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TNABC Miami’s Eighth Annual Conference Goes Virtual, Event Underscores Technology’s Important Role

16/01/2021 by Idelto Editor

On January 28-29, 2021, The North American Bitcoin Conference (TNABC) is preparing to kick off its eighth exhibition with another cryptocurrency and blockchain-focused event. The event organizers have lined up more speakers than ever, as this year’s TNABC is going to be 100% virtual due to the ongoing coronavirus pandemic. TNABC’s creators say that this year has truly shown us all “how resilient a global crypto economy can be.”

The North American Bitcoin Conference is coming back full throttle this year, as organizers say the team has curated a line-up of some of the biggest names in the crypto and blockchain industry. This year’s TNABC will be the event’s eighth annual conference, but the Covid-19 pandemic has made it so 2021’s TNABC will be hosted online. The hardships have been difficult this year, but there’s still a great need to press on in order to spread the benefits of these extraordinary technologies far and wide.

“With cryptocurrencies reaching all-time highs, it’s our responsibility to share knowledge and make sense of the ever-changing global landscape,” the 2021 TNABC website notes. During the last seven years, The North American Bitcoin Conference has hosted a wide range of speakers from crypto company executives, venture capitalists, blockchain developers, and the movers and shakers making things happen in the blockchain space.

2021’s TNABC event page details that the team of organizers lined up a myriad of big name speakers from around the world to “deliver a compact masterclass on the state of cryptocurrency.”

Well known crypto and blockchain evangelists speaking at this year’s TNABC include Bitcoin.com’s founder Roger Ver, IOHK founder Charles Hoskinson, Monero core developer Riccardo Spagni, Polymath CEO Trevor Koverko, OB1 CEO Brian Hoffman, blockchain entrepreneur Brock Pierce, Freeross.org founder and political activist Lyn Ulbricht, Edge founder and CEO Paul Puey, Binary Financial’s Harry Yeh, Bloq chairman and cofounder Matthew Roszak, and Bitwage founder and CEO Jonathan Chester.

This week, TNABC host and Keynote founder and CEO, Moe Levin, discussed the upcoming virtual conference with news.Bitcoin.com. “The fact that we are all able to join this event, many at short notice, from all over the globe, most if not all of our plans made from our phones, shows me how rapidly our world has changed in recent years and what an important role technology now plays in our lives,” Levin said. “It also shows me how ready the world is for a new technology that is as international and as mobile and as easy as the rest of the technology in our lives.”

The TNABC host and Keynote founder added:

It shows me that it’s time to move forward with blockchain and cryptocurrencies and give the world a technology befitting of our current age. And thanks to the great reception we’re seeing online, it shows me that others feel the same way.

TNABC organizers also detailed that even though participants can’t have a drink together in Miami, the event will still host online networking. In addition to keynote speakers, the conference will also focus on debates between global change-makers, thought leaders, and industry insiders.

News.Bitcoin.com readers can obtain tickets to TNABC 2021 here and after acquiring a pass, participants will get a unique join code and link to register on the event platform on January 25-26, 2021. TNABC organizers have also created a comprehensive guide and what to expect at this year’s conference.

What do you think about the 2021 TNABC event? Let us know what you think about this subject in the comments section below.

French Programmer Sent Bitcoin Donations to Far-Right Activists Who Participated in the US Capitol Riots

16/01/2021 by Idelto Editor

French Computer Programmer Sent Bitcoin Donations to Far-Right Activists in 2020 Who Participated in the US Capitol Riots

A crypto forensic analysis reveals that a French donor sent over $500,000 worth of bitcoin (BTC) to far-right activists in the United States. The half-million dollars went to the groups that took part in the pro-Trump riots in the U.S. Capitol.

Alt-Right Personalities and Websites Are Included on the List of Recipients

According to Chainalysis, the unnamed donor sent 28.15 BTC (worth $522,000 at the transfer time) on Dec. 6, 2020, to 22 separate addresses in a single transaction. Per the report, many of those wallets belong to personalities tied to far-right activists in the U.S.

