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Mixed Reaction To Facebook’s Libra Coin Among The Bitcoin Community Leaders

It goes without saying that Facebook’s foray into cryptocurrency is perhaps one of the most discussed topics amid the entire community. Looking closely, though, we can see that the response, in general, is somewhat mixed. Changpeng Zhao Seemingly Positive on Libra The CEO of the world’s leading and definitely most proactive cryptocurrency exchange, Binance, sees quite a lot of positivity in Facebook’s venture into the field. The executive is pretty vocal on his stance, saying that countries should be encouraging their major tech corporations to issue their own tokens as a means of increasing influence. Zhao, however, touched upon a rather sensitive subject – the one about anonymity, KYC, and AML procedures. This was perhaps provoked by the fact that, according to the official website, users who want to download the Calibra app would have to submit a government-issued ID document, causing substantial turmoil amid cryptocurrency enthusiasts. Yet, Zhao reminded that Facebook already has all the information on their users. Facebook Libra coin don’t need KYC. They have so much more data on the 2 billion people. Not just name, id, address, phone number. They know your family, friends, real-time/historic location, what you like… They know you more than yourself. And now your wallet too. Best AML! — CZ Binance (@cz_binance) June 18, 2019 Moreover, Binance also did a thorough review of the long-awaited cryptocurrency, outlining the potential impact it could have in both short- and long-term. According to the report, through Libra, Facebook could establish itself as a provider of open-source technology, while also sparking additional volume in the entire market. Looking from a long-term perspective, Binance outlined that Libra could reshape the payment industry, provide new offerings of financial services, as well as to advance greater freedom of money throughout the world.   Others Are Rather Hesitant Popular industry commentator Ari Paul said that Libra might not even see the daylight. According to him, there’s a 50/50 chance of the cryptocurrency to go forward as there are dozens of different regulatory and legislative authorities which will explore how to block it. The CEO of the popular cryptocurrency exchange ShapeShift also weighed in. According to him, Facebook launching its own cryptocurrency is a massive milestone for the industry, when you look at the bigger picture. Thoughts on Libra (and my first tweetstorm!):  first, zoom out for a second and realize how far this industry has come. The biggest companies in the world are now launching cryptocurrencies. BOOM. – He said. He also outlined a lot of positives, but didn’t forget to state the obvious – that Libra is “clearly not a pure cryptocurrency,” and that nobody “should expect privacy by using it.” He said that there are regulatory burdens which will prevent its acceptance throughout the entire world. We already saw European government official backlash against it, saying that multinational companies such as Facebook shouldn’t be allowed to operate in a “regulatory nirvana when introducing virtual currencies.” The Community Doesn’t Trust Libra Over Banks In what looks like the ultimate statement of the community, the overwhelming majority of people have clearly stated that they won’t trust Libra even over traditional banks. Would you trust Facebook’s coin (Libra) more than payment and financial services provided by banks? Vote and retweet to get a good sample size. Comment if you have an opinion on the matter or tag someone who does. — Gabor Gurbacs (@gaborgurbacs) June 14, 2019 As seen in the results of this poll posted by Gabor Gurbacs of VanEck, 79% of people are skeptic of Libra’s trustworthiness compared to traditional banks. Given that over 3,600 people voted, the results can’t simply be overlooked. The post Mixed Reaction To Facebook’s Libra Coin Among The Bitcoin Community Leaders appeared first on CryptoPotato.

