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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

Kraken Daily Market Report for April 12 2021

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Overview


  • Total spot trading volume at $1.74 billion, up from the 30-day average of $1.34 billion.
  • Total futures notional at $555.7 million.
  • The top five traded coins were, respectively, Bitcoin, Tether, Ethereum, Ripple, and Cardano.
  • Strong returns from Uniswap (+25%) and Flow (+11%).

April 12, 2021 
 $1.74B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$59918. 
↓0.3% 
$641.7M
USDT 
$0.9994 
↑0.03% 
$317.0M
ETH 
$2135.2 
↓0.9% 
$216.1M
XRP 
$1.3753 
↑1.9% 
$126.6M
ADA 
$1.2994 
↑2.6% 
$84.1M
USDC 
$0.9999 
↑0.0% 
$46.7M
DOT 
$40.310 
↓2.6% 
$39.1M
LTC 
$245.33 
↓2.9% 
$34.7M
TRX 
$0.1331 
↑8.9% 
$33.3M
FLOW 
$37.468 
↑11% 
$30.6M
UNI 
$37.402 
↑25% 
$23.6M
FIL 
$166.62 
↓7.0% 
$18.9M
XLM 
$0.5751 
↓1.0% 
$18.6M
XDG 
$0.0712 
↓3.4% 
$17.9M
XMR 
$321.10 
↓2.8% 
$17.9M
LINK 
$32.707 
↓3.9% 
$12.3M
MANA 
$1.0822 
↑1.0% 
$11.5M
BCH 
$669.88 
↓3.0% 
$11.0M
SC 
$0.0266 
↓3.5% 
$9.87M
ALGO 
$1.4637 
↓4.1% 
$9.85M
GRT 
$2.0962 
↑9.6% 
$9.61M
AAVE 
$403.67 
↑8.4% 
$9.51M
ATOM 
$22.173 
↓5.6% 
$9.42M
KSM 
$428.66 
↓2.4% 
$9.33M
EOS 
$6.4521 
↓4.5% 
$7.34M
XTZ 
$6.2194 
↓3.5% 
$6.97M
ZEC 
$218.94 
↓1.5% 
$5.36M
DASH 
$277.71 
↓3.4% 
$4.59M
STORJ 
$2.4142 
↓0.7% 
$4.51M
DAI 
$0.9994 
↓0.03% 
$4.08M
COMP 
$446.04 
↓3.0% 
$3.75M
SNX 
$19.596 
↑3.0% 
$3.13M
ICX 
$2.6855 
↑4.2% 
$3.06M
OMG 
$9.6585 
↑0.3% 
$2.8M
BAT 
$1.4119 
↓2.1% 
$2.57M
KAVA 
$6.5938 
↓5.9% 
$2.53M
OCEAN 
$1.6560 
↓3.6% 
$2.42M
QTUM 
$14.663 
↓1.9% 
$2.27M
CRV 
$3.0164 
↓3.2% 
$2.18M
ANT 
$10.697 
↓4.6% 
$1.93M
NANO 
$5.6921 
↑1.4% 
$1.91M
KNC 
$3.5034 
↓4.6% 
$1.86M
YFI 
$42840. 
↓5.2% 
$1.68M
ETC 
$19.193 
↓5.8% 
$1.44M
OXT 
$0.7723 
↓3.9% 
$1.43M
WAVES 
$15.288 
↓2.2% 
$1.35M
REP 
$47.281 
↓4.1% 
$1.27M
LSK 
$6.4095 
↓6.1% 
$1.09M
KEEP 
$0.7189 
↓4.0% 
$1.07M
EWT 
$16.354 
↓4.3% 
$768K
MLN 
$85.518 
↓4.3% 
$674K
PAXG 
$1741.0 
↓1.0% 
$663K
BAL 
$51.182 
↓1.2% 
$600K
REPV2 
$46.957 
↓4.2% 
$367K
GNO 
$172.93 
↓0.03% 
$292K
TBTC 
$60697. 
↓0.8% 
$50.2K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (April 12 2021)



Figure 2: Mid-size trading assets: (measured in USD) (April 12 2021)



Figure 3: Smallest trading assets: (measured in USD) (April 12 2021)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (April 12 2021)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (April 12 2021)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (April 12 2021)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (April 12 2021)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.kraken.com/post/8612/kraken-daily-market-report-for-april-12-2021/

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Blockchain

Bitcoin Prepares For its Next Move: Where is the 100 SMA, the Key BTC Level?

