Nic Carter tar sikte på påstander om at Bitcoin er en miljøkatastrofe

Carter hevder at gruvedrift er konsentrert i områder der det er et overskudd av energi.

Artikkel med tittelen Bitcoin miners er på vei til selvødeleggelse

Coin Metrics medstifter Nic Carter har produsert en godt undersøkt tilbakevisning til noen av de viktigste påstandene som antyder at makt-sulten Bitcoin-gruvedrift forårsaker en miljøkatastrofe.

I en inngående artikkel kalt Noahbjectivity on Bitcoin mining skrevet 30. mars, svarer Castle Island Ventures Partner på påstander fra Bloomberg-spaltist Noah Smith i en 24. mars-artikkel med tittelen Bitcoin miners er på vei til selvødeleggelse.

Den første påstanden Carter tok sikte på var at Bitcoin er unik blant eiendeler ved at en stigende pris medfører større energitrekk. Carter uttalte at gull har nøyaktig samme trekk ved at høyere priser resulterer i økt gruvedrift og energiforbruk.

For det andre var det et krav fra Smith om at Bitcoin-gruvedrift hogger lokale kraftressurser som fratar vanlige kunder strøm. I følge tall produsert av Carter er gruvedrift imidlertid konsentrert i områder der det faktisk er et overskudd av ubrukt energi.

Innen Kina foregår de aller fleste gruvedrift i fire provinser: Xinjiang, Sichuan, Indre Mongolia og Yunnan. Mellom dem utgjorde de 63% av den globale Bitcoin-hashraten fra 4. kvartal 2019 til 2. kvartal 2020. Disse områdene bruker en kombinasjon av kull, sol, vind og vannkraft, og de har alle relativt lav befolkningstetthet og en overflod av energi.

Carter kaller dette overskuddsenergien som aldri vil gjøre det til nettet ‚ikke-viralt‘ og dyppet dypt inn i tallene for å avsløre at Kina tidligere år har begrenset eller sekvestrert 100 TWh i gjennomsnitt for vann, solenergi og vindenergi samlet. Curtailing er en prosess som refererer til å fjerne overflødig energi fra nettet eller offentlig forbruk ofte for å opprettholde prisnivået.

Bitcoin-gruvedrift er estimert til å forbruke mellom 89 TWh / år og 138 TWh, ifølge data fra Digiconomist og Cambridge University.

„Det er nok å si at det er nok ikke-viral energi der ute til å kjøre Bitcoin mange ganger. Det er bare å distribuere hashrate på de rette stedene, som gruvearbeidere gjør – aggressivt.“

Dette er en hjørnestein i anti-Bitcoin

Hvis Bitcoin-gruvedrift, som er relativt bærbart, er konsentrert i områder der elektrisitet er ubrukt (og dermed billig), kompliserer dette argumenter som bare summerer opp strømforbruket.

For eksempel skrev Alex de Vries, grunnlegger av Digiconomist, i en fersk artikkel:

„Den rekordstore økningen i Bitcoin-prisen i begynnelsen av 2021 kan føre til at nettverket bruker like mye energi som alle datasentre globalt, med et tilhørende karbonavtrykk som samsvarer med Londons fotavtrykkstørrelse.“

Cambridge Bitcoin Electricity Consumption Index (CBECI) anslår Bitcoins årlige strømforbruk for øyeblikket et sted mellom Sverige og Malaysia.

I Smiths opprinnelige artikkel argumenterte han for at Bitcoin-utviklere trengte å ta i bruk et alternativ til Proof-of-Work, med henvisning til Proof-of-Stake som en levedyktig kandidat. Ethereum flytter til Proof of Stake med Eth2, som anslås å bruke 99,98% mindre strøm.

