Trump Picks Anti-Encryption Attorney General, Signal Encrypted Messenger Downloads Skyrocket

Trump Picks Anti-Encryption Attorney General, Signal Encrypted Messenger Downloads Skyrocket

admin Anonymity, Bitcoin, CoinGreed, Donald Trump, Edward Snowden, Encryption & Privacy 0 Comments

Donald Trump’s choice for Attorney General may indicate an administration hostile to encryption and online privacy. Alabama Senator Jeff Sessions, the incoming administration’s Attorney General pick, has long adopted a critical stance against encryption. He has stood in direct opposition to end-to-end encryption, citing his experience in law enforcement when calling for government officials to have complete access to encrypted devices. Earlier this year, Apple remained in a standoff with the FBI over allowing law enforcement agencies access to a locked device owned by a mass shooter in California, a move highly criticized by Sessions. Trump himself also opposed Apple’s stand while on the campaign trail, insisting that the company be boycotted. The selection of Sessions for Attorney General of the United States indicates that a Trump administration would be hostile to encryption, and would side with law enforcement agencies over tech companies when making legal and prosecutorial decisions. This gives privacy advocates cause for worry for the next four years. Downloads for Signal, Snowden-endorsed encrypted messenger, up post-election An upcoming Trump administration’s promised hostility towards encryption has not gone unnoticed by the nation at large. Following the results of the U.S. presidential election, Signal, the encrypted messaging app by …

Bitcoin is Heading Towards a Four Figure Price, Analysts Say

Bitcoin is Heading Towards a Four Figure Price, Analysts Say

admin Bitcoin, CoinGreed, Crypto News, Cryptocurrencies, Cryptocurrency, Donald Trump, Prices 0 Comments

Over the past two weeks, the demand for Bitcoin has significantly increased due to global financial market instability, major economic changes and currency devaluation. Analysts state that once Bitcoin breaks the $790-800 region, it will quickly head towards a four figure price. The demonetization of 500 and 1,000 bank notes in India, the devaluation of the Chinese yuan, the crackdown on Chinese wealth management products (WMPs) and the election of Donald Trump, among many other factors, has led to the price of Bitcoin to escalate quite rapidly. On Oct. 22, Bitcoin was being traded at around $660 on average in most markets. By Nov. 20, the Bitcoin price almost reached $800, surpassing its previous peak of $775. Despite yesterday’s fall, which sent Bitcoin back to the $732 region, it has demonstrated nearly a $100 monthly increase since late October, outperforming all reserve currencies, most assets and altcoins. Breaking $800 Some analysts state that once Bitcoin breaks $800 with resistance, the digital currency will promptly head towards a four figure price. Specifically, if it is backed with significant economic and financial change that pressures high profile investors and traders to seek alternative safe haven assets, Bitcoin will most likely reach a …

Canadian Government Moving Faster Towards Mainstream Bitcoin Adoption

Canadian Government Moving Faster Towards Mainstream Bitcoin Adoption

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Recent events in Canada suggest its government could be well positioned to become an early mainstream adopter of Bitcoin. Thursday, Nov. 17 recorded the biggest attendance ever at the Toronto Bitcoin meet-up. Earlier on the same day was a meeting between Jason Cassidy, president at Crypto Consultant, who is quickly becoming a Bitcoin ambassador in Canada and the Ontario Securities Commission (OSC). The meeting was a move to work with the commission towards cryptocurrency legislation in Canada. He says: “Bitcoin and Blockchain awareness appears to be reaching a tipping point in Canada.” Everyone seems to be involved Cassidy explains that the increased interest in the world’s first truly decentralized digital currency seems not to be limited to enthusiasts and tech pioneers. The Government of Ontario is now taking an active role in helping to shape future legislation for Bitcoin and digital currencies, a trend that he says will become commonplace over the next few years as mainstream acceptance becomes a reality. Cassidy describes this development as groundbreaking steps in the right direction, as it opens the door for collaboration with various levels of government. “We are now at a point where, to grow the ecosystem further, we must work diligently …

