Litecoin [LTC]’s Charlie Lee: MimbleWimble is a good way to get privacy and scaling

Recently, a cryptocurrency known as Grin was launched in the cryptocurrency space. The coin grew to be one of the most controversial cryptocurrencies in the space within hours of its launch. The credit directly goes to the protocol the coin is based on, MimbleWimble.
The protocol was initially introduced to solve the scaling and privacy problems in Bitcoin, by an anonymous developer Tom Elvis Jedusor. Interestingly, both the pen name and the name of the technology are an inspiration from Harry Potter. The developer ensured that privacy would be the core of this technology.
More so, the protocol makes sure that apart from the information that is absolutely required to confirm a transaction, no other information is revealed, including the addresses involved in the transaction and the amount of cryptocurrency involved in the transaction.
During the sixteenth episode of Magical Crypto Friends, Charlie Lee, the creator of Litecoin, Riccardo Spagni, the lead developer of Monero, Samson Mow, the CSO of Blockstream, and Whale Panda, discussed the new privacy-oriented coin. Here, Lee opined about the technology that made the coin one of the most controversial ones in the space. He said:
“I think MimbleWimble technology is actually pretty cool. So when I first learned about it, seems like a good way to get both privacy and scaling and privacy that doesn’t make scaling hard or much worse which is very cool. So I’m yeah happy to see where where this technology goes”
This was followed by Riccardo Spagni aka FluffyPony speaking about Grin’s mining, which drew the attention of even the VCs. Spagni said:
“If you look at at Grin’s economic design it’s clearly designed to be currency. It’s designed to have this crushing inflation so that you’re forced to spend it so hodling is not really part of the economic design. So, they’re throwing money at it because they know that there’s be hype and that, you know, the moms and the pops would eventually go in to buy it.
The post Litecoin [LTC]’s Charlie Lee: MimbleWimble is a good way to get privacy and scaling appeared first on AMBCrypto.
Source: AMB Crypto

Another Hard Fork Coming for Monero [XMR]? Analysis says ASIC Dominates Monero Hashrate

According to the latest analysis, Monero, the privacy-focused cryptocurrency which is known for using ring signatures to obfuscate the actual sender of a transaction is dominated by ASICs, and if it is indeed correct, Monero community would have to make a decision, once more.
In the analysis performed by MoneroCrusher, a pseudo-anonymous user suggests that 85 percent of the Monero network is mined through ASICs. The author notes that nonce distribution due to some reason was not chosen in a random fashion as it should be, a random number between 0 and 2^32.

“Once the April fork kicked in you can instantly see the hashrate dropping dramatically and the thick white stripes gone instantaneously. Thus we can conclude that the thick white stripes were nonces picked by pre-fork specialized hardware or in simpler terms: ASICs.”
Now, the author says on the basis of the analysis, the ASICs did not choose nones randomly rather intentionally tried to conceal them by selecting the pattern that existed before ASIC. But with ASICs dominating the Monero mining, it became obvious that a large number of blocks were producing a distinct pattern.
ASIC Manufacturers Got Smart
Back in April, last year, Monero had a hard fork and implemented a new algorithm to prevent ASIC domination. At that time, the hashrate dropped dramatically and ASIC domination could be seen but within a few days the hashrate went up again to about 480 Megahashes per second.
Moving to June, the author says, specialized hardware came online again that was barely noticeable.
“There’s a “wall” of suddenly increased randomness, meaning that the ASIC manufacturers had learned from past mistakes and implemented random nonce picking. The thing is that in its decentralized, “natural” state, the nonce picking in the Monero network isn’t that random.”
As ASICs became more dominated as evident from the “over-randomness” and GPU miners left for more profitable networks.
In December, there has been a sudden increase of nonces in the sub 1.342*10⁹ area while other areas decreased dramatically meaning small mining operations get shut off, “while all the network hashrate centralizes in the hands of the ASIC owner(s).”
“At the time of writing the network hashrate has increased to 810 Mh/s or 255% since the first signs of the ASICs at the end of December 2018, or approximately 40 days ago.”
The author concludes that “the current network hashrate likely consists of 85.2% ASICs (5400 ASIC machines) and some die-hard GPU miners and botnets.”
Although Monero is determined to remain ASIC resistant, many in the crypto space say the fight against ASIC miners won’t last long. ASIC may be inevitable and if they do have the 85 percent of the network hash rate, Monero community has to decide, if it will yet again go for the hard fork route.
The post Another Hard Fork Coming for Monero [XMR]? Analysis says ASIC Dominates Monero Hashrate appeared first on Coingape.
Source: CoinGape

Monero [XMR] is designed to be a privacy preserving currency, says Riccardo Spagni