Carter tror ikke at Proof of Stake kan konkurrere når det gjelder sikkerhet og desentralisering:

“Dette er en hjørnestein i anti-Bitcoin-energiargumentet: forestillingen om at du kan ha noe for ingenting med Proof of Stake. Ikke noe energiforbruk, men likevel en fungerende desentralisert konsensus. Hvis denne logikken minner deg om maskiner for evig bevegelse, er det fordi det er akkurat det som blir foreslått her: en helt gratis lunsj hvor du får nøyaktig de samme forsikringene som Bitcoin uten kostnader overhodet. „

This chart pattern is causing trouble for bulls

Bitcoin: This chart pattern is causing trouble for bulls – further decline expected

Bitcoin failed to shoot above $50,000 on Sunday, despite a growing bullish sentiment towards the said upside target. Instead, the benchmark cryptocurrency warned of a potential bearish reversal after forming a pattern that chart gurus call a „rising wedge“.

The BTC/USD exchange rate moved higher in recent days, leaving a trail of higher highs and higher lows. Its movement formed two Crypto Superstar upward trend lines converging to a single point called the „Apex“.

Technically, the structure formed a rising wedge formation, which typically leads to a price breakdown.

The downside target in a Rising Wedge corresponds to the maximum distance between the upper and lower trendlines of the structure. In Bitcoin’s case, the length is almost $5,500, which brings the wedge’s downside target near $43,000 in the coming sessions.

Contrasting signals

The bears are not in complete control despite the recent breakout attempts. It looks like a break below the lower trendline of the wedge will result in Bitcoin (Massive Bitcoin investment planned!) gaining additional support from another upward trendline, which is an ascending channel pattern.

The price bottom could set the stage for another leg higher – a rebound move that could see Bitcoin test its refreshed all-time high of $49,700, followed by a close above $50,000.

Further bullish tailwinds come from Bitcoin’s Relative Strength Indicator, which continues to show no overbought conditions, although it is trading near levels. As a result, the cryptocurrency could see a slight rebound towards $50,000, with $48,000-48,200 serving as an intermediate hurdle.

On-chain indicators support a short-term bullish outlook. Data retrieved from CryptoQuant shows that stablecoin reserves are at a record high across all exchanges – suggesting traders could use dollar-linked tokens to buy cryptocurrencies, including bitcoin.

„If you are a long-term investor, now is the time to buy BTC,“ writes Ki-Young Ju, CEO of CryptoQuant. „I’m not sure how many corrections would be on the way, but the on-chain indicator says there are enough stablecoins on exchanges compared to Bitcoins to get another leg up.“

Macro risks for bitcoin

As traders and investors buy bitcoin and build up their bitcoin positions, they are anticipating a wave of risks from the possible better-than-expected recovery of the US economy.

In its latest report, Bank of America writes that the US dollar could see growth in 2021 as the Federal Reserve hints at reducing its ultra-dovish stance by scaling back its $120 billion-a-month asset purchase programme.

Strategists believe policy normalisation could appear by early next year.

In the meantime, the European Central Bank is likely to step up its easing programmes, which in turn could weaken the euro. The dollar is likely to gain strength as a result.

Bitcoin could face a correction if global sentiment towards the greenback and the US economy improves.

Rekordvolumen und „verrückter“ Verkehr brechen die besten Kryptowährungsbörsen

Die Börsen haben weiterhin mit Skalierungs- und Konnektivitätsproblemen zu kämpfen, da das Volumen jeden Tag neue ATHs erreicht, zusammen mit dem Preis für digitale Assets.

Die historischen Gewinne von Bitcoin führen zu ständigen Problemen beim Austausch von Kryptowährungen

Am Donnerstag überschritt Bitcoin Lifestyle 40.000 US-Dollar und bot dann eine Kaufgelegenheit mit einem Rückgang auf 36.550 US-Dollar, aber die Leute konnten dies nicht nutzen, weil sie nicht auf die Plattformen zugreifen konnten. Heute hat BTC 41.960 USD überschritten.

Sowohl auf Mittwoch und Donnerstag, Coinbase erfahren Konnektivitätsprobleme .

„Wir kennen und untersuchen Konnektivitätsprobleme bei Coinbase und Coinbase Pro sowohl für Web- als auch für mobile Apps. Wir arbeiten schnell daran, den Service wieder normal zu machen “, sagte die in San Francisco ansässige Börse, die im vergangenen Monat einen Börsengang bei der SEC mit einem Pferdeschwanzwert von 28 Milliarden US-Dollar beantragte .

