Andreas Antonopoulos news

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Coinbase is a bank, says Andreas Antonopoulos; cites two reasons for “centralized” exchange’s popularity

In a podcast interview with Adam B. Levine, the host of the Let’s Talk Bitcoin podcast, Andreas Antonopoulos, a Bitcoin proponent and author of Mastering Bitcoin, said that Coinbase was a bank. Levine and Antonopoulos were joined by Jonathan Mohan, a blockchain consultant, to discuss privacy and banks, during which Levine raised a concern about Coinbase, calling it a centralized exchange with no privacy. Levine went on to ask, “So is there a use case for decentralized exchanges, or do we need to have a different type of centralized exchange? Is there a solution to this problem?” Antonopoulos said that we were battling for privacy in the 21st century, in every domain. He clarified that banks were obligated to carry all round surveillance of every financial transaction in and out of every bank account, credit card, and payment under the Patriot Act. He added, “So whenever you do a transaction on your Visa card, or your Paypal transaction, or your bank accounts, you can assume that not only are the Five Eyes agencies of Australia, New Zealand, the UK, Canada, and the United States watching, but you can assume that half of the European intelligence agencies, the Chinese, and Russians are watching that transaction too, and are all doing statistical analysis scoring.” That is how traditional finance worked, he said. Talking about the role exchanges play, Antonopoulos opined that they were a mere subset of what is happening across the financial world. Due to the lack of visibility in crypto, they can be “thwarted, which means you can obfuscate and build better privacy into these systems.” He called Coinbase a crypto-friendly bank. However, being a bank, signing up on Coinbase meant “compromising your privacy,” which is completely opposite of what cryptocurrency stands for, he added. He explained two reasons for the exchange’s popularity, “One is, for people who see cryptocurrency as an investment, which in my opinion has always been the wrong way to look at this. If you’re not earning cryptocurrency you’re buying cryptocurrency, then you need an exchange. You don’t use cryptocurrency, so you keep moving between the two economies of fiat and crypto.” Security in crypto was another issue, he said. He claimed that this lack of security led people to choose banks for outsourcing, banks who “don’t know how to handle their own custody.” He concluded by urging people in the space to help others with self-custody and security of their crypto, to keep people from outsourcing to a company where problems of privacy emerged. The post Coinbase is a bank, says Andreas Antonopoulos; cites two reasons for “centralized” exchange’s popularity appeared first on AMBCrypto.
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JPM coin would not be competing with any cryptocurrency, claims Andreas Antonopoulos

In the latest segment of Let’s Talk Bitcoin, Bitcoin proponent Andreas Antonopoulos openly criticized the functionality and idea of JPM Coin. JP Morgan recently became the first US bank in history to create and test a virtual coin which represents a fiat currency. The JPM coin utilizes blockchain technology to enable instantaneous transfer of payments between clients and institutional accounts. Andreas indicated that the JP Morgan coin was trademarked to work under a blockchain, which did not resemble an actual blockchain’s functionality. He termed the blockchain as an “SQL database”. He commented that it was a means to implement a sturdy database using over-engineered technology. He stated,  “That’s not a blockchain, that’s a sequence of poor engineering decisions!” He termed stablecoins as “ridiculous” and mentioned the impending Facebook Coin. “We’re going to see these types of corporate coins emerge, and they’re going to use words like “blockchain”, but effectively what these are, is centralized, custodial counterparty risk-laden, slowly inflating into shit value, pegged to the unstable debt-ridden U.S. dollar, and backed by the full faith in credit and the biggest crooks in history who run Wall Street.” Andreas added the impending Facebook Coin to the list and explained that the use of terms like “blockchain” was wrong as they effectively were centralized, custodial counterplay risk-laden, slow inflation into the poor return of value, and pegged to the unstable debt-ridden US dollar. He stated that such stablecoins were a waste of time. It would not be competing with any cryptocurrency, but it would compete with the likes of Paypal and Venmo, he added. Moreover, Andreas pointed out that JPM’s coin would not compete well once Facebook launches its token, associating it to Facebook’s extreme social media reach. Andreas Antonopoulos stated, “I am not worried at all about crypto because crypto serves an entirely different purpose. It serves the purpose of independent, decentralized, censorship-resistant, borderless, world currency that is not controlled by a single company. They cannot compete.” The post JPM coin would not be competing with any cryptocurrency, claims Andreas Antonopoulos appeared first on AMBCrypto.
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Bitcoin [BTC]: Andreas Antonopoulos rejects the idea of China launching 51% attack on BTC blockchain

