Join us in discussions about community-suggested opportunities and threats to Bitcoin. We go beyond Bitcoin economic theory and technological feats to discuss the Bitcoin applications that we believe will emerge. We also compile and assess risks to Bitcoin with a community developed "probability & impact" analysis.
Loki is a decentralized currency with a core objective of privacy. It offers a way to incentivise full nodes, creating a secondary private routing network for privacy-focused services. Loki services can be built on this network, such as the ability to reliably store and send private messages. Loki is based off a modified version of the Monero source code, assuring that all transactions achieve a high degree of privacy.
[uncensored-r/Bitcoin] Bitcoin economic analysis by Travis Steward
The following post by mgbyrnc is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7fe4bi The original post's content was as follows:
05-11 09:44 - 'Halving time! Some videos on YouTube: / * [On economics analysis] * [Perspective on developer] * [Ongoing livestream by Robert Kiyosaki]' by /u/prettyfascinatinghah removed from /r/Bitcoin within 11-21min
Producing a single bitcoin now costs $4060 on average, but it is valued at less than $3500, according to an analysis by JPMorgan Chase... However, this will probably cause people to stop mining, making it easier and economically viable again.
The Business Analysis tool PESTLE can be applied to Bitcoin as it has profound implications on Politics, Economics,Society, Technology, Legal, & the Environment. BTC is a net positive to society. I'm bullish.
US OFAC issues advisory: ransom payments for ransomware may involve felony charges and personal civil liability for staff.
Under the authority of the International Emergency Economic Powers Act (IEEPA) or the Trading with the Enemy Act (TWEA),9 U.S. persons are generally prohibited from engaging in transactions, directly or indirectly, with individuals or entities (“persons”) on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List), other blocked persons, and those covered by comprehensive country or region embargoes (e.g., Cuba, the Crimea region of Ukraine, Iran, North Korea, and Syria). Additionally, any transaction that causes a violation under IEEPA, including transactions by a non-U.S. person which causes a U.S. person to violate any IEEPA-based sanctions, is also prohibited. U.S. persons, wherever located, are also generally prohibited from facilitating actions of non-U.S. persons, which could not be directly performed by U.S. persons due to U.S. sanctions regulations. OFAC may impose civil penalties for sanctions violations based on strict liability, meaning that a person subject to U.S. jurisdiction may be held civilly liable even if it did not know or have reason to know it was engaging in a transaction with a person that is prohibited under sanctions laws and regulations administered by OFAC.
Sauce Here: https://home.treasury.gov/system/files/126/ofac_ransomware_advisory_10012020_1.pdf OFAC Sanctions list here: https://sanctionssearch.ofac.treas.gov/ Analysis: Both TWEA and IEEPA carries Criminal and Civil penalties, so under these acts they can fine the company, fine staff directly, or press criminal charges. We know the US Government as part of both the 5 eyes agreements and domestic bank monitoring programs under FACTA monitors all international wire transfers. Bitcoin and other cryptocurrencies generally leave a paper trail that can be traced back to who purchased the currency. What I expect to start happening here is most CFO's are going to write off the cost of the ransom as a tax deduction which tips off the IRS that a ransom of some kind was paid. I expect the next step is the IRS is going to start asking for additional proof of payment and additional information about the cases. That puts CFO's in a bind, because I expect both the IRS, and federal courts, won't let it fly that you didn't know who you were paying money to under the TWEA. They'll sit on the data, and when eventually an APT Group gets compromised, they'll trace the payments back via said tax records. At that point, if your org paid under this, that data gets used to open up a search warrant and then they rip you a new one especially if the payment was substantial. The bigger issue here is it opens up tremendous liability for security services firms and insurers who pay ransoms on behalf of clients or advise clients to pay ransoms. Now is a good time to review your backup strategy and ensure you have tested backups that are isolated from your infrastructure. For those of you with your hands tied behind your back, now is a good time to gently remind your management staff, and especially the CFO if you have their ear, that they cannot rely on the renound cryptographic competence of our eastern european bretheren, and that their worst-case risk is a determined remote attacker and adversary of the US infecting your network, destroying the data while making it look like a ransomware attack, selling you worthless encryption keys to fund their operation before flaunting the fact they took you for a fool with a press release taking credit for the attack to tip off state government you paid them in order to further disrupt the company operations via putting your talented technical staff or c-suite staff in handcuffs and injuring your PR. To those of you in the business who are afraid of being scapegoated or in a tenuous situation, getchu some evidence tape and some tags, some vanilla envelopes and a glue stick. Print 2 copies, put one copy in a folder, seal it with evidence tape and a tag, then use your handy glue stick to adhere the other vanilla folder to its back and put the 2nd copy in so you can review the paperwork without breaking the evidence seal and shove that sucker in a fire proof safe or safety deposit box. Also, Mailstore home is free. TL;DR: If your company is attacked by ransomware, tell the management only facts of the occurance you know, what you can and cannot do for them, and don't advise them of anything upto and including getting a security services firm involved. I wouldn't even tell them paying the ransom might work. If you're going to have a verbal conversation, make it a one-on-one. Happy Saturday all!
Follow the Bitcoin price live with the interactive, real-time chart and read our expert articles on the latest BTC news, forecast and technical analysis. An Economic Analysis of the Bitcoin Payment System Gur Hubermany Jacob D. Leshnoz Ciamac Moallemix September 30, 2020 Abstract Bitcoin provides its users with transaction-processing services which are similar to those of traditional payment systems. This paper models the novel economic structure implied by Bitcoin’s innovative decentralized design, which allows the payment system to be ... One popular economic model has also revised its BTC outlook due to the stronger-than-expected post-halving price action, now forecasting that it could soon be trading at multiples of its current price. Bitcoin’s Ongoing Consolidation May Not Last for Too Much Longer. At the time of writing, Bitcoin is trading down marginally at its current price of $9,680. This is around the price level at ... As the chart below shows, the S&P 500 has lost 2.5% (from 3550 to 3460) since October 12. Bitcoin has gained 14% in the same period. From the economic point of view, BTC stops falling in sync with ... Bitcoin Revolution: Legal-Economic Analysis on Cryptocurrencies and Blockchain Technology May 28 2020 · 14:04 UTC Updated Jun 16 2020 · 16:14 by Andy Watson · 4 min read Photo: Shutterstock
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