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Crypto Price Today: Bitcoin holds $30,000
Bitcoin and other crypto tokens were trading with positive bias after a mildly encouraging inflation report. Ethereum posted decent gains after the unveiling of the Ethereum Shanghai upgrade. Many investors had been looking for both cryptos to react more strongly to Wednesday's events.To get more news about crypto token, you can visit wikifx.com official website.
Bitcoin was able to hold the $30,000-level as the largest crypto token was trading slightly higher in the early hours. Its largest peer, Ethereum, gained more than 2 per cent to reclaim the $1,900 mark. Altcoins outperform blue-chip crypto tokens.
In the last 24 hours, several cryptocurrencies experienced a slight increase in value. This can be attributed to mildly encouraging inflation data and the Ethereum Shanghai upgrade. Bitcoin traded above the $30,000 level, and its resistance is currently set at $30,500, said Edul Patel, Co-founder and CEO at Mudrex.
"This suggests that the market is currently bullish. However, BTC's support level is at $29,900. Meanwhile, Ethereum has begun a new phase of staking withdrawals. ETH has seen trading at the $1,900 level, with resistance at $1,943 and support at US$1,820," he said.Barring the US dollar-pegged stablecoin Tether and XRP, all other top crypto tokens were trading higher on Thursday. Solana rose more than 5 per cent, whereas Cardano and Avalanche advanced 4 per cent, each. Tron jumped 3 per cent, while Dogecoin was also among the top gainers.
The global cryptocurrency market cap was trading decently higher, around $1.23 trillion, rising more than a per cent in the last 24 hours. However, the total trading volumes gained more than 8 per cent to $46.06 billion.
The overall crypto market remained upbeat after inflation data showed signs of cooling down. BTC is holding strong above the $30,000 mark while Ethereum surged by over 2 per cent to hit $1,900, said Shivam Thakral, CEO of BuyUcoin.
"ETH outperformed BTC in the last 24 hours due to the euphoria around the latest update which will make ETH staking highly flexible. The unlocking of ETH will boost market liquidity which is expected to make the blockchain more secure and will have a positive impact on ETH prices in the long term," he said.
The much-awaited Shanghai upgrade and the US inflation numbers had a rub-on impact on Bitcoin and Ethereum prices. Fears of recession after the banking crisis in US FOMC minutes also pushed the prices higher.
In alignment with Glassnode’s prediction, we don’t see any selling pressure on ETH. Around half an hour after the Shanghai upgrade was activated, around 285 withdrawals had been processed for about 5,413 ETH, worth about $10 million, said Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch.
"In high spirits, investors and blockchain developers have already begun mapping the next steps, i.e., the Verge, Purge, and the Scourge. We can expect more moves to positively impact investor sentiment and boost market performance," he said.
In the last 24 hours, several cryptocurrencies experienced a slight increase in value. This can be attributed to mildly encouraging inflation data and the Ethereum Shanghai upgrade. Bitcoin traded above the $30,000 level, and its resistance is currently set at $30,500, said Edul Patel, Co-founder and CEO at Mudrex.
"This suggests that the market is currently bullish. However, BTC's support level is at $29,900. Meanwhile, Ethereum has begun a new phase of staking withdrawals. ETH has seen trading at the $1,900 level, with resistance at $1,943 and support at US$1,820," he said.Barring the US dollar-pegged stablecoin Tether and XRP, all other top crypto tokens were trading higher on Thursday. Solana rose more than 5 per cent, whereas Cardano and Avalanche advanced 4 per cent, each. Tron jumped 3 per cent, while Dogecoin was also among the top gainers.
The global cryptocurrency market cap was trading decently higher, around $1.23 trillion, rising more than a per cent in the last 24 hours. However, the total trading volumes gained more than 8 per cent to $46.06 billion.
The overall crypto market remained upbeat after inflation data showed signs of cooling down. BTC is holding strong above the $30,000 mark while Ethereum surged by over 2 per cent to hit $1,900, said Shivam Thakral, CEO of BuyUcoin.
"ETH outperformed BTC in the last 24 hours due to the euphoria around the latest update which will make ETH staking highly flexible. The unlocking of ETH will boost market liquidity which is expected to make the blockchain more secure and will have a positive impact on ETH prices in the long term," he said.
The much-awaited Shanghai upgrade and the US inflation numbers had a rub-on impact on Bitcoin and Ethereum prices. Fears of recession after the banking crisis in US FOMC minutes also pushed the prices higher.
In alignment with Glassnode’s prediction, we don’t see any selling pressure on ETH. Around half an hour after the Shanghai upgrade was activated, around 285 withdrawals had been processed for about 5,413 ETH, worth about $10 million, said Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch.
"In high spirits, investors and blockchain developers have already begun mapping the next steps, i.e., the Verge, Purge, and the Scourge. We can expect more moves to positively impact investor sentiment and boost market performance," he said.
Wikibits, the Blockchain Based Solutions Driven Wiki
Cryptocurrencies are mostly community-driven, and there is one platform which is taking a step further in the same direction by creating a blockchain solution. The NewsBTC team caught up with the founders of Wikibits to know more about what they do.To get more news about WikiBit, you can visit wikifx.com official website.
