored. I do not read chats. I hold the right to not trade with anyone on here and to ask for proof of payment. Payment must be made via balance.

New rule from me as well, I will need you to send me a photo of your ID and a selfie. Selfie must be holding a piece of paper that says "I UNDERSTAND I AM BUYING BITCOINS FROM KEVSMITH_SWEU” Do not waist my time if you can not provide this. Clear photo of ID, separate preferred.

!! ( TRANSFER MUST COME FROM YOUR NAME ON THE ID ) !!!

!! NO BRAND NEW ACCOUNTS ACCEPTED. MUST BE A FEW WEEKS OLD. !!

Exchange	Value	Rate
BTC	$625+	95%
BTC	$550-624.99	94%
BTC	$400-549.99	93%
BTC	$250-399.99	92%
BTC	$100-249.99	91%
BTC	$10-99.99	90%

[Daily Discussion] Thursday, July 09, 2020

Thread topics include, but are not limited to:

General discussion related to the day's events
Technical analysis, trading ideas & strategies
Quick questions that do not warrant a separate post

Thread guidelines:

Be excellent to each other.
Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:

Get an invite to live chat on our Slack group
Set your flair to trade pretend money in the Flair Game
Weekly threads: Newbie Mondays and Fundamentals Fridays
Altcoins Discussion: Altcoin Discussion

Gold makes new high

For Trading JULY 9th

Gold Makes New Recovery High

JPM Upgrades NKLA

Today’s market got off to a slightly higher start and spent the day between up and down 100 until the last hour when we rallied up to close +$177.10 (.68%), NASDAQ +148.61 (1.44%), S&P 500 +24.62 (.78%), the Russell +11.41 (.81%) and the DJ Transports +43.82 (.47%). Market internals were 1.4:1 in both NYSE and NASDAQ while volume was 3:2 up on the NYSE. DJIA was 22:7 up and RTX was unchanged. Volume was average. The continued weakness in the U.S. Dollar has had little effect on the market, but the commodities side has had a solid bid under it. The gold and silver are acting the way you would expect, making new recovery highs, but we are also seeing strength in any international market that is quoted in dollars. I expect this to continue and these markets to move higher. Deficits and continuing zero rates are a powerful influence.

We sold the balance of the remaining NEM 7/17 $60’s bought @ 1.55 and added to last Friday @ $1.30 for an average of $1.47 triggered a 100% Up Rule sale at $2.94, and yesterday’s sale was @ $3.20, and today we took $4.30 for the balance. We also own a position in SLV 8/21 17 calls @ $ .74, and they closed $1.04, and we also added a spread using the NEM 8/65 / 70 calls at a $1.30 debit which closed $1.47.

Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s highly informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!

Tonight’s closing comment video https://youtu.be/jzTwzoH_a54 SECTORS: The FAANG names all recovered with AAPL making yet another new high after yesterday’s selloff. In the news we had Allstate taking over National General for cash and ALL finished $88.22 +4.43 and NGHC finishing $33.84 +13.43 (65%). Nikola (NKLA) was upgraded by JPM and after falling back from $70 to $40 finished the day $54.03 +13.80 (34.3%). TWTR was higher on news that they were considering a new-tier Subscription service level that sent the stock higher by 2.42 (7.3%). After the close, BBBY reported a loss and decline in sales even with a 100% increase in e-commerce. The stock closed $10.41 +.17 but fell to $8.99 and finished extended hours at $9.59 - .82 (9%). Last, Altimmune (ALT) disclosed the initial dosing of the first patient in Phase 1 trials of their single dose nasal formulation of “NasoShield” a vaccine for Anthrax. The stock, up from $3.00 just last month, hit a high of $20.65 before closing $17.03 +5.84 (52%).

FOOD SUPPLY CHAIN was LOWER with TSN -.20, CAG -.18, MDLZ -.72, KHC -.05, CALM -.78, JJSF +1.20, SAFM -.73, HRL -.24, SJM -1.34, PPC -.45, PPC -.45, KR -1.14, and PBJ -.11 (.36%).

