Consumer groups call for a moratorium on Libra until ‘profound questions’ are answered


990D2FE0-6CC1-44A0-B793-86E2E4164409

Some 33 consumer and public-policy groups sent a letter Tuesday to five Congressional committees and federal regulators asking for a moratorium on the Facebook Inc.-backed Libra cryptocurrency.

“We call on Congress and regulators to impose a moratorium on Facebook’s Libra and related plans until the profound questions raised by the proposal are addressed,” says the letter. “We also urge Facebook to put its implementation of its plans for the new cryptocurrency, Libra, on hold until the Congress and regulators have an opportunity to assess and react to a far more detailed presentation than has yet been made public.”

Among the signatories are the Consumer Federation of America, Consumer Reports, the Economic Policy Institute, the Electronic Privacy Information Center, Public Citizen, U.S. PIRG, and the Woodstock Institute.

Continue reading… “Consumer groups call for a moratorium on Libra until ‘profound questions’ are answered”

0

3 powerful ways crypto is completely going to transform our lives

A05A64B3-D23B-4C72-BBA6-88AB1B708B53

You won’t believe it till you transact it

Its time to cut the crap. Humanity is on its way to decentralization. The choice is yours to become antiquity in the museum of fiat corruption, or a fast crypto Lamborghini fueled by blockchain on its way to peer to peer financial empowerment.

Lets no longer deny the future of money. It will be digital, it will be apps, it will be borderless and neutral. And it will be humanities biggest escape from the capitalist abyss of pyramidal driven greed destruction. Nakamoto will be proven to be the 21 century Houdini showing the escape route from the financial chains of banks and middlemen slavery. He introduced the technological way that will eventually free most of humanity from the parasitical power of cartels. And if you don’t grasp it yet fully, its OK.

Buckle up for these 3 biggest transformational changes crypto, bitcoin and cryptocurrencies will bring us on the long run.

Continue reading… “3 powerful ways crypto is completely going to transform our lives”

0

This father of three put everything into bitcoin. Here’s what happened next.

61865533-E755-439A-BBB6-03AD8899F325

The Bitcoin Family are traveling the world, unencumbered by centralized currency.

When I jumped on a WhatsApp call with 41-year old Didi Taihuttu, he was a few days away from joining his family on CoinBank’s annual Mediterranean “Blockchain Cruise” — a combination vacation getaway and crypto symposium at which all the movers and shakers in the decentralized finance arena get together to discuss a hypothetical future where government-printed money is rendered obsolete, dropping by Mallorca and Marseille along the way.

According to Taihuttu, invitations to blockchain conferences and seminars have piled up ever since he liquidated almost everything he owned (yes, including his house and his cars) and invested his remaining capital in bitcoin. It’s a financial pivot that’s both irrational and dangerous to an outsider, but within the crypto nation, it can make you a legend.

Continue reading… “This father of three put everything into bitcoin. Here’s what happened next.”

0

Florida city gives in to $600,000 bitcoin ransomware demand

Cybercrime

But there’s no guarantee hackers will actually restore Riviera Beach’s systems.

Riviera Beach, a city in Florida, is set to pay hackers $600,000 in bitcoin with the hope of having its systems restored. Hackers took over the systems several weeks ago, when a police department employee opened a malicious email that allowed them to inject the city’s network with malware. Now the council has voted to pay the ransom in the hopes of getting Riviera Beach’s encrypted records back — even though there’s no actual guarantee the hackers will restore them.

Continue reading… “Florida city gives in to $600,000 bitcoin ransomware demand”

0

Mark Zuckerberg is about to become the head of a Swiss Bank. 3 reasons it should make you think

 

169A72E6-B923-418B-AA1F-147DDF59E79D

Mark Zuckerberg is about to become the head of a very big bank based in Switzerland. Libra is Facebooks’ new cryptocurrency. Imagine sitting in a room thinking about what else you can sell to your 2.4bn people (including some bots) backed by a $1bn in guarantees from companies as wide as Paypal, Mastercard and Uber. This has the opportunity to severely disrupt existing financial transactions markets but also the deeper psychology of trust of our collective financial systems, collective expectations for what currency can and should do and also our personal relationships. For example, please pay me to socially post positive things about you. Just drop me some Libra.