Wikibits: Wikibits is the first solution-driven Wiki that is powered by our own cryptocurrency, WIKI Tokens. At Wikibits, we are taking a radical approach to how solutions are generated. Unlike other wikis out there, we are more than just an information portal. Wikibits bridges the inference gap that users experience with traditional search methods by tabulating community responses as a supplement to existing knowledge bases to provide users with the best answers and convenient access to products and services. Our platform, as the go-to portal for solutions, products, and services, will give objective and community-vested responses, reducing information fatigue and saving time to enhance the quality of life for individuals.
Wikibits: There are primary objectives and secondary objectives. Primarily, we aim, first and foremost, to provide a product that will save people time and energy while simultaneously collecting and tabulating information in a way that will be useful to humans. We want to achieve an ecosystem where information can be turned into knowledge, and knowledge can be directly translated to the real world. Wikibits intends to bridge gaps in existing knowledge bases and at the same time, seamlessly interlink users, solutions, products, and businesses in an integrated platform.
Wikibits: We are taking a hybridized business model, with a for-profit segment and a non-profit foundation. To generate revenue, the for-profit segment will engage in smart advertisements and marketable product development. Smart advertisements will be displayed relevant to the question posed or the answers retrieved. The nonprofit organization will receive a portion of the revenue generated to be used for scholarships and to aid in the development of information and blockchain technologies.
Wikibits: Our Alpha Submission Portal is scheduled to go live on January 25th, where presale and ICO contributors can earn Wiki tokens by contributing their knowledge on sponsored articles. The main purpose of the Alpha portal is to allow the community to interact and engage with each other on key areas Wikibits should target first during the beta development phase.
Wikibits: Wikibits has a win-win infrastructure for individuals and businesses. Individuals save time searching for solutions and finding the relevant products and services. For businesses, we bring the right customers to their doorstep.
Wikibits: Our base rate is 8,000 Wiki Tokens per Ether. We have a hard cap of 250 million WIKI tokens available during presale and ICO which is equivalent to 26535 Ethers. The majority of the funds will be used for product development and aggressive marketing to bring awareness of Wikibits to the public.
Wikibits: Our team is comprised of dedicated individuals with decades of combined experience in Global Fortune 500 companies and government institutions such as the National Institutes of Health, Reserve Bank of India, HP, Boeing, BMW, and Qualcomm.
Wikibits: Following the crowdsale, the Alpha portal will still be available for submissions. Meanwhile, we will be extrapolating data from community responses and existing knowledge bases using Natural Language Processing and Machine Learning Algorithms, followed by the development of the beta platform and the simultaneous commencement of aggressive marketing. And of course, listing our token to be traded on various exchanges.
Wikibits: There are primary objectives and secondary objectives. Primarily, we aim, first and foremost, to provide a product that will save people time and energy while simultaneously collecting and tabulating information in a way that will be useful to humans. We want to achieve an ecosystem where information can be turned into knowledge, and knowledge can be directly translated to the real world. Wikibits intends to bridge gaps in existing knowledge bases and at the same time, seamlessly interlink users, solutions, products, and businesses in an integrated platform.
Wikibits: We are taking a hybridized business model, with a for-profit segment and a non-profit foundation. To generate revenue, the for-profit segment will engage in smart advertisements and marketable product development. Smart advertisements will be displayed relevant to the question posed or the answers retrieved. The nonprofit organization will receive a portion of the revenue generated to be used for scholarships and to aid in the development of information and blockchain technologies.
Wikibits: Our Alpha Submission Portal is scheduled to go live on January 25th, where presale and ICO contributors can earn Wiki tokens by contributing their knowledge on sponsored articles. The main purpose of the Alpha portal is to allow the community to interact and engage with each other on key areas Wikibits should target first during the beta development phase.
Wikibits: Wikibits has a win-win infrastructure for individuals and businesses. Individuals save time searching for solutions and finding the relevant products and services. For businesses, we bring the right customers to their doorstep.
Wikibits: Our base rate is 8,000 Wiki Tokens per Ether. We have a hard cap of 250 million WIKI tokens available during presale and ICO which is equivalent to 26535 Ethers. The majority of the funds will be used for product development and aggressive marketing to bring awareness of Wikibits to the public.
Wikibits: Our team is comprised of dedicated individuals with decades of combined experience in Global Fortune 500 companies and government institutions such as the National Institutes of Health, Reserve Bank of India, HP, Boeing, BMW, and Qualcomm.
Wikibits: Following the crowdsale, the Alpha portal will still be available for submissions. Meanwhile, we will be extrapolating data from community responses and existing knowledge bases using Natural Language Processing and Machine Learning Algorithms, followed by the development of the beta platform and the simultaneous commencement of aggressive marketing. And of course, listing our token to be traded on various exchanges.
US retail giant Walmart will allow customers to purchase Bitcoin (BTC) via ATM kiosk at over 200 of its locations, thanks to a pilot project with crypto ATM provider Coinstar.To get more news about ZIL, you can visit wikibit.com official website.
The firm has earlier expressed its interest in the burgeoning crypto space and looks to include digital currencies as part of its everyday operations. An August job listing even stated the company was seeking workers to help develop “the digital currency strategy and product roadmap” while identifying “crypto-related investment and partnerships.”
