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2023-07-20 17:59:50 Mining Bitcoin in 2013

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2023-07-19 22:59:33 Societe Generale was granted a license to work with cryptocurrency
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SG Forge, the cryptocurrency division of Societe Generale Bank, has become the first company to receive a license from the French Financial Market Supervisory Commission (AMF) to provide crypto services in the country. Since July 18, SG Forge has been authorized to buy, sell, exchange and store digital assets.

While dozens of cryptocurrency companies, including the world's largest crypto exchange Binance, are only registered with the AMF, SG Forge managed to obtain a license from the regulator. Licensing requires the company to be established in France and "comply with a number of requirements in terms of organization, financial resources and business conduct," according to AMF terms.

Deutsche Bank applied for a cryptocurrency license from the German regulator in June.

"We are growing our digital assets and custody business. We have just applied to Bafin for a digital asset license," Deutsche Bank's head of corporate banking David Lynn said at a June 20 conference.

The move is part of the bank's strategy to boost fee income, Lynn said. It also reflects efforts by Deutsche Bank's investment arm, DWS Group, to increase revenue from digital asset products.

Also recently, HSBC Bank's Hong Kong branch allowed customers to buy and sell exchange-traded fund (ETF) shares for bitcoin (BTC) and Ethereum (ETH) listed on the Hong Kong exchange, becoming the first bank in the region to officially approve the service.

In April, cryptocurrency exchange Coinbase received a Bermuda license to launch an offshore exchange and announced plans to open derivatives trading. The U.S. crypto platform has begun to expand its international presence amid difficulties with industry regulation in the United States.

Will the integration of banks into the cryptosphere be a positive thing, for the cryptocommunity?

- Yes
- No

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2023-07-19 22:49:15 BREAKING: Robert F. Kennedy Jr. announces plan to back the dollar with Bitcoin & end Bitcoin taxes!

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2023-07-19 10:28:02 zkSync scam?
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Those who followed crypto yesterday probably saw the announcement about the NFT airdrop from zkSync. If you don't know what airdrop is yet, let's figure it out together.

Zksync made a snapshot, from which they selected 180 000 network users who somehow interacted with NFT in the mainnet within the time frame set by the project.

Out of these 180k randomly selected 10k users and sent out NFT LIBERTAS OMNIBUS. Yesterday the minimum price for these jpegs was in the neighborhood of 0.08-0.1 ETH and we can say that everyone who has a lot of luck or a lot of accounts were made specifically for this project, but if not for one thing.

Smart users started to check wallets, which fell under the drop and noticed one regularity. A huge part of wallets began with 0x000. 9300 wallets were scattered in ascending order and 700 were random.

What could that mean to us? Project funders slipped their wallets and gave themselves a drop. Either a member of the team simply put their addresses under the drop or just random and all this fud (this is an acronym from the psychology of manipulation, it is a special tactic in the course of which there is a manipulation on a person through his negative emotions). In order to piss off the audience of the project and raise interest in the topic. It is worth recalling that the project has more than $450 million in investments.

It's funny that as soon as the funders realized that the matter takes a serious turn and users start to show a lot of negativity towards the project, they immediately made an announcement, in which they said that it was just the first list and all 180k users will receive these nft. This is one more reason to realize that projects even with such a large amount of investment, can still not be fair to ordinary users.

What do you think, another fluke or deliberate deception?

- Randomness
- Something's wrong

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2023-07-18 10:31:49 Appchains, sidechains, omnichains, omnichains, parachains... ? For those lost in the terminology
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All "chains" are created to solve two major problems of blockchain: interoperability and scalability. Therefore, it would be logical to categorize them into two groups

Group : Interoperability

Multichain (not to be confused with rect-bridge)
This term refers to a situation where a dApp operates with an isolated set of smart contracts on multiple blockchains. This increases overall throughput, user engagement rate, and cost efficiency. However, multichain comes with challenges such as fragmented liquidity and difficult linkability.

Crosschain
Crosschain is the ability of different blockchains to interact, exchange data or value and transact with each other. This is often done through bridges, but there are other approaches, such as Chainlink's Crosschain Interoperability Protocol (CCIP).

Omnichain
In Latin, Omni means "everything" or "everywhere." In general, this is roughly what it means - a kind of universal layer for all blockchains, ensuring their interoperability and crosschain functionality. The best known omnichain protocol is Layerzero.

Group : Scalability

Appchain
This is essentially a blockchain specifically customized for a particular application or protocol. Such an option offers more customization options than regular dApps.

Parachain
A type of blockchain in which security is provided by a central relay chain rather than a proprietary consensus mechanism. The term is commonly associated with Polkadot and Kusama networks, in which multiple parachains run in parallel. The key advantage of the model is that it allows multiple blockchains with different capabilities and purposes to operate simultaneously and interact on a common network.

