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Should Bitcoin be afraid of Kim Jong-un’s death?

Against the background of the latest rumors about the possible death of the leader of North Korea, the participants of the crypto community recalled that the DPRK owns cryptocurrency reserves worth about $670 million. As is commonly believed in the crypto community, the reserves of bitcoin and other cryptocurrencies in North Korea amount to about $670 million, […]

The post Should Bitcoin be afraid of Kim Jong-un’s death? appeared first on BitcoinerX.

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Against the background of the latest rumors about the possible death of the leader of North Korea, the participants of the crypto community recalled that the DPRK owns cryptocurrency reserves worth about $670 million.

As is commonly believed in the crypto community, the reserves of bitcoin and other cryptocurrencies in North Korea amount to about $670 million, and possibly more. Now, representatives of the crypto space involuntarily thought about the further fate of these assets. The reason for this was the rumors about the death of DPRK leader Kim Jong-un that was actively exaggerated in the world media.

According to this Bitcoin Era review, the technology that most crypto companies use is always very similar, especially when it comes down to incorporating AI into these frameworks. Should the cybercrime stop from the DPRK is Kim Jong Un’s death is confirmed, many crypto companies are expecting a large burden of accusations to be removed from their names.

We can remember that the first fears on this topic began to appear after April 15, when the Korean leader missed the most important state holiday – Day of the Sun celebrated in honor of the birthday of Kim Il Sung, the “eternal President of the Republic” and grandfather of Kim Jong-un. Subsequently, rumors only multiplied, and, according to the latest conspiracy theories, the head of the DPRK died or was in a coma as a result of an unsuccessful heart operation.

DPRK and cryptocurrencies

If these rumors still turn out to be true, serious geopolitical upheavals may await North Korea. Due to the country’s loss of current stability, the queue may reach the cryptocurrency reserves of the DPRK. First of all, the crypto community fears potential aggressive sales by Korea of these assets.

The history of the relationship between Pyongyang and digital assets has always attracted public attention because of the DPRK’s love of cybercrime. The United States has long accused Pyongyang of creating special hacker groups to attract funding to the country, bypassing international sanctions.

In December last year, the FBI announced the arrest of one of the Ethereum developers, Virgil Griffith, who allegedly conducted an educational program in the DPRK to help Korean authorities better use blockchain technology to circumvent sanctions.

According to UN Security Council estimates, as of August 2019, the number of cryptocurrency funds stolen by North Korea since 2015 amounted to about $2 billion. It is difficult to say what reserves the country owns now, but a number of experts believe that Pyongyang may be one of the cryptocurrency whales. If all these assets are set in motion (of course, in the case of the confirmation of the death of Kim Jong-un), the consequences may be felt by the entire crypto community, such commentators fear.

Why is that?

However, many refuse to consider this idea seriously. Most of the answers to this alarmed Twitter post came down to the fact that such a scenario of aggressive cryptocurrency sales by Pyongyang is absurd and will never be realized.

So, the popular crypto community trader Alex Krüger replied that the DPRK also owns a large stock of uranium mines. Does this mean that the death of Kim Jong-un will also provoke uranium sales, he asks a counter-question. Other pranksters joined him, also predicting sales of fish and even beautiful women.

However, in fairness, it should be noted that comparing bitcoin with uranium ore is incorrect, since the first is a digital one, and the second is a physical asset that needs transportation.

Be that as it may, it is unlikely that the DPRK, even in the case of a change of leader, will suddenly decide on such a radical step as getting rid of all its cryptocurrency reserves – unless it is brought to a state of extreme despair and will be in dire need of cash. And, finally, most likely, all these arguments are purely hypothetical, and leader Kim Jong-un is still alive today of all living things.