Buy Bitcoin with Coinstar
The test with Coinstar began earlier this month and includes 200 kiosks in Walmart stores. The pilot is part of a broader initiative by Coinstar, which has teamed up with a cryptocurrency cash exchange called Coinme to offer Bitcoin at more than 8,000 kiosks.
Buying Bitcoin is easy. Customers simply pay with fiat dollars at Coinstar machine and then get a voucher. They must also set up a Coinme account and pass a background check before the voucher can be redeemed. The machines charge a 4% fee for the Bitcoin option and a 7% cash exchange fee.
Some industry observers say the rollout will help speed up crypto adoption. “Bitcoin ATMs have been around for a while, including in many supermarkets,” said Sam Doctor, chief strategy officer and head of research at BitOoda, a regulated crypto brokerage.
“Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot,” he added.
Walmart is testing the service weeks after a high-profile hoax in which a fake press release said the retailer would start letting customers pay with Litecoin. That announcement was quickly found out as false, but it hasnt stopped Walmart from shying away from this pilot.
The firm has earlier expressed its interest in the burgeoning crypto space and looks to include digital currencies as part of its everyday operations. An August job listing even stated the company was seeking workers to help develop “the digital currency strategy and product roadmap” while identifying “crypto-related investment and partnerships.”
Buy Bitcoin with Coinstar
The test with Coinstar began earlier this month and includes 200 kiosks in Walmart stores. The pilot is part of a broader initiative by Coinstar, which has teamed up with a cryptocurrency cash exchange called Coinme to offer Bitcoin at more than 8,000 kiosks.
Buying Bitcoin is easy. Customers simply pay with fiat dollars at Coinstar machine and then get a voucher. They must also set up a Coinme account and pass a background check before the voucher can be redeemed. The machines charge a 4% fee for the Bitcoin option and a 7% cash exchange fee.
Some industry observers say the rollout will help speed up crypto adoption. “Bitcoin ATMs have been around for a while, including in many supermarkets,” said Sam Doctor, chief strategy officer and head of research at BitOoda, a regulated crypto brokerage.
“Walmart expands Bitcoin access to more people, though, and gives it further legitimacy among skeptics, should they roll it out beyond an initial pilot,” he added.
Walmart is testing the service weeks after a high-profile hoax in which a fake press release said the retailer would start letting customers pay with Litecoin. That announcement was quickly found out as false, but it hasnt stopped Walmart from shying away from this pilot.
The work of Ivan Illich — ronin of the Catholic Church, “errant pilgrim,” and subtle, surprising and far-ranging social theorist — is experiencing a renaissance among many who worry that technology poses corrosive threats to human culture and well-being. A trenchant and unique critic of the Catholic Church in which he came up, Illich went on to critique many modern institutions, whose failures he saw as reflective of the failures of the Church.To get more news about STORJ, you can visit wikibit.com official website.
Illich’s unique critiques of “industrial institutions” throw new light on our modern monetary system, and bitcoin’s place within it. In this essay, I’d like to introduce how Illich thought about institutions and TOOLS, apply that lens to our present-day monetary system, and finally, consider Bitcoin as an alternative.
Across a body of thematically linked work, Illich argued that our modern societies increasingly confuse large-scale and bureaucratic “institutions,” like those of “schooling” and “medicine,” with the goals they nominally arose to combat. In so doing, we commodify core aspects of our once-social being, and we cede individual and communal capacity to vast institutions with increasingly “radical monopolies” over the services they render and goals they claim to serve.
This consolidation into “industrial institutions” with “radical monopolies” over the services they offered disempowered both communities and individuals. This combined disempowerment and monopolization inevitably led to counterproductive institutions, which lost sight of, and began to undermine, their stated aims.
Schooling, the subject of Illich’s “Deschooling Society,” provides an example. Illich argued that “schooling” had come to be confused with “learning.” Learning was historically an individualized and active process, specific to each person’s needs and context — lifelong, communal, curiosity-driven and unconstrained. One learns naturally and without much explicit instruction: from one’s community, work, role models or autonomous engagement with the world.
This learning is inherently active, tailored, compelling and “vernacular,” or naturally absorbed: Think of language.
Schooling is fundamentally different. Once a component of broader learning, schooling supplanted other forms of learning. The global dominance of modern schooling — driven by well-meaning activists (and the Prussian army) and supported by government funding and the global export of an American “industrial” vision — replaced natural learning with institutional learning.
In this new model, Illich argued, time spent “in seat” at an institutionally accredited school — a metric of consumption of an institutional good — became the measure of “learning” achieved. This change elevated credentialism, and it made the open-ended, self-driven and practical model of learning vocationally impractical in competition with the institutional and consumerist one. Over time, this destroyed broader learning.
The new institutional schooling model was based on discrete units of imposed and uniform training consumed in an increasingly authoritarian setting. The very structure of this mode of education is antithetical to free thought, skepticism, risk-taking and creativity. Units of this product consumed predominantly reflect willingness and capacity to be “excellent sheep,” along with privileged institutional access.
Conformity to authority is central to the model and necessary for continued consumption. A public school teacher, Illich pointed out, has become a triplicate authority of moral, epistemic and civic judgment — a primary arbiter of one’s inherent and societal value, and key to the door of the modern economy. As Illich put it, “The distinctions between morality, legality, and personal worth are blurred and eventually eliminated. Each transgression is made to be felt as a multiple offense.”
