# banks # central # central bank # cryptocurrencies # data center # make # peace # power
Last week the cryptocurrency community was hit with an open plea from capital markets researcher Ben Hunt, who recommended that Bitcoiners quit trying to use blockchains for currency and, citing a relevant biblical story, “render unto Caesar what is Caesar’s.” We disagree. After a decade of goose-chases spanning most of the Middle East, we doubt Western governments are eager to risk conflict (again) with a force they can’t pinpoint and don’t understand. Today, the financial minister of Malaysia showed another way forward, declaring that while cryptocurrencies are still legal in the country, new coin offerings must be approved by the country’s central bank. The central bank is releasing its own political fundraising platform with a native coin called Harapan. Unlike the dubious Venezuelan Petro coin, which is “backed” by unrecovered commodities, the Harapan coin is solely used for campaign donations–a clear and reasonable use-case for a government scrip.
Allowing other activities to be denominated in third-party coins is perhaps the wisest “division of labor” we’ve seen between soverign and third-party currencies; as a model of regulatory discretion, the Harapan platform is one to watch.
“’It is not that we wish to obstruct (cryptocurrency) as we are keeping an open-mind. gas to liquid But it is still subject to existing laws. Do not try to do something without guidelines from Bank Negara and commit something against the law,’ he said at the Dewan Rakyat today…. gas tax deduction On Nov 13, Federal Territories Minister Khalid Abdul Samad said that the paperwork and presentation on the government-backed cryptocurrency, Harapan Coin, has been prepared and will soon be presented to BNM and Prime Minister Tun Dr Mahathir Mohamad.” Other news
“According to a class-action lawsuit filed in the US district court for Northern California, Bitmain has been taking advantage of its customers the past couple years in an interesting way: mining crypto for itself, using their resources, during the “initialization” process.
You read that right. According to at least one Bitmain customer and bitcoin miner, who is filing a suit for damages in excess of $5 million on behalf of miners everywhere, the initial period during which a miner is in its owners’ possession is spent mining for Bitmain’s benefit.”
“Stepping back, Mao said there are multiple factors that contributed to the shakeout among miners, including the recent market decline that followed the bitcoin cash hard fork on Nov. 15; an increase in electricity costs in China; and the fact that Chinese manufacturers are still racing to upgrade their products, making older machines increasingly uncompetitive.
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“My theory is that some entity held a lot of BCH on Binance pre-fork and is now in control of most of the supply. That allows them to perform a professional Pump and Dump, where they first wash trade the price up by selling BSV to themselves back and forth, at increasingly higher prices. Further motivated by coverage on social media, retail investors FOMO into the pump. At the height of the pump, the original holders distribute the coin to retail and liquidate their position.
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“Major stock benchmarks in the U.S., Europe, China and South Korea have all slid 10% or more from recent highs. Crude oil’s tumble has dragged it well into bear-market territory, emerging-market currencies have broadly fallen against the dollar, and bitcoin’s price—which had a meteoric rally last year—crashed below $5,000 last week for the first time since October 2017.
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“Indeed, under the guise of a multi-billion dollar development contest, Amazon successfully convinced the mayors and governors of 238 North American cities and regions to voluntarily surrender a treasure trove of information ranging from future infrastructure projects to land use patterns and everything else in between—all without being charged a dime.
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“Since 2015, we have conducted a web census to study third-party online tracking. gas or electricity more expensive Each month, our bot visits the web’s 1 million most popular sites and records data pertaining to user privacy, including cookies, fingerprinting scripts, the effect of browser privacy tools, and the exchange of tracking data between different sites (“cookie syncing”).”
“This sort of law enforcement hacking is likely to become more common. At the end of 2016, the Justice Department amended Rule 41, one of the rules around search warrants. The change meant that US judges could sign warrants to search computers outside of their district, and in particular, if law enforcement did not know where the suspect was ultimately located—exactly the issue with these two cases.
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“Decentralized storage has the ability to empower the technology community in new ways. grade 9 electricity By creating a more affordable storage platform for companies, developers and individual users, we expect we will see many use-cases that were once deemed too expensive become a reality.
Unlike centralized cloud storage providers, decentralized storage platforms don’t have to invest $600M in a new data center, pay for expensive fire suppression systems, or repave the data center parking lot. Those cost savings are passed along directly to users.”
“”To understand the implications of financialization for the price of bitcoin, the gold market provides some hints. Financialization of gold goes far back to the 1600s, when bankers first began to issue gold-denominated banknotes.
A banknote typically promised its holder the ability to redeem one ounce of gold. Thanks to the rarity of customer redemptions, however, bankers soon discovered that they only needed to keep a fraction of that amount in reserve. Consumers were more than happy to hold these banknotes in place of coins.”
““Here, too, the flaw in the model will be obvious to even a novice central banker.
The issuer’s ability to service the bonds depends on the growth of the platform, which is not guaranteed. If the outcome becomes less certain, the price of the bonds will fall.
v gashi 2013 More bonds will then have to be issued to prevent a given fall in the value of the coin, making it even harder to meet interest obligations.””.
