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‘LIGHTNING WAR’: BITCOIN BATTLES BITCOIN CASH ON A DIGITAL CANVAS

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A digital canvas dubbed Satoshi’s Place appeared online, allowing users to draw whatever they find fit, one pixel at a time. The MS Paint-like experience costs one Satoshi per pixel and users are free to show off their talent in whatever form they find fit.

CENSORSHIP RESISTANT DIGITAL CANVAS

Satoshi’s Place is a simple online artboard which is powered by the Lightning Network. The digital canvas is comprised of 1 million pixels and each one of them will cost you 1 satoshi to paint. Apart from providing wide leeway for users to express their fine art skills, it’s also intended to provide a way to experience the way micro-transactions are handled through the Lighting Network of Bitcoin.

Since the canvas is censorship resistant, anyone can draw virtually anything. What is more, all pixels can be re-painted. The combination of both has caused some unparalleled masterpieces such as Da Vinci’s Mona Lisa, as well as Van Gogh’s Starry Night.

However, the opportunity to write and draw whatever one wants has also provided means for one particular dispute: Bitcoin (BTC) VS. Bitcoin Cash (BCH).

BTC VS. BCH IN A FULLY-FLEDGED ART BATTLE

The fact that each pixel on the Satoshi’s Place canvas is re-paintable fuels the clash even further. Bitcoin supporters are taking the opportunity to have some fun, drawing offensive words and symbols on a painting of Roger Ver’s face, phalluses spitting BCH fire, and others of the kind. Ironically, though, BCH users who’d want to remove these offensive drawings or repaint them in something else would have to use the Lightning Network.

The result is obvious: the canvas is dominated by Bitcoin users who are taking advantage of the quick and cheap micro-transactions to draw whatever they virtually want.

However, while a lot of people find the entire thing incredibly amusing, there are also those who find it insensitive and downright childish.

Dick pics aside, the Satoshi’s Place project is proving to be a success in demonstrating that Bitcoin’s Lightning Network can indeed support a high volume of cheap and instant transactions.

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Ripple Prediction: XRP Could Reportedly Rally Against Bitcoin (BTC)

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According to the latest reports, Ripple’s digital asset XRP could be soon rallying against Bitcoin.

The token’s price has formed major support near 0.0000900BTC against BTC. XRP seems to be preparing for an upside break above 0.0000920BTC and 0.0000950BTC in the near term

XRP price analysis

During the past few days, there have been range moves below 0.0000920BTC in the price of XRP against BTC.

XRP to BTC has reportedly declined a few points below the 0.0000910BTC and 0.0000900BTC levels, but downsides were limited, says Etehreumworldnews.

They conclude by saying that XRP is definitely getting ready “preparing for the next crucial break either above 0.0000920BTC or below the 0.0000885BTC support. The current price action is positive, suggesting high chances of an upside break above 0.0000920BTC. If not, XRP to BTC could break the 0.0000885BTC support and trade towards the 0.0000850BTC or 0.0000840BTC level in the near term.”

What’s in the cards for Ripple and XRP?

XRP forecast regarding the price for 2019 looks positive especially considering that the coin’s price is somehow related to Ripple, the company’s developments.

Back in September 2018, XRP was able to surge by 300% triggering massive excitement in the Ripple and XRP community.

Since then, Ripple’s products became adopted by more banks and financial institutions, and today, for instance, RippleNet include about 200 members.

Just recently, Euro Exim Bank flaunted the massive benefits of using Ripple’s xCurrent and xRapid:

“Operating collaboratively with Ripple and selected counterparts, we are implementing both xCurrent [payments processing solution] and xRapid [on-demand liquidity solution] building on its extensive technological capabilities and blockchain expertise in trading systems.”

Brad Garlinghouse said that more banks would be flipping the switch and starting to use XRP as well.