Dies ist nicht einmal das erste Mal, dass sich die Crypto-Community vor dem Bullenlauf 2017 lange darüber beschwert hat, ohne dass eine Lösung gefunden wurde

Ein weiterer beliebter Kryptowährungsaustausch , Binance , hat mit ähnlichen Skalierungsproblemen zu kämpfen . Sein CEO Changpeng Zhao versprach , während des Dezemberausfalls mehr Serverkapazität hinzuzufügen.

Diese Störungen an Krypto-Börsen resultieren aus schnellen Preiserhöhungen, die immer mehr Verkehr zu ihnen bringen. Als BTC im Juni den Meilenstein von 10.000 US-Dollar überschritt, verzeichnete Coinbase innerhalb von vier Minuten einen fünffachen Anstieg des Datenverkehrs.

Der Coinbase-Verkehr ist laut Similar Web von 23,73 Millionen im Oktober auf 47,97 Millionen im Dezember gestiegen. Gleichzeitig stieg der Verkehr von Binance von 32,5 Millionen auf 56,27 Millionen.

Das Börsenvolumen hat ebenfalls neue Rekorde erreicht.

„Binance hat ATH-Volumina. Aufgrund der extremen Marktvolatilität kann es bei den Benutzern zu Verzögerungen kommen “, twitterte die Börse am Freitag.

Bitcoin pourrait atteindre 146 000 dollars à long terme en „évinçant l’or“, selon JPMorgan

Les stratèges de la mégabanque américaine pensent que la cryptocourant a une chance d’atteindre 146 000 dollars dans les années à venir si elle peut évoluer vers une alternative convaincante à l’or.

L’établissement de parallèles entre le Bitcoin (BTC) et le rôle de l’or en tant que couverture pour les investisseurs est populaire depuis des années. Jusqu’à présent, l’écart flagrant entre les capitalisations boursières totales des deux actifs a limité ces analogies dans une large mesure. L’or, même après une hausse majeure du prix du Bitcoin en décembre 2020, continue de représenter environ 4,6 fois la capitalisation boursière actuelle de Bitcoin, qui s’élève à 5,85 milliards de dollars.

Pourtant, les stratèges de la mégabanque américaine JPMorgan Chase prévoient un scénario possible dans lequel Bitcoin pourrait sérieusement prendre le dessus sur son prédécesseur. Le 5 janvier, un rapport de Bloomberg a cité une note des stratèges de la banque, dirigés par Nikolaos Panigirtzoglou, dans laquelle ils ont esquissé une voie pour que l’investissement total du secteur privé dans Bitcoin atteigne la valeur actuellement investie dans l’or, soit par le biais de fonds négociés en bourse, soit par celui des barres et des pièces.

Cependant, une telle voie dépend essentiellement de la convergence de la volatilité de Bitcoin avec celle du métal précieux, ont-ils souligné, et cela devrait prendre un certain temps :

„Un évincement de l’or comme monnaie „alternative“ implique un grand avantage pour Bitcoin sur le long terme […] une convergence des volatilités entre Bitcoin et l’or n’est pas susceptible de se produire rapidement et est dans notre esprit un processus pluriannuel. Cela implique que l’objectif théorique de 146 000 dollars pour le prix du bitcoin devrait être considéré comme un objectif à long terme, et donc un objectif de prix non durable pour cette année“.

Comme l’a rapporté hier Cointelegraph, Bitcoin a survécu à deux jours d’agitation et de forte volatilité des prix, avec un bref plongeon à 27 700 $ le 4 janvier, suivi d’un rebond à près de 30 000 $. Au moment de la mise sous presse, la pièce se négociait à près de 31.5000 dollars. La chute d’hier a été la plus brutale depuis que la pièce a retrouvé le prix de 20 000 dollars en décembre 2020.

