Binance sued for allegedly facilitating money laundering ...

The next XVG? Microcap 100x potential actually supported by fundamentals!

What’s up team? I have a hot one for you. XVG returned 12 million percent in 2017 and this one reminds me a lot of it. Here’s why:
Mimblewimble is like Blu-Ray compared to CD-ROM in terms of its ability to compress data on a blockchain. The current BTC chain is 277gb and its capacity is limited because every time you spend a coin, each node needs to validate its history back to when it was mined (this is how double spending is prevented). Mimblewimble is different - all transactions in a block are aggregated and netted out in one giant CoinJoin, and only the current spending needs to be verified. This means that dramatically more transactions can fit into a smaller space, increasing throughput and lowering fees while still retaining the full proof of work game theory of Bitcoin. These blockchains are small enough to run a full node on a cheap smartphone, which enhances the decentralization and censorship resistance of the network.
The biggest benefit, though, is that all transactions are private - the blockchain doesn’t reveal amounts or addresses except to the actual wallet owner. Unlike earlier decoy-based approaches that bloat the chain and can still be data mined (XMR), Mimblewimble leaves no trace in the blockchain, instead storing only the present state of coin ownership.
The first two Mimblewimble coins, Grin and Beam, launched to great fanfare in 2019, quickly reaching over $100m in market cap (since settled down to $22m and $26m respectively). They are good projects but grin has infinite supply and huge never-decreasing emission, and Beam is a corporate moneygrab whose founding investors are counting on you buying for their ROI.
ZEC is valued at $568m today, despite the facts that only 1% of transactions are actually shielded, it has a trusted setup, and generating a confidential transaction takes ~60 seconds on a powerful PC. XMR is a great project but it’s valued at $1.2b (so no 100x) and it uses CryptoNote, which is 2014 tech that relies on a decoy-based approach that could be vulnerable to more powerful computers in the future. Mimblewimble is just a better way to approach privacy because there is simply no data recorded in the blockchain for companies to surveil.
Privacy is not just for darknet markets, porn, money launderers and terrorists. In many countries it’s dangerous to be wealthy, and there are all kinds of problems with having your spending data be out there publicly and permanently for all to see. Namely, companies like Amazon are patenting approaches to identify people with their crypto addresses, “for law enforcement” but also so that, just like credit cards, your spending data can be used to target ads. (A) Coinbase is selling user data to the DEA, IRS, FBI, Secret Service, and who knows who else? (B) What about insurance companies raising your premiums or canceling your policy because they see you buying (legal) cannabis? If your business operates using transparent cryptocurrency, competitors can data mine your customer and supply chain data, and employees can see how much everyone else gets paid. I could go on, but the idea of “I have nothing to hide, so what do I care about privacy?” will increasingly ring hollow as people realize that this money printing will have to be paid by massive tax increases AND that those taxes will be directly debited from their “Central Bank Digital Currency” wallets.
100% privacy for all transactions also eliminates one HUGE problem that people aren’t aware of yet, but they will be: fungibility. Fungibility means that each coin is indistinguishable from any other, just like paper cash. Why is this important? Because of the ever-expanding reach of AML/KYC/KYT (Anti-Money Laundering / Know Your Customer / Know Your Transaction) as regulators cramp down on crypto and banks take over, increasingly coins become “tainted” in various ways. For example, if you withdraw coins to a mixing service like Wasabi or Samourai, you may find your account blocked. (C) The next obvious step is that if you receive coins that these chainalysis services don’t like for whatever reason, you will be completely innocent yet forced to prove that you didn’t know that the coins you bought were up to no good in a past life. 3 days ago, $100k of USDC was frozen. (D) Even smaller coins like LTC now have this problem, because “Chinese Drug Kingpins” used them. (E) I believe that censorable money that can be blocked/frozen isn’t really “your money”.
Epic Cash is a 100% volunteer community project (like XVG and XMR) that had a fair launch in September last year with no ICO and no premine. There are very few projects like this, and it’s a key ingredient in Verge’s success (still at $110m market cap today despite being down 97% since the bubble peak) and why it’s still around. It has a small but super passionate community of “Freemen” who are united by a belief in the sound money economics of Bitcoin Standard emission (21m supply limit and ever-decreasing inflation) and the importance of privacy.
I am super bullish on this coin for the following reasons:
Because it doesn’t have a huge marketing budget in a sea of VC-funded shitcoins, it is as-yet undiscovered, which is why it’s so cheap. There are only 4 Mimblewimble-based currencies on the market: MWC at $162m, BEAM at $26m, GRIN at $22m, and EPIC at $0.4m. This is not financial advice and as always, do your own research, but I’ve been buying this gem for months and will continue to.
This one ticks all the boxes for me, the only real problem is that it’s hard to buy much without causing a huge green candle. Alt season is coming, and coins like this are how your neighbor Chad got his Lambo back in 2017. For 2021, McLaren is a better choice and be sure to pay cash so that it doesn’t get repossessed like Chad!
  1. A https://www.vice.com/en_us/article/d35eax/amazon-bitcoin-patent-data-stream-identify-cryptocurrency-for-law-enforcement-government
  2. B https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs
  3. C https://www.coindesk.com/binance-blockade-of-wasabi-wallet-could-point-to-a-crypto-crack-up
  4. D https://cointelegraph.com/news/centre-freezes-ethereum-address-holding-100k-usdc
  5. E https://www.coindesk.com/us-treasury-blacklists-bitcoin-litecoin-addresses-of-chinese-drug-kingpins
  6. F https://www.youtube.com/channel/UCWkTxl5Z6DNN0ASMRxSKV5g
  7. G http://epic.tech/whitepaper
  8. H https://medium.com/epic-cash/epic-cash-on-uniswap-22447904d375
  9. I https://epic.tech/wp-content/uploads/2019/09/figure-3.1.jpg
Links:
submitted by pinchegringo to CryptoMoonShots [link] [comments]

