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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: carranza2 who wrote (172325)5/24/2021 9:15:25 PM
From: TobagoJack  Respond to of 218847
 
ETH up 32% from my last buy

recovery on way

as cashflow-less as ever

but more worthwhile than yesterday

the book Fiat Money Inflation in France was correct, that speculation displaces commerce, and is wrong, that innovation is also shattering legacy

a toss up

and, no, I do not have confidence that all is well anywhere never mind everywhere



To: carranza2 who wrote (172325)5/24/2021 9:39:58 PM
From: TobagoJack  Respond to of 218847
 
ETH / BTC war

bloomberg.com

Suddenly Bitcoiners and Ethereans Just Swapped Talking Points

Joe Weisenthal

25 May 2021, 04:37 GMT+8

Everything’s getting weird in the crypto world. But to understand what’s going on, I want to go back to our recent podcast episode with Aaron Lammer, an Ethereum true believer, who was asked what he thought about Elon Musk going after Bitcoin over green concerns.

Tracy: OK. Just one more, but on a day like today, when, you know, Elon Musk tweeted, Bitcoin fell 16%. Although, you know, as we're recording this, it's pared some of those losses, but all the crypto coins, all the crypto-related stocks are all falling. What was today like for you? Like what did your yield-farming portfolio look like?
Aaron: You know, I honestly didn't even check like most of this yield stuff, just kind of happening in the background, I'll look and see how much I've made, but I'm looking more at the prices of the tokens than yields. I think that there are people who are just seeking yield out there, but those are people who have a lot more capital to start with than I do and are, like, not wanting to risk it, but want to just earn yield on like stable coins. I'm primarily holding Ethereum and other DeFi tokens. So when I saw that I actually was happy because I'm in Ethereum. I'm a true believer. And I believe that Ethereum will pass Bitcoin at some point. And I am fine with accelerating that if it can pass Bitcoin by going up or by Bitcoin going down. And I love the hostility and the space between the two camps. It's getting ugly out there.


So basically a couple of weeks ago, when Elon Musk went after Bitcoin and tanked the entire market, the reaction among (at least some) Ethereans was that it was good, because Ethereum has a plan to go green ( which Matt Leising wrote about today) and Bitcoin will always be proof of work (which is electricity intensive). So if proof of work becomes vilified, then that’s good for Ethereum in the long run, even if in the short run they all collapse. That’s the theory anyway.

Except now Musk is sounding warm to Bitcoin again, talking about his discussions with miners regarding renewable-energy mining in North America. Actually, the full context is that Michael Saylor, the Microstrategy’s chief executive officer, is convening a meeting between Musk and various miners. And note he specifically cites ESG considerations in the second tweet:



So now you have at least some Bitcoin industry leaders trying to make a point of sounding “green” or ESG-friendly.

What’s interesting, too, is that while Bitcoin leaders start to tout their green bonafides, the Ethereum world is starting to sound like hard-money types.

A lot of people are talking about this Packy McCormick blog post about upcoming changes to the Ethereum protocol, one of which includes a plan to slowly shrink the available number of coins out there.

Substance aside, this is part of the new Ethereum rhetoric:

But EIP 1559 and Eth2 flip that. With Eth2, new issuance to reward validators is expected to drop dramatically versus Proof of Work rewards. With EIP 1559, by burning ETH in every transaction, assuming a conservative amount of daily transaction fees and that 70% of the gas fee is burnt and 30% is sent as a tip, then more ETH will be burnt than issued every day. Together, the supply of ETH will actually begin decreasing after EIP 1559 and the Eth2 merge. It’s better than sound money. It’s Ultra Sound Money.

So you have Michael Saylor talking about ESG, and you have Ethereum bulls talking about “Ultra Sound Money.” Not sure what it means, but it sounds like the End Times.

Meanwhile, both Bitcoin and Ethereum are surging today after a horrible weekend. So for all of the ostensible disputes between the two camps, they still trade more or less in unison.

Before it's here, it's on the Bloomberg Terminal.
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To: carranza2 who wrote (172325)5/24/2021 11:34:16 PM
From: TobagoJack  Respond to of 218847
 
below is what I reckoned as well, but coin is not as energising as btc / eth

cointelegraph.com

Crypto stocks solve volatility issue, Goldman Sachs analysts say

Coinbase stock is the best way for investors to gain exposure to the crypto industry and avoid volatility, according to Goldman Sachs analysts.

48 minutes ago
Wall Street megabank Goldman Sachs has initiated coverage of United States cryptocurrency exchange Coinbase with a buy rating following a major crash on crypto markets.

In a note to clients on Monday, Goldman Sachs analyst Will Nance stated that Coinbase stock is the best way for investors to gain exposure to the crypto industry, CNBC reported. According to the report, shares of crypto companies like Coinbase should be regarded as a hedge against the parabolic volatility of cryptocurrencies like Bitcoin ( BTC).