Continue reading… “Mark Zuckerberg is about to become the head of a Swiss Bank. 3 reasons it should make you think”

0

Why Blockchain is Hard

09D84EF4-53BE-47D0-80C3-A74F205625C2

The hype around blockchain is massive. To hear the blockchain hype train tell it, blockchain will now:

  1. Solve income inequality
  2. Make all data secure forever
  3. Make everything much more efficient and trustless
  4. Save dying babies

What the heck is a blockchain, anyway? And can it really do all these things? Can blockchain bring something amazing to industries as diverse as health care, finance, supply chain management and music rights?

Continue reading… “Why Blockchain is Hard”

0

Bitcoin mining is shockingly mostly powered by green energy

B9AD16EF-0465-4CAB-B17C-C2290FA0B4FD

A game-changing CoinShares report reveals that three-quarters of bitcoin mining is done using renewable energy including hydroelectric power.

By CCN: Contrary to popular opinion, it appears that Bitcoin mining might not be as bad for the environment as people think. In a highly detailed report, CoinShares research reveals that 74% of mining activity runs on renewable energy.

“We show that Bitcoin mining is mainly located in global regions where there are ample supplies of renewable electricity available. And…we calculate a conservative estimate of the renewables penetration in the energy mix powering the Bitcoin mining network at 74.1%, making Bitcoin mining more renewables-driven than almost every other large-scale industry in the world.”

Continue reading… “Bitcoin mining is shockingly mostly powered by green energy”

0

Bitcoin regulation : South Korea is making progress

 

DE1A7307-2364-432E-A874-C4A5478BD3A8

On June 8th, the South Korean Advisory Committee met to develop a legal framework for national crypto exchanges. Following the Coinrail Market’s recent hack, the South Korean government is enforcing stricter investor protection guidelines: Know Your Customer (KYC) and Anti-Money Laundering (AML).

Continue reading… “Bitcoin regulation : South Korea is making progress”

0

Fiat vs Cryptocurrency: Pros and Cons

 

3F4077BA-6DC4-4117-8819-4F4754728B87

While some early adapters may not need convincing to join the cryptocurrency craze, others are left wondering, what exactly is it good for? I can’t put it in my bank, I can’t use it at (most) stores, what can I do with cryptocurrencies? Before we get into the ins and outs of cryptocurrency and how it can be used, first let’s look at some of the similarities and differences between fiat and cryptocurrency.

Continue reading… “Fiat vs Cryptocurrency: Pros and Cons”

0

What will Bitcoin look like in twenty years?

 

9D216F8F-688F-4677-8FC9-6334156D17CCPrediction is a tricky business.

It’s so easy to be wrong and so hard to be right.

But that’s exactly what we’ll do here. Since we’re rapidly approaching the ten year anniversary of Bitcoin’s whitepaper publication, I’ll attempt to project out twenty years to see the evolution of Bitcoin, blockchain, alternative cryptocurrencies and decentralization.

This is the type of article that will look unbelievably foolish or incredibly brilliant when I’m old and gray.

I don’t care. I’m going for it anyway.

Continue reading… “What will Bitcoin look like in twenty years?”

0

The next FinTech: Global “Open Finance” Infrastructure

324B7C1D-06D9-4B56-ABAB-7878B33B3DFF

“Open Finance “ — open-source financial services infrastructure built on public blockchains — may be the next major digitization narrative after Fintech. Driven by the transformation of analog liquidity (deposits in a bank account) to digital liquidity (tokens in digital wallets), the playing field can be leveled for offering financial services. As a result, new profit motives are introduced encouraging innovations not previously feasible.

Technology disrupting finance is a narrative that’s existed for a long time. The dream has always been for tech to digitize financial services, increase competition/access, reduce concentration risks, and improve customer experience. Many sales-pitches have tried to achieve this: from FinTechs, TechFins, API / Open Banking, to Permissioned Blockchains.

Continue reading… “The next FinTech: Global “Open Finance” Infrastructure”

0

Blockchain: Separating fact from fiction

A3C6C89E-C6B4-4961-BA8D-D14BD152F295

Blockchain is not a single technology. After having been conceived by Bitcoin creator — Satoshi Nakamoto, the world discovered the first known representation of this abstract concept through Bitcoin. Since then, hundreds of implementations have been explored. These are also called Distributed Ledger Technologies.

With hindsight, the blockchain concept is quite simple: it proposes an innovative information system architecture to process value exchange within open ecosystems. On the traditional web, information can be corrupted. Blockchain aims at securing high-sensitive data exchanges to preserve them from wrongdoing.

Continue reading… “Blockchain: Separating fact from fiction”

0