Top Cryptocurrency Community Leaders and Figures’ Discussions During 2018

During 2018, there have been several discussions among individuals from the cryptocurrency space. Some of them in favor of one or another digital asset while some others do not support virtual currencies. One of the confrontations that the market witnessed was between Tone Vays and Nouriel Roubini. Tone Vays is a Bitcoin proponent and a trader. Roubini is known for predicting the 2008’s crisis. Vays commented on Twitter about a specific haircut that he wanted to do. Under the tweet, Roubini answered his tweet attacking Bitcoin and Tone’s position about it. Nouriel Roubini has also been exchanging comments with Vitalik Buterin, Ethereum’s co-founder. Roubini accused Buterin of stealing 75% of Ethereum’s supply. However, Buterin answered that he does not have the money that Roubini believes he has. Vitalik Buterin has also clashed with Justin Sun the founder of the Tron Foundation and its CEO. Buterin commented that virtual currencies will not have another opportunity for a 1000-times growth. However, Justin Sun mentioned that Tron (TRX) would be able to surpass Ethereum in the number of transactions. Nevertheless, this is not the last issue that Buterin faced. He has also been involved in an argument with Binance CEO, Changpeng Zhao. Binance is one of the largest virtual currency exchanges in the market. Changpeng Zhao asked Vitalik Buterin to which everyone in the cryptocurrency space good things. Another event that shaped this 2018 was the hash war and discussions between Bitmain’s Jihan Wu and Craig Wright. They were both proponents of different scaling solutions for Bitcoin Cash (BCH). Wu supported Bitcoin ABC’s proposal while nChain’s Craig defended Bitcoin Satoshi Vision (BSV). Starting on December 15, both networks were involved in a hash war trying to be the most important network. However, the hash war ended with Bitcoin SV forking from Bitcoin Cash’s network. Now, Bitcoin Cash and Bitcoin SV are two different assets. John McAfee, perhaps one of the most bullish individuals in the cryptocurrency market, has been arguing with the U.S. Securities and Exchange Commission (SEC) about regulatory issues. The SEC has been trying to regulate the crypto market during 2018. McAfee said that he does not agree with the head of the SEC (Jay Clayton) when he talks about ICOs as securities. Furthermore, McAfee says that he disagrees with him and that he will not be working anymore with future ICOs. McAfee has been promoting different ICOs and companies in the crypto space. Additionally, McAfee has also been attacking the cryptocurrency exchange HitBtc. He said that the platform increases the suffering of millions of poor people that are not able to afford the minimum buy-in since it is greater than their monthly income. These are just some of the examples of different tweet wars that took place in the cryptocurrency industry during 2018. There are others that have also been interesting to follow and there will be many others to come in the future.
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Token Swap: Tether Announces Token Burn Of Over 400 Million USDT

Tether has shared a piece of information about a forthcoming token burn which according to announcement would take place shortly. According to a tweet from their official Twitter handle, Tether plans to shortly move 400 million Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. Tether will shortly move 400m Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them. — Tether (@Tether_to) September 16, 2019 Tether Minted 300 million USDT Few Days Ago Few days ago, Tether took to Twitter to inform its users that it was coordinating with a third party to perform a chain swap. This was planned in order to convert some tokens from their original Omni to an Erc 20 protocol. At the time of the initial announcement, 300 million Tether USDt was announced to have been minted for the swap. However, these conversions took place few days ago as Tether promised the token swap wouldn’t disrupt the total supply. In few hours Tether will coordinate with a 3rd party to perform a chain swap (conversion from Omni to ERC20 protocol) for 300M USDt. Tether total supply will not change during this process. — Tether (@Tether_to) September 12, 2019 Whale Alert, a twitter account dedicated to alerting the community of big cryptocurrency transactions, noted the coinage described above in a tweet published on Sept. 12. As per a second tweet submitted as an answer to the first one, Whale Alert offered an explanation of the type of transaction: “This USDT mint is part of a swap. The corresponding burn on Omni has not taken place yet.” And finally, Tether is burning the Omni Tether that was already converted to ERC20. Until now, no token burn has taken place on Omni blockchain. In July, it was reported that Tether accidentally minted and burned 5 million USDT tokens. However, Tether long-standing controversy about issues relating to transparency and market manipulation. The post Token Swap: Tether Announces Token Burn Of Over 400 Million USDT appeared first on Coingape.

Zero-Knowledge Proof Solution from QEDIT Implemented Into Kaleido Blockchain For Transaction Privacy

Kaleido, a startup blockchain solution from ConsenSys Venture Studio has gone on record to become the first blockchain platform to implement the zero-knowledge proof solution from QEDIT—the crypto private company. A Non-compulsory Feature On September 13th, 2019 QEDIT shared a paress released with Cointelegraph where it stated that the partnership it had developed with Kaleido […]
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Cryptocurrency Exchange OKEx Korea Removes Privacy Altcoins

According to an official announcement made by the South Korean branch of OKEx, the popular exchange will delist five privacy coins as early as October 10, 2019. Complications for Privacy Coins Trading of Monero (XMR), Dash (DASH), ZCash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on OKEx Korea will be suspended on October 10, 2019,Read MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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