If you haven’t heard about it, CoinJoin is a method of anonymising Bitcoins that one developer named Gregory Maxwell came up with in an effort to help Bitcoin users to remain anonymous. This method is in the daily Bitcoin news because of its idea, which helps two users who want to make a transaction – and therefore have their data kept anonymous (completely private).
So in a nutshell, the CoinJoin method involves transacting Bitcoins with maximum anonymity. On yesterday’s 10th anniversary of Bitcoin, a CoinJoin worth over $200,000 was sent, making history and making the first-ever transaction that was moved from one address to another.
The join involved 14.8 BTC transacted, moved to the address named bc1qqcrmkvp97ryyvfu3crp6883v5caunq6v2960sc. The transaction was originally initiated by the Wasabi Wallet developer Adam Ficsor and officially announced on his Twitter profile.
The largest CoinJoin in the history of Bitcoin has just been created. Exactly 10 years after its whitepaper. Beautiful!https://t.co/DaTXrey12h
— nopara73 (@nopara73) October 31, 2018
Meanwhile, the Wasabi Wallet project is a desktop Bitcoin wallet that focuses on enhancing the privacy of BTC transactions through the use of CoinJoin and other methodologies – owned by an organization named zkSNACKs.
So, the Wasabi Wallet has CoinJoin built in – and in order to participate in a CoinJoin, one user must be transacting more than 0.1 BTC.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Scott Galloway Of UCLA Believes Crypto Will Get Worse In 2019
‘’VR and crypto go from bad to worse. AI fails to live up to the hype. 3D printing rises from the ashes. Smart cameras become a hot category.’’His assessment seems to be accurate but can the crypto market prove to be the odd one out? This can be so since many industries are really committed to the crypto sector. Companies such as Fidelity, ICE, and Nasdaq have funded at least five projects in the crypto space over the past year. Venture capitalist Jim Breyer even said:
“So many of the very best computer scientists and deep learning Ph.D. students and postdocs are working on blockchain because they have so much fundamental interest in what blockchain can mean. You don’t want to bet against the best and brightest in the world.’’
Pantera Capital CIO: “Bitcoin Will Not Succeed As Money”
"Bitcoin created the ability to send money around the globe cheaply and easily without having to trust a third party," Krug was confident.He also went on to discuss several revolutions in the past, from the information revolution triggered by printing press up to the telegram, telephone, radio, television and finally, the Internet. When asked about finance, Krug believes that the industry has made leaps of progress such as increases in execution speeds, online user interfaces, brokers etc. However, he stated that a financial revolution powered by the blockchain could advance us into a next era where money, value and finance will all be coordinated thanks to crypto.
"This infrastructure will be borderless, cheap, quick, and, most importantly, will let people trade on things they’ve never been able to exchange before, and if markets for those don’t exist yet, it’ll let them create it," Krug concluded.
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