Orpheusoper

Bitcoin is nothing more than Che Guevara’s new t-shirt

Bitcoin promised to create a new normal in finance, but it turned out to be nothing more than the old normal with a new face

The wonder of the universe is that it is always in motion and, as a result, that everything changes over time. Therefore, what we see today could be something completely different tomorrow, suddenly, there are no certainties.

Karl Marx expressed this concept brilliantly with the phrase „Everything solid vanishes into thin air.“ The same has happened with Bitcoin Up which has gone through various transformations over the years, and from a cypherpunk idea has become a simple Che Guevara T-shirt.

Be your own bank

The following words, published by Eric Hughes in „A Cypherpunk’s Manifesto,“ were the developers‘ big direction in creating e-cash, or electronic money, that was universal, private, and free from control:

„We Cypherpunks are committed to building anonymous systems. We defend our privacy with encryption, with anonymous mail forwarding systems, with digital signatures, and with e-cash.“

It was this idea that gave birth to Bitcoin, decentralized money with the goal of protecting privacy and allowing each user to be their own bank.

„Chancellor on the brink of a second bailout for banks“: this phrase taken from The Times newspaper is even recorded forever in the genesis blockchain of Bitcoin. However, time has transformed Bitcoin, and from an inner circle of cryptographers, BTC has conquered the world even reaching the International Monetary Fund, the Bank for International Settlements, the G-20 and the G-8. Who knows, before the moon, maybe it can reach Mars.

As Bitcoin changed, so did the ideas around it. The desire for privacy gave way to „to the moon,“ and the fruit of a manifesto became just yet another product of what we wanted to „fight against.“

Only the next all-time high matters

Today, instead of the phrases „inclusion of unbanked individuals“ and „be your own bank,“ we celebrate the fact that large traditional banks advertise custodial services for Bitcoin. Instead of privacy, we don’t hesitate to take selfies with personal documents in search of higher limits for trading, leverage, options and futures. We rejoice that billionaire funds and large companies and corporations are buying up all the Bitcoins available, convinced that they too are now „Bitcoiners.“

In politics, there’s an expression that says: if you’ve done something so good to change the world that even your opponents are applauding you, it means you’ve got it all wrong.

We are applauding the big capitalists, those who were bailed out by governments, those who caused the economic crises and the very banks that spit in our faces. Today we are happy to sit next to them and sell our Bitcoins, convinced that they love us.

We celebrate the fact that various countries create „regulations“ for Bitcoin, highlighting that they bring „security“ to the crypto sector, and we are „proud“ to see the biggest companies in the market collaborating with the authorities to „identify“ hackers and malicious parties.

Many large operators are ashamed to say that Bitcoin is being used by hackers, and they forget the history of BTC and its central goal: to be anonymous money.

We are willing to give up our privacy to sit at the table with those we criticize all the time, thinking they love us when, in reality, they are just out to make a profit.

The revolution that never came

Printing „Fiat is a shitcoin“ on bills is akin to an „independent“ teenager deciding to move out on their own but still having their rent, groceries and laundry paid for by their parents. What matters is the dollar value that Bitcoin will exceed ($30,000, $50,000, $100,000 or $300,000), inventory and flow…to the moon.

„Fiat money sucks,“ but the more Bitcoin is worth in U.S. dollar terms the better. After all, the important thing is that 1 Bitcoin will always be equivalent to 1 Bitcoin. It matters how much I bought and how much I hope to sell in order to buy more.

We’ve gotten to the point where we consider people who traded Bitcoin for pizzas or, like Sirius, sold 5,000 BTC to help create the first Bitcoin exchange to be „stupid.“ Hold, hold and hold for it to be worth more and more, I heard recently.

Accumulate, accumulate and accumulate more and more value in Bitcoin. It is, after all, „digital gold“ and the „reserve currency“ of a new age. But the new normal is nothing more than the old normal with a new face.

