11 May

Bitcoin Halving Arrives: Mining Rewards Drop for Third Time in History

Miners produced the 630,000th block at 19:23 UTC on May 11, which triggered the programmed halving event, marking another milestone in the currency’s 11-year history. The first block in the new 6.25-bitcoin-per-block mining cycle was mined and relayed by China-based Antpool.

In an homage to Satoshi Nakamoto’s iconic “brink of a second bailout” message in the 2009 genesis block, f2pool, which mined the 629,999th block (the last before the halving), embedded a reference to the current financial crisis:NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan Far Exceeds 2008 Rescue.'”

See Also: The State of Bitcoin 2020 (Delphi Digital Research)

“The new contracts, the first futures contracts for the second-largest cryptocurrency by market cap in the U.S., will begin trading effective immediately, ErisX announced.

Starting today individual and institutional investors can access physically delivered futures contracts based on ETH-USD with monthly and quarterly expirations.

Physically-settled futures contracts deliver actual tokens upon expiry, rather than the fiat equivalent.”

See Also: Paradigm Researcher Unveils Fixed-Rate DeFi Lending Protocol

“Paul Tudor Jones II, a pioneer of the modern hedge fund industry, confirmed he has invested somewhere between 1% and 2% of his assets in bitcoin. Jones did not specify whether he invested in bitcoin futures or has custody of actual bitcoins.

We’re watching the birthing of a store of value, and whether that succeeds or not only time will tell.”

“A wholesale CBDC, restricted to a limited group of financial counterparties, would be largely business as usual. However, a retail CBDC, accessible to all, would be a game changer, so a retail CBDC is now our main focus.

We are currently looking into the legal questions raised by the potential use of intermediaries to facilitate the circulation of a CBDC and also the processing of transactions in a CBDC.

He acknowledged that the traceability of digital transactions would raise privacy concerns among a population used to paying for some things with paper notes.”

“In a world of inordinate tax evasion, trillions of dollars of laundered money around corruption and the drug trade, the last objective of government policy should be the promotion of anonymity with respect to large financial transactions.

His comments stand in contrast to those of fellow establishment figure Yves Mersch, a board member of the European Central Bank, who spoke sympathetically of the privacy concerns some have about potential digital versions of fiat currencies.

Some argue that a token-based digital currency might not guarantee complete anonymity. If that proved to be the case, it would inevitably raise social, political and legal issues.”

See Also: Leaders of the Digital Dollar Project Talk Privacy and the Next Century of Money
See Also: Zcash Alliance Aims to Bring Privacy Tech to Bitcoin, Cosmos and Ethereum

Permissioned systems are most vulnerable to insider threats. Exploiting such a vulnerability is easy when you know where the nodes are.

Most private blockchains have very few nodes and, in many cases, they all reside inside a single cloud infrastructure, creating a single point of failure. That also means that far from being immutable stores of information, they are in fact easy to erase or shut down. You just write a simple script and send it to the nodes.

The fact that most private blockchains don’t enjoy the attention of a broad blockchain community is also a weakness.

Open source code that isn’t widely used and doesn’t have a vigilant community testing and inspecting it is far less secure and reliable than systems like Bitcoin and Ethereum, which are continuously hardened by nearly constant attack and public inspection.”

“The plug-in, called Crypto.com Pay Checkout, lets buyers pay with crypto for their products on e-commerce websites running on Ecwid, which the company claims are more than 1 million.

While they can receive the cryptocurrencies directly, they can also avoid exposing themselves to volatility by letting Crypto.com convert the money to United States dollars or euros.”

See Also: Crypto.com Lands Record $360M Insurance Cover for Offline Bitcoin Vaults
See Also: Canadian Exchange VirgoCX Taps Ledger Vault for Custody, Insurance Support

‘Bitcoin and Friends’ Episode 5

“Real estate tokens have continued to post a positive performance for investors, gaining an average of 4.27% during April while top securities tokens suffered losses for the month.

The losses suffered across the security token sector were broadly driven by a 16.5% drop in the price of tZERO — which represents 43% of the total industry capitalization. Trade volume for tZERO fell by more than half.”

See Also: Looks Like the Loom Network Has Thrown in the Towel