Source: https://bitcoinerx.com/opinion/should-bitcoin-be-afraid-of-kim-jong-uns-death/

Blockchain

EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead

EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead

Rate this post Elrond is described as a part of the technology ecosystem for the new internet, including, fintech, decentralized finance, and even the Internet of Things. Elrond platform is capable of performing 15,000 transactions per second, with a latency of six seconds. Let us look at the technical analysis of EGLD. Past Performance On September 16, 2021, EGLD started trading at $241.89. As of September 22, 2021, the closing price of EGLD was $230.51. Thus, in the past week, the EGLD price has decreased by roughly 4.90%. And, in the last 24 hours, EGLD has traded between $202.34-$241.99. https://www.tradingview.com/x/iqVxlFYS/ EGLD Technical Analysis The EGLD price is in a regression trend, which is trading in an upward direction. The price takes support from the support line of the trend and bounces back to the mid-range level. Currently, the price is trading near the mid-range and its long-term resistance level. As per the Elrond market behavior, we can expect it to give a breakout from this range.  Let us see what the indicators are indicating: Currently, EGLD is trading at $240.83. The price has increased from the opening price. Thus, we can witness some bullish momentum in the EGLD token. However, on the chart, we can see that the price is trading in an upward direction. A breakout can be on the horizon. On the daily chart, the MACD and Signal lines are in the positive zone. Moreover, by forming a bearish crossover by the MACD line over the Signal line. Thus, the overall market momentum is bearish, and we can expect the EGLD price to fall. However, both the lines are close to the zero lines and may change signs soon. Thus, there may be a trend reversal on the horizon. The RSI indicator is at 57%. It is currently resisting itself to move upward. Thus, the buying pressure can be seen mounting slowly. Hence, we can expect the price to rise again after a few hours. Day-Ahead and Tomorrow The EGLD price has fallen below the Fibonacci pivot point of $250. As some of the oscillators have shown bullish signals, we can expect the price to rise above the Fibonacci pivot level of $249.35 soon. A breakout from this level will highlight the next resistance at $273. The price has tested and fallen below the 23.6% FIB retracement level of $249.37. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. Furthermore, the price can retest the support level at $202.87.

The post EGLD Technical Analysis: Breakout of Price Beyond $240.83 Seen, Bullish Day Ahead appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Elrond is described as a part of the technology ecosystem for the new internet, including, fintech, decentralized finance, and even the Internet of Things. Elrond platform is capable of performing 15,000 transactions per second, with a latency of six seconds. Let us look at the technical analysis of EGLD.

Past Performance

On September 16, 2021, EGLD started trading at $241.89. As of September 22, 2021, the closing price of EGLD was $230.51. Thus, in the past week, the EGLD price has decreased by roughly 4.90%. And, in the last 24 hours, EGLD has traded between $202.34-$241.99.

TradingView Chart

EGLD Technical Analysis

The EGLD price is in a regression trend, which is trading in an upward direction. The price takes support from the support line of the trend and bounces back to the mid-range level. Currently, the price is trading near the mid-range and its long-term resistance level. As per the Elrond market behavior, we can expect it to give a breakout from this range.  Let us see what the indicators are indicating:

Currently, EGLD is trading at $240.83. The price has increased from the opening price. Thus, we can witness some bullish momentum in the EGLD token. However, on the chart, we can see that the price is trading in an upward direction. A breakout can be on the horizon.

On the daily chart, the MACD and Signal lines are in the positive zone. Moreover, by forming a bearish crossover by the MACD line over the Signal line. Thus, the overall market momentum is bearish, and we can expect the EGLD price to fall.

However, both the lines are close to the zero lines and may change signs soon. Thus, there may be a trend reversal on the horizon.

The RSI indicator is at 57%. It is currently resisting itself to move upward. Thus, the buying pressure can be seen mounting slowly. Hence, we can expect the price to rise again after a few hours.

Day-Ahead and Tomorrow

The EGLD price has fallen below the Fibonacci pivot point of $250. As some of the oscillators have shown bullish signals, we can expect the price to rise above the Fibonacci pivot level of $249.35 soon. A breakout from this level will highlight the next resistance at $273.

The price has tested and fallen below the 23.6% FIB retracement level of $249.37. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well. Furthermore, the price can retest the support level at $202.87.

