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Why Privacy Coins ? because bitcoin is not a solution anymore

Why you ask are Privacy CoinsRead More →

The post Why Privacy Coins ? because bitcoin is not a solution anymore appeared first on Crypto Core Media.

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Why you ask are Privacy Coins under attack after so many years? because bitcoin was once the privacy solution dream we all had for freedom. Today with millions of dollars being spent on Blockchain Analysts by government bodies of all kinds, we see that bitcoin can be private if users follow privacy practices at home such as using VPN’s, Tor, I2P, Secure Operating Systems, Firewalls, etc.

Most people do not even know that their privacy is compromised once sending a coin from one exchange to another. We are all learning quick and if bitcoin the prototype of all chains cannot do it for people then we need a solution that gives people financial privacy protections in cryptocurrency transactions by default. Pirate Cryptocurrency has privacy by default and a community team that focuses on protecting the user unlike so-called privacy coins like Zcash. They even built an operating system to make the most anonymous coin and the most secure coin in crypto even more private for you the user. 

With the enhancing understanding of cryptocurrencies, the question of exactly how to regulate them has been the primary centerpiece for regulators. Generally viewed as money for making illegal purchases, regulatory authorities have a feeling of seriousness to create stringent guidelines concerning their usage, traceability, as well as how they’ll be exhausted.

Each nation has its own controlling body pertaining to tax obligations, yet due to the United State’s influence on the rest of the world, the choices of the Internal Revenue Service held a good deal of persuading.

When Bitcoin was developed 10 years ago, the general suggestion behind it was to develop a form of digital cash that did away with all intermediary services. In other words, genuinely peer-to-peer money. Fast forward ten years and also Bitcoin, together with many various other altcoins, have produced an extensive splash on the planet of conventional controlled financial mediocrity. 

This upending of the status quo has sent out regulatory authorities with the IRS scrambling to figure out where cryptocurrencies lie. Are they a financial investment? A property? Spendable cash? Do they represent resource gains? Should they be a Security? These are all questions still being disputed, and also yet, the IRS in addition to significant exchanges such as Coinbase case that you carry out, in reality, owe taxes on them.

Because of the total absence of quality, customers will certainly be much better protected if they guard their digital wealth, firstly, prior to also thinking about paying the IRS and their rash digital currency tax obligation strategy.

The Very Best Blockchain to Anonymize Your Crypto

When it concerns keeping your crypto wealth undamaged, there isn’t a better option for anonymizing your accounts than with a purely privacy-oriented cryptocurrency. After cycling via the code and each blockchain’s major anonymizing features, Pirate Chain attracted attention among the remainder.

Pirate Chain defeated better-known money such as Monero, Zcash, PIVX, Komodo, and also Zen Cash money. Although Pirate Chain is based on Zcash and also Komodo, it executes its own distinct functions that permit it to shine in offering its customers total freedom.

Pirate Chain uses the state-of-the-art zk-SNARKs to obfuscate addresses when producing transactions. The cryptographic version allows for both ends (sender and receiver) to become totally confidential. This feature of privacy is finished all while allowing network consensus to validate the transaction and also enter it into its journal; all without ever compromising its customers.

Although Zcash was the initial to bring zk-SNARKs to the remainder of the crypto community, they failed to only enable personal purchases. Instead, most customers on the Zcash blockchain use the public send out address, which is inherently not private.

An additional primary concern is that most of the exchanges that hold Zcash already stated that they will not make use of protected (personal) addresses to keep users anonymous. Pirate Chain, on the other hand, will just allow confidential deals; consequently never ever compromising its customers financial privacy.

Recently, Coinbase has actually provided tax letters, worrying lots of movie critics as well as drawing conclusions that Coinbase is, as a matter of fact, attempting to keep themselves in excellent standing with regulatory authorities. Surprisingly sufficient, Zcash is a provided crypto on Coinbase, and also although the very first to clarify zk-SNARKs, the exchange has actually currently revealed they will not honor protected addresses.

This also comes with a time where there are lots of blockchain evaluation groups that have been contracted by firms such as the IRS as well as other regulatory and also financial establishments. These firms are used to compile data on crypto individuals, and also to properly match public wallet addresses with individual recognition.

This breach of trust is only another reason in a long list of why blockchains such as Pirate Coin are necessary. Making use of a privacy-based cryptocurrency doesn’t mean you have anything to conceal, it just implies that you hesitate to allow a regulatory body to control your digital wealth.

It can just be thought that agencies such as the IRS will continue as well as step up their initiatives to tax obligation individuals on their crypto holdings. Whether you feel that this is underhanded due to crypto’s decentralized as well as stateless nature, or if you assume that the Internal Revenue Service needs to formulate a better understanding of digital properties clearly, it’s best to remain anonymous to safeguard your hard-earned electronic riches.