Sidechain
Sidechains are separate independent blockchains linked to the core network and allowing tokens or digital assets to be transferred between them. A sidechain has its own token, protocol, consensus mechanism, and security. Projects that have implemented sidechains include Polygon, Gnosis, and Skale.

Superchain
An Optimism concept that is an interconnected network of layer 2 blockchains built on OP Stack. This single network shares security, communication layers, and development stack, making deployment of new networks as easy as deploying smart contracts.

Hyperchain
Same as above, but from zkSync (a modular framework for creating Hyperchains (Hyperchains) rollups) (and accordingly, with zk rollups instead of optimistic rollups).

Are educational articles of interest to you?

- YES
- NO

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2023-07-17 22:33:07 #Bitcoin

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2023-07-17 20:41:10 The National Bank of Australia said it had blocked payments to "high risk" crypto exchanges worth more than A$270 million over the past four months, citing the risk of fraud. Platform names are not disclosed. Westpac, Commonwealth Bank of Australia and ANZ have taken similar steps.

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2023-07-17 10:32:32 Multichain is over
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The other day the final episode of another drama, which was closely followed by the whole crypto world, was released. Let's see how the life of the crosschain protocol Multichain came to an end.

The project team told how the collapse of their brainchild happened:

On May 21, 2023, Multichain's CEO was arrested. Chinese police dragged Zhao Jun out of his home and he has not been in contact with the Multichain team since then. All employees have lost access to the servers, because they don't have Jun's personal accounts. The police confiscated all computers, phones, hardware wallets and cid-phrases from the CEO;
Since the project's inception, all investor funds were under Jun's control, so the police now have them;
The team tried to keep the project running with the remaining access to some servers. At the request of authorities, the staff refrained from disclosing the arrest;
On June 4, Jun's family allowed Multichain team members to fix technical problems with Router2 and Router5. This is what was causing the glitch.
All this time, Jun's family and his lawyer have been in contact with the police. The team was not told about the progress of the case, but were promised that Zhao Jun would be free soon. They were asked to continue maintaining the system;
On July 7, users' money was withdrawn from the site, and two days later, Jun's sister transferred the remaining money to two left addresses. The network began to talk about a possible rug pull;
On July 13, the sister was also arrested with unclear charges. In total, police seized ~$220 million from the project.

The team announced the closure of the Multichain project and asked customers to stop using their product.

Did law enforcement detain them for nothing? - I highly doubt it, there are many more "interesting" things, and it is not profitable for the team to share these "interesting" things, so they tell about the situation in a one-sided way.

After that, there is no doubt that any project, despite its capitalization, can be involved in dubious stories, which will later lead to its collapse, after the arrest of the CEO of the project, the coin MULTI began its rapid downward flight, and after the final news about the arrest of 220 million, has finally fallen into the red zone and there is no chance that the project will continue its existence.

Do you trust new crypto projects ?

- NO
- YES

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2023-07-15 23:22:20 The latest news on stablecoins
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The European Banking Authority has published "guidelines" for issuers of stablecoins under the MiCA regulatory framework

The document urges companies to prepare their business to comply with the legislation approved on April 20, which will come into force on June 30, 2024.

"The statement is intended to encourage timely preparatory actions for MiCA to mitigate the risks of potentially disruptive and abrupt business model changes at a later stage, as well as to promote convergence with supervisors and ensure consumer protection."

Under the regulator's proposal, "stablecoin" issuing organizations would need to:

Provide full disclosure to customers

Present a public business model

Establish an effective management system, including risk management

Establish a redemption mechanism and have sufficient reserves

Register with the EBA

The agency noted that the recommendations for issuers are still voluntary.

At this time, Tether decides to issue an additional billion tokens

Tether's CTO has tried to calm worried crypto investors agitated by the issuance of 1 billion USDT based on the TRON and Efirium networks

According to a spokesperson for the issuing company, "this is just a reallocation of liquidity."

In response to a post by the Whale Alert account, which warns of large-scale cryptocurrency movements, Paolo Ardoino wrote that the issuance of 1 billion USDT has been approved, but the tokens themselves have not yet been released.

These stable coins, according to the top executive, will serve as a reserve for requests to issue steyblocks and transfer tokens between blockchains.

The issuance of 1 billion USDT based on Tron showed the popularity of steiblockcoin on the Tron network and high demand - since Tether issued a large volume of tokens in advance.

USDT capitalization is growing at a faster pace. Over the past three months, the indicator has risen by $2.6 billion. At the same time, the main competitor, USDC, capitalization fell by $4.6 billion.

Is external control from the government a good thing for stablecoins?

- NO
- YES

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2023-07-14 18:46:33 BREAKING: BlackRock's CEO, Larry Fink, expects #Bitcoin to transcend every international currency due to broad-based worldwide demand!

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