The whales have gone from names like „Joe007“ to Paul Tudor Jones, MassMutual, MicroStrategy and other „institutional“ investors, the same ones who will be bailed out by the government if bankruptcy approaches.

France will tighten up identity verification procedures on exchanges

An ordinance was presented to the Council of Ministers on Wednesday, December 9.

The measures include in particular enhanced identity identification.

Bruno Le Maire presented an ordinance to the Council of Ministers to toughen identity verification procedures on exchanges. French companies or companies operating in France have six months to comply with the new rules.

The tone hardens in France

Bruno Le Maire had announced it during a televised debate in October:

Cryptocurrencies must be more supervised.

This is done with the presentation of an ordinance (n ° 2020-1544) in the Council of Ministers on Wednesday, December 9.

More specifically, French exchanges will have to tighten up customer knowledge processes and request a second proof of identity. The SEPA transfer would be the second proof envisaged by the government.

These new requirements echo the dismantling in France of a terrorist financing network in Syria using cryptocurrencies.

Two weights, two measures

According to Chainalysis and Elliptic, 1% of BTC transactions are illegal. Which would be 3 to 5 times less than the dollar or the euro.

Additionally, Bitcoin’s total capitalization has never exceeded $ 400 billion. This is 3 times less than the money laundered by Deutsche Bank according to the recent “FinCen Files” scandal.

The FinCEN Files have made it possible to identify $ 2,000 billion in suspicious transactions, of which $ 514 billion relate to the bank JP Morgan , and $ 1,300 billion for Deutsche Bank…

Altcoin Season Brewing as Bitcoin Price Stall and Dominance Takes a Beating (Market Watch)

La comunità specula su una nuova altseason poiché asset come Ethereum, Ripple e Cardano sono aumentati di valore, mentre BTC sembra bloccato sotto i $ 19.000.

La volatilità di Bitcoin è continuata durante il fine settimana con alcune mosse di $ 1.000 che lo hanno portato da un massimo di $ 18.800 a $ 17.700 e viceversa. Le altcoin, tuttavia, hanno mantenuto il loro recente slancio e hanno ridotto il dominio di BTC sul mercato a circa il 63%.
Il fine settimana volatile di Bitcoin

La criptovaluta primaria ha mostrato maggiori segni di volatilità durante il fine settimana. È iniziato sabato con un nuovo massimo annuale di quasi $ 19.000.

Dopo essere arrivato a pochi centimetri dal superamento del massimo storico del 2017, BTC si è diretto verso sud con una vigorosa picchiata di oltre $ 1.000, risultando in un nuovo minimo intraday a $ 17.650 (su Bitstamp).

Le fluttuazioni si sono intensificate, ma questa volta nella direzione opposta quando BTC è tornato a $ 18.700 poche ore dopo. Dopo un successivo ritracciamento, Bitcoin Code si trova ora appena sopra i $ 18.400.

Gli indicatori tecnici suggeriscono che la criptovaluta deve superare le linee di resistenza a $ 18.950, $ 19.400 e $ 19.660 prima di rompere potenzialmente l’attuale ATH.

D’altra parte, i livelli di supporto a $ 18.200, $ 18.000 e $ 17.700 potrebbero aiutare in caso di un’altra rottura dei prezzi.

Altcoins si rallegra e riduce il dominio di BTC

Le monete alternative si sono divertite negli ultimi giorni. Ethereum ha registrato un ulteriore aumento del 7% ed è salito oltre $ 580 poiché l’interesse per lo staking si è espanso ultimamente.

Ripple ha anche raddoppiato la sua recente impressionante performance di prezzo. XRP ha aggiunto il 4% del valore e si trova sopra $ 0,45.

In positivo anche Bitcoin Cash (1%), Binance Coin (1%), Chainlink (1%), Polkadot (3%) e Litecoin (3,5%). Tuttavia, l’esecutore più notevole tra i primi 10 è Cardano. L’ADA è aumentata del 20% e si è avvicinata a $ 0,15. Solo pochi giorni fa, ADA stava lottando per rimanere sopra $ 0,10.