As growing numbers of “students” and “teachers” are minted in this ecosystem of authority, knowledge itself becomes institutionalized and confused with increasingly gated “expertise.”
Institutionalization feeds on its own failure. As this process makes schooling prerequisite to social access, it also transforms schooling into the monomaniacal target of reform. Well-meaning reformers dive in to “SOLVE” educational gatekeeping, not by questioning educational gatekeeping or encouraging alternatives, but by attempting to shove more individuals through the gate. Simply infeasible levels of equality of “schooling” (not learning) are demanded for larger and larger numbers of people throughout the globe.
As institutional schooling metastasizes, it drives down quality (and equality) and exacerbates gatekeeping far faster than it improves relevant “learning.” Simultaneously, it absorbs a larger and larger share of society’s resources. It comes to strangle and replace — to radically monopolize — all other forms of learning. Along the way, this educational behemoth shapes cultures and economies in its image, replacing the custom, communal solutions which flourished with massive, restrictive, uniform and grossly unequal and nonfunctional bureaucracies.
Illich’s unique critiques of “industrial institutions” throw new light on our modern monetary system, and bitcoin’s place within it. In this essay, I’d like to introduce how Illich thought about institutions and TOOLS, apply that lens to our present-day monetary system, and finally, consider Bitcoin as an alternative.
Across a body of thematically linked work, Illich argued that our modern societies increasingly confuse large-scale and bureaucratic “institutions,” like those of “schooling” and “medicine,” with the goals they nominally arose to combat. In so doing, we commodify core aspects of our once-social being, and we cede individual and communal capacity to vast institutions with increasingly “radical monopolies” over the services they render and goals they claim to serve.
This consolidation into “industrial institutions” with “radical monopolies” over the services they offered disempowered both communities and individuals. This combined disempowerment and monopolization inevitably led to counterproductive institutions, which lost sight of, and began to undermine, their stated aims.
Schooling, the subject of Illich’s “Deschooling Society,” provides an example. Illich argued that “schooling” had come to be confused with “learning.” Learning was historically an individualized and active process, specific to each person’s needs and context — lifelong, communal, curiosity-driven and unconstrained. One learns naturally and without much explicit instruction: from one’s community, work, role models or autonomous engagement with the world.
This learning is inherently active, tailored, compelling and “vernacular,” or naturally absorbed: Think of language.
Schooling is fundamentally different. Once a component of broader learning, schooling supplanted other forms of learning. The global dominance of modern schooling — driven by well-meaning activists (and the Prussian army) and supported by government funding and the global export of an American “industrial” vision — replaced natural learning with institutional learning.
In this new model, Illich argued, time spent “in seat” at an institutionally accredited school — a metric of consumption of an institutional good — became the measure of “learning” achieved. This change elevated credentialism, and it made the open-ended, self-driven and practical model of learning vocationally impractical in competition with the institutional and consumerist one. Over time, this destroyed broader learning.
The new institutional schooling model was based on discrete units of imposed and uniform training consumed in an increasingly authoritarian setting. The very structure of this mode of education is antithetical to free thought, skepticism, risk-taking and creativity. Units of this product consumed predominantly reflect willingness and capacity to be “excellent sheep,” along with privileged institutional access.
Conformity to authority is central to the model and necessary for continued consumption. A public school teacher, Illich pointed out, has become a triplicate authority of moral, epistemic and civic judgment — a primary arbiter of one’s inherent and societal value, and key to the door of the modern economy. As Illich put it, “The distinctions between morality, legality, and personal worth are blurred and eventually eliminated. Each transgression is made to be felt as a multiple offense.”
As growing numbers of “students” and “teachers” are minted in this ecosystem of authority, knowledge itself becomes institutionalized and confused with increasingly gated “expertise.”
Institutionalization feeds on its own failure. As this process makes schooling prerequisite to social access, it also transforms schooling into the monomaniacal target of reform. Well-meaning reformers dive in to “SOLVE” educational gatekeeping, not by questioning educational gatekeeping or encouraging alternatives, but by attempting to shove more individuals through the gate. Simply infeasible levels of equality of “schooling” (not learning) are demanded for larger and larger numbers of people throughout the globe.
As institutional schooling metastasizes, it drives down quality (and equality) and exacerbates gatekeeping far faster than it improves relevant “learning.” Simultaneously, it absorbs a larger and larger share of society’s resources. It comes to strangle and replace — to radically monopolize — all other forms of learning. Along the way, this educational behemoth shapes cultures and economies in its image, replacing the custom, communal solutions which flourished with massive, restrictive, uniform and grossly unequal and nonfunctional bureaucracies.
Russian President Vladimir Putin is publicly showing more openness to crypto's role in the country's future, particularly in the international energy markets on which Russia's economy depends.To get more news about ENJ, you can visit wikibit.com official website.
In an interview with CNBC's Hadley Gamble for Russia's Energy Week, Putin addressed the possibility of eventually shifting oil contracts off of the dollar and onto other currencies, including crypto.
“Cryptocurrency, of course, can be a unit of account, but it's not stable. To transfer money from one place to another — even trade, moreover trade energy resources — in my opinion, it's still premature.”
Specifically regarding crypto in the oil trade, Putin reiterated: “It seems to me, it's still a little early to talk about.”