Andreas M. Antonopoulos, the author of Mastering Bitcoin, explained why the Chinese government couldn’t launch a successful 51% attack on the Bitcoin blockchain. The argument whether China could launch a 51% attack on the BTC blockchain erupted from a tweet posted by Anthony Pompliano on March 16, 2019. Pomp tweeted: “The Lightning Network hit a new all-time high of over 1,000 BTC in network capacity today. Don’t listen to the noise. Bitcoin is going to scale just fine ” Galgitron, a prominent person in the XRP community, requested Pomp to compare the use of Lightning Network to XRP. This comment led to the age-old topic that “XRP does everything that Bitcoin can and better”. Some of the users argued that Bitcoin could become a store of value if not peer-to-peer cash. Galgitron replied: “What you fail to understand is that once Bitcoin loses first spot, the price will drop, miners will defect, a 51% attack will occur, confidence will be lost, and it will collapse. Bitcoin isn’t a rookie baseball card” @ptothehyphen disagreed with Galgitron as he replied: “That price action and 51% attacks are correlated….also even if a party managed a takeover of bitcoin, the power needed to mantain the attack for a prolonged period is astronomical (but anything can happen in crypto)” Although 51% attack on the Bitcoin blockchain is widely debated, it certainly is not impossible. However, the amount of resources required to do the same is massive and it does not make any sense considering the upsides of the attack. Before the BCH hash wars and the bear market of 2018, the mining pool of Bitcoin came eerily close to being completely dominated by the Chinese miners. Bitmain played a very important role and held a subsequently large stake of the mining pool. However, the stake in the mining pool by the Chinese counterparts has since reduced down. Galgitron commented: “Ya, @aantonop isn’t the best authority to elucidate PoW attacks. In this video, sure, the attacks he describes are ludicrous, but he conveniently sidesteps the Chinese govt commandeering 4 mining pools to double-spend Bitcoin, which can be done literally today with zero warning.” Andreas Antonopoulos addressed these topics in-depth and explained how a 51% attack by China was not possible. Antonopoulos replied to the comment: Jason A. Williams, a founder of Morgan Creek Digital, added: “I have thought a lot about the 51% attack. Technically possible, yes. Financially improbable. 3 real threats – 1. Hardware maker attack (state)- they run their inventory already and sell used gear 2. Hardware backdoors – 3. Spying technology – access users private keys” Antonopoulos jumped in and replied to Galgitron: “I feel comfortable knowing that China *cannot* instantly destroy Bitcoin. Trying to destroy bitcoin this way will not only fail, but it will demonstrate its resilience by failing. That’s a worse scenario than simply throwing shade at BTC with propaganda” Antonopoulos also elucidated that the 51% attack would not be over in an hour but would take an hour to start and even if the attack did start, those pools would be abandoned by the users. The post Bitcoin [BTC]: Andreas Antonopoulos rejects the idea of China launching 51% attack on BTC blockchain appeared first on AMBCrypto.
AMBCrypto