Bitcoin Privacy USA Anonymity Government Transactions Coinbase Identity

Bitcoin Anonymity Over? United States Government Seeks Identity, Transaction Records of Coinbase Users

admin Anonymity, Bitcoin, Government, In the News, Privacy, Taxes, United States Of America, USA 0 Comments

The U.S. government is seeking the identity of Coinbase users for tax purposes, sparking fears that Bitcoin’s anonymity may be compromised. According to a legal summons filed in the Northern California District Court, the U.S. Internal Revenue Service (IRS) seeks to identify several Coinbase users and their financial activity, based on evidence that they may have violated U.S. tax laws: “Based upon a review of the petition and supporting documents, the Court has determined that the “John Doe” summons to Coinbase, Inc. relates to the investigation of an ascertainable group or class of persons, that there is a reasonable basis for believing that such group or class of persons has failed or may have failed to comply with any provision of any internal revenue laws, and that the information sought to be obtained from the examination of the records or testimony (and the identities of the persons with respect to whose liability the summons is issued) are not readily available from other sources.” As indicated by the summons, two things are clear: one, the IRS has tracked Bitcoin-related activity sufficiently to be able to determine that certain users may not be in compliance with tax law, and two, this activity …

Zooko Wilcox Admits Snowden is Right That Bitcoin, Ethereum, Zcash Can Help Evade Taxes

Zooko Wilcox Admits Snowden is Right That Bitcoin, Ethereum, Zcash Can Help Evade Taxes

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There has been growing controversy over new cryptocurrency Zcash, since a tweet by Edward Snowden suggested that it will encourage tax protests. Snowden’s tweet was attached to a post by The New York Times, where Zcash was described as a “harder-to-trace virtual currency.” Snowden wrote in regard to the article: “Coincidentally, new technologies raise the possibility of unstoppable tax protests.” Selective disclosure Created by computer scientists at Johns Hopkins University and Massachusetts Institute of Technology, Zcash has been claimed to have secured $3 mln in backing from Silicon Valley venture capitalists, and its developers claim to have used advanced cryptography to create the virtual currency. Rather than coming forward as a privacy purposed entity with ulterior intentions, as has been interpreted from Snowden’s comment, the CEO of Zcash, Zooko Wilcox, describes the functionality of the cryptocurrency as “selective disclosure.” Wilcox says that this characteristic of Zcash makes it possible for businesses to conceal their private transaction details from competitors, thieves and foreign enemies, while simultaneously disclosing that information to their country’s tax authority. What Snowden really means However, Wilcox explains that he understands Snowden’s line of thought as it applies to other cryptocurrencies. “I can also see where Edward Snowden is …

The Five Most Confusing Things About Bitcoin That Hold Back Its Adoption

admin Bitcoin, Bitcoin Mining, Gold, Micro Payments, Mining, Technology, Wallets 0 Comments

Bitcoin has been around now for eight years and is maturing with a sizeable market capitalization, with more than 25 mln wallets in circulation. Adoption has benefited from post-Brexit activities, the U.S. elections and in the past week has been further boosted by events in China with currency exit and with India’s new currency reforms. Things are hotting up for Bitcoin. But is terminology holding it back? Misleading language The language used by the Bitcoin and Blockchain communities is misleading and conjures up all kinds of thoughts and images in people’s mind, often creating the wrong impression. One of the big challenges for any new technology, apart from it being mocked by the incumbents, is that people try to compare it to what they know, their reference point. The obvious is fiat currencies – the current banking system and the process of how bank accounts work. So here are the five most confusing things about Bitcoin and the answers that decode this technology and clear up the misconceptions to make it clear for all Bitcoin enthusiasts. 1. Gold coins is what it looks like Many mistakenly believe Bitcoin is a physical currency, Gold Coins with a letter B and two vertical …