3 May

Great article – recommended read.

“The post-WWII Bretton Woods economic order is coming to a close. The following aims to provide a roadmap for how a potential socio-economic reset may play out. [see article for full details]

  • Stage 1: Deflation
  • Stage 2: (Hyper-)Inflation
  • Stage 3: Bretton Woods-style Systemic Reset:
    • New Global Reserve Currency
    • Debt Jubilees
    • Universal Basic Income (UBI)
    • Expedite ‘Fourth Industrial Revolution’ (4IR) Technologies

Ultimately, the coming societal upheavals present an opportunity to lay the foundations for a transition to a new socio-economic paradigm.”

“[Vitalik stated that] the current testnet participation sees around 100,000 ETH issued a year. The current Ethereum network has about 4.7 million ETH issued annually. Eth 2.0 issuance meanwhile is expected to be somewhere between 100,000 and 2 million a year, with the most likely scenario being that it will be much less than 2 million.

Buterin also mentioned that the total circulating supply could see a net reduction at times of high transaction volumes due to a portion of each fee being burnt.

One of the reasons why we’re doing Proof of Stake is because we want to greatly reduce the issuance.”

See Also: Buy Bitcoin to Escape Fiat ‘Debasement’ Says New Grayscale Report

“It sounds nice to be able to directly target cash injections into, let’s say, all small restaurant owners’ accounts. But a government that gives can also take.

What if an administration decided to inject money directly and seamlessly into your competitor’s bank account? Imagine Republicans targeting clean energy companies and abortion clinics or Democrats targeting gun manufacturers. Every credit or debit on your account would be subject to the ballot box or, worse, the bureaucrat.

Such a system also completely unshackles the government printing press from any reserve requirements. That would allow the government to impose, say, negative rates only in certain politically disfavored geographies.

A national bank with virtually limitless power and resources is a huge deterrent to the free market and an even larger temptation to autocrats.

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“iFinex Inc., Bitfinex’s parent firm, applied for subpoenas in Colorado, Arizona and Georgia this month, asking federal courts to aid it in deposing banks that may have held funds for Crypto Capital, the payment processor on which Bitfinex stored customers’ and exchange funds.

Bitfinex is looking for evidence to support its legal claims to about $880 million held in bank accounts in Poland, Lisbon, London and elsewhere that have been seized by authorities pursuing anti-money laundering criminal charges against Crypto Capital.

The president of Crypto Capital, Ivan Manuel Molina Lee, was arrested by Polish authorities in October and charged with being a member of an international gang laundering up to 1.5 billion złoty or about $390 million “from illegal sources.” Authorities wrote that Molina Lee’s crimes included ‘laundering dirty money for Columbian drug cartels using a cryptocurrency exchange.'”

China’s Digital Currency: DCEP

See Also: April Ethereum Update w/Anthony Sassano (Video)

“Any user opening a new tab or window in the browser is clearly presented with the new Binance widget along with the Brave rewards widget on the right side of the page.

They are then prompted to connect the widget to their Binance account, and once authenticated can view their held assets and trade to their heart’s content.

As the widget is built directly into the browser it preserves user privacy, and will only communicate with the Binance API through authenticated user interaction.”

DAPOL allows entities to undergo a distributed audit of their liabilities. Had Mt. Gox users had access to a similar tool, perhaps, its downfall could have been avoided.

For example, a crypto exchange could use it to let the community audit its liabilities. It could also be used for “negative” voting cases, such as transparent reporting of negative online reviews or reporting of offensive content in social networks.

We believe there are numerous domains where DAPOL could be useful, including blockchain wallets, finance, e-voting, economic data, and even public health.”

Investors holding the platform’s security tokens will have access to a percentage of the company’s earnings. The offering aims to raise one million euros in a public offering and four million euros in private.

ArtID reportedly already hosts over 1,000 artworks, and has supported the purchase of 6,000 artistic and limited edition photographs. Luxembourg-based tokenized investment platform STOKR is hosting the offering.”

See Also: OmiseGO’s Parent Company Changes Name to SYNQA

“Sztorc has provided a Drivechain sidechain template and challenged developers to do a “code transplant” from ZCash. Drivechain is an implementation which allows for the creation of Bitcoin sidechains with a true two-way peg.

The prize fund is to encourage developers to investigate his Drivechain technology, and create a proof-of-concept for further testing.”

“Tether CTO Paolo Ardoino told CoinDesk there is significant interest from hedge funds and professional traders in using Tether Gold to diversify their portfolio with gold.

Within the last few weeks, as lockdown measures have partially lifted, ‘more than 50 gold bars have been delivered and sold through Tether Gold.’

Inventory gets bought really quickly after each delivery of gold bars into the vault.”

“According to a report by Bitcoin (BTC) crypto exchange, CoinCorner, Google Ads was running an ad for CoinCorner’s phishing clone website, CoinCornerr.com.

The Isle of Man-based crypto exchange [itself] has been restricted from advertising on Google Ads since Google put a blanket ban on crypto ads back in 2018.”