Il club di aumento dei prezzi a due cifre ha diversi rappresentanti di altcoin di media e bassa capitalizzazione. Waves apre la strada con un aumento del 37% su una scala di 24 ore e un aumento del 77% nell’ultima settimana.

I guadagni giornalieri di Horizen sono prossimi con il 30%. Seguono Numeraire (20%), VeChain (12%), Yearn.Finance (11%) e Celo (10%).

Di conseguenza, le altcoin sono riuscite a diminuire il dominio di Bitcoin sul mercato. La metrica che confronta la capitalizzazione di mercato di BTC con tutte le monete alternative è scesa al 63,2%, mentre si è attestata al di sopra del 68% il 19 novembre.

Federal regulators question US progress on national digital currency

In front of the Congress, OCC director Brian Brooks described the importance of innovation in digital assets and the private sector

To compete in the global central bank currency (CBDC) race, the US will need to focus on the private sector, explains Brian Brooks, Acting Comptroller of the Currency.

„We have built private stablecoins in this country that already have a tens of billions of dollars market cap,“ Brooks said Thursday at a hearing of the U.S. House Committee on Financial Services. Former director of Coinbase’s legal department, Brooks currently heads the Office of the Comptroller of the Currency, or OCC, the Treasury division that regulates federal banks. „These assets are being transferred every day, are growing rapidly, and are being used for broad commercial purposes,“ he stressed, adding:

„In this country we don’t have to waste time building a governmental command and control solution. I believe that the private sector is already working on this, and I believe that the role of the regulators here is to provide a framework to ensure that no counter runs or other problems occur to the detriment of consumers“.
The conference committee met two days ago in digital form, questioning four witnesses from the main regulators.

Brooks‘ comments came in response to questions from Minnesota representative Tom Emmer. Emmer highlighted the promise of the fintech industry and the regulators, people and actions that have promoted its growth.

In addition, Emmer spoke about OCC and its recent actions, including clarity on bank custody services. Under Brooks‘ leadership, OCC provided two key clarifications for banks in the crypto sector this year, making cryptocurrency custody possible and approving the safekeeping of stablecoin reserves.

In his main question to Brooks, Emmer mentioned the aversion of Jerome Powell, chairman of the Federal Reserve, to the private development of digital assets. „President Powell informed us at a previous commission hearing that individuals and private sector innovations may not have a place in the Fed’s consideration of a digital dollar,“ Emmer said. „This is worrying.

„As a country, we have not yet recognised the important aspect of competitiveness in this context,“ Brooks explained in response to Emmer regarding the growth of digital assets. He went on to mention ongoing activities and trials on Chinese CBDC:

„In this country we are still a long way from a national real-time payment system. I come to the conclusion that the best solution is to win the way America has always won, unleashing the power of our innovative, dynamic and enterprising private sector.

Yearn Finance proposes a restructuring of fees and rewards in the face of the decline of its TVL

Yearn Finance proposes a restructuring of fees and rewards in the face of the decline of its TVL
Yearn Finance offers better fees for strategists.

Vaults are underperforming and liquidity is draining.

TVL is down 60% since early September, YFI / USD is down 75%

The Trust Project is an international consortium of news organizations based on transparency standards.

DeFi Yearn Finance’s protocol proposed changes to its fee and reward structure in an effort to attract better developers and strategists as liquidity on the platform continues to decline.

Yearn Finance works on the principle of seeking the best returns through constantly evolving strategy management, which saves the investor time and expense to carry out this research himself.

After its launch it was very successful, offering massive four-figure returns for some strategies that became unsustainable over time and needed to be changed.

The yETH vault is a good example of this, as it initially offered a higher than 100% annual return on ETH deposits, but collapsed to less than 0.5% when the strategy collapsed and that liquidity is out of the pool.