Dans ce contexte de volatilité persistante, les stratèges de JPMorgan ont néanmoins identifié des signes positifs forts pour la cryptocouronne – indiquant une accumulation de positions longues spéculatives – tout en avertissant que la lecture du paysage de l’investissement à moyen terme reste difficile :

„La valorisation et le contexte des positions sont devenus beaucoup plus difficiles pour Bitcoin au début de la nouvelle année […] Bien que nous ne puissions pas exclure la possibilité que la manie spéculative actuelle se propage, poussant le prix du Bitcoin vers la région de consensus entre 50 000 et 100 000 dollars, nous pensons que de tels niveaux de prix s’avéreraient insoutenables.“

Le 1er janvier, le Bitcoin a atteint un sommet historique contre l’or, dépassant son précédent pic lors du marché haussier de l’hiver 2017. En décembre de l’année dernière, la même équipe de stratèges dirigée par Panigirtzoglou suggérait déjà que Bitcoin pourrait ronger la part de marché de l’or à l’avenir, envisageant un changement majeur dans l’allocation institutionnelle vers la cryptocouronne.

Entre-temps, un climat commercial mouvementé a fait que les volumes sur les principales bourses de cryptocourants ont atteint des sommets. Le 4 janvier, Binance, la plus grande bourse de crypto-monnaie du monde en termes de volume d’échanges, a annoncé un record de 80 milliards de dollars d’activité commerciale sur 24 heures. „Pour mettre les choses en perspective, du 15 novembre 2017 au 15 décembre 2017, le mois précédant l’ATH [le plus haut niveau jamais atteint] en 2017, Binance a réalisé un volume de transactions de 20 milliards de dollars en un mois“, a écrit le PDG de la bourse sur Twitter.

Cependant, la perte totale de 190 millions de dollars subie par les opérateurs sur les marchés à terme, rien que pour Binance, en une heure seulement, est tout aussi sans précédent, la plus grande valeur d’une liquidation massive à ce jour sur la plateforme.

199 999 980 XRP envoyés à la base de données des pièces de monnaie, alors que les négociants de Bitcoin déplacent des quantités massives de CTB

Un tas de XRP se dirige vers Coinbase alors que les traders de Bitcoin font tourner près d’un demi-milliard de dollars de BTC.

Selon le crypto tracker Whale Alert, un grand détenteur de XRP vient d’envoyer 199 999 980 $ de XRP d’un portefeuille inconnu à la crypto échange Coinbase.

Selon Bithomp, la baleine a reçu à l’origine près de 200 millions de dollars de XRP le 30 décembre en vingt transactions de 10 millions de XRP chacune.

Le propriétaire de la crypto pourrait chercher à vendre le XRP sur le marché libre ou compter sur la société pour stocker les actifs en vue de leur conservation.

Les négociants en cryptographie suivent également deux énormes sacs BTC qui sont en mouvement. Tard dans la journée de mardi, un portefeuille inconnu a reçu 3 201 BTC d’une valeur approximative de 111,6 millions de dollars. Ce portefeuille a envoyé la majorité des 3 201 CTB à un autre portefeuille inconnu, tard mercredi, lors de sa deuxième transaction enregistrée.

Au même moment, un autre inconnu a envoyé 3 296 BTC d’une valeur de 115,6 millions de dollars à un portefeuille non identifié.

Le destinataire a rapidement envoyé l’énorme somme de BTC à un autre portefeuille inconnu, selon Blockchain.com.

Voici un aperçu des plus grosses transactions de CTB effectuées dans les dernières 24 heures.

  • 1 000 CTB d’une valeur de 33,8 millions de dollars envoyés d’un portefeuille inconnu à un autre
  • 1401 CTB d’une valeur de 48,1 millions de dollars envoyés de Xapo à Huobi.
  • 800 CTB d’une valeur de 27,7 millions de dollars envoyées de Coinbase à Bitstamp
  • 882 CTB d’une valeur de 30,9 millions de dollars envoyés d’un portefeuille inconnu à la Coinbase
  • 1 000 CTB d’une valeur de 36,9 millions de dollars envoyés de Huobi à Bitstamp.

IOTA drama behind the scenes: Now the founder of the coin speaks out

  • IOTA’s founder David Sønstebø was „removed“ from the IOTA Foundation on December 10.
  • Now he has published an article about it. He says that the consequences of the separation were avoidable.

IOTA founder David Sønstebø broke his silence on the matter of his departure on December 26.

Sønstebø published a statement on Medium. In the posting, he gave his side of the story and left public messages for the remaining IOTA Foundation board members.