While it's not a glowing endorsement of cryptocurrencies or a promise of future action, it is a notable signal from the most powerful figure in Russia. Putin himself and the regime that he exercises broad control of have not been this specific about a serious use case for crypto in the past.
Russian law currently allows cryptocurrency trading, but since 2020 the nation has barred crypto's use as a means of payment, domestically. Internationally, however, Russia has long been interested in alternatives to the dollar. While Putin's comments are certainly not a green light for oil markets to shift to crypto, they are a relatively overt indication of interest in the prospect from the country's leader.
Russia depends on the export of oil and natural gas — markets that are denominated in USD. The onset of widespread sanctions following the 2014 annexation of Crimea has choked the Russian economy, with the ruble dropping more than half of its value against the dollar. The value of crude oil and natural gas exports have yet to recover to 2014 levels.
Putin also said during the interview that the U.S. is “making a big mistake by using the dollar in the capacity of a sanctions instrument,” subsequently referring to a recent decline in USD as a percentage of global reserves.
The timing of today's interview is significant, as the U.S. White House has convened 32 countries in a virtual discussion of ransomware. It's a summit to which Russia received no invitation. In a White House press briefing, one senior administration official said, “we did not invite the Russians to participate for a host of reasons, including various constraints.”
Key among these constraints is that the Biden administration has increasingly viewed Russia as a nexus of global cyberattacks and a nest of ransomware gangs. In September, the Treasury announced its first sanctions against a crypto exchange, a Moscow and St. Petersburg-based OTC desk called SUEX associated with extensive ransomware cashouts and laundering schemes.
In an interview with CNBC's Hadley Gamble for Russia's Energy Week, Putin addressed the possibility of eventually shifting oil contracts off of the dollar and onto other currencies, including crypto.
“Cryptocurrency, of course, can be a unit of account, but it's not stable. To transfer money from one place to another — even trade, moreover trade energy resources — in my opinion, it's still premature.”
Specifically regarding crypto in the oil trade, Putin reiterated: “It seems to me, it's still a little early to talk about.”
While it's not a glowing endorsement of cryptocurrencies or a promise of future action, it is a notable signal from the most powerful figure in Russia. Putin himself and the regime that he exercises broad control of have not been this specific about a serious use case for crypto in the past.
Russian law currently allows cryptocurrency trading, but since 2020 the nation has barred crypto's use as a means of payment, domestically. Internationally, however, Russia has long been interested in alternatives to the dollar. While Putin's comments are certainly not a green light for oil markets to shift to crypto, they are a relatively overt indication of interest in the prospect from the country's leader.
Russia depends on the export of oil and natural gas — markets that are denominated in USD. The onset of widespread sanctions following the 2014 annexation of Crimea has choked the Russian economy, with the ruble dropping more than half of its value against the dollar. The value of crude oil and natural gas exports have yet to recover to 2014 levels.
Putin also said during the interview that the U.S. is “making a big mistake by using the dollar in the capacity of a sanctions instrument,” subsequently referring to a recent decline in USD as a percentage of global reserves.
The timing of today's interview is significant, as the U.S. White House has convened 32 countries in a virtual discussion of ransomware. It's a summit to which Russia received no invitation. In a White House press briefing, one senior administration official said, “we did not invite the Russians to participate for a host of reasons, including various constraints.”
Key among these constraints is that the Biden administration has increasingly viewed Russia as a nexus of global cyberattacks and a nest of ransomware gangs. In September, the Treasury announced its first sanctions against a crypto exchange, a Moscow and St. Petersburg-based OTC desk called SUEX associated with extensive ransomware cashouts and laundering schemes.
Following JPMorgan CEO Jamie Dimon's recent comments that Bitcoin is worthless, two well known billionaires have leapt to its defense — although both of them say Ether has some even more desirable properties.To get more news about USDC, you can visit wikibit.com official website.
During an interview with CNBC's Squawk Box on Oct. 13, Barry Sternlicht, the co-founder of Starwood Capital Group said that gold was actually “worthless” and he is hodling Bitcoin (BTC) because every government in the “western hemisphere” is printing endless amounts of money.
Sternlicht is estimated to have a net worth of around $4.4 billion and is known for his investments in the real estate market via Starwood Capital Group. The investment firm was founded in 1991 and reportedly has around $95 billion worth of assets under management (AUM).
Sternlicht was asked for his take on Jamie Dimons reiterated skepticism over BTC being “worthless.”
“Gold is kind of worthless too, and so is silver, I mean they have some industrial uses but they are minor. The reason I own Bitcoin is because the U.S. government and every government in the western hemisphere is printing money now to the end of time,” he said.
Dallas Mavericks owner Mark Cuban, who has a net worth of $4.3B, echoed similar sentiments when he spoke to CNBC Make IT on Wednesday. Cuban said that BTC is “better than gold,” before going on to say that he thinks Ethereum has the “most upside” as an investment.
Despite favoring BTC over gold, Sternlicht also went on to qualify his support for Bitcoin with praise for Ethereum.
I've become very interested in blockchain technology as a whole, and the digital ledger which is going to change everything, were probably in inning one,” he added.
Not every billionaire is on board the crypto train however. Larry Fink the chairman of the world‘s largest asset manager BlackRock ($9.4 trillion AUM) stated that he’s “probably more on the Jamie Dimon camp.”
