Digital Blog

The latest regulatory news from the Treasury Bureau sends a clear signal to domestic banks: they need not fear stablecoins

On Monday evening, Office of the Comptroller of the Currency of the U.S. Treasury officially declared that national banks are allowed to operate independent nodes for distributed ledger networks.

The OCC’s interpretive letter says banks „may use new technologies, including INVNs [Independent Node Verification Networks] and related stablecoins, to perform the functions permitted to banks, such as payment activities.“

In the face of considerable uncertainty about the future of stablecoins, the OCC’s announcement is great news. The bureau, however, warns that there are cyber risks inherent in the use of such technology:

„Banks must also be aware of the potential risks associated with conducting INVN-related activities, including operational, compliance, and fraud risks. New technologies require sufficient technological expertise to ensure that banks can manage these risks in a safe and sound manner.“

Brian Brooks, who previously led Coinbase’s legal team, has been the acting Comptroller of the Currency Bitcoin Superstar since May. During his tenure, the office has issued a series of directives authorizing banks to be more active in the crypto market and, more recently, preventing them from cutting services to businesses legally allowed to operate, including crypto businesses.

The industry’s main lobby, the Blockchain Association, pointed out:

„The letter states that blockchains have the same status as other global financial networks, such as SWIFT, ACH and FedWire.“

Those international payment mechanisms have faced stiff competition from blockchain payments in recent years.

The new guidelines follow up on what another group of regulators did just before Christmas, which set guidelines for stablecoin operators.

The topic of the legal status of stablecoins in the U.S. has taken center stage over the past month, especially after Congresswoman Rashida Tlaib introduced a bill that appeared to ban any operation conducted with stablecoins, including individuals who operate, for example, Ethereum nodes that process DAI transactions.

Social Capital CEO Chamath Palihapitiya har sølt noen bønner om sine dristige mål for denne Bitcoin-oksekjøringen i en serie med nylige tweets.

Når den største kryptovalutaen treffer $ 150 000, er milliardæren klar til å overta Hamptons, en klynge av strandlandsbyer og byer for velstående New Yorkere.

Palihapitiya planlegger å gjøre dyre bygninger om til søvnfulle sommerleirer for barn og opprette gårdsbruk.

Hamptons hjem slår rekorder

Dette ville være en ganske radikal transformasjon for de høytflygende Hamptons, som først og fremst er forbeholdt Wall Street-ledere og kjendiser.

Til tross for tankesalg i New York, blomstrer det faktisk eiendomsmarkedet på den østlige enden av Long Island. Det gjennomsnittlige hjemmet i Hamptons er nå 46 prosent dyrere på grunn av Manhattan-eliten på flukt fra byen.

Corcoran-konsernet anslår at den totale verdien av alle solgte eiendommer nådde svimlende 1,223 milliarder dollar i 3. kvartal 2020.

Dessuten har antallet boliger som er oppført for salg nå stupt 42 prosent, ifølge Elliman-rapporten.

Selv med Bitcoin som rammer så sprø tall, vil det være ganske utfordrende for Palihapitiya å ta over Hamptons.

Han har kanskje bedre hell på Mars.

En av de største Bitcoin-eierne

Palihapitiya – som begynte å hente overskrifter i år som kongen av SPACs – er også kjent som en av de største Bitcoin-eierne.

Fra og med 2014 hadde den tidligere visepresidenten for sosiale medier giganten Facebook minst 100.000 BTC (2,8 milliarder dollar ved pressetiden).

I september twitret han at han dimensjonerte Bitcoin-beholdningen.

Vitalik Buterin has revealed that Ethereum’s migration to Proof-of-Stake, or Proof-of-Stake, is unlikely to begin until at least November 2021.

The Ethereum Foundation also said that the shardings could be delivered fairly quickly

The proposed restructuring of the eWASM smart contract execution layer has, however, been put on standby for now.

The co-founder of Ethereum, Vitalik Buterin, revealed that the planned migration of Ethereum working proof (Proof-of-Work or PoW) the proof of issue (Proof-of-Stake or EPOS) should not take place before at least November 2021.

Buterin, along with other members of the Ethereum Foundation (EF) team, responded to a Reddit Ask Me Anything (AMA) session on November 17. During this session, it was also revealed that the Ethereum WebAssembly (eWASM) smart contract redesign proposal has been put on hold.

According to EF, the delay is simply due to the operational difficulty of the project compared to the potential benefits of rapid deployment.

No PoS for at least a year

When a user asked for a full timeline for Ethereum blockchain sharding and PoS migration, Mr Buterin explained that the former will likely be ready much sooner than the latter.

