Autor Cointelegraph By Joseph Hall

Russian finance ministry official calls for crypto regulation, not restriction

Russian finance ministry official calls for crypto regulation, not restriction

Uverejnil používateľ | jan 25, 2022 |

In surprising comments made by the Russian director for financial policy, Russia could be softening its stance toward crypto. Ivan Chebeskov, a director within the Ministry of Finance, has come out in support of regulating crypto rather than banning it.His support is a response to the Russian central bank proposing a blanket ban on crypto mining and trading.According to Chebeskov, banning cryptocurrency operations and mining will lead to the country lagging behind the worldwide tech industry. The minister instead suggested that cryptocurrencies should be regulated:​​“We need to give these technologies the opportunity to develop. In this regard, the Ministry of Finance is actively involved in the development of legislative initiatives in terms of regulating this market.”The comments were made during the RBC crypto conference, taking place on Tuesday. Chebeskov said that the Russian ministry has prepared a proposal for the regulation of digital assets and is waiting to hear the government’s position on the matter. Prior to working at the Kremlin, Chebeskov enjoyed a productive career employed at Russian and European investment banks. He was a student at the pro-Bitcoin state of Texas and has spoken out in favor of digital currencies in the past. In his view, a digital rouble could compete with the likes of China’s central bank digital currency (CBD. China’s central bank released a pilot version of a digital yuan wallet in early January. Elsewhere, the private sector was also quick to rebuke the proposal, which would ban the issuance, exchange and circulation of cryptocurrencies in Russia. Telegram CEO Pavel Durov, for example, wrote that the proposed ban on crypto would “destroy a number of sectors of the high-tech economy” in a post on his messaging application Telegram. Related: Vibe killers: Here are the countries that moved to outlaw crypto in the past yearIn Russia’s neighboring countries, anti-crypto sentiment is rife. Georgian citizens were made to swear an oath to stop mining crypto, whereas top Bitcoin (BTC) mining country Kazakhstan turned off the internet amid protests. In light of El Salvador’s recent state visit to Moscow, and pro-crypto proponents such as Chebeskov popping up in the Kremlin, Russia may surprise the crypto industry in 2022.

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Orange-pilled by Michael Saylor, NorthmanTrader CEO now a Bitcoin supporter

Orange-pilled by Michael Saylor, NorthmanTrader CEO now a Bitcoin supporter

Uverejnil používateľ | jan 25, 2022 |

There is still room for humility and humor amidst a gloomy January for Bitcoin (BTC). A former outspoken Bitcoin critic has flipped bullish on Bitcoin after conversations with Michael Saylor, CEO of Microstrategy.What’s more, Sven Henrich, the CEO of market analysis firm NorthManTrader, made light of his change of heart retweeting a jibe from Twitter account Documenting Bitcoin.Excellent https://t.co/tAIwLWJfKv— Sven Henrich (@NorthmanTrader) January 24, 2022Despite his previous comments that Bitcoin “fixes nothing”, Henrich has followed the crypto markets for three years. He tweeted regularly about Bitcoin price action, offering market analysis as reported by Cointelegraph. However, he had no intentions of buying. In 2022, he is now a “supporter of Bitcoin.” That means an “exposure into Bitcoin this coming year;” pro-Bitcoin articles such as the detailed and well-researched piece entitled (R)evolution, and even laser eyes on his Twitter profile picture. But how did that happen? How do staunch anti-Bitcoin critics cross the void and commit to supporting Satoshi Nakomoto’s innovation? It appears to have kicked off when one of the biggest Bitcoin bulls, Michael Saylor, gave his two sats during a Twitter conversation between the pair. In July 2021, Saylor extended an olive branch to the CEO, demonstrating to Henrich that he should investigate BTC in more depth.Shortly after, they hosted a Youtube discussion in which Saylor does his best to orange pill the trader and investment pundit. Fast-forward seven months and Henrich is writing detailed pieces evaluating the “alternative to an imposed monetary system,” coming to the conclusion that “Bitcoin is such an alternative.”Henrich explains his current allegiance: “So to fans of Bitcoin I say this: One of you. To those that are not: Don’t hate, appreciate ;-). That’s what makes a market.”The article called “(R)evolution, why I am becoming a supporter of #Bitcoin” explains the macroeconomic backdrop, musings around regulation and the asset bubble. It is now pinned to the top of Henrich’s Twitter account. Related: JPMorgan CEO says Bitcoin price could rise 10x but still won’t buy itSaylor and Henrich recorded another in-depth discussion together on January 19th called “warming to Bitcoin,” in which Henrich affirmed that he is “looking to buy.” During the chat, Saylor urged Sven and viewers to invest more time in studying BTC. While we’ll have to wait for his announcement of his BTC purchase, it’s another win for Saylor. Undeterred by recent price action as he sets out to orange-pill the world, Saylor says, “we are going to convince everybody.”

