Connect with us

Blockchain

Why Privacy Coins ? because bitcoin is not a solution anymore

Published

on

Why you ask are Privacy Coins under attack after so many years? because bitcoin was once the privacy solution dream we all had for freedom. Today with millions of dollars being spent on Blockchain Analysts by government bodies of all kinds, we see that bitcoin can be private if users follow privacy practices at home such as using VPN’s, Tor, I2P, Secure Operating Systems, Firewalls, etc.

Most people do not even know that their privacy is compromised once sending a coin from one exchange to another. We are all learning quick and if bitcoin the prototype of all chains cannot do it for people then we need a solution that gives people financial privacy protections in cryptocurrency transactions by default. Pirate Cryptocurrency has privacy by default and a community team that focuses on protecting the user unlike so-called privacy coins like Zcash. They even built an operating system to make the most anonymous coin and the most secure coin in crypto even more private for you the user. 

With the enhancing understanding of cryptocurrencies, the question of exactly how to regulate them has been the primary centerpiece for regulators. Generally viewed as money for making illegal purchases, regulatory authorities have a feeling of seriousness to create stringent guidelines concerning their usage, traceability, as well as how they’ll be exhausted.

Each nation has its own controlling body pertaining to tax obligations, yet due to the United State’s influence on the rest of the world, the choices of the Internal Revenue Service held a good deal of persuading.

When Bitcoin was developed 10 years ago, the general suggestion behind it was to develop a form of digital cash that did away with all intermediary services. In other words, genuinely peer-to-peer money. Fast forward ten years and also Bitcoin, together with many various other altcoins, have produced an extensive splash on the planet of conventional controlled financial mediocrity. 

This upending of the status quo has sent out regulatory authorities with the IRS scrambling to figure out where cryptocurrencies lie. Are they a financial investment? A property? Spendable cash? Do they represent resource gains? Should they be a Security? These are all questions still being disputed, and also yet, the IRS in addition to significant exchanges such as Coinbase case that you carry out, in reality, owe taxes on them.

Because of the total absence of quality, customers will certainly be much better protected if they guard their digital wealth, firstly, prior to also thinking about paying the IRS and their rash digital currency tax obligation strategy.

The Very Best Blockchain to Anonymize Your Crypto

When it concerns keeping your crypto wealth undamaged, there isn’t a better option for anonymizing your accounts than with a purely privacy-oriented cryptocurrency. After cycling via the code and each blockchain’s major anonymizing features, Pirate Chain attracted attention among the remainder.

Pirate Chain defeated better-known money such as Monero, Zcash, PIVX, Komodo, and also Zen Cash money. Although Pirate Chain is based on Zcash and also Komodo, it executes its own distinct functions that permit it to shine in offering its customers total freedom.

Pirate Chain uses the state-of-the-art zk-SNARKs to obfuscate addresses when producing transactions. The cryptographic version allows for both ends (sender and receiver) to become totally confidential. This feature of privacy is finished all while allowing network consensus to validate the transaction and also enter it into its journal; all without ever compromising its customers.

Although Zcash was the initial to bring zk-SNARKs to the remainder of the crypto community, they failed to only enable personal purchases. Instead, most customers on the Zcash blockchain use the public send out address, which is inherently not private.

An additional primary concern is that most of the exchanges that hold Zcash already stated that they will not make use of protected (personal) addresses to keep users anonymous. Pirate Chain, on the other hand, will just allow confidential deals; consequently never ever compromising its customers financial privacy.

Recently, Coinbase has actually provided tax letters, worrying lots of movie critics as well as drawing conclusions that Coinbase is, as a matter of fact, attempting to keep themselves in excellent standing with regulatory authorities. Surprisingly sufficient, Zcash is a provided crypto on Coinbase, and also although the very first to clarify zk-SNARKs, the exchange has actually currently revealed they will not honor protected addresses.

This also comes with a time where there are lots of blockchain evaluation groups that have been contracted by firms such as the IRS as well as other regulatory and also financial establishments. These firms are used to compile data on crypto individuals, and also to properly match public wallet addresses with individual recognition.