In his latest proposal, Yearn suggested that the strategist rewards were too low, recommending an increase to attract the best developers to the platform.

1 / Our goal is to attract and retain the best DeFi developers to work in the Yearn ecosystem.

Some developers have expressed concern that the strategist fee (0.5%) may not be enough to align long-term incentives.

More incentives for Yearn strategists

Strategists are currently receiving 0.5% of their strategy’s profits, but that may be less than what they spent, especially now that returns have fallen from their sky-high levels a few months ago.

The charge comes from the 0.5% withdrawal fee for liquidity providers leaving the vaults. The proposal added that underpaying strategists could cause them to seek short-term gains, and jump on safety or testing.

The V2 vaults, currently in development, will have multiple strategies per vault that share assets under management and offer more realistic returns. After testing different fee models, developer “Banteg” said a management fee would be better than the current withdrawal fee: “Today I learned that a 2% management fee would be four times less. expensive as a withdrawal fee of 0.5%. ”

However, it has been suggested that a 2% management fee would be detrimental to liquidity providers if the strategy no longer becomes viable and the vault starts to underperform, similar to the situation that developed with yETH chests.

Finding the balance between rewarding liquidity providers and strategists at the same time is clearly proving to be a challenge.

Actuality of the locked total value

The total value stuck in Yearn Finance has declined by around 60% since early September and is currently around $ 390 million according to DeFi Pulse .

Yearl Finance TVL – DeFi Pulse

Declining income has led DeFi farmers to seek returns on more equitable pastures, or even revert to Bitcoin , which outperforms almost all other digital assets at the moment.

Yearn’s native token, YFI , suffered a similar blow, falling about 75% from its all-time high in mid-September. Today, YFI is trading at just under $ 10,700, down 25% from last week.

Forudsigelse af Bitcoin-pris: BTC / USD afviser ved $ 13.863, styrter til nøglesupport

Forudsigelse af Bitcoin (BTC) – 28. oktober

Bitcoin står over for en stærk udsalg, der får prisen til at rydde de fleste gevinster, der er opstået de sidste par dage.
BTC / USD Langsigtet tendens: Bullish (dagligt diagram)

I mellemtiden, hvor markedet vil udvikle sig i de næste par dage, kan det bestemme den langsigtede betydning af denne Bitcoin Code afvisning. Men et vedvarende fald under det 9-dages glidende gennemsnit kan være et meget baisse tegn, når det falder mod det 21-dages glidende gennemsnit. RSI (14) bevæger sig ud af den overkøbte zone for bearish bekræftelse. Enhver yderligere bearish bevægelse kan nå understøtningerne på $ 12.600, $ 12.400 og $ 12.200, mens modstandsniveauerne kan være på henholdsvis $ 14.500, $ 14.700 og $ 14.900.

Nøgleniveauer:

• Modstandsniveauer: $ 14.500, $ 14.700, $ 14.900
• Supportniveauer: $ 12.600, $ 12.400, $ 12.200
  BTCUSD – Dagligt diagram

I de sidste par timer har det været hårdt for BTC / USD og det aggregerede kryptomarked, da den største kryptovaluta ser en hård udsalg, efter at prisen steg så højt som $ 13.863 i de tidlige timer af dagens handel. Imidlertid antyder salgstrykket på dette prisniveau, at det kan tage et stykke tid, før handlende eller investorerne ser et vedvarende træk over $ 14.000.

Hvad er den næste retning for Bitcoin?

På tidspunktet for skrivningen ses BTC / USD, der handler lidt over 4,3% til den nuværende pris på $ 13.180,91. Overraskende nok er prisen på Bitcoin ikke rigtig faldet for meget siden begyndelsen af ​​i dag. På det daglige diagram, efter at være dyppet under $ 13.000, lykkedes det BTC hurtigt at komme sig, og det handler nu lige over det 9-dages glidende gennemsnit.