BIOPHARMA was HIGHER with BIIB +10.75, ABBV +.15, REGN +3.87, ISRG +5.62, GILD -.65, MYL +.08, TEVA +.19, VRTX -3.06, BHC -.88, INCY -.38, ICPT -1.22, LABU +2.93, IBB $140.89 +.83 (.59%).

CANNABIS: was LOWER with TLRY -.09, CGC -.09, ACB -.29, CRON -.01, GWPH -.62, CURLF -.06, KERN +.11, MJ $13.04 -.04 (.31%).

DEFENSE: was MIXED with LMT -1.39, GD -.93, TXT +.22, NOC -2.47, BWXT -.61, TDY +5.24, RTX +.28 and ITA $160.65 +.33 (.21%).

RETAIL: was HIGHER with M +.84, JWN +1.98, KSS +1.98, DDS +1.01, WMT -1.38, TGT -.07, RL +1.57, UAA +.16, LULU +3.41, TPR +.45, CPRI +.40, and XRT $44.32 +.54 (1.23%).

FAANG and Big Cap: were HIGHER with GOOGL +15.69, AMZN +95.88, AAPL +9.51, FB +3.55, NFLX +12.06, NVDA +16.33, TSLA -28.83, BABA +21.56, BIDU +3.15, CMG +6.90, CAT +1.30, BA +1.89, DIS +3.32, and XLK $107.72 +1.73 (1.63%).

FINANCIALS were HIGHER with GS +2.94, JPM +.99, BAC +.13, MS +1.51, C +.67, PNC +.43, AIG +.75, TRV +.70, AXP -.09, V +1.21 and XLF $23.17 +.24 (1.05%).

OIL, $40.90 +.28. Oil continues to trade in short ranges without much movement, but today’s close is the highest in the current consolidation. I mentioned in last night’s charts with comments section in the Weekly Strategies letter, prices are trying to work higher towards $45.00. We needed a close over the previous high close of $40.83 and today we finally did. The stocks were higher with XLE $36.23 -.03 (.08%).

GOLD, $1820.70 +10.70. After making a new recovery high of $1,829 we finished the day at another new closing high. I expect this move to continue to work higher to new highs. As I mentioned earlier in this note, the U. S. dollar continues to be supportive to higher prices of world commodities quoted in US$. We bought back the 3rd and final lot of NEM @ $58.86. And, we also closed out the final portion of our July 60 calls @ $4.30. We still own a spread in the August expiration long 65 / 70 spread at a $1.30 debit.

BITCOIN: closed $9,510 +220. Since last week we have closed between 9200 – 9285 every day with narrow ranges and today was a good start to move higher. A break over 10,000 still sends us higher. We added 350 shares of GBTC @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $10.32 + .56 today.

Tomorrow is another day.

CAM

Bitcoin Is Not a Privacy Coin Says Crypto Evangelist Andreas Antonopoulos (current BTC/USD price is $9,410.59)

Latest Bitcoin News:

Bitcoin Is Not a Privacy Coin Says Crypto Evangelist Andreas Antonopoulos

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.

Why Pompliano's criticism of Ethereum's issuance policy and financial system is absurd.

I have just watched an interview with Anthony Pompliano where he argues that Ethereum's issuance policy is strictly bad and that it will be abused. He also advocates for centralized automated financial systems as opposed to Ethereum's, but he does not really explain why... so I decided to share a little reflection on both subjects.