Yahoo News detailed that Vdare (anti-immigration organization), the Daily Stormer (right-wing website), and Nick Fuentes were among the crypto donation recipients. Alt-right streamer Ethan Ralph is also on the list that Chainalysis published regarding the half a million dollar donation.

The blockchain analytics firm clarified that there is no evidence yet on Fuentes’ participation in the Capitol’s riots. However, it quoted previous statements from him asking people to protest Congressional certification of Joe Biden’s victory.

But Chainalysis still highlighted that a BTC donation worth over $250,000 sent on Dec. 8, 2020, is by far the largest crypto donation Fuentes has ever received.

Donor Might Have Committed Suicide After Arranging the BTC Payments

Regarding the French donor’s identity, there is information that the wallet used to arrange the payments has been active since 2013. The blockchain analytics firm suggests he could be a “relatively early adopter of bitcoin whose holdings have grown in value significantly.”

One of the BTC addresses associated with the donor’s wallet is registered on Nameid — a service that allows users to associate their online identity with their BTC address.

Chainalysis found that the crypto donor is a French computer programmer after searching through his email address. After he sent the donations, he published what seems to be a suicide note on a personal blog. The report, which indicates the motivation behind his donations, reads:

He mentions that he has ‘bequeathed [his] fortune to certain causes and certain people,’ and cites several alt-right talking points in his analysis of the world today. For instance, he states his belief that ‘Western civilization is declining,’ and claims that Westerners are encouraged to hate their ‘ancestors and heritage.’

According to Yahoo News, Federal authorities and law enforcement agencies are also investigating the source of funds.

What do you think about the findings by Chainalysis? Let us know in the comments section below.

Venezuelan President Maduro Promises 2021 Will Be the Year to Boost Usage of Petro

16/01/2021 by Idelto Editor

The Venezuelan president, Nicolás Maduro, has claimed that 2021 will be the year of the state-backed petro (PTR) token. He also promised to boost a “100% national digital economy” agenda through a “complete digitalization process.”

77% of Trade Transactions in Venezuela Are Made via Digital Solutions in Bolivar

During an annual speech at the National Assembly, Maduro talked about a “revival” for the petro, a cryptocurrency that some analysts have not seen any strong potentials in, at least in terms of adoption.

However, the Venezuelan president believes his economy’s agenda should boost the national crypto market and its related remittance service, Patria. He explained:

The revival of the use of petro, of all cryptocurrency systems, the use of blockchain technologies, the development of the Patria system, and the generation of new applications will set the tone for 2021.

Over the year, Maduro plans to strengthen the usage of contactless payment solutions to ride-off from cash payments. He added:

This year, we are going to facilitate the use of means of payment in national currency for public transport and all businesses, through payment systems that do not need an online connection.

The president revealed that 77% of trade transactions in the country are made via digital solutions in bolivar and 20% in cash. Moreover, he claimed that the country’s crypto-remittance platform has 21.2 million people registered as of press time.

Maduro Promises to Strengthen Blockchain Development in 2021

Maduro also hinted that he will strengthen blockchain industry development in Venezuela as part of its 2021 agenda, noting:

National and global cryptocurrency systems will set the tone for 2021, as will the use of blockchain technology in different sectors … and the development of new applications that will provide solutions to specific problems.

On Dec. 21, 2020, news.Bitcoin.com reported words from the president of the National Association of Cryptocurrencies of Venezuela (Asonacrip), who praised the bull run seen in bitcoin’s price that month. Jose Ángel Álvarez believes such rally helps the “usability of a very novel crypto asset,” including the petro.

What do you think about Maduro’s petro promises? Let us know in the comments section below.

$100 Swaps: Ethereum Dex Volumes Saw $39 Billion Last Month Despite ‘Insane’ Trading Fees

16/01/2021 by Idelto Editor

During the last 12 months, Ethereum-based decentralized finance (defi) solutions and decentralized exchange (dex) platforms have been very popular. Dex applications, in particular, have seen massive demand and during the last 30 days, dex trade volumes have reached $39 billion in swaps. However, one of the biggest issues confronting dex users continues to be the enormous fees associated with interacting with platforms like Uniswap and other dex platforms.