This breach of trust is only another reason in a long list of why blockchains such as Pirate Coin are necessary. Making use of a privacy-based cryptocurrency doesn’t mean you have anything to conceal, it just implies that you hesitate to allow a regulatory body to control your digital wealth.

It can just be thought that agencies such as the IRS will continue as well as step up their initiatives to tax obligation individuals on their crypto holdings. Whether you feel that this is underhanded due to crypto’s decentralized as well as stateless nature, or if you assume that the Internal Revenue Service needs to formulate a better understanding of digital properties clearly, it’s best to remain anonymous to safeguard your hard-earned electronic riches.

How to Guard Your Digital Wealth Against the IRS

First, you will want to obtain Pirate Chain tokens (ARRR) on a digital exchange. The only exchange providing a pair with BTC or KMD is Digital Price and quickly to be Crypto Bridge DEX. As soon as you’ve traded your BTC or KMD for ARRR, you might now download the Pirate Chain Purse.

Alternatively, you can begin mining ARRR promptly using a GPU or ASIC miner. Block benefits are 256 ARRR with a new block happening every 60 seconds.

As soon as you’ve acquired ARRR by getting or extracting, you can currently send it to your indigenous Pirate Chain Budget. You can download and install any kind of variation from https://pirate.black/. As soon as you’ve downloaded and installed the Agama or KomodoOceanQT wallet, you can run it in Pirate indigenous setting.

Alternatively, if you wish to be a more protected pirate using the latest version of GhostShip which is PirateChain’s newest operating system provides tons of security for the individuals’ end. Such as Drive file encryption, Tor, VPN’s, MAC Address Spoofing as well as more. Plus the blockchain loads in 2 mins without having to wait for the chain to sync.

Currently, you prepare to negotiate completely confidential funds with Sapling addresses. This means that your electronic wide range is safe and secure due to the fact that you are the only person that recognizes its location address.

No longer will blockchain analysis teams have the capability to trace your electronic motions. The Internal Revenue Service will certainly additionally be not able to declare that you hold any type of digital crypto because you have successfully made it go away.

Up until the launch of Pirate Chain, lots of customers were attempting to anonymize their cryptocurrencies via bitcoin mixers as well as peer-to-peer networks such as LocalBitcoins. These services have essential defects that don’t properly resolve the issue of total privacy. The reasons being because of settlements through debit/credit cards or due to pure aggravation as well as a lack of count on.

Eventually, the safest approach to secure your digital wide range versus the IRS is by making it vanish. Pirate Chain has revealed that it can effectively do what other blockchain systems have failed to do. By creating a strictly private-send only cryptocurrency, Pirate Chain has actually shown that its main focus is keeping its users anonymous.

The post Why Privacy Coins ? because bitcoin is not a solution anymore appeared first on Crypto Core Media.

Source: https://cryptocoremedia.com/privacy_coins/

Blockchain

Israeli Draft Bill Would Nix Hefty Capital Gains Taxes on Bitcoin

Published

on

Israeli bitcoiners take note: a handful of Knesset members are seeking to ease Israel’s hefty taxation of cryptocurrencies.

Four Knesset members from the nationalist Yisrael Beiteinu party on Tuesday introduced a draft bill that would effectively end Israel’s 25% capital gains tax on bitcoin by redefining certain “distributed digital currencies” as currency, instead of a taxable asset.

Source: https://www.coindesk.com/israel-bitcoin-tax

Continue Reading

Blockchain

Robinhood App Supports Screen Widgets on iOS 14

Robinhood widgets can be pinned to the home screen in various spots and sizes, allowing for many different layouts.

Published

on

Robinhood’s application for iPhone has received a notable update today after Apple introduced ‌the concept of Home Screen‌ widgets in iOS 14, which provide information from apps at a glance.