“While we believe the core business today offers an attractive growth profile with the potential to drive new high levels of profitability, we see significant white space for new initiatives to drive more stable and recurring revenue streams to complement the core trading business over the longer term,” the analysts reportedly wrote.

In the buy rating for Coinbase shares, Goldman Sachs analysts set a 12-month price target of $306, implying a share price increase of 36%. However, Coinbase’s longer-term fate will depend on the continued success or failure of cryptocurrencies as an asset class, the client note reportedly reads.

Following the newly initiated buy rating, shares of COIN rose nearly 3.5% to over $235 in premarket trading. The stock debuted on Nasdaq on April 14 at a price of $381. The price rebound comes in line with a notable uptick on crypto markets, with Bitcoin surging more than 4% over the past 24 hours to trade above $37,400.

The latest buy rating is not the first time that Goldman Sachs mentioned Coinbase as a successful stock. In late April, Goldman Sachs mentioned Coinbase as one of 19 U.S. stocks performing significantly better than the S&P 500.

Previous reports in December 2020 suggested that Coinbase was looking to Goldman Sachs to handle its public filing.

The latest news comes shortly after Goldman Sachs reportedly launched Bitcoin derivatives trading to Wall Street executives in early May.



To: carranza2 who wrote (172325)5/26/2021 7:16:30 PM
From: TobagoJack  Respond to of 218847
 
tragic, but in any case a test for the different flavours of crypto money

decrypt.co

Norwegian Police Trying to Crack Monero and Dash in Missing Person Case

In the midst of a missing person case, Norwegian law enforcement is trying to break open anonymous cryptocurrencies Monero and Dash.

By Scott Chipolina

In brief

- Norwegian police are trying to crack privacy coins Monero and Dash as part of a missing person case.

- The privacy coins were reportedly used in connection with a ransom attempt in the kidnapping of Anne-Elisabeth Hagen.

Norway’s National CyberCrime Center is trying to pry open Monero and Dash—two cryptocurrencies known for their privacy-protection capabilities—amidst the search for missing person Anne-Elisabeth Hagen.

Police believe that the privacy coins were used in connection with a ransom attempt and that tracing these transactions could help lead them to Hagen’s whereabouts.

“I do not want to comment specifically on what we have done or are doing in the context of Dash and Monero, or what we have achieved,” police attorney Richard Beck Pedersen told Norwegian outlet VG. “But I can say that we have a hope that this track will lead to a result that is important for the investigation."

Pedersen added that at the moment, the privacy coins are causing investigators "the biggest challenges," noting that criminals are using cryptocurrencies such as Dash and Monero to throw police off their tracks. "It does not take a lot of expertise to make things very difficult," he said.

The disappearance of Anne-Elisabeth Hagen
The wife of one of Norway's richest men, property tycoon Tom Hagen, Anne-Elisabeth Hagen has been missing since October 2018 in what was suspected to be a kidnapping for ransom, according to The Guardian.

It is alleged that she had been kidnapped, as a ransom request was made shortly after her disappearance in October; roughly 90 million Norwegian Krone ($10.8 million) was demanded for Hagen's return, according to VG.

Norwegian authorities have traced records that indicate the suspected kidnappers had been planning the abduction well in advance.

According to VG, on June 28, the suspected kidnappers created a password-protected document containing two addresses for the cryptocurrencies Bitcoin and Monero.

The Bitcoin address was created purely for communication purposes, while the Monero address existed for the ransom payment.

In July, an email address created with a stolen identity was used to create accounts at Binance and KuCoin, two popular crypto exchanges. Then another account was created on crypto exchange Huobi, two days later, again according to VG.

A sum of privacy coin Dash was sent to the Huobi account, which was then exchanged for Bitcoin on July 10.

Months later, on October 31, Anne-Elisabeth Hagen was taken from her home in Norway and reported as kidnapped by her husband, Tom Hagen, who found the ransom letter on the same day Anne-Elisabeth disappeared.

The Guardian reported that police arrested Tom Hagen in April 2020 on suspicion of murder; Anne-Elisabeth remains missing.

Tracking privacy coins
Law enforcement organizations around the world have devoted considerable effort to tracking cryptocurrency transactions, including privacy coins.

In July 2020, a leaked FBI intelligence report revealed how the FBI had tracked dark web criminals laundering dirty Bitcoin by converting it into Monero. Later that year, crypto intelligence firm CipherTrace announced that it had developed a toolset for tracing Monero transactions, although CEO Dave Jevans conceded that "You can’t be as deterministic as Bitcoin […] In tracing Monero, it’s really more of a probabilistic game."

In January 2020, Europol's European Cybercrime Centre noted that one suspect had used a combination of Monero and the privacy browser Tor to render their transactions untraceable.

While the cat-and-mouse game between cybercriminals and law enforcement continues, regulators have turned their attention to exchanges. As a result of "behind-the-scenes conversations" with regulators, crypto exchange Coinbasehas held back on listing Monero; last year, Monero developers and privacy protocol Tari Labs released a whitepaper to let exchanges know how they can list the cryptocurrency while retaining regulatory compliance.