Within the last few hours Bitcoin (BTC) price plummeted as the U.S. Commodities and Futures Trading Commission (CFTC) charged BitMEX with facilitating money laundering and operating an illegal cryptocurrency derivatives exchange. An even larger shock occurred as authorities announced the arrest of Samuel Reed, one of the co-founders of BitMEX. BitMEX has been the most dominant Bitcoin futures exchange for a long time, at least until March 2020 when the massive $1 billion Black Thursday… Source link

Some time ago, one of the more thoughtful critiques of Bitcoin went a little like this: “Sure, bitcoin is scarce in its supply, but since it’s effectively costless to clone the software and fork it, it’s not scarce overall. Forks constitute effective dilution and render the Bitcoin system’s commitment to a hard cap irrelevant.” This wasn’t altogether a terrible point. For a moment in 2017, it seemed like Bitcoin was being forked on a weekly basis. I’ll confess to feeling a twinge… Source link

Key Takeaways David Burkett, the lead developer behind the integration, released a closed testnet version for LTC.  The final integration with LTC mainnet is not expected until next year.  Burkett is planning to propose a MimbleWimble (MW) proposal for Bitcoin as well.   Share this article The much-anticipated privacy upgrade for Litecoin edges closer as the launch of its MimbleWimble testnet is now live. It is a limited test version accessible only to developers, with mainnet… Source link

In brief: Monero (XMR) more than doubled in value in Q3, 2020 The Monero Oxygen Orion Network upgrade is scheduled for Oct. 17th XMR seems set to retest the $120 resistance area in the days to follow and due to the pending upgrade As the crypto-community was busy with DeFi on the Ethereum network and the market analysis of Bitcoin, the digital asset of Monero (XMR) has gained substantial value in the past three months. At the beginning of the third quarter of this year, Monero (XMR) was valued… Source link

(Photo by Yuriko Nakao) Getty Images Yesterday I was in shock, today I am wearing my Bitcoin socks. Free money is real. It is enough to shake my faith in reality that after knowing for the bulk of my life there was no such thing as free money, I just received a chunk. Now it’s actually, totally naive to believe there is no such thing as free money because the vast majority of people in this world get just that. The breadwinners are a small proportion of… Source link

A lot of crypto investors like to think of bitcoin as a bet on higher inflation, or as a futuristic hedge on some imagined economic-armageddon scenario – Gold 2.0, as they say. Lately, it’s looking more like Gold 2x: As bitcoin heads into the final months of 2020, the largest cryptocurrency’s 2020 investment returns are twice those of the yellow metal.  Bitcoin gained 50% in the nine months through September versus gold’s 25%, during a year when a global pandemic ravaged economies… Source link

IRS has granted Integra FEC LLC and Chainalysis contracts worth more than $1.2 million in total to crack Monero.  The first advance of the project has to be delivered within 8 months, according to the contract. Chainalysis and Integra FEC LLC have been selected by the U.S. federal government’s Internal Revenue Service (IRS) to track Monero (XMR) transactions. A few days ago, the federal agency offered a $625,000 contract for companies to submit proposals for the development of a tool to… Source link

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Bitcoin (BTC) may see a price boost this week as the U.S. dollar currency index (DXY) weakens and one analyst tells American voters to buy. Data showed DXY dropping for a fourth day on Oct. 1, as negotiations over a new coronavirus stimulus deal continued in Washington. Vays: “Buy Bitcoin” no matter who wins the U.S. election DXY and BTC/USD have demonstrated a strong inverse correlation in recent months. Recent DXY gains did not translate into intense selling pressure for Bitcoin, but… Source link

The Internal Revenue Service is splashing out $1 million as it attempts to find a way to trace transactions made using the privacy coin Monero. Monero is one of the hardest privacy coins to trace (Photo: Monero) Crypto intelligence firm Chainalysis and the data analytics company Integra FEC will each receive an upfront payment of $500,000 so they can begin developing their proposed tool. If their technology subsequently passes rigorous testing and is approved for wider use, the… Source link