Bitcoin [BTC] and other cryptocurrencies have been used for anonymous transactions by a lot of services, be it for institutional purposes or for total anonymity on the Tor network.
A recent Twitter thread stated that the Tor project should use a Lightning Node for its functioning. The Lightning Network was in the news lately after the torch was passed from Iran to Israel as a gesture of peace.
The movement of the Lightning Torch from one country to another signified Bitcoin’s transcendence of national boundaries and its complete decentralization. Famous proponents of the field such as Anthony Pompliano also came out in support of the Lightning Torch movement. He said,
“The Lightning Torch was sent to @Ziya_Sadr in Iran yesterday. Bitcoin is uncensorable money. This is a prime example.”
Despite the advantages of the Lightning Network however, the Tor Project was considered an unfit candidate as it uses BitPay for accepting Bitcoin donations. This was followed up with a new revelation by Sarah Stevenson, Fundraising Director for the Tor Project who tweeted,
“We are close to launching methods other than BitPay for donating cryptocurrency. Send me a direct message about LN so I can research more.”
Bitcoin’s Lightning Network has received a lot of praise and criticism from several quarters of the cryptosphere. Andreas Antonopoulos spoke about how the Lightning Network encompassed one of the “most powerful and underappreciated features”- splicing. Antonopoulos stated,
“… splicing allows you to do is blend the open channel, close channel and on-chain Bitcoin outputs into a single transaction.”
Additionally, Jiang Zhuoer, the founder of Bitcoin mining pool BTC.TOP, had a contrary view of the Lightning Network. According to him, Bitcoin’s long-running scalability issue will not be solved with the implementation of the LN as BTC will be locked in the LN channels. In his words,
“For example, most of funds flow from crypto exchanges to payment gateways in a unidirectional way and BTC is consumed in the channels in a short period of time. Thus, executing the open and close of the channel simultaneously in each transaction will increase transaction fees, dampening merchants’ willingness to adopt LN.”
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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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