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There’s a browser plugin that autoblocks Twitter NFT profile pictures

There’s a browser plugin that autoblocks Twitter NFT profile pictures

Uverejnil používateľ | jan 24, 2022 |

That was quick. Within 24 hours of the launch of the Twitter nonfungible token, or NFT, profile pictures for iOS update, a github contributor called mcclure has coded up and shared a browser extension that automatically blocks Twitter accounts using an NFT profile picture.The program called NFTBlocker blocks paying subscribers of the Twitter Blue for iOS service who choose to display an NFT as their profile picture. The extension works with Chrome and Firefox on desktop and while an early prototype, “future versions of this plugin will scan your notifications and do the blocking automatically.”But why would someone code up such an extension? According to mcclure’s README, it’s because NFTs are an “investment scam.”They don’t mince their words: “In short, NFT users are just irritating to be around. People who bought NFTs have to keep hyping other people to buy NFTs or the NFTs they bought will lose value. Twitter NFT cliques are rife with sockpuppet accounts, dogpiling and indifferentiable monkey clones. Blocking NFT users just makes Twitter nicer.”The web developer also recommends using the app Better TweetDek to block NFT profile picture users.Related: Crypto and NFTs meet regulation as Turkey takes on the digital futureHowever, mcclure appears somewhat misinformed about the driving force behind Twitter’s pivot to using NFTs. In the README section, Mcclure claims that Jack Dorsey “is invested in cryptocurrency and if Twitter makes NFTs more popular, Jack Dorsey will make money.”While Jack Dorsey is hugely invested in cryptocurrency, he has demonstrated little interest in NFTs since standing down as CEO of Twitter last year. He has dedicated his career to furthering Bitcoin adoption, mining and development under his new role of CEO of Block. He recently announced the Bitcoin Legal Defense Fund as well as Cash App’s integration for lightning payments.

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No regrets for NYC mayor receiving his first Bitcoin paycheck during dip

No regrets for NYC mayor receiving his first Bitcoin paycheck during dip

Uverejnil používateľ | jan 24, 2022 |

Bitcoin (BTC) is a New York state of mind thing for Eric Adams, the crypto advocate serving as the 110th Mayor of New York City. He received his first Bitcoin payout on Friday during some epic downward price action, and was unflappable when asked about losses during an interview. The Bitcoin price has taken a nosedive from Friday highs of $41,000 to $35,000, meaning Adams has effectively taken a 15% haircut on his first wages. In light of the plummeting price action, a CNN interviewer asked on Jan. 23, “How much money did you lose, and do you have any regrets?”The recently instated mayor sidestepped the question, instead shining a spotlight on Bitcoin technology while making comparisons to investing in the S&P 500: “It’s the same as when I invested in the stock market; we saw a drastic drop during 2018 and other times. The purpose of Bitcoin is to send a message that New York City is open to technology. We want to see a large amount of new technology in the city of New York and to encourage our young people to engage in these new emerging markets.”He concluded that he is excited to bring young people into the space “who have historically been denied access to this new technology.” Adams promised he would receive his first three paychecks in Bitcoin, or $97,000 annualized. In answer to the interviewer’s question, speculators can assume he lost roughly $5,000 in nominal dollar terms on Friday. That assumes he was paid roughly $32,333.It’s important to note that due to United States Department Labor laws, the payment was first issued in fiat as U.S. dollars and then converted into digital currencies on crypto exchange Coinbase. Related: Brazilian mayor to reportedly invest 1% of city reserves in BitcoinWhile the salary gesture is a promising sign for the Big Apple, New York’s crypto regulations are stringent for America’s standards. The crypto exchange Gemini says the financial center has “arguably the most comprehensive and granular crypto regulations in the nation.”The orange-pilled Mayor clearly has his work cut out. But it’s like the old saying goes, “if Bitcoin can make it here, Bitcoin can make it anywhere.”

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Nations to adopt Bitcoin, crypto users to reach 1B by 2023: Report

Nations to adopt Bitcoin, crypto users to reach 1B by 2023: Report

Uverejnil používateľ | jan 21, 2022 |

There’s a beacon of hope for battered Bitcoin (BTC) bulls. A promising report from Crypto.com predicts that global crypto users could reach one billion by the end of 2022.The report reaches the conclusion that a combo of developing nations copying El Salvador’s orange-pilled example and a “friendlier stance” towards the crypto industry means that “Nations can no longer afford to ignore the growing push towards crypto by the public.”Looking back on 2021, the global crypto population increased by 178% in 2021, rising from 106 million in January to 295 million in December. While 2021 kicked off with Tesla and Mastercard joining the party with crypto payments and adoption, BTC drove growth in the second part of the year, effectively outperforming Ether (ETH) adoption.In the run-up to El Salvador’s Bitcoin legal tender bill, August was an outstanding month for adoption as shown in the graph below:In light of the number of crypto users in 2021 tripped, Crypto.com estimates that “If we extrapolate a similar rate of increase in 2022, we are on track to reach 1 billion crypto users by the end of 2022.”However, it will take more than just one Latin American nation adopting Bitcoin and some healthy crypto regulation in the United States to get there. Related: Crypto liquidations pass $700M as altcoins take a hit from Bitcoin sinking below $40KFortunately, a recent Fidelity report agrees on nation-state adoption; they “wouldn’t be surprised” to see more countries adopting BTC in 2022. As for the second part of the Crypto.com prediction on a friendlier stance to crypto, the jury is out. Given that the potential rocket fuel that is a U.S. Bitcoin ETF continues to be rejected, and the recent U.S crypto mining hearing was cautious at best, Crypto.com’s predictions are a saving grace. As price action grinds lower, the report is welcome hopium for hodlers.

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