Stop The Bitcoin FUD: Criminal Cryptocurrency Transactions Are Falling

Despite a 2020 that saw the price of bitcoin rise to all-time highs and set new records for stability, it isn’t too difficult to find Bitcoin FUD being spread. But recently released blockchain analysis demonstrates that the “bitcoin is for criminals” narrative is weaker than ever. The FUD Keeps Coming Yesterday, Janet Yellen, the incoming nominee for U.S. treasury secretary, highlighted a common narrative that many believe shines an unfair light on the original cryptocurrency, suggesting that the government will try and regulate its use. “I think many [cryptocurrencies] are…

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Bitcoin Now the Most Crowded Trade – Labeled a ‘Bubble’ in Bank of America Survey

According to findings of a recent Bank of America (BOA) survey, buying bitcoin has now surpassed tech stocks as the most crowded trade. This new ranking means tech stocks have been relegated into second place for the first time since October 2019. Bitcoin Bubble Ranking Still, a majority of the interviewed fund managers believe bitcoin “to be in a bubble.” Consequently, as the Reuters report notes, a majority of these respondents predict that the value of bitcoin will halve within 12 months. Since the start of 2021, the value of…

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The Second Order Effects Of Bitcoin: Digitization, Decentralization And Deflation

Some inventions are so profound that their second order effects reshape the very structures of societies.  The term general purpose technologies (GPTs) is used to describe innovations like electricity, the steam engine and the computer. The paradigm shifts made possible by these inventions are often not initially understood, and can take decades to reach mass adoption. But once the genie is out of the bottle, there is no going back to a world without them. Electricity was invented in the 1870s, but electric motors were not adopted in factories until…

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Analyst Lyn Alden Says Ethereum Is Still an ‘Unfinished Project’

A bitcoin (BTC) strategist and investor remain skeptical towards the Ethereum protocol, considering it an “unfinished product.” Lyn Alden, an advisor for the dollar cost averaging BTC investing app Swan Bitcoin, believes the network lacks a concrete model, “other than just speculation.” Alden Prefers Bitcoin’s Modular Design From an Engineering Perspective In a blog post on her personal website, Alden pointed out that Ethereum protocol is an unfinished product “on the base layer, with a rather circular use-case so far that revolves around the trading, liquidity provision, and gamification, of…

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Major Darknet Marketplace for Stolen Cards Shuts Down After Making Over $1 Billion in Bitcoin

The longest-running marketplace for stolen credit cards on the darknet has announced the shutting down of its services. The administrator of Joker’s Stash, founded in 2014, stated that the site would be taken down in February. Site Generated Over $1 Billion in BTC ‘Over the Past Years,’ Claims a Security Research Firm According to the announcement made through its forum, the admin known as “Jokerstash” stated that “it’s time for us to leave forever.” Stash’s users could spend their account balances until Feb. 15, before the admin proceeds to “wipe…

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Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules

The CEO of the South Korean cryptocurrency exchange Bithumb has made some predictions regarding the upcoming new rules governing the national industry. In fact, the executive believes there will only be between four and seven exchanges surviving the new regulation. Smaller Companies Unlikely to Meet New Banking, Anti-Money Laundering Protocols on Time During an interview with Hanguk Hyungjae, Heo Baek-young made an apocalyptic forecast for the local crypto firms. He believes that smaller companies could “struggle” to meet the Information Security Management System (ISMS) certification requirements. In South Korea, there…

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