Ethereum’s Decentralized Exchange Platforms See Record 30 Day Trade Volumes

Dex applications like Uniswap, 1inch, Sushiswap, 0x, Matcha, Kyber, and others have been very popular platforms during the last year. The defi market aggregator defipulse.com shows that there’s over $22 billion in value locked into defi platforms today. A considerable amount of this locked ether value is also represented by dex applications and the growing user base. On January 14, 2021, stats from Dune Analytics shows that during the last month, dex trade volumes gathered $39.86 billion. Dex applications have seen $12 billion in swaps during the last seven days, and the top dex application in terms of volume is Uniswap.

Uniswap’s trade volume is followed by Sushiswap, Curve, 0x, and Balancer respectively. Every week, Uniswap and Sushiswap are seeing billions in global trade volume and Uniswap is the fourth largest defi application, according to current stats with around $2.77 billion total value locked (TVL). However, even though decentralized exchanges have seen large TVL balances and significant trade volume, the crypto community has been flabbergasted by the fees associated with Ethereum-based dex applications.

Crypto Users Complain About Massive Dex Fees

For instance, the popular Bitcoin researcher and author, Hasu, recently said that some “defi projects produce nearly as much cash flows from fees as the entire Bitcoin network does.” During the last two weeks, a great number of crypto proponents have been complaining about the massively sized fees associated with dex platforms like Uniswap and Sushiswap.

Moreover, in some cases, people have had to eat the associated onchain trading fee, but the swap ultimately fails. On January 7, 2021, the bitcoin pundit Brad Mills tweeted about paying a $120 dex trading fee.

“Just a casual $120 fee to use Uniswap on Ethereum,” Mills said. “Defi is the future of finance for the unbanked,” he added sarcastically. A few hours ago, one individual wrote: “I’m gonna go cry now over the Uniswap fees I just paid.”

In another tweet on Friday, one user explained that the “fees on Uniswap are insane— They need to figure out a way to curb this or Uniswap will plateau as a decentralized exchange,” he added while sharing a picture of the Uniswap fees on Friday.

The screenshot shows that the slowest transaction will cost $40 in ether fees, and that transaction should settle in 12 minutes. A medium-speed transaction that will settle in a single minute, costs over $58 dollars to interact with Uniswap. Moreover, the fastest confirmation time of under 30 seconds will set a trader back $100 just for the fee. “Oh my god these Uniswap fees are insane…,” another person tweeted on Friday afternoon. Another person complained and said they wanted to trade but dex fees are too high.

“I wanna start trading on Uniswap, but I’m not rich yet so….fees. Any alternatives?” the person asked.

Of course, throughout all the discussions about the high dex fees, a great number of crypto community members shilled their own favorite blockchain with claims of lower fees. Despite Ethereum’s colossal lead in the decentralized finance (defi) space, many people believe the network will falter if fees are not improved in the near future. One person even compared the Ethereum network to BTC’s fee and transaction congestion issues and referred to both network’s as antiquated tech.

“ETH is the Bitcoin of Defi,” explained the Twitter account dubbed ‘Green Eggs-n-Sam.’ “Old tech, failed to scale >10 yrs., fees [are a] fu**ing joke, flawed incentives, running on fumes of first-mover advantage, practically unusable w/o a centralized layer 2, all the while, superior solutions, and off-ramps are appearing left and right.” The crypto proponent’s harsh criticism actually was a fairly popular tweet with 165 likes at the time of publication.

What do you think about the recent dex trade volumes and the massive fees associated with dex application swaps? Let us know what you think about this subject in the comments section below.

New Jersey Gym Claims State Seized $173K From Bank, Owner Discusses Cryptocurrency Solutions With Tucker Carlson

15/01/2021 by Idelto Editor

On January 14, Ian Smith, the co-owner of the Atilis Gym in New Jersey appeared on Fox News with the news anchor, Tucker Carlson, and discussed his battle with the state of New Jersey’s coronavirus lockdown orders. Smith and his business partner have defied the state’s lockdown orders and remained open for months. The Bellmawr establishment has been fined $15k per day, as the company does not adhere to enforcing Covid-19 protocols. On Wednesday evening the state of New Jersey allegedly took action and seized $173,613 from the gym owner’s bank account.