Andreas Antonopoulos on BTC and ETH, Jesse Powell’s new Twitter war and more

Crypto News – 14th March – Andreas Antonopoulos on BTC and ETH, Kraken’s new Twitter war and more Don’t forget to follow us for the daily video#Kraken @jespow #TheBlock #bitcoin #ETHEREUM @aantonop #BaselCommittee #BCBS #cryptocurrencies pic.twitter.com/vlK3fusRW1 — AMBCrypto (@CryptoAmb) March 14, 2019 Daily Crypto news – 14th March, Basel Committee on Cryptocurrency: The Basel Committee on Banking Supervision warned that cryptocurrency growth has the potential to destabilize the global banking system. Read more at https://bit.ly/2Jc3JKP Bitcoin receives major endorsement: Legendary stock market expert, Marc Faber endorsed the cryptocurrency after admitting he made his first purchase of the coin. Read more at https://bit.ly/2FaUeaP New Coinbase Custody feature: Coinbase Custody introduced a new feature that provides users instant liquidity on offline funds. Read more at https://bit.ly/2T6Atou Joseph Lubin on cryptocurrencies: The co-founder of Ethereum hailed the rise of blockchain and crypto communities, pegging the former as “new trust infrastructure” Read more at https://bit.ly/2F9Of5O Ran NeuNer on XRP: Ran NeuNer responded to Anthony Pompliano’s claim of Bitcoin being fast, by saying that XRP was faster. Read more at https://bit.ly/2u7CQxe Justin Sun on Bitcoin: Tron’s CEO said Bitcoin and other cryptocurrencies have a bright future, especially since JP Morgan and Facebook joined the bandwagon. Read more at https://bit.ly/2JbDrrT Cryptopia secures 35% coins: The New Zealand-based exchange informed users that it had secured custody of 35% of coins on new wallets. Read more at https://bit.ly/2O7Qk5q   The post Andreas Antonopoulos on BTC and ETH, Jesse Powell’s new Twitter war and more appeared first on AMBCrypto.
AMBCrypto

Bitcoin [BTC] and Ethereum [ETH] have different niches, says Andreas Antonopoulos

Andreas Antonopoulos, a Bitcoin expert and author of ‘Internet of Money,’ discussed the contrasting use cases and goals of Bitcoin and Ethereum blockchains in a recent interview. He said that the two blockchains’ use cases cannot be performed by the other. “Essentially the two systems ETH and BTC evolved in divergent directions and they can occupy different niches but they can’t actually occupy the same niches at the same time.” Even though maximalists from both sides urge that the use cases of one can be performed by the other blockchain, Antonopoulos claimed that it was ‘meaningless.’ He admitted that any blockchain with a different use case can only achieve this partially, and not outperform the original blockchain. Bitcoin, which strives to become global money, is vastly different from that of Vitalik Buterin’s Ethereum, Antonopoulos said. He asserted that the latter’s core was different from that of the former, not in terms of application, but in terms of design choices and engineering of the two blockchains. He said, “It’s in its DNA, the two systems have been evolved, not in the random mutation but a direct evolution perspective.” The author further suggested that the initial design decisions and trade-offs made for Bitcoin facilitated the blockchain to become a very “robust, secure, nation-state resistant, a censorship-resistant form of global money.”Antonopoulos further added that this subsequently attracted a particular set of individuals to come forward with the same vision, strengthening the existing design trade-offs in that direction. Talking about the design trade-offs in Ethereum, he said that the ETH blockchain was built with “an unconstrained software engineering mentality.” According to him, the developers were looking to address a “broader set of problems to solve.” The design trade-offs for this attracted a different set of people in comparison to Bitcoin. The author also said that building a trade-off in Ethereum required its own blockchain for it to be meaningful. He also suggested that issues such as scaling in the ETH blockchain were much harder than that for BTC. The post Bitcoin [BTC] and Ethereum [ETH] have different niches, says Andreas Antonopoulos appeared first on AMBCrypto.
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Maximine Coin Surge, eToro Adds TRON, Rakuten and Yahoo, Boss Crypto - Cryptocurrency News

