Bundesbank rejects Bitcoin reserves; the Chainalysis “Crypto-Crime”Report; time scaling solution for Ethereum in sight; SEC from smashes Ripple reasoning, and Jack Dorsey launched the first Tweet as NFT.
Another exciting week in the crypto Space is about to end. The most important events around Bitcoin and co. in a compact Overview.
Bundesbank rejects Bitcoin reserves
The deutsche Bundesbank Bitcoin reserves refuses to clear. The is made from a Interview with a Board member Burkhardt courtship significantly. The touch of bankers expressed highly critical of the crypto-Primus. So Bitcoin does not meet the money function at all. The comparison with Gold is wrong, because the precious metals have an intrinsic value, which have survived over centuries. Gold offer at any time safety and liquidity, Bitcoin could not keep up with that. For these reasons, it is believe that courtship is extremely unlikely that the Bundesbank will ever build Bitcoin reserves. It was clear to him that a stable value of money is essential for an economy. Bitcoin could not guarantee that, with its high volatility reliable.
The change is also not due to the fact that BTC could look back on a continuous increase in value. It remains an object of speculation, in which up to a total loss of everything is possible. In addition, courtship was also a decision-making period in relation to the E-euros from the ECB through. So you can expect a decision from the early summer.
According to the Chainalysis report: “Illegal crypto transactions 2020 have fallen”
The new Crypto Crime report for the year 2020 for the analysis company Chainalysis shows that the proportion of criminal crypto transactions has been declining. The transfer volume of about 10 billion US dollars, which is a total of about 0.34 percent of all crypto-represented Transfers corresponded. Compared to 2019 (21.4 billion US dollars, up 2.1 per cent), this was a fall of 1.76%. The value will increase, in all probability, but still, have demonstrated in the past. According to the report, the shares of the various illegal crypto activities would have changed compared to 2019 hardly. So fraud and activity on the Darknet markets accounted for the majority of the illegal Transfers.
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The biggest Surprise of the year was a result of the third place: “Ransomware”, which is grown with a share of US $ 350 million to 311 per cent compared to the previous year. Also in the case of the financing of terrorism there has been a new maximum value. For the first Time grants for domestic extremists have been studied in the report, such as in the Wake of the storming of the Capitol.
Vitalik Buterin expects timely scaling solution for Ethereum
In a Podcast, Ethereum co-founder Vitalik Buterin was expecting a timely scaling solution for the crypto currency the transaction will contain up to the transition to the Proof-of-Stake method, at least some charges. Hopes rest on “Optimism”, a with the Ethereum Virtual Machine fully compatible Layer-2 solution of the eponymous crypto Startups. The focus of the developers so-called ZK Rollups, i.e., “Zero-Knowledge-methods”, the transfer of multiple transactions on a Sidechain, before they are bundled on the Mainnet in a settlement. Thus, the performance of Ethereum could be, according to Buterin-Blockchain is already to the hundred-fold increase. Accordingly, the Layer-2 solution could allow the Transaction throughput “on 1,000 to 4,000 transactions per second” rise, “depending on how complex these transactions are”. Buterin, according to investors will no longer have to wait at all for too long in-between solution. Therefore, you can expect “in about a month” with a functional crypto-solution to do the scaling problem, at least in the medium term, to forget.
Crypto litigation: SEC from smashes Ripple reasoning
The dispute between the Ripple and the Securities and Exchange Commission (SEC) in the next round. Shortly after Ripple CEO, Brad garlinghouse has requested that his lawyers a rejection of the SEC complaint, the U.S. securities and exchange Commission is now itself is active. In a legal Letter to judge Analisa Torres from the U.S. district court for the southern district of New York, the authority referred to Ripples defense strategy as “legally invalid”. The SEC asked the court to remove the “Fair Notice”defense of the crypto-Startups and upcoming applications of the executives to dismiss for failure to reject. SEC attorney Jorge Tenreiro, argues that the Blockchain company trying to be responsible for his unregistriertes XRP-offer to the authority to pass. Previously, Ripple defended himself, the SEC had failed to properly indicate that the XRP sales may be illegal. The back has the financial authority has now decided to ignorance Sagittarius is not a punishment, it says in the Letter to the court.
Twitter Boss Jack Dorsey launched NFT with first Tweet
The Hype around Non-Fungible Token is now also impose Twitter-Chef Jack Dorsey. The Entrepreneur auctioned the first Tweet of the story as NFT. Dorsey is already no longer as a friend of the crypto-Space. With the financial service providers to “Square” the 44-year-old has already invested millions in Bitcoin. Now, the Twitter Boss Recently shared a Link to a platform by the name of “Valuables”. There will be a Tweet from 2006 is available since then, with the contents of “just setting up my twttr” to the Offer. The highest bid was at the time of writing of Sina Estavi, the CEO of Bridge, Oracle, and stands at 2.5 million dollars.
In addition, it is now known, what is to be done with the proceeds. The would like to convert Dorsey initially in Bitcoin and then on “GiveDirectly” donations. This is an American charitable organization that uses electronic payment systems, in order to combat poverty by direct cash transfers to the needy people. The proceeds from the auction will then flow in Corona projects in Africa.