To reduce the risks of such a massive company, a launch date before November 2021 seems unrealistic:

Sharding can be done as soon as it’s reasonably stable, and I’d be happy not to wait too long to do so. […] For migration, I would say that less than a year is unrealistic. Although full implementation of migration fell from the sky in February, I would recommend that we wait until about November, to convince people that the PoS is safe. They would then feel comfortable to move to evidence of importance for the entire ecosystem of 50 billion becomes truly dependent Beacon Chain.

I highlight a comment I made yesterday in the AMA on Reddit that was buried but which I think expresses something important.

The fate of eWASM and other components of ETH 2.0

Users also asked EF’s Danny Ryan about the fate of other Ethereum 2.0 (ETH2) components, including the proposed framework for eWASM. Mr Ryan revealed that eWASM is currently not a priority when it comes to the development of ETH2:

One of the parameters certainly interesting to analyze a project and a blockchain, is the daily activity of addresses and even Bitcoin does not escape this logic.

The activity of addresses tells us if there is actually movement on a project and to what extent, since more addresses correspond to a solid and decentralized project.

From this we can understand that, once the price of Bitcoin Up reaches a certain level, 2 different and opposing situations are triggered: on one side who starts to sell the asset after months that the price was too low; on the other side we have the new users who decide to buy this asset before it is too late and too expensive.

You can extract very interesting data by looking at the number of BTC addresses, which allows you to predict with a certain margin how the asset will evolve even on the price side.

We will then take the data provided by Santiment to see on the one hand the number of active addresses and on the other the price of the asset.

A very interesting data is the one reached a few days ago with a real record of 1.2 million active addresses per day, that is addresses that have made at least one transaction and therefore made a transaction or incoming or outgoing.

Interesting to note how in the last 6 months the number of active addresses has grown and this is even more evident since the price of the asset has touched the threshold of 10 thousand dollars: in fact, from the chart it can be noticed that below that threshold, the activity of the addresses did not exceed the million of activity.

Bitcoin as an investment

Bitcoin has now lost its main function of being primarily a payment system and is seen primarily as a store of value.

This makes Bitcoin a pure speculative asset, since the mentality has become to recover the asset as a form of investment to buy at low price and then sell as soon as it reaches interesting figures.

Let’s not forget that in the last period the price of the asset has increased a lot and it is very close to reach the record figures of 2017.

Den globale kryptobørs Binance har netop frigivet sin seneste handelsrapport og analyseret tilstanden af ​​Bitcoin, Ethereum og altcoin-markederne.

Rapporten fremhæver Bitcoins dominans i oktober og begyndelsen af ​​november, som sprængte den (decentraliserede finansiering) DeFi-boble og skubbede prisen på mange kryptoaktiver lavere

”Kryptovalutaer med store capser som ETH, XRP, BCH, LTC og LINK leverede beskedne gevinster i oktober, men har undladt at bryde nye højder, da handelsaktivitet flyttede væk til Bitcoin. I mange måneder har altcoins været nøgledriveren til afkast for kryptohandlere.

Således er det ingen overraskelse, at altcoins synes at være ved at miste damp og uharmoniserede fra Bitcoins rally … Siden korrektionen i begyndelsen af ​​september har de fleste DeFi-tokens vist en fuldstændig vending og slettet 70-90% af deres gevinster. ”

Analytikere i Binance forventer nu, at Bitcoin går ind i en nedkølingsperiode efter sin pludselige burst til $ 16.000.

De peger på BTCs seneste konsolideringsområde i $ 10.000 til $ 12.000-regionen som et eksempel på, hvad der kan være næste for den førende kryptokurrency

Med hensyn til fremtiden for altcoin-markedet peger udvekslingen på den kommende lancering af Ethereum 2.0 som en potentiel katalysator for både ETH og altcoin-markedet generelt.

”Opgraderingen forventes at have en positiv indvirkning på ETH, da det vil øge netværkets kompatibilitet, skalerbarhed og sikkerhed betydeligt.

Derudover vil opgraderingen flytte Ethereums konsensusmekanisme til en bevisbevisstimulering, hvilket tilskynder investorer til at beholde og låse deres Ether op til belønning. Dette vil derefter reducere udbuddet af ETH-tokens, mens efterspørgslen fortsætter med at vokse sig stærk, da store investorer oversvømmer for at søge stabile gevinster …

I betragtning af disse katalysatorer kan opgraderingen trække ETH ud af den nylige nedgang og potentielt tilføre et mere positivt synspunkt i altcoin-sektoren. ”

Wat is er nodig voordat de Financial Times de nederlaag toegeeft?