Maximine coin is up more than 700% within the past 30 days. eToro also announced yesterday that they will add Tron TRX to its platform with more than 10 million registered users. Mattie will also talk about Rakuten and Yahoo continuing Mainstream Progression Towards Cryptocurrency as well as Boss Crypto, a crypto investment and education platform. ----------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://twitter.com/Altcoinbuzzio Facebook: https://www.facebook.com/altcoinbuzzio/ Telegram: https://t.me/joinchat/DLi8Ug8negQrbwYO-oqNRA ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: BossCrypto – Crypto Investment and Education Platform https://www.altcoinbuzz.io/crypto-news/spotlight/bosscrypto-crypto-investment-and-education-platform/ Boss Crypto https://bosscrypto.co/buzz Yahoo and Rakuten Continue Mainstream Progression Towards Cryptocurrency https://coingape.com/yahoo-rakuten-progress-cryptocurrency/ Rakuten Wallet Launch Announced for March 30, 2019 https://www.ccn.com/rakuten-wallet-launch-announced-for-march-30-2019 Here’s Why Crypto Maximine Coin (MXM) Jumped 754.5% in March https://cryptoupdate.ca/heres-why-crypto-maximine-coin-mxm-jumped-754-5-in-march/ https://www.coingecko.com/en/coins/maximine https://maximine.io/ eToro adds Tron TRX to its Platform with More than 10 Million Users https://www.altcoinbuzz.io/crypto-news/product-release/etoro-adds-tron-trx-to-its-platform-with-more-than-10-million-users/ https://twitter.com/Altcoinbuzzio/status/1110447607250210817 -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Maximine Coin [MXM] Jumps 30% Higher While Top Currencies Continued Bleeding

In a continuous declining market, there’s one coin that stood out higher. Maximine Coin or MXM Coin broke a new record of entering into the graph of Top 40 cryptocurrencies with a spike of 30 percent over the past 24 hours. Why MXM Coin Pumped Higher? The value surge is quite surprising because the top crypto assets including Bitcoin, Ethereum, XRP, Litecoin, EOS, Bitcoin Cash, Binance Coin, and many other cryptos are on the way out. Nevertheless, the major concern comes after the spike of MXM Coin trading volume on CoinBene exchange which suspects to have wash trading activities. Despite this decline drive, Maximine Coin’s MXM token is ruling with rising volume among the top 40 cryptocurrencies. At the moment, the MXM’s average trading value counts $159,653,386 which has gained 30.11 Percent over the last 24 hours. Moreover, the coin is trading at $0.096818. Maximin Coin or MXM is presently available at a handful of crypto trading platforms including CoinBene, HitBTC, Coinbit, and Livecoin. Among these exchanges, the highest trading volume is split among CoinBene and HitBTC with pair of USDT, ETH, and BTC respectively. Is there anything Related to CoinBene’s Suspected Wash Trading? Looking closer at the coinmarketcap, the highest trading volume of MXM coin can be seen on CoinBene, the exchange which was once noticed of involving with wash trading activities as reported by Bitwise Asset Management. Reports further revealed that the volume is faked by the exchange itself that results to inflate actual numbers to catch user’s attention. Moreover, the exchange registered in Singapore and doesn’t need KYC for a user to have an account with. To note, the Bitforex exchange where MXM Coin will soon be listed is also based out in Singapore – moreover, Maximine Coin is reportedly registered in the same country. Additionally, recent reports reveal that the coin had gained mainstream concern from Bitforex, a Singapore based trading platform. The firm announced to list MXM coin on its exchange which many speculate and relate the coin’s significant performance with. Heard the news? 👂🏼 Seen the papers? 👀 If you haven't, keep your eyes glued to the screen and your ears wide open because @maximinecoin is coming to @bitforexcom ! 🍻🙌🏼 Details in link below! 👇🏼https://t.co/A8E21UuBz2 — MaxiMine (@maximinecoin) March 26, 2019 What do you think about CoinBene and its trading contribution to Maximine Coin? share your opinion with us  The post Maximine Coin [MXM] Jumps 30% Higher While Top Currencies Continued Bleeding appeared first on Coingape.
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