“I'm not a student of Bitcoin and where it's going to go so I can't tell you whether it's going to $80K or $0. But I do believe there is a huge role for a digitized currency,” he said.
During an interview with CNBC's Squawk Box on Oct. 13, Barry Sternlicht, the co-founder of Starwood Capital Group said that gold was actually “worthless” and he is hodling Bitcoin (BTC) because every government in the “western hemisphere” is printing endless amounts of money.
Sternlicht is estimated to have a net worth of around $4.4 billion and is known for his investments in the real estate market via Starwood Capital Group. The investment firm was founded in 1991 and reportedly has around $95 billion worth of assets under management (AUM).
Sternlicht was asked for his take on Jamie Dimons reiterated skepticism over BTC being “worthless.”
“Gold is kind of worthless too, and so is silver, I mean they have some industrial uses but they are minor. The reason I own Bitcoin is because the U.S. government and every government in the western hemisphere is printing money now to the end of time,” he said.
Dallas Mavericks owner Mark Cuban, who has a net worth of $4.3B, echoed similar sentiments when he spoke to CNBC Make IT on Wednesday. Cuban said that BTC is “better than gold,” before going on to say that he thinks Ethereum has the “most upside” as an investment.
Despite favoring BTC over gold, Sternlicht also went on to qualify his support for Bitcoin with praise for Ethereum.
I've become very interested in blockchain technology as a whole, and the digital ledger which is going to change everything, were probably in inning one,” he added.
Not every billionaire is on board the crypto train however. Larry Fink the chairman of the world‘s largest asset manager BlackRock ($9.4 trillion AUM) stated that he’s “probably more on the Jamie Dimon camp.”
“I'm not a student of Bitcoin and where it's going to go so I can't tell you whether it's going to $80K or $0. But I do believe there is a huge role for a digitized currency,” he said.
The new ERC-4337 update proposal has been announced by Vitalik Buterin. The ETHereum developer has discussed the new features that will be introduced with the update and the possibilities that the new ERC brings to the network.To get more news about BCH, you can visit wikibit.com official website.
Account Abstraction introduction
The most important update for the ETHereum network will be Account Abstraction, which has been awaited by both the developer and user communities. The update adds new verification logic for individual users' wallets. It creates new functions for wallet developers, which will now be able to implement futures like multiple signatures, social recovery and new signature algorithms.
The aforementioned functions are already present in the modern wallet, but in order to use them, developers have to use additional transactions and spend excessive amounts of GAS. Users have to hold some ETH on an external account or use relay systems that usually work in a centralized manner.
Previously presented EIP-2938 was already designed to fix the issue, but it also required Ethereum protocol changes that do not mesh well with the current developer focus (the scalability issue). In the newly presented proposal, the same goals will be achieved without consensus-layer protocol changes.
How does the new proposal work？
The key function that the update will bring is the new transaction logic that allows the implementation of new uses without changing Ethereum's protocol. With EIP-4339, developers decided to create a new layer that will contain the user's commands and create a queue that will then be bundled and sent out to the block as a transaction.
In his article, Buterin described numerous properties that the new transaction logic brings to the chain. Actors on the chain will now be decentralized since everything is being done through a P2P mempool, simplified user-side wallet setup, full EIP-1559 support and DOS attack protection.
An early version of the update is expected to be released soon. Right after that, the proposal will go through safety audits and will be released on testnet.
For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.
Account Abstraction introduction
The most important update for the ETHereum network will be Account Abstraction, which has been awaited by both the developer and user communities. The update adds new verification logic for individual users' wallets. It creates new functions for wallet developers, which will now be able to implement futures like multiple signatures, social recovery and new signature algorithms.
The aforementioned functions are already present in the modern wallet, but in order to use them, developers have to use additional transactions and spend excessive amounts of GAS. Users have to hold some ETH on an external account or use relay systems that usually work in a centralized manner.
Previously presented EIP-2938 was already designed to fix the issue, but it also required Ethereum protocol changes that do not mesh well with the current developer focus (the scalability issue). In the newly presented proposal, the same goals will be achieved without consensus-layer protocol changes.
How does the new proposal work？
The key function that the update will bring is the new transaction logic that allows the implementation of new uses without changing Ethereum's protocol. With EIP-4339, developers decided to create a new layer that will contain the user's commands and create a queue that will then be bundled and sent out to the block as a transaction.
In his article, Buterin described numerous properties that the new transaction logic brings to the chain. Actors on the chain will now be decentralized since everything is being done through a P2P mempool, simplified user-side wallet setup, full EIP-1559 support and DOS attack protection.
An early version of the update is expected to be released soon. Right after that, the proposal will go through safety audits and will be released on testnet.
For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.
The Bank of England today announced members of two forums that will explore a potential central bank digital currency (CBDC) in the UK. The forum members include PayPal and Google bigwigs among representatives from many Silicon Valley giants.To get more news about LTC, you can visit wikibit.com official website.
CBDCs are digital versions of a fiat currency—like pound sterling, the euro or dollar—backed by a central bank. Countries around the world are currently researching the benefits of developing them. Some countries—such as China and the Bahamas—have already rolled out or are in the testing stages of a CBDC project.
The UK has so far been comparatively slow, and has only announced research into such an asset. But todays announcement shows that the Bank of England is at least consulting with top experts in the tech and finance space. The forum will research and provide feedback to the Bank on how a CBDC could—or couldn't—work in the UK.
