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The Looming Threat of China

The Looming Threat of China: An Analysis of Chinese Influence on Bitcoin

In this paper, Ben Kaiser, Mireya Jurado, and Alex Ledger explore the real threat that China poses on Bitcoin, in numerous ways. Surprisingly, I haven’t seen much discussion on this topic online. Surely it has been obvious that China is the type of power that can dare to try to control anything in the world, even Bitcoin – the face of the Decentralization movement. Will China succeed? Here the abstract:

As Bitcoin’s popularity has grown over the decade since its creation, it has become an increasingly attractive target for adversaries of all kinds. One of the most powerful potential adversaries is the country of China, which has expressed adversarial positions regarding the cryptocurrency and demonstrated powerful capabilities to influence it. In this paper, we explore how China threatens the security, stability, and viability of Bitcoin through its dominant position in the Bitcoin ecosystem, political and economic control over domestic activity, and control over its domestic Internet infrastructure. We explore the relationship between China and Bitcoin, document China’s motivation to undermine Bitcoin, and present a case study to demonstrate the strong influence that China has over Bitcoin. Finally, we systematize the class of attacks that China can deploy against Bitcoin to better understand the threat China poses. We conclude that China has mature capabilities and strong motives for performing a variety of attacks against Bitcoin.

Bitcoin Dominance hits 10-week high

Decentralized Governance Struggles Continue to Validate Bitcoin

As the cryptocurrency bear market continues, EOS’s USD price is hovering around $6.65. The market’s display of trust (or lack thereof) in the existing models makes one think whether any of them are heading in the right direction as far as decentralized governance and finance are concerned.

Nick Szabo and Dan Larimer represent two different forces and schools of thought on governance. Szabo’s model seems to focus a lot more on trustlessness and seeks true decentralilzation through a self-run and self-governed AI, whereas Larimer’s EOS incorporates constitutional governance (that can resemble the founding of the USA, which evidently can go corrupt as the founders of the nation themselves anticipated and warned against).

Szabo does however favor Ethereum despite the fact that some believe it’s not truly decentralized because of the Ethereum hard-fork which took place after a consensus following the DAO hack.

In light of these observations, Bitcoin continues to shine as the one and only truly decentralized blockchain to date.

Perhaps with the further development and widespread deployment of the Lightning Network and second-layer dApps, Bitcoin can render all the other pseudo-blockchains useless.

One metric that supports this hypothesis is Bitcoin Dominance, which continues to climb the highest levels in 10 weeks. I would not be surprised if Bitcoin dominance continues to return to the 2017 levels and beyond.

 

Uzbekistan to Create Blockchain Center, Integrate Digital Currencies

Uzbekistan to Legalize Cryptocurrency, Create Blockchain Center for Innovation

The President of Uzbekistan Shavkat Mirziyoyev endorsed a decree to create a center for innovation, with a unit that will focus on the ways Blockchain technology can be used for innovation.

By June 2018, under the Mirzo Ulugbek Innovation Center, a Blockchain center will be formed, which will focus on using the distributed ledger technology to improve various, potentially outdated processes. The center will also focus on increasing the potential of new technologies, on supporting national blockchain developers, among other things, according to Uznews, a news outlet focusing on Central Asia.

The document was developed under the President’s Decree “on measures to further improve the sphere of information technologies and communications”.

The document also outlines that Uzbekistan will be actively developing and integrating payment systems, including international systems such as PayPal, Alipay, Visa, MasterCard, etc. A set of measures is said to be laid out by June 1, 2018.

Tesla Systems Hacked To Mine Cryptocurrency

Tesla’s Cloud Resources Hacked to Mine Cryptocurrency

Tesla, Inc. is an American company that specializes in electric automotive, energy storage and solar panel manufacturing based in Palo Alto, California.

The companies cloud resources were recently hacked to mine cryptocurrency. Redlock(cloud security company) says Tesla has joined the growing list of companies that have been subjected to what experts are calling crypto jacking. The practice of involving the theft of computer processing power to mine cryptocurrencies like bitcoin or Monero.

The hacker/hackers most likely achieved this feat by hiding the true IP address of the mining pool server behind CloudFlare, a free content delivery network (CDN) service. Tesla has yet to comment on the issue.

BTC tips: 3C5rBKYTNs564YmEEWheNy81a8DGRxCXWx

nazarbayev

The President of Kazakhstan Nursultan Nazarbayev announced the intention to create a cryptocurrency

The President of the Republic of Kazakhstan Nursultan Nazarbayev reveled an interest to create a world digital currency that will be based not on theoretical trust but rather will be secured by particular resources, will be democratic and transparent.

The new cryptocurrency will be called G-Global. “It will help the world get rid of monetary wars, black-marketeering and decrease volatility at markets,” Nursultan Nazarbayev said at the 10th Astana International Forum (AIF)

Upcoming 2018 Telegram ICO

7 Important Facts About the Upcoming Telegram ICO and Predictions for 2018

There is a lot of information about a potential upcoming Telegram ICO on the web lately. Usually this much info doesn’t just come around for no reason, and we can presume that this is a planned PR move, or a leak, but it’s unlikely that it’s fake.

The exclusive pre-ICO might happen as early as late January (this month), and the Crowd Sale late March.
Some important things to note:

dollars cash

Ripple Gets a Massive $20 Billion Sell Off Into Fiat

Ripple had a massive liquidation earlier today where it lost over $20 billion in market capitalization. The founders of Ripple made headlines and became some of the richest people in the United States because of Ripple’s pump over the past couple of weeks. Tons of XRP were sold off over the past day and the money doesn’t seem to have gone into Bitcoin or Alts, based on our analysis. Rather, it all went into Fiat. The founders, or the Ripple insiders had a massive cash out. Beware of this project and Coinoid strongly advises against investing in to it, especially using real cryptocurrencies like Ethereum or Bitcoin.