The bitcoin rate on Monday swooped down, having lost about $ 10,000 at a stroke, but almost immediately went up again, stopping at $ 54,000. The reason for the fall was the words of the head of the US Treasury that
that Bitcoin is a highly speculative asset. It was also said that bitcoin is a highly inefficient way to conduct transactions, and the amount of energy consumed in processing these
transactions are staggeringly large.
By the way, Microsoft founder Bill Gates noted some time ago that he treats cryptocurrencies neutrally, but this is an invention the world could do without. Among the main disadvantages
bitcoins, Mr. Gates noted the connection with criminal activity. It also takes a huge amount of electricity to mine bitcoins, which could serve people. In addition, Bill Gates
noted that there is nothing real behind Bitcoin, no product or production. Currently, the fortune of Bill Gates, according to Forbes, is estimated at $ 124 billion.
At the beginning of February, scientists at Cambridge University calculated that more electricity is already being spent on bitcoin mining than the whole country of Argentina uses, and a little less of Norway and Ukraine. IN
In total, 121.36 TWh is spent on bitcoin mining per year. It is noted that those who invest in bitcoin underestimate the impact of this cryptocurrency on the environment.
At the same time, scientists note that if you turn off all inactive, but enabled devices in the United States, then bitcoin can be mined just within a year.
Some experts emphasize that the fact that Elon Musk bought bitcoins at Tesla for $ 1.5 billion multiplied by zero the effect of his electric vehicles that do not produce carbon dioxide. Moreover,
Tesla has received financial support from the US government for its contribution to the fight against greenhouse gas emissions. That’s right, just $ 1.5 billion.
The digital coin will be pegged to the ruble and will receive a fixed value. The bank has already submitted an application to the Central Bank for registering a blockchain platform.
According to the deputy chairman of the bank’s board Anatoly Popov, Sberbank submitted an application to the Bank of Russia to register its blockchain platform in early January, since digital financial assets in in accordance with the law can be released on a registered site. He also noted that the bank is technically ready to work with fiat currency and has successfully conducted internal testing.
According to the law, the registration procedure takes 45 days, during which the regulator will have to either register the site or provide comments on the project. If all goes well, then Sbercoin may “see the light of the market” in the spring of 2021. Nevertheless, Sberbank warned that the issue of taxation of digital financial assets has not yet been fully resolved, which means that in this a number of difficulties can arise.
Recall that the bank talked about its plans to issue cryptocurrency back in early August last year. Already at that time it was announced that stablecoin was chosen as the currency format – that is, having fixed cost, in this case ruble. As conceived by Sberbank, savings can become a digital bill of exchange and a convenient means of interbank settlements. However, the digital coin will be less subject to exchange rate fluctuations and is quite liquid due to the availability of the necessary infrastructure at the bank.
The draft law on digital assets and currencies entered into force on January 1, 2021, after which registration began. According to him, from now on, Russians have the right to buy digital counterparts of securities, and those, in turn, received legal status. Nonetheless experts fearthat at the first stage of the project on the introduction of a digital national currency, rates on bank deposits and loans may increase.
Despite the obvious connection with the digital ruble of the Central Bank, we are still talking about different areas and technologies. According to the regulator’s plan, the electronic currency will be stored on an electronic wallet, not will require access to the Internet, and will be able to combine the properties of cash and non-cash rubles, and will also receive a unique electronic number like ordinary banknotes. Sbercoin is more designed for financial assets and instruments of the bank, such as bonds, trade and business operations within the Sberbank ecosystem and between other market participants. The decision of the Central Bank, on the contrary, is more aimed at increased competition and lower costs of payment services and transfers.
According to the research analytical agency The Block Crypto, the currency seized by the PRC police from the illegal PlusToken crypto pyramid will be sold on the free market, and all profits from sales will go to the country’s budget. Analysts are inclined to believe that a one-time sale of such a large volume of crypto coins, which has not yet been seen on the market, can have an unpredictable influence on it, but most likely will not lead to a collapse.
The PlusToken multicurrency crypto project was launched in the spring of 2018 and aggressively promoted in the markets of countries such as China, Japan, South Korea, Myanmar, Vietnam, Germany, the United Kingdom and Russia. advertising the defunct crypto arbitrage trading platform. Users were attracted by the incredibly high return on investment of cryptocurrency assets – from 6% to 19% per month, by a promise attractive daily payments, as well as the ability to store almost all of the world’s leading cryptocurrencies in the wallet – Bitcoin, Bitcoin Cash, Ethereum XRP, EOSIO, Litecoin, Doge and Dash. For, in order to take part in the project, it was necessary to deposit a cryptocurrency wallet in an amount equivalent to $ 500 or more.