“The Forum will help the Bank to understand the technological challenges of designing, implementing and operating a CBDC,” the announcement read.
The members of the CBDC Engagement Forum and CBDC Technology Forum include Edwin Aoki, who serves as CTO, blockchain, cryptocurrency and digital currencies at PayPal, Matthieu Saint Olive, the CBDC and payments manager at ConsenSys, and Ashley Lannquist, project lead, blockchain and digital currency at the World Economic Forum. (Disclosure: ConsenSys Mesh funds an editorially independent Decrypt.)
Other members include Mark Shaw, director of global payments strategy for music streaming provider Spotify, Charlotte Hogg, the CEO of Visa Europe, and Diana Layfield, the president of EMEA partnerships at Google.
The two forums merged in April to explore whether a CBDC will work in the UK. The idea with a CBDC, in the UK at least, is that it would work to compliment cash but would be a fast and secure way of sending money and making payments.
Bank of England boss Andrew Bailey has repeatedly said that he doesnt consider decentralized digital assets, like Bitcoin, to be money.
But he has said stablecoins—assets pegged to fiat currencies though different to CBDCs—could become an important part of the future financial landscape.
For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.
CBDCs are digital versions of a fiat currency—like pound sterling, the euro or dollar—backed by a central bank. Countries around the world are currently researching the benefits of developing them. Some countries—such as China and the Bahamas—have already rolled out or are in the testing stages of a CBDC project.
The UK has so far been comparatively slow, and has only announced research into such an asset. But todays announcement shows that the Bank of England is at least consulting with top experts in the tech and finance space. The forum will research and provide feedback to the Bank on how a CBDC could—or couldn't—work in the UK.
“The Forum will help the Bank to understand the technological challenges of designing, implementing and operating a CBDC,” the announcement read.
The members of the CBDC Engagement Forum and CBDC Technology Forum include Edwin Aoki, who serves as CTO, blockchain, cryptocurrency and digital currencies at PayPal, Matthieu Saint Olive, the CBDC and payments manager at ConsenSys, and Ashley Lannquist, project lead, blockchain and digital currency at the World Economic Forum. (Disclosure: ConsenSys Mesh funds an editorially independent Decrypt.)
Other members include Mark Shaw, director of global payments strategy for music streaming provider Spotify, Charlotte Hogg, the CEO of Visa Europe, and Diana Layfield, the president of EMEA partnerships at Google.
The two forums merged in April to explore whether a CBDC will work in the UK. The idea with a CBDC, in the UK at least, is that it would work to compliment cash but would be a fast and secure way of sending money and making payments.
Bank of England boss Andrew Bailey has repeatedly said that he doesnt consider decentralized digital assets, like Bitcoin, to be money.
But he has said stablecoins—assets pegged to fiat currencies though different to CBDCs—could become an important part of the future financial landscape.
For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.
A South Korean regulatory chief has renewed calls for stronger CRYPTO sector policing, but an industry association has warned that billions of USD worth of damages could follow if crypto-only exchanges are allowed to go bust.To get more news about ETH, you can visit wikibit.com official website.
According to Seoul Finance, the new Financial Services Commission (FSC) Chairman Koh Seung-beom announced that he would seek to “strengthen the monitoring of crypto exchanges” to ensure that they return customer deposits in a timely manner and follow other regulatory protocols.
Koh was speaking to reporters after meeting with the heads of eight policy and financial institutions at Seoul, where he discussed crypto and other matters.
Koh was quoted as stating:
“The Financial Intelligence Unit [a regulatory agency that answers to the FSC] cryptoasset-related labor resources have been increased and a cryptoasset inspection department has been established. We will check with the FIU to see if we are on the right track.”
But the industry is doing what it can to push back against regulatory policies that have seen all but four of South Korea‘s crypto exchanges close or limit their services to crypto-only operations in the past few days. News1 quoted the head of the Korea Blockchain Enterprise Promotion Association as urging politicians to support a private member’s bill in parliament that would seek to unpick the current regulations and open the door for crypto exchanges that have no bank affiliations to offer fiat KRW trading.
The association was quoted as stating that the government and regulators had ignored the will of the “National Assembly, industry experts and the media,” allowing only “large corporations” to offer crypto exchange services.
It added that it was a “bitter pill to swallow for the ”39 medium-sized exchanges who had also invested billions of KRW to build various systems and to obtain information security management system certification – only to be told they had to switch to crypto-only business.
Trading figures have shriveled at most non-big four exchanges in the days following last weeks regulatory deadline.
Allowing these exchanges to go out of business could compromise the holdings of up to USD 8.4bn worth of customer funds, the association warned.
Meanwhile, across the sea to the East, Japanese regulators have been urged to limit or police peer-to-peer (P2P) crypto transactions.
Per Nikkei, legal experts have claimed that “direct [crypto] transactions between individuals have emerged as a hotbed of crime.”
The media outlet noted that the regulatory Financial Services Agency monitors transactions “through exchanges, but mainstream interpersonal transactions are not monitored.”
Experts called for a crypto fraud “deterrent,” and added that a joint “public-private sector collaboration” was “required to create, improve and spread” the “technical capabilities of tracking software.”