Technically happy

For the public, IOTA moved in a positive direction in late 2020. In December, IOTA formed a partnership related to environmental sustainability solutions. On November 30, the platform announced its next-generation wallet – Firefly. Also, IOTA 1.5’s public test network went live, called Chrysalis. Behind the scenes, however, excitement was growing.

Sparse at first

The first official indication that something was amiss came in the form of a short post on the IOTA Foundation (IF) blog. In it, the board of directors and the supervisory board stated that their interests and Sønstebø’s had „significantly diverged.“ They thanked him for founding the entity they led and wished him entrepreneurial success.

On Dec. 12, however, an addendum appeared on the blog. The foundation reminded readers that „IOTA is not about any one person.“ At the same time, the foundation emphasized the role David Sønstebø played in the founding and initial buildup. They also wrote that his departure „changes absolutely nothing“ about the strategy and deployment of Chrysalis and Coordicide.

Sønstebø’s response

On December 26, Sønstebø published his version of events. He explains that he initially kept quiet so that the publication of Chrysalis could continue.

Sønstebø claims that what prompted him to write his article was the avoidable chaos created by the IOTA Foundation. His departure, he writes, could have been coordinated between him and IF to quell loose talk.

Rather than describing a tit-for-tat style attack, Sønstebø points to three salient features of the project’s evolution that led to the split. He focuses on the maturation of the project and the need for a separate CEO/COO.

He then focuses on finances (especially in 2020) and his repeated proposal to liquidate the foundation to keep the IOTA project itself independent of the markets.

He also emphasizes that the liquidation proposal is not due to financial problems of the IOTA Foundation. Last, he describes a panicked board that sees a potential benefit – the creation of new services – slipping away. In his view as a founder, they never had that opportunity.

Loving and non-loving goodbyes

After giving his perspective, Sønstebø offers parting words for each member of the board and the supervisory board. For some he has fond memories, for others a scathing critique. And for one, merely, „And then S#!t happened.“

Bitcoin treffer ny all-time high, skyter over $ 22.000

Bitcoin har nådd en ny all-time high. Bare 24 timer etter skyting utover $ 20 000-markeringen har verdens fremste digitale valuta etter markedsverdi steget til $ 22 700, omtrent $ 2000 høyere enn der den sto for bare 24 timer siden.

Bitcoin vokser som aldri før

Valutaen har vært i en kraftig økning de siste ukene. Tatt i betraktning at eiendelen på et tidspunkt i midten av mars ble fanget under 4000 dollar for en kort periode, har valutaen lagt til nær 20 000 dollar til prisen på bare ni korte måneder. Bortsett fra en litt bearish september, som er typisk for bitcoin, har valutaen vært på en høy strek siden begynnelsen av året.

Coin Metrics sier at valutaen har lagt til mer enn ti prosent til den totale prisen den siste dagen, og at bitcoin er opp rundt 200 prosent siden begynnelsen av året.

Mange analytikere diskuterer nå hva som potensielt kan være bak den plutselige bølgen. Eric Demuth – administrerende direktør og medstifter av kryptohandelsappen Bit Panda – uttaler at dette rallyet i stor grad er drevet av institusjonelle investorer, som er den primære forskjellen mellom nå og okseløpet som skjedde for tre år siden i 2017. Det løpet var først og fremst drevet av forhandlere.

Han sier også at mange spillere ser bitcoin som et potensielt sikringsverktøy mot inflasjon. De har sett tradisjonelle valutaer falle gjentatte ganger gjennom året og tror sannsynligvis at bitcoin er et solid alternativ til varer som gull, som vanligvis blir sett på som den ultimate butikken av rikdom.

Han sier:

Denne løpeturen er helt annerledes enn den i 2017. Den gang ble prisen drevet av hovedsakelig detaljistinvestorer. Nå har vi i tillegg milliardærer som berømmer bitcoin og investeringsfond som sikrer betydelige posisjoner verdt hundrevis av millioner. De store spillerne som en gang var veldig fjernt fra bitcoin og var frittalende kritikere, deltar nå i løpet.