The project worked for a little less than a year. PlusToken was charged with fraud in March 2019 – signs of a pyramid investment fraudulent scheme (Ponzi) were found in its operation. promising investors maximum profitability with virtually no risk. The PRC police conducted searches at PlusToken’s offices in Hunan province, and the head PlusToken’s Chinese subsidiary, Chen Bo and five other Chinese citizens associated with the project fled and were put on a wanted list by the authorities.
It was possible to track the funds of the defrauded depositors thanks to a cryptocurrency transaction analysis service developed in St. Petersburg.
According to the Jiangsu Yancheng Intermediate People’s Court (PRC), from April 6, 2018 to June 27, 2019, the pyramid scheme attracted more than 2.6 million users. For this During the period, the scheme “absorbed” more than 314 thousand BTC, 117 450 BCH, 96 thousand DASH, 11 billion DOGE, 1.84 million LTC, 9 million ETH, 51 million EOS and 928 million XRP.
According to the most rough estimates, the value of these crypto assets was about 14.8 billion yuan, or $ 2.2 billion at the exchange rate for the specified period, or over $ 11 billion at the exchange rate at the end of November 2020. year (at the date of the trial).
In July, Chinese authorities arrested 27 key and 82 minor suspects in the creation of the crypto pyramid. To date, 15 people have been convicted in the PlusToken case. The court sentenced them to prison imprisonment for terms from two to 11 years and fines from $ 100 thousand to $ 1 million.
According to the judicial investigation, one of the inmates successfully laundered cryptocurrencies worth more than 145 million yuan ($ 22 million). Of this amount, the police have identified traces of about $ 19 million – convicts and their families spent them on luxury cars, about 20 real estate in China, and insurance policies in Hong Kong.
The PRC government managed to seize cryptocurrencies from the convicts for a total amount equivalent to $ 4.2 billion. For the first time, the court described in detail the size and value of all cryptocurrencies seized from the organizers financial pyramid – almost 200 thousand BTC, over 800 thousand ETH, 1.4 million LTC, 27.6 million EOS, more than 74 thousand DASH, 487 million XRP, 6 billion DOGE, 79 thousand BCH and 213 thousand USDT …
As the court ruled, the seized digital currencies will be processed in accordance with the laws, and the proceeds and proceeds will be confiscated to the national treasury of the Celestial Empire.
According to experts, the effect of selling such a large amount of cryptocurrencies can be unpredictable. But, most likely, you shouldn’t expect any major changes.
For example, Maria Stankevich, the director of development of the EXMO exchange, described the situation as extraordinary in an interview with the media. A one-time sale of cryptoassets for the indicated amounts can provoke market decline. But, most likely, the expert believes, the sale will be carried out on the OTC market, so there will be no serious effect. In addition, the crypto community can easily track all transactions on the blockchain and quickly learn about the sale of assets.
However, according to Maria Agranovskaya, a teacher at the Moscow Digital School, the consequences of the sale of assets of this size and even news about this can lead to a market collapse.
However, according to the co-founder of the STASIS digital currency platform Grigory Klumov, the PRC authorities are unlikely to put up such a significant amount of cryptocurrency confiscated for sale. Since bitcoin is already in may become an essential part of the financial system in the foreseeable future, the Chinese government will probably decide to keep the assets received.
The Discover Dash app helps you discover places to spend your Dash cryptocurrency when you shop on the go, wherever you are, right from your Android device! Search for specific services and business that accept Dash, or choose from a wide range of popular categories, such as, restaurants, Technology & IT, Dash ATMs, and many more.
The Discover Dash app gives you access to the Dash business directory, which is a world-wide directory of business & services that accept the Dash cryptocurrency for payment. It gives Dash consumers the entire directory to shop right on their Android devices, anywhere in the world. The free-to-advertise-on directory allows advertisers to increase their market outreach and advertise their services to the mobile-connected International Dash community, completely free!
The Discover Dash app is a collaborative project of Really Bad Apps LLC and Dash Force. We are very excited to release this cryptocurrency centric shopping app! This is because we believe that this one-stop resource for the Dash community to search and find businesses and services accepting the Dash blockchain technology, will only increase Dash business adoption. The result being that the international Dash community will become more useful, diverse, and more valuable as we move forward.
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Python is extremely important and popular these days. You can use Python for web development, data science, machine learning, utility scripts or your first steps into programming. OR you use it to build your own Blockchain.
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Ever wonder how blockchains work? Why is it that many popular blockchains are using Go? In this talk we will explore how blockchains work at a protocol level, what Go libraries you can use to interact with them. By the end of the talk you will be able to build your first Blockchain App.