BTC / USD Medium – Term Trend: Bullish (4H-diagram)

Ser vi på 4-timers diagrammet handler Bitcoins pris i øjeblikket omkring $ 13.228 og under de 9-dages og 21-dages glidende gennemsnit efter at være faldet fra $ 13.863, hvor mønten rørte ved i dag. Ser man på det teknisk, er den kortsigtede tendens i sælgernes hænder.
BTCUSD – 4 timers diagram

Den tekniske indikator RSI (14) handler omkring 50-niveau. Så længe den nedadgående tendens fortsætter, kan det være en skræmmende opgave at holde Bitcoin over $ 13.500. I dette tilfælde er de mulige supportniveauer placeret på $ 12.800 og derunder, mens den potentielle modstand ligger på $ 13.700 og derover.

BTC ha più possibilità dell’oro

Previsione Bitcoin di JPMorgan: BTC ha più possibilità dell’oro

La comunità Bitcoin è soddisfatta: la banca statunitense JPMorgan Chase ha recentemente annunciato come vede le prospettive future di Bitcoin (BTC). Secondo questo, il Bitcoin ha maggiori possibilità dell’oro di diventare una valuta alternativa in futuro. Ciò è apparentemente confermato dall’andamento generalmente buono dei prezzi del re delle valute criptate.

JPMorgan ha citato i millenni come motivo di questa previsione. Questi sono aperti alle valute criptate e quindi anche al Bitcoin. Le generazioni più anziane sono più conservatrici e continuano a preferire l’oro Bitcoin Revolution come riserva di valore, si è detto. Tuttavia, rispetto alle generazioni più anziane, i millenni non sono ancora abbastanza significativi dal punto di vista economico, il che influisce anche sull’importanza del Bitcoin.

Le valute cripto sono ancora nuove

JPMorgan ha stimato il valore del mercato dell’oro per un totale di circa 2,5 trilioni di dollari. Se si confronta questo dato con la capitalizzazione di mercato totale del mercato cripto, che al 29.10.2020 ammontava a 341 miliardi di dollari, il rapporto di dimensione diventa evidente. Il mercato dell’oro è attualmente circa 7,3 volte più grande dell’intero mercato dei crittografi, che spesso oscilla anche in modo considerevole. Per raggiungere l’oro, la capitalizzazione del mercato dei crittografi dovrebbe quindi aumentare enormemente. JPMorgan ha spiegato:

Affinché il Bitcoin sia una valida alternativa a lungo termine all’oro, sarebbe necessario raddoppiare o triplicare il prezzo.

Dopo tutto, ciò che Bitcoin ha realizzato in breve tempo è notevole. L’oro è richiesto come riserva di valore e come mezzo di pagamento da migliaia di anni. Bitcoin esiste solo da poco più di dieci anni. Tuttavia, in questo breve periodo di tempo la cripto-moneta è riuscita a diventare almeno il secondo standard rispetto all’oro e ad ottenere una capitalizzazione di mercato che corrisponde a più dell’11% della capitalizzazione del mercato dell’oro.
Bitcoin come mezzo di pagamento

Nella sua dichiarazione, JPMorgan aggiunge che anche le ragioni per la detenzione di Bitcoin possono cambiare. Ad esempio, il Bitcoin non dovrebbe necessariamente essere utilizzato solo come archivio di valori. La banca ha sottolineato che il valore delle valute criptate risiede anche nel fatto che possono essere utilizzate come mezzo di pagamento.

Prospettive a lungo termine

JPMorgan ha inoltre dichiarato di vedere significativi benefici a lungo termine per Bitcoin. Bitcoin è un concorrente più forte dell’oro di quanto (generalmente) si creda. Con il tempo, i Millennials sarebbero diventati attori più grandi e più importanti nel settore finanziario. Con loro ci sono le valute criptate e il Bitcoin.