Spyware Creator Working With Coinbase
Online privacy is always a huge debate. More recently there is legislation that has been passed which should deliver more protection for users data. These include GDPR, BDSG-New, and CCPA as the main ones.
While many people as for why there is a need for privacy if nothing wrong is being done, the answer to this isn’t as clear.
First up is, who determines what is wrong and what isn’t? Why this matters is that Coinbase has acquired Neutrino, and with such a move, they will be in a position to strip away any privacy their users have. This is regardless of any right or wrong intentions they may possess.
For those who don’t know Neutrino was one of the founders who sold off-the-shelf hacking software to government agencies.
Businesses and governments all admit they are at a loss to responsibly handle levels of power which come from capable surveillance.
While Coinbase faces continual pressure to make available user data, they have fought against this to a certain degree, how this will transpire next time they are asked is unclear.
Throw Neutrino into the mix whose founders do have a shaky history, and it is hard to see how Coinbase can utilize a company they have purchased that has members who used to sell hacking software.
As long as the use is justified, then it may be beneficial, but they have the tools to do precisely what they prevented the government from doing.
Bitcoin and Its Demand Problem
Bitcoin has been trading sideways over the last week after the short spike in value, but there appears to be a stalemate in buying pressure even at the low prices.
This could be signs of another slip to the position it has clawed itself up from, or as some analysts are expecting, it may be a sign the value will go lower.
Short term indications look as this will be the levels for now, and unless there is demand for more, then BTC may just rest in its current position. A few analysts are saying, with such tight ranges, it is increasingly difficult to trade to a profit.
What is more alarming is that dip buyers have dried up, and as soon as buying dries up, there is only one direction the value can go, and that is down.
It was also highlighted that the last increase was a halfhearted effort, and this showed a lack of support for the crypto.
The question is to what levels of volatility will BTC rise to in the short term?
BTC Poster Boy Alex Jones Offered Millions to Pump Bitcoin
The Joe Rogan Experience had an all familiar guest in the shape of Alex Jones. What turned out to be a fascinating podcast had Jones discussing BTC and George Soros to name but a few.
What was most interesting was when Jones said he was contacted via intermediaries to cool down some tension between the two.
As part of what was indicated was his benefit of agreeing to ‘Pump Bitcoin’ this wasn’t a cash incentive, rather a BTC incentive, and at the time of BTC hitting its peak, this would have amounted to $38 million.
While it appears he didn’t take up the offer, he went on to say he wasn’t against cryptocurrencies, he was only warning people to be careful with their judgment.
Jones made claims he has been offered sums of $1 million per month to promote cryptocurrencies.
This is huge, but it was at the time he was saying they were only a ‘Ponzi Scheme’ this he suggested was there were signs that the bubble was going to burst, and all the wealthy investors were looking for new investors.
It is quite ironic that his stance is so firm, but with such a massive following on Infowars, if he was to support cryptocurrencies, then he could be a massive influence on potential investors.
Can Facebook and Telegram Succeed where BTC Failed?
Massive messaging companies are risking a chance to succeed where plenty of crypto start-ups have failed. What they are planning is to introduce mainstream consumers alternatives to digital coins.
Over the next 12-month these giants are hoping to roll out their own coins. This will allow users to transfer money to contacts using their in-built messaging systems. Much in the same way as PayPal can do.
Facebook is the most anticipated because their incarnation of a system will send funds instantly. Such is the excitement for this project, Facebook has already spoken to Crypto exchanges of the possibility of them selling these coins to consumers.
Telegram is also working on such a model, and with 300 million users worldwide, this is a determined initial number of customers waiting to use the service.
Crypto start-ups have to build up customers, but with this messaging companies, they already have a client base in place.
One thing that this can benefit is in third world countries where people have no access to banking systems, but they do have the internet.
Not only this, the means at which these coins operate does away with the earth-shattering amounts of power it takes to mine Bitcoin.
Money Laundering on the Increase in Japan
Financial transactions that are classed as suspicious has risen by a multiple of 10x over the past 12-months. Criminals are using ever such sneaky tricks to hide their identity in their KYC procedures.
In many cases the suspected offenders were using different names and dates of birth, but with the same photo ID.
Some users were also logging into exchanges from other countries while claiming they were in Japan. These funds which have seen become illicit are used to purchase child pornography and drugs from marketplaces that reside online.
Such is the extent of these operations, the Financial Services Agency which is Japans financial regulator has increased surveillance of local crypto exchanges to put a halt to these money laundering crimes that are sued for such purposes as well as funding terrorism.