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Source: https://www.cryptoknowmics.com/news/egld-technical-analysis-breakout-of-price-beyond-240-83-seen-bullish-day-ahead/

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Blockchain

Bitcoin.org Hacked, Showing Sign of “Double Return Bitcoin” in Gift Scam


Bitcoin.org, an open-source and peer-to-peer platform focused on bitcoin development, was hacked this Thursday morning by showing bitcoin’s giveaway activities. (Read More)

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Bitcoin.org, a peer-to-peer (P2P) and open-source platform focused on bitcoin development was hacked this Thursday morning by showing bitcoin’s giveaway activities.

Starting at about 05:44 UTC on Thursday, a sign of “This website cannot be accessed” displayed on the Bitcoin.org website.

After that, an aside window popped up on the Bitcoin.org homepage, asking users to deliver Bitcoins to a dedicated address with an attached QR code and address, and claimed that it would be returned in double in the future.

The news stated that the campaign was targeted at the bitcoin foundation to give back to the user community that it has always supported and was limited to the first 10,000 users.

Bitcoin.org is not affiliated with the Bitcoin Foundation, but the site often appears when users search for bitcoin on search engines.

At present, the direct URL of the website cannot be accessed, and other subpages cannot operate normally.

The user is promised a doubled false promise through false gift fraud after transferring encrypted assets to this wallet address, causing the user to lose the transferred bitcoin.

According to the data on the chain, the receiving address has received 0.4 BTC in the past few hours, with a total value of more than $17,700.

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Source: https://Blockchain.News/news/bitcoin.org-hackedshowing-sign-double-return-bitcoin-gift-scam

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Bitcoin, Ether, or XRP – The crypto of choice for terror funding is…

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It has been a tense time for Coinbase. The crypto-exchange recently felt the regulatory squeeze when the United States SEC reportedly threatened to sue if Coinbase launched its high-interest crypto product – Lend.

These developments, however, haven’t stopped the exchange from highlighting its efforts towards compliance. A recently-released Twitter thread is a case in point.

The crypto-exchange yesterday shared statistics about cryptocurrencies’ link to global terrorism, and what it is doing to combat the threat.

Coinbase investigates

Cryptocurrency’s “links” to terrorism are a major reason behind the FUD among international policymakers and regulators.

And yet, a report by Coinbase’s Special Investigations Team found that “illicit activity” made up less than 1% of all activities in the crypto-space in 2020. This was an observation arrived at after looking at the BTC, ETH, LTC, BCH, and XRP blockchains or ledgers.

About terrorism, the report stated,

“Further breaking down illicit activity, we find that transactions associated with terrorist financing (TF) in 2020 made up less than 0.05% of all illicit volume. As such, terror funding in cryptocurrencies remains extremely low in overall terms.”

It’s worth noting, however, that the report identified the Palestinian militant group Hamas as having raised the most funds among terrorist organizations.

Do terrorists have any preferences?

According to the said report, Hamas has collected more than $750,000 in Bitcoin since 2018. After Hamas, the Saudi-led jihadi activist movement has raised more than $250,000 in Bitcoin and altcoins. In third place, came an Al Qaeda-related exchange service.

Source: Coinbase Blog

Bitcoin was the most prominent crypto in terrorism financing, but the report also identified the growing popularity of altcoins such as XRP and Ether.

Bitcoin’s popularity could be due to its status as the biggest crypto and the coin’s relative stability. Meanwhile, XRP’s use case is similar to the cross-border hawala remittance practice common in Middle Eastern and South Asian cultures.

In order to stop terror funding campaigns, Coinbase claimed it would “blocklist” crypto-addresses related to such institutions, use its analytics, and work with agencies like the FBI.

Analyzing Hamas

Put simply, the Palestinian organization aims to destroy Israel. It has two main components – A military force and a social welfare arm.

In 2020, Chainalysis reported how the organization’s Izz ad-Din al-Qassam Brigades (AQB) launched multiple campaigns to raise Bitcoin donations. Their tactics included instructional videos for both basic and experienced tech users, as well as unique payment addresses for every donor.

While crypto-terror funding is a small part of the vast DeFi sector, traders can expect to see more exchanges and companies keeping a watch on organizations classified as terror groups.

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Source: https://ambcrypto.com/bitcoin-ether-or-xrp-the-crypto-of-choice-for-terror-funding-is

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