The claim that Ether is not a good store of value because of its dynamic inflationary rate is completely disregarding the trend and roadmap of Ethereum. First of all, lets establish the fact that a dynamic inflationary rate is NOT necessarily bad since it allows for a faster reduction than what was originally planned. This has been demonstrated since the current total Ether issued is LESS than what was initially estimated at this point. Ethereum roadmap is preparing for an even greater reduction in issuance that is targeting an inflationary rate LOWER than Bitcoin's - this should happen in the next couple of years as PoW phases out. A sustainable ZERO inflationary rate will be achieved through the elimination of PoS, EIP 1559 and layer zero scalability via sharding. This is something (long term sustainability) that Bitcoin does not have since it is expected that the price of Bitcoin must double in between every halvening event in order to maintain hash rates. The operational cost of securing Bitcoin is unsustainable... for now there is only wishful thinking that somehow layer scaling will be able to sustain the network exclusively via fees, but there is no tangible plan to achieve it. This dynamic is a ticking time bomb and Bitcoin has a serious long term risk of self imploding due to the periodic reduction of incentive for miners to secure the network. Not to mention that the understanding of what and how Bitcoin should function is adopting the OLD paradigm of money and financial systems.
Is it really necessary to make the argument that a financial system that is decentralized, censorship resistant and permission-less is more desirable and valuable than centralized/externalized systems? The new paradigm of money calls for built-in integration with a financial system that provides the same awesome properties that made Bitcoin so powerful: censorship resistant, decentralized, permission-less, trust-less. The ability to transparently issue and transact digital assets is integral to the new global economic paradigm. Externalizing a monetary token such as Bitcoin exponentially increases risk as it introduces an additional network and potential third parties - this dramatically reduces the golden qualities of a self-contained cryptographic network.

Check out my referral links

Click on the hyperlinks below to take advantage of the various sign-up bonuses! (I get a small bonus too for telling you about them). Feel free to PM me with any questions/concerns.

Credit Cards

- IHG Rewards Club Premier Earn 80,000 Bonus Points after you spend $2,000 in the first three months their account is open, free anniversary night each year, and many other benefits

- Chase Freedom Earn $150 bonus with Chase Freedom. Has rotating bonus cashback categories every quarter.

- Southwest Rapid Rewards Card Earn 40,000 points after you spend $1,000 on purchases in the first 3 months, and other benefits.

- American Express Blue Every Day Cash $200 back after you spend $1,000 in the first three months 3% cashback at supermarkets, and more

Cash Back Engines

- Swagbucks Get a bonus $10 after you spend $25. Lots of opportunities to make money

- Dosh Get a bonus $5 after you link a card, has lots of physical places like Dunkin Donuts, BurgerKing

Coupons/Groupon (Get deals on restaurants, events, etc)

- Groupon

- Raise Get $5 off your first order on a variety of discounted gift cards (you can use the cashback engines above on this site!!)

Rideshare

- Lyft Get a bonus $5 off your first ride

- Uber Get a bonus $5 off your first ride

- Freebird Get rewards for using Uber/Lyft, install then these promo codes for Uber/Lyft credits, my referral code: "ffb28" - $10 off first two ride, "FREERIDE" - first ride free up to $25, "ATOMVIP" - $25 Uber Credit

Commission Free Stock Trading

- WeBull Get one free stock valued up to $1,000 for signing up

- M1 Finance Get $25 after funding account, commission free and auto-rebalance portfolio

- My M1 FinancePie Check out the M1 Finance Pie I use.

Networth/Accounts tracker

- Personal Capital Get $20 for linking qualified investment account (RobinHood above counts)

Mobile Payment Service

- CashApp Get $5 for signing up, discounts on certain things, buy/sell bitcoin, get virtual debit card, send/receive cash

Lodging

- Airbnb Get $55 off your first stay

eBook/AudioBooks

- Kobo Free 30 day audiobook trial

- Kobo Get $5 off your first eBook purchase

Genealogy

- 23andme Get atleast 10% off your genealogy adventure at 23andme.

A New Guerrilla Marketing Campaign Aims to Create Bitcoin Awareness (current BTC/USD price is $9,440.87)

Latest Bitcoin News:

A New Guerrilla Marketing Campaign Aims to Create Bitcoin Awareness

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.