Michael Sonnenshein – administrerende direktør i Grayscale, en digital valutasjef – uttaler i et nylig intervju at selskapets kryptobeholdninger har økt med omtrent seks ganger det de var i år 2019. Han nevner:

Strømmene våre er nå sannsynligvis opp seks ganger så høye som i fjor, og investortypene som setter kapital i arbeid er ulik noen av investorene vi har sett noen gang før. Det er noen av verdens største investorer.

Fra begynnelsen av desember er de totale eiendelene som Grayscale forvalter, omtrent 10,8 milliarder dollar.
Ikke bli for begeistret ennå

Til tross for bitcoins solide løp, advarer mange sine følgere om at det nå ikke nødvendigvis er tid for å bli involvert. Jay Smith, for eksempel – en kryptotyr og investor med e-Toro – har gitt en advarsel til forhandlere som kan være nye i kryptospillet og hevder:

Det er et tak for nå. Vi går inn i nytt territorium, og det føles som bitcoin endelig blir akseptert som en ny aktivaklasse, men det er fortsatt en lang vei å gå.

Switcheo Network – Förstå hur Zilswap fungerar

Zilswap är ett decentraliserat protokoll som tillåter användare att utbyta ZRC-2-tokens på Zilliqa.

I vår tidigare artikel i denna serie har vi förklarat hur du kan spela på Switcheo Exchange.

I den här artikeln kommer vi att fokusera på ZilSwap-produkten som stöds av nätverket

Switcheo Network låter dig byta ZRC-2-tokens. Du kan också tillhandahålla likviditet i en befintlig pool eller skapa en ny pool. Zilswap-protokollet som stöds av Switcheo Network är ett helt decentraliserat protokoll som gör det möjligt för användare att utbyta ZRC-2-tokens på Zilliqa .

Zilswap använder sig av en autonom marknadsmakare (AMM) baserad på Constant Product Formula (x * y = k) som först föreslogs av Vitalik Buterin .

Swappaktiviteten görs mot likviditetspoolerna och transaktionerna kan göras helt on-chain.

För att använda Zilswap, gå till plattformens sida .

Plattformen låter dig ansluta till två typer av plånböcker:

Om du är en ny användare kan du ladda ner Zilpay-plånboken genom att använda länken ovan.

Zilpay är ett Google Chrome-tillägg. För att installera den, gå till den här sidan .

Klicka på Lägg till i Chrome och Zilpay läggs till i webbläsartillägget.

Klicka på Zilpay-ikonen. Det ger dig två alternativ för installation av plånbok .

Om du är en ny användare klickar du på Bitcoin Era.

Det visar dig en 12-ords reservfras som du behöver lagra säkert.

Applikationen kommer att be dig att verifiera reservfrasen. När du har verifierat kommer den att be dig ställa in kontolösenordet. Gör det och sedan är det klart.

Målsidan ser ut så här.

Användare kan få ZIL-tokens från Binance på ZIL / USDT- paret.

Skicka det till Zilpay-kontot.

Bitcoin ransom money: Electronics company Foxconn victim of ransomware attack

The ransomware attacks do not stop. Now the electronics giant Foxconn is also among the victims. The perpetrator group has already struck several times.

The electronics giant Foxconn has become the victim of a massive hacker attack. According to several media reports, the attackers stole unencrypted files at a Mexican Foxconn branch on Thanksgiving weekend. The hackers then disabled the devices and are now demanding a ransom for the activation.

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Behind the attack is a ransomware group called DoppelPaymer. In the meantime they have partially published the captured files. They include confidential business documents and reports. However, financial information or personal data of Foxconn employees are not included. Since the attack, the institution’s website has been offline and displays an error message to visitors.

Various sources have already passed on the ransom demand created on Foxconn servers. According to this, the Double Paymer hackers are demanding a ransom of 1804.0955 BTC, which at the current rate is equivalent to approximately 34,686,000 US dollars.

We encrypted an N[ord]A[merika] segment, not the entire BinBot Foxconn. Approximately 1200-1400 servers and no workstations are affected. They also had about 75 TB of various backups, we were able to destroy about 20 to 30 TB,

quotes the portal bleepingcomputer.com from an interview with the attackers. Furthermore, Foxconn itself has commented on the ransomware attack as follows:

We can confirm that an information system in the USA, which supports some of our operations on the American continent, was at the centre of a cyber attack on 29 November. We are working with technical experts and law enforcement agencies to conduct an investigation to determine the full impact of this illegal action, identify those responsible and bring them to justice.