How to Guard Your Digital Wealth Against the IRS

First, you will want to obtain Pirate Chain tokens (ARRR) on a digital exchange. The only exchange providing a pair with BTC or KMD is Digital Price and quickly to be Crypto Bridge DEX. As soon as you’ve traded your BTC or KMD for ARRR, you might now download the Pirate Chain Purse.

Alternatively, you can begin mining ARRR promptly using a GPU or ASIC miner. Block benefits are 256 ARRR with a new block happening every 60 seconds.

As soon as you’ve acquired ARRR by getting or extracting, you can currently send it to your indigenous Pirate Chain Budget. You can download and install any kind of variation from https://pirate.black/. As soon as you’ve downloaded and installed the Agama or KomodoOceanQT wallet, you can run it in Pirate indigenous setting.

Alternatively, if you wish to be a more protected pirate using the latest version of GhostShip which is PirateChain’s newest operating system provides tons of security for the individuals’ end. Such as Drive file encryption, Tor, VPN’s, MAC Address Spoofing as well as more. Plus the blockchain loads in 2 mins without having to wait for the chain to sync.

Currently, you prepare to negotiate completely confidential funds with Sapling addresses. This means that your electronic wide range is safe and secure due to the fact that you are the only person that recognizes its location address.

No longer will blockchain analysis teams have the capability to trace your electronic motions. The Internal Revenue Service will certainly additionally be not able to declare that you hold any type of digital crypto because you have successfully made it go away.

Up until the launch of Pirate Chain, lots of customers were attempting to anonymize their cryptocurrencies via bitcoin mixers as well as peer-to-peer networks such as LocalBitcoins. These services have essential defects that don’t properly resolve the issue of total privacy. The reasons being because of settlements through debit/credit cards or due to pure aggravation as well as a lack of count on.

Eventually, the safest approach to secure your digital wide range versus the IRS is by making it vanish. Pirate Chain has revealed that it can effectively do what other blockchain systems have failed to do. By creating a strictly private-send only cryptocurrency, Pirate Chain has actually shown that its main focus is keeping its users anonymous.

Source: https://cryptocoremedia.com/privacy_coins/

Blockchain

Tron, Augur, Maker Price Analysis: 16 January

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TRX moved within a fixed channel as momentum rested with neither the market’s bulls nor the bears. Augur looked to claw back to the $21.6-mark, but a boost from market leaders BTC and ETH might be required to make the ascension possible on the charts. Finally, MKR looked to break above $1,563 and targeted a move closer to its record high levels.

Tron [TRX]

Source: TRX/USD, TradingView

Tron revisited the $0.029-level after bouncing back from $0.027. However, the crypto’s price failed to break above its immediate resistance and traded between $0.029 and $0.031 over the past couple of days. The next few trading sessions could see the price trade back and forth between the aforementioned channel, since the indicators remained neutral and did not specify a breakout in either direction.

The Awesome Oscillator was bullish-neutral and showed a balance between the buying and selling pressure. A bullish outcome could see the index rise above the equilibrium-mark, while the price could look to target the $0.032-resistance level.

The Bollinger Bands were converging at press time and highlighted low volatility in the crypto’s price. This hinted at the possibility of TRX trading between its present channel moving forward.

Augur [REP]

Source: REP/USD, TradingView

Augur looked to climb back towards the $20-mark at press time as the price rose by over 3% in 24 hours. A rise above the press time resistance could confirm a bullish trend, while the price could look to target the $21.6-mark after doing so. However, a broader market rally might be required to push REP towards the aforementioned levels as the indicators were bullish-neutral on the crypto-asset moving forward.

The MACD was on the verge of a bullish crossover, but the momentum could shift either way as the bars on the histogram seesawed at the equilibrium mark.

The Chaikin Money Flow stabilized above zero and hinted that capital inflows could prevent the price from moving lower on the charts. However, it also suggested that an external impetus would be needed to boost the price beyond its upper ceiling.

Maker [MKR]

Source: MKR/USD, TradingView

After scaling to a record high of $1,999, Maker cooled down and fell below several key levels till it found support at $1,153. The price rose once again from this level, but the gains were capped at the resistance level of $1,563. However, sellers might struggle to keep the price below its current resistance as the indicators were largely bullish for MKR.

If the Stochastic RSI continues its upward trajectory into the overbought zone, the price could break above its immediate barrier and head close to record levels once again.

The Chaikin Money also confirmed the possibility of a bullish outcome as more capital was moving into the cryptocurrency.