DeFi Conference 2020 Delivers an All-Star Speaker Lineup

The DeFi Conference 2020 hosted by Bitcoin Events, is a feature-packed free event for anyone to attend and learn about the opportunities that decentralized finance offers to individuals and organizations alike.  Decentralized finance (more commonly known as ‘DeFi’) is growing rapidly, spawning investment and attention from many corners of the finance world. The world of […]

Gate.io exchange: Predict Halving Price of Bitcoin Diamond (BCD), Share 10,000 BCD | July 08, 2020 at 11:05AM

Bitcoin Diamond (BCD) is expected to halve on August 2nd-3rd, 2020. To embark on this exciting adventure together with our users, Gate.io is launching the “Predict Halving Price & Win Bonus” event. Join us in predicting the BCD halving price on Twitter and share a total of 10,000 BCD!

To learn more about the BCD countdown, an introduction to what BCD is, significant BCD crypto events and BCD holdings, please check the following webs:

Gate.io BCD countdown page: httpswww.gate.iohalvingBCD

Other tokens halving information：httpswww.gate.iohalving

Duration

Today — 8:00 AM GMT July 22nd, 2020

Rules

During the campaign, users can predict the price of the BCD halving on Twitter and mention @gate_io’s and @BitcoinDiamond_’s official account. Predicted prices will be compared with the first on-the-hour opening price of BCD on Gate.io after the Halving has taken place. The top 100 BCD-holding users with predicted prices closest to the actual price and random 50 users participating in the prediction, will share 10,000 BCD.

There are no limits as to the number of tweets you can post but they have to include the predicted BCD price, @gate_io & @BitcoinDiamond_ and hashtag # gateioBCDhalvingprediction

e.g. @user A @gate_io @BitcoinDiamond_ are holding a # gateioBCDhalvingprediction. I have a bold guess that the first on-the-hour opening price after the BCD halving will be USD xxxx. What do you think

If the tweets are posted successfully, Gate.io’s official twitter @gate_io will send a sheet of collecting UID to your account privately within 2 weekdays. Please be sure the private message feature has been turned on. If there is not any private message received after posting the Tweets, please PM @gate_io to acquire the sheet. The deadline of submitting the sheet will be 8:00 AM GMT July 23rd, 2020, so please fill in the sheet in a timely manner. Otherwise you won’t be eligible to win the prize.

Rewards

Diamond Prize

Users who have held 1,000 BCD or more for 14 days are able to participate in the Diamond Prize Prediction Campaign

Top 10 users with predicted prices closest to the actual price will be rewarded 200 BCD each.
Top 11–50 users with predicted prices closest to the actual price will be rewarded 100 BCD each.
Top 51–100 users with predicted prices closest to the actual price will be rewarded 50 BCD each.

Users can check their 14-day average BCD holdings. The 14-day average BCD holdings settled two hours after the end of the campaign will be taken into account. Hence, please do not move the BCD holdings during the two-hour settlement to ensure the qualification for the reward.

Lucky Draw (No BCD-holding Requirement)

We will select 50 participants randomly, each being rewarded with 30 BCD.

During the campaign, users who refer new users to register on Gate.io (the referees are required to complete at least one successful trade on Gate.io) will double their chances of winning. For example, Bob referred Jim to register on Gate.io and Jim had at least one successful trade on Gate.io. So Bob will be able to participate in the lottery shortlist twice. If he refers two new users, then he’ll triple his chances of winning and so forth. There is no limit to the number of referees.

*Note:

If users’ predicted prices are the same, they will be ranked according to the time they were tweeted (if user A and user B predict the same price and this price is ranked the tenth closest, but user B tweeted it earlier than user A, then user B will be the 10th winner and A will be the 11th winner).
The real price is the first on-the-hour opening price of BCD on Gate.io after The Halving (for example, if the BCD halving happens at 00:05 AM GMT on August 3rd, 2020, then the “real” price will be the opening price of BCD at 01:00 AM GMT, June 3rd, 2020 on Gate.io).
To assure the campaign runs in a fair environment, only the last predicted price before the deadline will be taken into account if the user gives different answers several times.
Users who have been rewarded with the Diamond Prize will not gain qualification for the Lucky Draw.
If the top 100 users with predicted prices closest to the actual price do not satisfy the requirement for winning the Diamond Prize, they are only eligible to win the Lucky Draw.
BCD rewards will be distributed to the winners 5 weekdays after the halving.

Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with 100% guaranteed and instant deposit-withdrawal services.

Get 30% of all referees’ trading fees in the affiliate program at https://www.gate.io/myaccount/myreferrals

Click to Sign up ：https://www.gate.io/m#/register

Download it now at: https://www.gate.io/mobileapp

Scan and download at:

Gate.io New Features:

Spot Trading on Gate.io (200+ tokens):https://www.gate.io/trade/BTC_USDT

Margin Trading on Gate.io (Long or Short):https://www.gate.io/margin_trade/BTC_USDT

Perpetual Contract Trading:https://www.gate.io/futures_trade/BTC_USD

Lending on Gate.io (secure and stable, high annual return):https://www.gate.io/margin/lend/USDT

C2C Trading on Gate.io:https://www.gate.io/c2c/usdt_cny

Download Gate.io APP:https://www.gate.io/mobileapp

Download Wallet.io (ALL in ONE):https://www.wallet.io/

Facebook: https://facebook.com/gateioglobal

Twitter: https://twitter.com/gate_io

Telegram：https://t.me/gate_io

Instagram：https://www.instagram.com/gateioglobal

Medium：https://medium.com/@gateio

📖Continue reading..

👉Register on Gate.io exchange

Binance Customer Care Number 𝐈-𝟖𝟒𝟒𝟗𝟎𝟕𝟎𝟓𝟖𝟑| Customer Service Phone Number

Binance Customer Care Number 𝐈-𝟖𝟒𝟒*𝟗𝟎𝟕*𝟎𝟓𝟖𝟑| Customer Service Phone Number

Binance support number 1844*907*0583 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*907*0583 brand. 1844*907*0583

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 1800-561-8025'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*907*0583had 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*907*0583 headquarters?

This seemingly simple question is actually more complex. Until February, Binance support number 1844*907*0583 was considered to be based in Malta. That changed when the island European nation announced that, no, Binance support number 1844*907*0583 is not under its jurisdiction. Since then Binance support number 1844*907*0583 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*907*0583 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*907*0583 office. Wherever I need somebody, is going to be the Binance support number 1844*907*0583 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*907*0583 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*907*0583 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*907*0583 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*907*0583 announced that the exchange had frozen the funds. He also added that Binance support number 1844*907*0583 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.

We (18449070583) Tech are remote Binance DESKTOP GOLD support service provider for Password recovery phone.Look Tech at your Technical for Repair , for customer phone number labeled as Customer Serial phone Number,to repair Serial No, technical. The number is printed on a label. You might need to open the ink cartridge access area or scanner .Binance DESKTOP GOLD login or for Step up Get Access to Our Private Company Of Tech, Any error recommend You call by Our Toll free. Tech are remote Binance DESKTOP GOLD support service provider for password recovery phone.Look Tech at your Technical for Repair , for customer phone number labeled as Customer Serial phone Number,to repair Serial No, technical.

You call by Our Toll free. Tech are remote Binance DESKTOP GOLD support service provider for password recovery phone.Look Tech at your Technical for Repair , for customer phone number labeled as Customer Serial phone Number,to repair Serial No, technical.

- By Browser Binance DESKTOP GOLD And Check If it is Not working Antivirus

- Optimized Technical Issues Performance And Increase the Productivity

- Government mandates for the usage of Antivirus Server in different Countires

- Lack of information on Antivirus they have issues On it

- Low Cost by phone number required for the execution Process

- Growing demands on Installation .We Support them.

- We Create Co-ordinate relation Among The customer and we.

- We Give more importance to the customer Problem for Resolution

Binance Customer Service Number 𝐈-𝟖𝟒𝟒𝟗𝟎𝟕𝟎𝟓𝟖𝟑| Customer Support Phone Number

Binance Customer Service Number 𝐈-𝟖𝟒𝟒*𝟗𝟎𝟕*𝟎𝟓𝟖𝟑| Customer Support Phone Number