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Ray Dalio: Bitcoin and Crypto Get 'Too Much Attention'

 Free $100 BITC Click  Ray Dalio, arguably the most famous hedge fund manager in the world, indicated he's not putting too much faith in cryptocurrency as a hedge for anything. In an interview on "The David Rubinstein Show" on Bloomberg, Dalio reiterated that he thinks some governments will outlaw cryptocurrencies such as Bitcoin—a point on which he's been proven correct—and implied that its market capitalization is too large. He also lumped the asset class's most fervent proponents in with goldbugs. "So, I think too much attention is spent on crypto," he said. But Dalio, one of the globe's wealthiest men, does find digital assets "interesting"—and again admitted to holding a small amount in his diversified portfolio. "I think that we're now in an area where we're going to have different types of money," he said while discussing the unbundling of currency as a medium of exchange and a storehold of wealth.

U.S. SEC Delays Ruling on Grayscale’s Bitcoin ETF Application

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  A call for “written submissions” In its 10-page notice, the SEC specifically calls for “written comments” from “interested persons” from the general public to present their “views, data, and arguments” addressing the regulator’s previous concerns of market fraud, manipulation, and overall lack of transparency. The notice goes on to state that the public has 21 days from today, as noted in the Federal Register, to come forward with written data, views, and arguments on whether or not Grayscale’s application should be approved or disapproved – with an opportunity for rebuttal to any particular submission to be made within 35 days from today. For individuals interested in submitting their comments to the SEC, the notice affords the public a means to submit electronically or by paper. Those wishing to submit their comments electronically, are asked to use the SEC’s “Internet comment form” or send an email to rule-comments@sec.gov with the subject line “File Number SR-NYSEArca-2021-90...

Only 6 of 18 exchanges have fully adopted Bitcoin SegWit update

  Segregated Witness, or SegWit for short, is a Bitcoin protocol extension that was activated on the network in August 2017. The primary reason for introducing SegWit is to increase the scalability of the Bitcoin blockchain. Before SegWit was activated, the Bitcoin network often ran into congestion issues due to users filling up the one-megabyte block size of Bitcoin blocks. To mitigate congestion and increase network throughput, SegWit improves two key variables. One allows for smaller transactions so that more transactions can fit into a fixed amount of block space, the other key variable allows for larger blocks, which also enables more transactions to fit into each block. Taken together, these improvements increase the overall throughput of the  Bitcoin  network.

Crypto theft is on the rise. Here’s how the crimes are committed, and how you can protect yourself

 News emerged overnight of the potential theft of more than US$326 million (A$457.7 million) of Ethereum tokens from a blockchain bridge (which connects two blockchains so cryptocurrency can be exchanged between them). It’s no surprise. Crypto crime has been on the rise – especially since the pandemic began. How are these crimes committed? And what can you do to stay ahead of scammers? Direct theft vs scams There are two main ways criminals obtain cryptocurrency: stealing it directly, or using a scheme to trick people into handing it over. In 2021, crypto criminals directly stole a record US$3.2 billion (A$4.48 billion) worth of cryptocurrency, according to Chainalysis. That’s a fivefold increase from 2020. But schemes continue to overshadow outright theft, enabling scammers to lure US$7.8 billion (A$10.95 billion) worth of cryptocurrency from unsuspecting victims. Crypto crime is a fast-growing enterprise. The rise of the crypto economy and decentralised finance (or DeFi), coupled...

Why are people calling Bitcoin a religion?

 Read enough about Bitcoin, and you’ll inevitably come across people who refer to the cryptocurrency as a religion. Bloomberg’s Lorcan Roche Kelly called Bitcoin “the first true religion of the 21st century.” Bitcoin promoter Hass McCook has taken to calling himself “The Friar” and wrote a series of Medium pieces comparing Bitcoin to a religion. There is a Church of Bitcoin, founded in 2017, that explicitly calls legendary Bitcoin creator Satoshi Nakamoto its “prophet.” In Austin, Texas, there are billboards with slogans like “Crypto Is Real” that weirdly mirror the ubiquitous billboards about Jesus found on Texas highways. Like many religions, Bitcoin even has dietary restrictions associated with it. Religion’s dirty secret So does Bitcoin’s having prophets, evangelists and dietary laws make it a religion or not? As a scholar of religion, I think this is the wrong question to ask. The dirty secret of religious studies is that there is no universal definition of what religion is. T...
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