Already several prominent victims of ransomware
This is a typical ransomware attack in which hackers infiltrate the IT infrastructure of individuals, companies or organisations. In doing so, they encrypt sensitive information or make it inaccessible. To provide the necessary encryption tools and regain access to the data, the perpetrators demand a ransom, often in Bitcoin. Other victims of DoppelPaymer include Compal, PEMEX (Petróleos Mexicanos), the city of Torrance in California, the University of Newcastle, the Hall district in Georgia, the Banijay group SAS and Brittany Télécom.

CWT, the US travel agency, was extorted for the equivalent of $4.5 million in a similar case. He even managed to negotiate down the ransom demand in a chat with the blackmailers. Since this year, the Argentine Telecom has also been among the victims. Who is behind these two attacks, however, is unclear.

Exclusive interview with Michael Gebert

Dr. Michael Gebert has 25 years of experience as an entrepreneur, in addition to exploring and analyzing tomorrow’s trends today.

Michael is President of the European Blockchain Association, Managing Director of the CrowdSourcing Association and a founding member of the German CrowdFunding Network

He also advises the European Commission within the CrowdFunding interest group in Brussels, in addition to being a designated member of the TAB “Digital Work” support group for the German Bundestag.

BeInCrypto had the opportunity to interview him thanks to the agreement reached with our media partner for Blockchain week in Hong Kong .

Thanks to his advantageous position and high-level contacts within the European Union, he was able to provide us with valuable information on the new upcoming regulations for the Bitcoin Fast Profit industry, the digital euro and many others. topics.

On regulation within the European Union

BeInCrypto: Europe seems to be moving towards specific regulation of cryptocurrencies. In September, the finance ministers of Spain, Germany, France, Italy and the Netherlands proposed to the European Commission the creation of a draft of strict regulations on asset-backed cryptocurrencies, such as stablecoins, in order to protect consumers and preserve the sovereignty of their states. What does the European blockchain community think of this regulation?

Michael Gebert: First of all, with our experience in alternative finance, with very unregulated markets, we think it’s a very positive step forward that there is some sort of indication of regulation. . It is not a regulation in itself, only an indication. We now know what the direction is, for market players and especially large players, this provides them with a guide in the legal circuit.

Whether or not this is positive for the cryptocurrency market is yet to be discussed, but there are two positives to this. First, this is a very good indication that the European Commission is taking the issue very seriously. Secondly, a common approach within the European Union will be developed for all ministers.

We are very surprised at how quickly this framework has been put in place with regard to the complex administrative machinery of the EU. We see it as a real victory for decentralization. This is a step forward, as the Brussels Central Commission has understood the power of blockchain and is preparing for a new era of understanding at the settlement decision level.

BeInCrypto: This body will create a new oversight committee in the EU. It will be a mixed set of national and European authorities that will oversee digital currencies. Do you think that the European authorities have the necessary knowledge to regulate this dynamic market?

Michael Gebert: We were part of the process, we were critical at the beginning about the level of knowledge and also because of the strong influence of the lobbies of the old banking sector.
Of course, the former players have a lot of power through their extended lobbies, but they realized they couldn’t stop the change. This is why the power of knowledge, even in this sector, has been strengthened in recent years.

The expert committees of the European Commission that consult or comment on future results and documents are very diverse, which means that there are many experts from different countries and from different backgrounds. In theory, this means that the aggregation of knowledge and understanding has been done well.

At the end of the process, all the knowledge gathered is presented in a decision document for all EU ministers gathered around the table. At this stage, the politicians have to discuss it among themselves and it becomes complex because some position themselves on the right or on the left …

To be fair, the current regulations are not ideal, but as a first comprehensive approach to the roadmap, it’s a good step. Even though those who will make the final decisions don’t really have in-depth knowledge as usual, I have seen the documents provided and can say that there is a very good knowledge of the subject.