De Financial Times houdt niet van Bitcoin . Of cryptocurrency . Of iets buiten de traditionele bankwereld. Dit is misschien niet verrassend gezien het feit dat de krant 132 jaar oud is en zich richt op een bepaald publiek, maar hoewel sommige van hun argumenten legitiem zijn, zijn ze af en toe zo afwijzend over een of andere aspecten van Bitcoin Code dat ze je herinneren aan de ‚ schreeuwt de oude man naar de meme van Bitcoin.

Bitcoin Halving Piece onthulde gebrek aan begrip

Een voorbeeld van zo’n voorbeeld is de ‚berichtgeving‘ van de Financial Times over de halvering van Bitcoin in mei . Op de halveringsdag bracht de krant een stuk uit dat het gesprek verwierp over de verlaging van de beloning die leidde tot een prijsstijging op de weg, ondanks dat de geschiedenis anders suggereert.

Nadat hij had toegegeven dat het deflatoire model „best handig“ was, ondermijnde de schrijver vervolgens zijn kennis van Bitcoin door de inherente schaarste ervan te koppelen aan de honderden Bitcoin-forks die er zijn:

… Er is geen schaarste in het aantal copycat-cryptocurrencies, wat het idee van schaarste in bitcoin ondermijnt.

Afgezien daarvan, bij het bespreken van de halvering, zat het stuk in de Financial Times vol spot met degenen die voorspelden dat de halvering opnieuw als prijskatalysator zou fungeren, met de grap: ‚De broeders lijken nog steeds te hopen dat de post-halvering , zal de prijs stijgen. „

Nou, de prijs is zeker gestegen – op de halveringsdag werd hij gewaardeerd op $ 8.500 en staat hij vandaag op $ 11.845. Dat is een stijging van 39%. Op traditionele markten zou dat zeker als een golf gelden, maar als we het over Bitcoin hebben, schuiven we dat gewoon onder het tapijt omdat het niet past in het verhaal, ja?

Financial Times zal altijd een excuus vinden om Bitcoin te verpletteren

De vraag wordt: op welk punt zal de Financial Times toegeven dat hun leedvermaak en scepticisme misplaatst is? Wat moet Bitcoin doen om uitstel te krijgen – recordhoogtes doorbreken, $ 100.000 bereiken, coronavirus genezen?

Het heeft zich hersteld van de marktcrash in maart met een waarde van 238% – als het echt zo’n waardeloos bezit was geweest als de Financial Times beweert, zou het zeker toen en daar zijn gestorven? En wat zal er gebeuren als de profetie wordt vervuld, als Bitcoin ’stijgt‘? Ze zullen een ander excuus vinden om het aan toe te schrijven, een andere manier om het te kleineren.

Markkinat kamppailevat, mutta Bitcoin pysyy vakaana.

Käytännöllisesti katsoen kaikki suuret kryptovaluutat ovat tänään punaisessa, kun viime yönä tapahtui äkillinen markkinoiden myynti

Kaikkien kryptovaluuttojen markkina-arvo laski yön yli 346 miljardista dollarista 339 miljardiin dollariin, mikä tarkoittaa keskimääräistä 2,1 prosentin tappiota kryptovaluutta kohti.

Vaikka suurin osa kryptovaluutoista on tänään tappiollista, Bitcoin Code on mennyt paremmin kuin useimmat, sillä se on menettänyt vain 1% viimeisten 24 tunnin aikana pudotakseen takaisin 10 610 dollariin. Suhteellisen vakauden seurauksena laskevilla salausmarkkinoilla Bitcoinin markkina-asema on parantunut jonkin verran viime viikkoina, ja se on parantunut 57,8 prosentista 58,7 prosenttiin viime kuussa.

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Bitcoin Cash (BCH) ja Bitcoin SV (BSV) ovat myös ylittäneet markkinat, menettäneet vain 0,6% ja 2% viimeisen päivän aikana. Polkadot (DOT) ja Chainlink (LINK) ovat tänään kymmenen parhaan salausvaluutan joukossa huonoin suorituskyky, ja ne ovat menettäneet 6,4% kappaleelta eilen. DOT: n kaupankäynnin arvo on nyt 3,81 dollaria, mikä on alin arvo elokuun lopun jälkeen, ja se on ollut laskusuuntauksessa 1. syyskuuta jälkeen – menettää 43,9% siitä lähtien.

Tämän viimeaikaisen hintatoimen jälkeen yhdeksän kymmenestä suurimmasta kryptovaluutasta markkina-arvon mukaan on tappiollinen BTC: tä vastaan, ja Polkadot on laskenut eniten viime viikolla, kun taas Chainlink on laskenut eniten viime kuussa.