As announced on the free-commission app’s blog, Robinhood widgets now allows users to check on their portfolio, holdings, and more, without having to tap into the app.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

Robinhood widgets can be pinned to the home screen in various spots and sizes, allowing for many different layouts. Users can also place their investment app next to other everyday apps or create an entire screen with their favorite Robinhood destinations.

Updates bring many exciting features to the app users on iPhone, iPad, and Apple Watch devices. Specifically, Robinhood’s new widgets enables users to track their investments, gain additional insight into their investing habits and view the information about portfolio, holdings, specific stock symbols, among many others.

Suggested articles

Swissquote Joins oneZero EcoSystem to Bolster Liquidity OfferingGo to article >>

Apple users around the world have been busy customizing their screens and sharing screenshots for the “widget gallery” where they can easily add and customize favorite apps. Prior to the latest OS version, users were only allowed to have their apps in a grid of boxes.

Despite the relative lack of 3rd party widgets at iOS 14 initial launch, some of top brands and tech giants have already released widget support. Investment apps, however, were notably absent from the early supporting apps on day one though, over time, widget support will be a standard feature for a large number of apps.

Just yesterday, Robinhood has reportedly closed a new round of capital, having raised an additional $460 million in an extension of its Series G round. In August, the quickly growing stock-trading app announced a $200 million Series G funding led by D1 Capital Partners and putting its valuation at $11.2 billion.

Robinhood has also made multiple changes to its options trading products, part of the improvements the app promised to do after one of its customers died by suicide thinking he incurred losses of over $700,000.

Continue Reading

Blockchain

Visa-backed Anchorage Loads Up on Uniswap, DeFi Tokens

Anchorage, a digital asset custody provider, has added five new DeFi tokens, including Uniswap’s UNI, to its secure storage product.

Published

on

In brief

  • Anchorage now supports custody of five new DeFi tokens: Uniswap’s UNI token, AAVE, BAL, NXM, and YFI.
  • The five DeFi protocol tokens are used as votes to control governance of their respective projects.
  • By adding DeFi tokens, Anchorage makes it easier for institutions and investment advisors to gain exposure to the DeFi ecosystem.

Visa-backed crypto custody service Anchorage has added a set of leading DeFi protocols to its service. The idea is to make it easier for institutions and financial advisors to gain exposure to the emerging alternative financial ecosystem.

Anchorage added support for five DeFi governance tokens, including the recently released UNI token connected to the Uniswap decentralized exchange. It also added tokens from decentralized exchange and indexing protocol Balancer, lending platform Aave, yield optimization protocol Yearn Finance, and DeFi insurance provider Nexus Mutual. 

These five tokens each represent a tradable stake in governance of the DeFi protocols themselves. Collectively, they have garnered billions in user funds, allowing holders to facilitate token swaps, generate loans, and/or earn interest on deposited assets. 

Anchorage holds keys to digital assets in highly secure settings on behalf of its customers. The new additions should make it easier for institutional clients and new entrants to confidently invest in the rapidly growing DeFi products. According to DeFi Pulse, value locked in DeFi has increased from less than $2 billion at the end of June to more than $9 billion today, and Uniswap’s UNI token is up more than 60% since launching on September 16.

DeFi protocols operate using automated code contained in smart contracts. They make it possible, for instance, to deposit one set of crypto assets as collateral for a loan in a different crypto asset without going through a centralized institution, like a bank. But while the protocols operate automatically, decisions like setting interest rates on deposits or creating partnerships still require human intervention. 

Governance tokens like UNI represent voting rights for those decisions. By committing, or “staking,” a certain number of tokens, users can bring a proposal for a vote or cast ballots for a particular outcome. Governance tokens are also tradable among users, making them potentially lucrative investments; as the value of the underlying protocols increase, so too should the value of voting rights to control them.

Anchorage has previously added support for other DeFi protocols, among them lending services Compound and Maker, in addition to more established digital assets like Bitcoin and Ethereum. The recent additions, however, signal a broader shift taking hold in the crypto landscape, as the utility and earnings generated by DeFi push the assets into investors’ portfolios.

Continue Reading

Trending