A cryptocurrency wallet that has allegedly ‘woken up’ is in the latest Bitcoin news – mostly because of its mysterious movement and the recent deposit of $100 million in Bitcoin to Bitfinex and Binance over the course of ten days during the end of August.
The wallet, which has around $720 million – or 111,114 BTC – makes up the 0.52% of the total supply of the largest cryptocurrency. From its sudden movement, many believe that this wallet has a disruptive potential in the market price action, especially if the funds belong to one or the two likely candidates that some Reddit users are pointing out to.
A Reddit user named sleuth u/sick_silk first noticed the movement of the funds, reporting a series of posts tracking each transaction in detail, paired with graphs to show the activity. The first post was made on 31 August in which the user suggested that the funds may be connected to the now-defunct dark web market Silk Road which traded billions of dollars worth of recreational/prescription drugs, weapons, illegal pornography, malware, hacking services etc.
As the Reddit user wrote:
“It seems that the owner of a huge SilkRoad related wallet is moving funds actively since 3 days, dividing it in chunks of 100 coins by subwallets.
Last movements on these subwallets are 4 years and 5 months old (March 9th, 2014).
The chunks have been divided over time to 60,000 coins then to 30,000 / 20,000 / 10,000 / 5,000 / 500 and now 100 coins.”
Sick_silk also connected the original address to the Silk Road via the Bitcointalk thread in which users try to connect the dots to from an address operated by the DPR (Dread Pirate Roberts AKA Ross Ulbricht, creator of the Silk Road) and the one in the Reddit post over the course of six transactions.
They guessed right later in the post; it's an old MtGox whale, unrelated to Silk Road.
— WizSec (@wizsecurity) September 4, 2018
Other theories also say that these funds may belong to an old Mt. Gox wallet – which is a statement that the Bitcoin security specialists at WizSec are fully backing. What’s certain is that the movement of the funds may be at least partially responsible for the recent price decline seen in August – and potentially many others in the future.
After The First Successful Bitcoin Donation, Hamas Demands More
‘’Israel is fighting the resistance by trying to cut off its support, but supporters of the resistance all over the world are fighting the Zionist attempts and are working to find alternative methods to support it. We call upon all supporters of the resistance and of our just cause to support it through Bitcoin, through means that we will announce soon.’’The terrorist group is facing even more financial cuts than before after one of its biggest benefactors Qatar, announced a new approach towards the funding. According to The Jerusalem Post, Qatar will start from April to cut down on all fundings to the Hamas organization and will donate the funds to humanitarian projects. Starting from 2012 up to 2018, Hamas is believed to have gathered about $1.1 billion from Qatar. Another major benefactor for the fundamentalist organization is believed to be Iran. But, with the sanctions imposed on Iran by the United States, Hamas could not receive a lot of money or Bitcoin from Iran because the country was severely restricted. Since February, the fundamentalist group was able to gather $2,500 and at that time the crypto exchange Coinbase got involved into the issue. This was the case since the Israeli-based Whitestream Analytics Company claimed that Hamas’ transactions are related to wallet addresses that operate on the company wallets on the exchange. Coinbase was later almost sued by an Israeli NGO:
‘’It has recently come to our attention that the notorious Palestinian terrorist group Hamas currently maintains an account with Coinbase, Inc. through which it is accepting donations. Therefore we are writing to notify Coinbase that knowingly providing material support or resources to Hamas is a violation of US federal criminal law, and to demand that Coinbase immediately terminate any and all accounts and services provided to Hamas.’’
New Reports Show Bitcoin Mining Is 23 Times Less Expensive Than Gold Mining
“Based on historical data on energy mix and locations of cryptocurrency mining operations in China, we have shown that contrary to the common narrative, the vast majority of global Bitcoin mining capacity (minimum 77.6%) is running on renewable energy.’’Bitcoin mining is one of the main problems for consumers and users because apparently it takes up too much energy in the process and harms the environment. While it is extremely easy to talk trash about BTC usage, people still tend to ignore the other forms of currencies that also spend the same amount of energy.
Tim Draper Believes That Bitcoin Could Improve the Argentinean Economy
"We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there's a lack of confidence in this coin.”He also explained that he believes Bitcoin and blockchain are a much bigger evolution than the internet ever was and that now is the perfect time to adopt crypto technology in Argentina because it will change the entire banking, financial and commerce system. Of course, he couldn’t hold his breath and made a bold prediction that Bitcoin will be worth somewhere up to $250,000 until 2023 because people will start to use bitcoin in their everyday lives just like the dollar or the peso but they will opt for bitcoin because it is decentralized and global. Meanwhile, Argentina has adopted multiple projects from the blockchain world when at the start of the Month, the government of Argentina agreed to be a co-investor in blockchain projects that were backed by Binance Labs and the crypto exchange LatamEx. Binance is also planning to open a new fiat to crypto exchange in Argentina. Back in February, Argentina made a deal in Bitcoin to export pesticides and fumigation products in Paraguay worth $7,100. The deal was paid in bitcoin and later converted into Argentine peso.
Crypto Trader DataDash Says That Bitcoin Is Near A Bottom: XRP, ETH, TRX & XLM Analysis
“We’re going to need to see much more substantial price action for Bitcoin to be considered in a bull market. So we’re in neither really a bear market as of the last few weeks, and we’re also not in a bull market. Again, we have to see a justification of price on either side,” he said.The video can be seen below. https://www.youtube.com/watch?v=lYuqusvMfDM According to his analysis, the current market conditions indicate that it will take a few weeks or months for Bitcoin to regain its momentum. Ripple and XRP, on the other hand, are also pushing to expand their presence in new territories. When it comes to the latest news around Litecoin, we have Jon Moore known as 'Johnny Litecoin' who recently showed the new integration of Litecoin with the payment system Clover. https://twitter.com/jonnylitecoin/status/1108158066892128256 As you probably know, the Clover platform offers free open-source code that allows merchants to implement custom third party payment options. When it comes to Stellar (XLM) and Tron (TRX) as the other altcoin gainers, XLM has recently powered IBM's World Wire remittance platform - while Tron (TRX) and its community have recently expanded to Beijing and are constantly in the latest cryptocurrency news for their blockchain advancements.
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