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Bitcoin price is consolidating above the $59,500 support zone against the US Dollar. BTC is now showing a few positive signs, but it must clear $61,200 for a fresh rally in the near term.

  • Bitcoin is holding gains above the $60,000 and $59,500 support levels.
  • The price is now trading well above the $59,500 level and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $59,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to start a sharp upward move once it clears the $60,800 and $61,200 levels.

Bitcoin Price is Showing Positive Signs

Bitcoin remained in a range above the $59,000 level and it is showing a few positive signs. Recently, BTC made another attempt to clear the $61,200 resistance, but it failed.

It corrected lower and retested the $59,500 support level. A low is formed near $59,432 and the price is now moving higher. It is also trading well above the $59,500 level and the 100 hourly simple moving average.

There was a break above the 50% Fib retracement level of the recent decline from the $61,212 high to $59,432 low. There is also a key bullish trend line forming with support near $59,400 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Source: BTCUSD on TradingView.com

Bitcoin is now trading above $60,400, but it is facing resistance near $60,800. It is close to the 76.4% Fib retracement level of the recent decline from the $61,212 high to $59,432 low.

A successful break above the $60,800 level could open the doors for a move above $61,200. If the bulls succeed in clearing $61,200, the price could rally in the coming sessions.

Dips Limited in BTC?

If bitcoin fails to climb above $60,800 and $61,200, there could be a short-term downside correction. An initial support on the downside is near the $60,000 level.

The main support is now forming near the trend line, $59,500 and the 100 hourly simple moving average. If the bulls fail to protect the 100 hourly SMA, there could be a major decline. In this case, the price might decline towards the $58,000 level.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $59,500, followed by $59,000.

Major Resistance Levels – $60,800, $61,200 and $62,000.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/analysis/btc/bitcoin-prepares-for-next-move-61k/

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Blockchain

USDT, USDC, and BUSD represent 93% of stablecoin market cap

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Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap.

Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market.

By contrast, six months ago the combined stablecoin capitalization for those three was less than one-third of its current levels at $19.2 billion. This time last year, stablecoins were worth just $7 billion combined.

The analysis compared the growth of stablecoins with Bitcoin’s market cap, identifying a clear correlation between the two. The report also found that USDT’s supply has continued to increase during recent weeks despite BTC trending sideways, whereas growth for USDC and BUSD has slowed.

BTC market cap vs stablecoin supply: Glassnode

The report notes historic lows for its Stablecoin Supply Ratio (SSR) metric, which measures Bitcoin’s market cap relative to the total stablecoin supply to estimate the global “buying power” of the stablecoin sector.

When BTC prices are low, the supply of stablecoins can buy a larger portion of it to push prices up. Conversely, as prices increase the available stablecoins can purchase less which reduces the influence on prices. Glassnode concluded:

“The growth of stablecoin supplies throughout 2020-21 has held the SSR metric near historical lows suggesting a relatively high buying power of digitally native dollars. The demand for digital dollars appears to be keeping pace with demand for Bitcoin and cryptocurrencies as a whole.”

Tether’s market cap has over doubled since the beginning of 2021 to currently sit at a record $45.6 billion, according to the Tether transparency report. Circle’s website reported an all-time high of $11.5 billion USDC on April 9, while Goingecko estimated BUSD’s supply to be $5.1 billion on April 13.

On April 7, Circle CEO Jeremy Allaire predicted its USDC stablecoin could soon surpass PayPal by settlement value.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/usdt-usdc-and-busd-represent-93-of-stablecoin-market-cap

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