Source: oracletimes

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Are Bitcoin Tumblers Smart to Use or Do They Bring Unwanted Attention From Regulators

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A bitcoin tumbler site that offers users untraceable cryptocurrency, BestMixer, could have tainted many wallets by giving them small amounts of BTC as gifts, a practice called crypto dusting.

According to a cryptocurrency security firm, Cypher Trace, if your wallet was among those that received the gift then you may be holding laundered coins. The company believes that, although BestMixer’s owners are compliant, they could have transacted with an alleged money launderer, without consent or knowledge.

According to the CEO of Cipher Trace, David Jevans, wallets that dealt with BestMixer could attract attention from relevant regulators. He also believes that anyone using a tumbler site could be suspected of questionable motives.

It All Started In October 2018

BestMixer began the promotional campaign in October 2018, whereby it set BTC to wallet addresses, adding a promotional message for their tumbler services. The amount sent was minuscule, and ranged between 666 and 888 satoshis.

BestMixer allows people to transact completely anonymously, enabling them to remain private when swiping funds with others. The funds are sourced from different pools, depending on the privacy level a person requires.

The tumbler site also perfects on a time delay in the intention of making it hard for blockchain analysts to trace transactions.

Cryptocurrency Payments No Longer Anonymous

Tracing cryptocurrency transactions used to be difficult, and lack of AML/KYC control made it difficult to link a person to their wallet addrc Be of this, criminals found an opportunity to use the mediuurm for their illicit activities; with platforms such as Silk Toad become more popular in the belief that bitcoin is untraceable.

source:cryptoking

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After a Tumultuous 2018 for Crypto and the Birth of Stablecoins, Here is what to Expect in 2019

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2018 was the year of the bear run and the stablecoin. So what does 2019 hold for the crypto world? While it is impossible to tell what exactly will happen in 2019, one can make a good guess. Here are the five likely scenarios that will play out in 2019 for crypto:

Tether Will Lose Traction

For years, there have been issues raised about how legit Tether is. Despite this, it has remained a popular stablecoin in the crypto world.

However, rival stablecoins such as Coinbase, Circle, and Gemini could offer a challenge. This will erode the monopoly that it has enjoyed in the past. Even if Tether does not shutter as Basis did at the end of 2018, it will most likely not be as dominant.

Facebook Will Mint The WhatsApp Crypto

Facebook has been interested in creating a payments platform for years. The effort started in 2014 when it poached David Marcus of PayPal.

Marcus became the head of messaging products at the company. However, he was picked to head the company’s blockchain project in 2018, which is still shrouded in mystery. Recent reports indicate that he might launch a WhatsApp-based remittance service in India. After a rough period in 2018, the company could use a win in 2019.

The Regulators Will Go After Big Fish

The SEC will take on the major players in crypto in 2019. For instance, it might decide that XRP is unregistered security.

If that happens, Ripple could be hit with huge fines. It might also decide to shut down an exchange for not adhering to anti-money laundering laws. Besides that, celebrities who have used their star power to pump ICs might be in trouble.

The Bitcoin ETF Gets Approved

As the crypto world evolves, it could help the stage for a BTC traded fund also called an ETF. After the bubble burst, investors that are more reasonable are joining the crypto world.

Right now, a firm called Bakkt, created by those behind the NYSE wants to launch a BTC futures market. This could help to improve liquidity in the crypto world. Thus far, it is known that an SEC commission is seeking to have the BTC ETF approved. Before that, a VanEck might or might not be approved next month. It is worth noting how that works out.

The Bear Run Persists

The crypto world has been in a bear run since they reached a high in 2017. Right now, various factors such as volatility in the equity market, a possible economic recession, and global geopolitics might reduce appetite for crypto assets for now.

However, there is a bit of disagreement on this. Some experts believe that prices might bounce back soon. Others believe that crypto prices have not hit their low yet.

Summary

There is a lot of agreement and disagreement over whether these predictions will happen. However, there is quite good evidence to support them if you look at the crypto world right now. It is also worth noting that this is a young industry and anything is possible.

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