CryptoTraderNews Archives - Page 12 of 20

TuesdayAug 13, 2019 11:51 am

Got Blockchain Experience? The US Government Is Hiring

When this government job announcement for a computer scientist with blockchain experience came over my desk, I couldn’t help but get excited by the prospect that the U.S. is finally embracing this wave of technology and getting current with the times. Remember, it wasn’t that long ago when President Donald Trump had a few choice words for cryptocurrency stating: “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” Cryptocurrency and its affect on the American economy is still being seriously discussed but beyond his…

MondayAug 12, 2019 11:43 am

US-China trade war intensifies- Digital Yuan new weapon in arsenal

President Donald Trump tweeted on August 6, 2019, that the U.S. is in a strong position and the US-China trade war is a beautiful thing to watch. President Trump’s view is that Washington is holding ground in this trade war and attracting a massive amount of international investment. However, the key data from the trade war is telling a different story. U.S. exports to China slumped to $33 Billion that is 21%, at the end of June 2019; Chinese exports by contrast, increased by $4 Billion, almost 1%. Over the past 7 months of 2019, China’s trade surplus was over…

FridayAug 09, 2019 12:40 pm

This is the Fastest Blockchain Platform in the World

Imagine sending money to a peer overseas via a bank transfer. It would take 2-3 days and would come at quite a considerable cost. Blockchain transactions can be validated without the help of a 3rd party. Here’s the problem though… Even though most blockchain transactions are processed in seconds, most of them wouldn’t be able to match the speed of Visa or Master-Card. The speed of Bitcoin is 7 TPS while Ethereum stands at 20 TPS. In this article, we’ll explore the fastest blockchain platform in the world. Waves is working on a new technology that will enable the network…

ThursdayAug 08, 2019 11:18 am

Facebook’s Libra Gets A Lobbyist

Facebook is not playing games. They’re putting a lot of money into lobbying U.S. lawmakers on behalf of Libra and they’re hiring the right people with the right connections. Crypto Trader News reported that congressional House members were challenging Facebook with Democratic Representative, Carolyn Maloney stating that she didn’t “think [Facebook] should launch Libra at all,” arguing that the creation of currency should be solely a government function through accountable institutions. We later reported that Facebook executive, David Marcus stated to the legislators that he was committed to analyzing and understanding the data was a priority before launching Libra. Between…

WednesdayAug 07, 2019 11:35 am

PMA Seeks To Replace Israeli Shekel with Crypto

Back in mid-June, Palestinian Prime Minister Mohammad Shtayyeh stated that he wanted to look into every possibility to enhance the freedom of the Palestinian economy that would not be blocked by Israel or the 1994 Paris protocol, which gave the Palestinian Monetary Authority (PMA) the power of a central bank without the ability to issue bank notes. The growing tension lies in the economic and political tensions between Palestine and Israel where PMA alleges that the Israel shekel can be used as a payment for all purposes including official transactions, which leaves Palestine heavily reliant on Israel. Currently, there is…

TuesdayAug 06, 2019 11:04 am

Argent Crypto and Decentralized Banking

Argent is an Ethereum wallet provider which seeks to be a differentiated solution in the Ethereum ecosystem. The project states that it is a “radically better crypto wallet”. One should feel that the Argento wallet is “safer and simpler”, putting the user in control. The wallet provider may make life simpler for users by requiring no paper backups, free transactions and simple addresses. Argent has expanded the functionalities of its Argent wallet by including a MakerDAO platform. This provides users with the ability to access MakerDAO and DAI loans right from the Argent wallet. The Argent and MakerDAO Connection The…

MondayAug 05, 2019 10:55 am

Walmart Submits Patent For Stablecoin

Look out Facebook, retail giant Walmart filed for a patent for a “System and Method for digital currency via blockchain” back in January, 2019. In essence, they have proposed their very own stablecoin. The abstract of the patent application states that the method of their digital currency will be equal to a regular currency, specifically the U.S. Dollar. The method behind this digital currency is blockchain technology that will allow overlaying the digital currency unit with a customer’s purchase history which could also calculate savings and potentially apply those savings to the customer purchases, and to use its cryptocurrency for…

FridayAug 02, 2019 10:54 am

Money Laundering: Bitcoin vs USD

Data from Chainalysis and the United Nations Office on Drugs and Crime revealed that traditional fiat money is used 800 times more than bitcoin to launder money on the darknet. Moreover, these results don’t take into account estimates of money laundering through conventional markets. The Senate committee states that cryptocurrencies such as Bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, drugs, and human trafficking. Many players in the past have attempted to use cryptocurrencies to fund their malignant behavior which is a national security issue. However, Europol’s report, “Why…

ThursdayAug 01, 2019 11:56 am

From Silk Road to the End of the Road

On July 18, 2019, the United States Attorney for the Southern District of New York and a Special Agent-in-Charge from Homeland Security Investigations announced the arrest of Hugh Haney with money laundering from the proceeds of narcotics trafficking on the “Dark Web”. The Dark Web is often referred to as the “Silk Road” for black market goods, a historical reference to the network of trade routes from the Han Dynasty (206 BC – 220 AD) used by merchants who wanted to circumvent restrictions and regulations. Today, the Silk Road has gone digital for the sale of illicit goods and services…

WednesdayJul 31, 2019 12:32 pm

IRS is Sending Warning Letters to Crypto HODLers!

Over 10,000 crypto HODLers have received a firm warning from the Internal Revenue Service (IRS), the United States’ government’s tax organization just last week in the form of letters. They sent about three variations of such letters out by following the information that the IRS has about each individual. One variation demanded that its recipient sign a statement declaring that they complied with tax law under the penalty of perjury. An IRS Commissions official, Chuck Rettig said that they should not take lightly this warning, “taxpayers should take these letters very seriously,” he said. “The IRS is expanding efforts involving…