According to Seoul Finance, the new Financial Services Commission (FSC) Chairman Koh Seung-beom announced that he would seek to “strengthen the monitoring of crypto exchanges” to ensure that they return customer deposits in a timely manner and follow other regulatory protocols.
Koh was speaking to reporters after meeting with the heads of eight policy and financial institutions at Seoul, where he discussed crypto and other matters.
Koh was quoted as stating:
“The Financial Intelligence Unit [a regulatory agency that answers to the FSC] cryptoasset-related labor resources have been increased and a cryptoasset inspection department has been established. We will check with the FIU to see if we are on the right track.”
But the industry is doing what it can to push back against regulatory policies that have seen all but four of South Korea‘s crypto exchanges close or limit their services to crypto-only operations in the past few days. News1 quoted the head of the Korea Blockchain Enterprise Promotion Association as urging politicians to support a private member’s bill in parliament that would seek to unpick the current regulations and open the door for crypto exchanges that have no bank affiliations to offer fiat KRW trading.
The association was quoted as stating that the government and regulators had ignored the will of the “National Assembly, industry experts and the media,” allowing only “large corporations” to offer crypto exchange services.
It added that it was a “bitter pill to swallow for the ”39 medium-sized exchanges who had also invested billions of KRW to build various systems and to obtain information security management system certification – only to be told they had to switch to crypto-only business.
Trading figures have shriveled at most non-big four exchanges in the days following last weeks regulatory deadline.
Allowing these exchanges to go out of business could compromise the holdings of up to USD 8.4bn worth of customer funds, the association warned.
Meanwhile, across the sea to the East, Japanese regulators have been urged to limit or police peer-to-peer (P2P) crypto transactions.
Per Nikkei, legal experts have claimed that “direct [crypto] transactions between individuals have emerged as a hotbed of crime.”
The media outlet noted that the regulatory Financial Services Agency monitors transactions “through exchanges, but mainstream interpersonal transactions are not monitored.”
Experts called for a crypto fraud “deterrent,” and added that a joint “public-private sector collaboration” was “required to create, improve and spread” the “technical capabilities of tracking software.”
U.S. Senator Cynthia Lummis took to the Senate floor on Wednesday to explain her views on a prospective U.S. central bank digital currency.To get more news about BTC, you can visit wikibit.com official website.
Highlighting the role of a CBDC in the next era of finance, Lummis said: “Americas leadership in global financial services is a heritage our country can rightly be proud of.”
The Wyoming senator went on to outline a vision for a CBDC that is a direct debt instrument with the Federal Reserve, as opposed to stablecoins, which are a claim on commercial bank money or other assets. She was especially concerned with the importance of programmability, which she highlighted as a key distinction between existing digitized versions of the dollar and a true CBDC.
“Programmability focuses on the characteristics of money, including the identity of the owner, the amount of money being transferred and the conditions in which the outside world can interact with that money,” Lummis explained. She further insisted on the importance of continued privacy, saying: “We cannot allow a CBDC to become a panopticon.”
These concerns have cropped up often in discussions of a CBDC, but this is the first time a Senator has spoken at length on a positive vision for such a development on the shared Senate floor.
A digital dollar has been the subject of a great deal of interest, especially in light of a coming report from the Federal Reserve, which Lummis mentioned as background to her remarks.
Lummis also brought up private stablecoins. Legislators and regulators, including at the Fed, have taken to presenting CBDCs and private stablecoins as likely to operate in contention. Lummis denied the comparison to “wildcat banks” of the 19th century — a comparison that Securities and Exchange Commission Chairman Gary Gensler made at a hearing before the Senate Banking Committee in mid-September. She did, however, say:
“Stablecoins also present certain novel risks to the united states economy. In particular, stablecoins should be 100% backed by cash or cash equivalents and should be audited regularly.”
For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.
Highlighting the role of a CBDC in the next era of finance, Lummis said: “Americas leadership in global financial services is a heritage our country can rightly be proud of.”
The Wyoming senator went on to outline a vision for a CBDC that is a direct debt instrument with the Federal Reserve, as opposed to stablecoins, which are a claim on commercial bank money or other assets. She was especially concerned with the importance of programmability, which she highlighted as a key distinction between existing digitized versions of the dollar and a true CBDC.
“Programmability focuses on the characteristics of money, including the identity of the owner, the amount of money being transferred and the conditions in which the outside world can interact with that money,” Lummis explained. She further insisted on the importance of continued privacy, saying: “We cannot allow a CBDC to become a panopticon.”
These concerns have cropped up often in discussions of a CBDC, but this is the first time a Senator has spoken at length on a positive vision for such a development on the shared Senate floor.
A digital dollar has been the subject of a great deal of interest, especially in light of a coming report from the Federal Reserve, which Lummis mentioned as background to her remarks.
Lummis also brought up private stablecoins. Legislators and regulators, including at the Fed, have taken to presenting CBDCs and private stablecoins as likely to operate in contention. Lummis denied the comparison to “wildcat banks” of the 19th century — a comparison that Securities and Exchange Commission Chairman Gary Gensler made at a hearing before the Senate Banking Committee in mid-September. She did, however, say:
“Stablecoins also present certain novel risks to the united states economy. In particular, stablecoins should be 100% backed by cash or cash equivalents and should be audited regularly.”
For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.