Atilis Gym Owner Claims the State of New Jersey Seized $173K from His Bank Account

The co-owner of the Bellmawr, New Jersey (NJ) establishment Atilis Gym is extremely upset because he says his legal funds were confiscated by the state on Wednesday. Ian Smith and his business partner, Frank Trumbetti, own and operate the gym. Since the start of the coronavirus outbreak, the establishment has refused to follow Covid-19 protocols enforced by the state.

The co-owners of the Bellmawr, New Jersey (NJ) establishment Atilis Gym, Ian Smith (left) and Frank Trumbetti (right).

For instance, Atilis Gym does not require gym patrons to wear masks inside while working out. After refusing to follow the lockdown protocols assigned by NJ Governor Philip Murphy and the State Health Commissioner, Judith Persichilli, Atilis Gym has been fined $15k per day for remaining open in this manner.

In July, NJ law enforcement officials barricaded the Atilis Gym entrance and arrested Smith and Trumbetti for defying court orders. A week later, Smith and Trumbetti filmed themselves breaking down the barricades the state leveraged to block the Atilis Gym’s doors. Smith and his partner stress that there have been zero cases of Covid-19 traced back to the gym.

FREE MEN WILL NOT BE SILENCED.
FREE MEN WILL NOT BE INTIMIDATED.
FREE MEN WILL NOT BE OPPRESSED.

— Ian Smith (@iansmithfitness) January 9, 2021

After the $15k daily fines started to add up, the levy against the NJ establishment has climbed well over a million U.S. dollars to-date. This week, Smith tweeted that the state had upped the enforcement on Wednesday by seizing $173,613 from the gym owner’s bank account.

Smith said:

Moments ago Governor Murphy and his cronies seized 100% of the Atilis Gym legal defense money ($173,613.60) in the middle of our appeals process – effectively and intentionally interfering with our right to counsel. If you think that’s gonna make us stand down, you’re delusional.

Cryptocurrencies Are One of Most Frequent Recommendations, Says New Jersey Gym Owner

Following the tweet, a few people recommended that the Atilis Gym owner accept cryptocurrencies like bitcoin. Smith also appeared on Fox News after the funds were seized, and he discussed the incident with the news anchor Tucker Carlson.

“This is in the middle of an appeals process and ongoing litigation in the matter of the fines and several other matters regarding the state, including a lawsuit against Governor Murphy and [the State Health Commissioner] Judith Persichilli,” Smith explained to Carlson. During the episode, Tucker Carlson also mentioned the subject of cryptocurrencies.

“How long do you think they’ll allow cryptocurrencies to exist,” Carlson asked the Atilis Gym owner chuckling to himself. Continuing to laugh, Carlson further said “Sorry, it’s just a thought as they can’t seize it from you…” Smith replied to Carlson’s cryptocurrency comment and said: “No, they can’t [seize crypto].”

The Atilis Gym owner further added:

That’s actually one of the frequent recommendations for people who want to continue to donate is to set up a cryptocurrency account.

It’s uncertain whether or not Ian Smith and Frank Trumbetti will set up a cryptocurrency account in order to accept censorship-resistant donations. Whether the Atilis Gym owners do decide to accept crypto or not, the story still highlights the benefits of crypto assets like bitcoin that cannot be seized in such a manner. This is likely why digital currencies are one of the most frequent recommendations given to the New Jersey gym owners. Despite Smith’s most recent claims on Twitter and Fox News, the NJ Attorney General’s office disputes the money seizure.

“This information is not accurate,” an NJAG spokesperson told the news anchor Carlson. “The State has not seized [its] bank account funds. However, the State has obtained judgments against the owners, and intends to collect on them. Whether that affects the entire balance of the gym’s funds is a question to ask the bank,” the NJAG spokesperson added.

What do you think about the Atilis Gym owner’s problems with the state? Do you think they should accept cryptocurrencies like bitcoin? Let us know in the comments section below.