r/Bitcoin recap - May 2019

Hi Bitcoiners!
I’m back with the 29th monthly Bitcoin news recap. (sorry a bit late this month)
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in May 2019
Adoption
Development
Security
Mining
Business
Research
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Crypto News Recap for the week ending August 3rd

Developments in Financial Services

Regulatory

General News

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Bitcoin Rallies Higher, Binance Bullish, XRP Resistance, Bold BTC Forecast & Ironic News Of The Day Cardano Shelley Begins, Unlimited Easing, Binance Mining, BitFinex Pulse & Be Careful Binance.us app is ready for Android Users ! Took 500 dollar profit from Gochain baby Bitcoin Follows Stocks, New Crypto Rankings, $1.1 Billion In BTC, Stimulus App & New Binance Fiat Rushing To Buy Bitcoin, Binance Vs Ethereum, Libra Kitties, Bitcoin DeFi & BTC Oil Company Fund Criminals w/ BITCOIN!? Huobi & Binance EXPOSED! Bitcoin Hit $9,500, Bull Run Hype, Infinite Money, 50% Of Ethereum, XRP Remittance & EOS + Bitcoin All In On Bitcoin, Futures Soar, Stellar + Ledger, Ethereum Inflation, XRP Sales Down & Binance DDoS Amazon may partnership with Bitcoin, Binance Adds Usd, Coinbase buys Earn.com

Using Bitcoin for money laundering is one of the most alarming activities reported by the researchers. Buyers are paying only 12 cents on the dollar to newbie criminals to launder funds. Head of ... Earlier this month, the crypto industry saw what is perhaps the most comprehensive crypto money laundering sweep in its history, as law enforcement officials arrested 33 criminals worldwide. Fisco is accusing Binance of helping launder $9 million in cryptocurrency, and is seeking compensation for these alleged losses. The plaintiffs maintain that Binance had the power to identify and stop the stolen assets due to the traceable nature of blockchain. A significant portion of the case document seeks to demonstrate why Northern California is the proper jurisdiction for suing Binance ... Trying to Launder Loot from Bitcoin Hack Under the Radar. According to a report by blockchain forensics firm Clain, the hackers who stole more than 7,000 BTC from Binance are trying to use Chipmixer to funnel their crypto loot. An excerpt from the report reads: We detected an extensive pool of Chipmixer’s addresses in the course of the previous investigations and can confidently maintain ... One of the ways you have to pay using Bitcoin in Amazon is by acquiring Amazon gift cards and pay with Bitcoin. One of the platforms that allow users to acquire Amazon gift cards and pay with Bitcoin is Bitrefill. This is a good way for you to start acquiring goods on Amazon paying in Bitcoin or money. A group of cryptocurrency users filed a new lawsuit against Binance. Plaintiff; He claims that Binance users are using the exchange to launder Bitcoin and that is Binance’s responsibility. A cryptocurrency exchange in Japan called Zaif was hacked in 2018 and $ 60 million worth of cryptocurrency was stolen from the exchange. The owners of this ... Researchers Find New Way For Criminals To Launder Money Using Bitcoin Tyler Durden Sun, 09/06/2020 - 21:05 Authored by Robert Stephens via Decrypt.co, Criminals could use “Exclusive mining” to pass off their money laundering as Bit Japanese Crypto Exchange Accuses Binance of Helping Launder $9M From 2018 Hack. Sep 15, 2020 at 07:55 UTC Updated Sep 15, 2020 at 15:02 UTC. Binance CEO Changpeng Zhao (CoinDesk archives) Wolfie ... Japanese crypto exchange, Fisco, files a lawsuit against the largest crypto exchange, Binance, for allegedly helping hackers launder over $9 million in stolen funds from the former exchange in 2018.

[index] [17628] [15903] [1528] [23361] [987] [9533] [18892] [22770] [22214] [15243]

Bitcoin Rallies Higher, Binance Bullish, XRP Resistance, Bold BTC Forecast & Ironic News Of The Day

Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... Buying stuff on Amazon? Use this link to support my channel affiliate link( you pay the same and Amazon pays me) https://amzn.to/2OGbQif Get $5 by using my link Hey! I’ve been using Cash App to ... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q ----- My Second ... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... Are Chinese crypto exchanges like Binance helping criminal organization launder money through Bitcoin & cryptocurrency? Chainalysis, put out a report that shows Binace & Huobi are the two biggest ... Hello Guys, In This video we will disscuss about Amazon may partnership with Bitcoin, Binance Adds Usd, Coinbase buys Earn.com, Russia Bans Telegram, Crypto youtuber got hacked by 2 million ... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ...

#