Source: https://ambcrypto.com/tron-augur-maker-price-analysis-16-january

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Blockchain

Chainlink Price Analysis: 16 January

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

Chainlink looked to be strongly bullish on the price charts as it broke past its previous all-time high to touch $22.56. While the market-wide correction on 10 January saw LINK drop from $17 to $12.6, its recovery since has been extraordinary. In fact, a pullback to the confluence of support levels at $20 would be an ideal scenario for traders to enter or add to a long position.

Chainlink 12-hour chart

Chainlink Price Analysis: 16 January

Source: LINK/USD on TradingView

Using the double bottom formed by LINK in late December at $10.4 as the beginning of LINK’s ascent, both Fibonacci retracement levels (white), as well as Gann fan lines (yellow), were plotted. These lines gave some levels of support for LINK and projected upside targets.

A move past the ATH means that, on the longer timeframes, LINK does not have any resistance to the upside.

The surge from $14 did not yet show clear signs of an impending pullback, while the 27% extension projected an upside of $28 for LINK in the coming weeks.

In the event of a pullback, some areas of interest were highlighted where the price can expect a reaction. Further, LINK’s shorter timeframes showed a bearish divergence between the price and momentum, something that could contribute to a minor dip on LINK’s charts.

On the 12-hour chart, the RSI and the Stochastic RSI climbed into the overbought territory, but this was no evidence of an impending pullback. Rather, it pointed to the strength of bullish momentum behind LINK.

The first was the $19.8-$20 region. This region is a confluence of the previous ATH, as well as an area where the price stalled on the shorter timeframe, making it a former region of supply-turned-demand.

Beneath this line, there were the $18.89 and $17.5-levels of support, but there was no evidence yet to indicate a drop deep enough to test these levels.

The long-term outlook for LINK still remained strongly bullish at press time, and the next week or two could see LINK reach the projected $28-mark. For just the surge from $13.2 (The dip on 13 January) to $22.7, the 27% extension level gave a target of $26.

Source: https://ambcrypto.com/chainlink-price-analysis-16-january

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Blockchain

Ethereum competitor Near Protocol (NEAR) gains 106% as DeFi heats up

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Near Protocol (NEAR) is a smart contract platform that uses parallel processing to scale the network. This technique, known as sharding, resembles what Eth2 is aiming to achieve and Near’s proof-of-stake consensus mechanism also allows token holders to stake their coins. 

In the past month, NEAR has rallied by 107% and this raises questions on whether the project is making significant strides in what has become an ultra-competitive smart contract industry.

NEAR/USDT (Binance). Source: TradingView

Compared to its competitors, NEAR is a relatively new project as the mainnet only launched in April 2020. Unlike Ethereum, NEAR’s consensus mechanism works towards fee stabilization and according to its website, the protocol aims to accelerate the development of decentralized applications.

Interestingly, Near’s ICO took place four months after its mainnet launch. A possible reason for this is that the team raised $35 million in private funding rounds held in July 2019 and May 2020. Among its investors are Andreessen Horowitz’s a16z Crypto Investments, Pantera Capital, Electric Capital, and Ripple’s incubator Xpring.

Over the past three months, Near Protocols’ network activity has increased significantly and information on the Near Blog shows there are a couple of exciting applications already live.

Near Protocol daily number of transactions. Source: explorer.near.org

One is Berry Club, a yield arming app/game that lets players draw with pixels and earn collectible tokens. Another application called Paras also allows users to interact with a NFT digital art card marketplace.

DeFi integration accelerates

On Nov. 24, 2020, 1inch.exchange-backed project Mooniswap revealed their plan to build Automated Market Making (AAM) features on NEAR.The decentralized exchange’s aggregator is designed to roll liquidity and pricing from all significant DEXs into one platform.

Sergej Kunz, CEO and co-founder of 1inch, stated: “By building on NEAR, we’ll be able to experiment with sharding and be prepared for the arrival of Ethereum 2.0.

On Jan. 19, Crypto.com also intends to launch a new pool offering $250,000 worth of NEAR tokens at 50% below the market price. Clients will need to stake CRO tokens and also meet the set trading volume requirements on the exchange.

One area of concern is there are open questions regarding how the community treasury is governed. A substantial number of NEAR tokens are being managed by a handful of people who are not required to abide by clear guidelines and rules.

NEAR Twitter user activity vs. price (USD). Source: TheTie

Data from TheTie, an alternative social analytics platform, shows that the recent price spike was accompanied by increased social network activity. Nevertheless, transfers and transactions on the Near Protocol mainnet began only three months ago.

Compared to its competitors NEAR protocol appears to be in an early development stage. Effectively delivering the Mooniswap integration will likely be an important milestone for the project and if successful, NEAR token could possibly see further upside.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/ethereum-competitor-near-protocol-near-gains-106-as-defi-heats-up

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