Riccardo Spagni aka FluffyPony, the lead developer of Monero and the CTO of Tari, spoke about Monero and its privacy protocol, in an interview with Forbes.
Spagni has always been a well-known advocate of the privacy coin and privacy itself, with the developer even remarking that privacy is a “basic human right” on several occasions. More so, during an interview with WhatBitcoinDid, FluffyPony revealed that the privacy aspect of the cryptocurrency was one of the main reasons that lead him to choose it over Bitcoin [BTC].
Here, he stated that the coin was doing something “concrete for privacy” and that the coin has pushed forth the privacy barrier. Apart from the privacy aspect, Spagni also stated that he went over to the Monero side because the coin was not based on the Bitcoin codebase.
Speaking with Forbes, Spagni continued to stand by his beliefs pertaining to privacy. He said:
“I’m a big advocate for personal privacy. I think that it should be a basic human right. The way all our data has just sort of been splurged online through hacks and compromises and malware and sometimes our own stupidity, we’re in a situation where privacy-preserving projects are a necessity”
Along with contributing to the development of the privacy coin, FluffyPony has also talked about the need for a privacy-preserving protocol for Bitcoin, wherein he had stated that privacy is the one factor setting Bitcoin and Monero apart. He had also stated that if there was an implementation for preserving privacy on Bitcoin, then it would be an “excellent feat of engineering.”
In order to push the privacy aspect of Monero ahead by implementing Tari protocol as a sidechain of Monero, Tari will also be implementing MimbleWimble protocol, introduced to solve the privacy and scalability problems of Bitcoin.
To add on, the lead developer also opined on auditing Monero’s transactions. He said:
“Monero is auditable. You can take the view key and you can give it to a third-party auditor or the IRS. Since the view key feature is cryptographically linked to your wallet, there’s a guarantee no one can manipulate or hide certain transactions associated with the wallet address”
Apart from this, during the recent interview, Spagni also opined whether Monero is an investment or not. He said:
“Monero’s probably not an investment. It’s designed to be a currency, and in particular it’s designed to be a privacy-preserving currency.”
The post Monero [XMR] is designed to be a privacy preserving currency, says Riccardo Spagni appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR] isn’t an Investment – Use it as Currency, Project Lead Riccardo Spagni Advised

Those who consider Monero (XMR) as an investment, may change their opinion following the discussion of Monero developer with Forbes, Media. Riccardo Spagni, who is working as Developer for Monero claims that ‘it is not an investment but a currency’.
Use it as Currency, Not Investment
“Monero’s probably not an investment. It’s designed to be a currency, and in particular, it’s designed to be a privacy-preserving currency.” Said Spagni
According to Spagni, XMR is not designed as an investment vehicle rather a currency integrated with specific privacy features. Spagni is contributing his best effort to Monero since its early days. For him, Monero is more than a digital asset – expressing his sentiment, he says;
“I’m a big advocate for personal privacy,” “I think that it should be a basic human right. The way all our data has just sort of been splurged online through hacks and compromises and malware and sometimes our own stupidity, we’re in a situation where privacy-preserving projects are a necessity.”
Stance on Privacy and ICO
Unlike parties involved in Bitcoin transactions can view the private keys on the blockchain, Monero is quite more privacy-centric, he said. Such action is stiffer in Monero. In fact, he explains that various methods have been employed to assure the security of transactions. Few of those methods are one-time stealth addresses, ring signatures, and ring confidential transactions.
Although privacy in Monero is at its core, Spagni adds that auditing of Monero transactions can be possible without even spending funds. One can do that by using ‘view key’ and giving it to the third-party auditor or the IRS. Besides privacy, the developer also discussed ICO. Spagni is also contributing to an event ticketing company, Tari as the Chief Technology Officer. Speaking to Forbes spokesperson on ‘ICO related question’ for Tari platform, he says;
My problem with ICOs is not the act of selling targets, it’s that it’s being done in an environment where there is a lot of murkiness both from a regulatory and an ethical perspective.
Taking a stance against ICO, Spagni further notes in a Reddit announcement that;
“I’ll slay you where you stand.,”
The post Monero [XMR] isn’t an Investment – Use it as Currency, Project Lead Riccardo Spagni Advised appeared first on Coingape.
Source: CoinGape

Monero [XMR] among the top viewed coins on Wikipedia alongside Bitcoin, Ethereum, and XRP

Monero [XMR], one of the most popular privacy coins, has been losing its position in the market in terms of price. The coin that once belonged in the top 10 club is currently the thirteenth-largest cryptocurrency by market cap. Moreover, the coin has lost almost 90% of its value since its all-time high, which was recorded in December 2017.
Despite the massive plunge in its price, Monero continues to be one of the top eight coins by daily views on Wikipedia, according to DataLight, a cryptocurrency data analytics platform. During the timeframe of December 24, 2018 to January 24, 2019, Monero has ranked the sixth most viewed coin on Wikipedia. The coin has a total of 17, 208 views between this time period.
Source: DataLight Twitter
Dreamer2020, a Redditor said:
“Nice! One note, the stats of wikipedia can’t be compared nice. BTC is older so the most views. Also XMR is not new, but nice place. It surprise me that BAT is so high.”
Gr8ful4, another Redditor said:
“XMR is severely undervalued. All 150k Monero redditors are lucky bastards for knowing about the qualities of Monero so early in the game!”
Velvia695, a Reddit user said:
“I bet a lot of that traffic is from Norway. All media outlets here are talking about it since the billionaire wife kidnapping case.”
Earlier this month, news broke out that $10 million in Monero [XMR] was demanded as ransom in Norway by kidnappers. Elisabeth Falkevik Hagen, spouse of one of the richest men in Norway was kidnapped from her house. The case drew a lot of attention as the victim was missing for more than ten weeks and the police failed to find any evidence related to her safety.
Surprisingly, Basic Attention Token [BAT] has taken the third position in this list. The coin has a total view of 27, 093, during the one-month duration. The cryptocurrency recently hit a market capitalization of $155.88 million.
According to the data, the most viewed cryptocurrency is Bitcoin [BTC], the largest cryptocurrency by market cap and the very first one, with 295,351 views. The coin is followed by Ethereum [ETH], the leading smart contract forum and the third-largest cryptocurrency, with 46,161 views.
XRP, the second largest cryptocurrency, has also made it to the list with over 21,544 views. The coin is followed by BCH on the fifth position with 19,720 views on Wikipedia. Dogecoin [DOGE] and Litecoin [LTC] have taken the seventh and the eight position, with 15,922 and 11,455 views to their respective Wikipedia pages.
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Source: AMB Crypto

Crypto and Bitcoin Ransom: A Rapidly Growing Trend

Between wild price volatility, the fear of Bitcoin-stealing malware, the risk of having assets left on an exchange that could become a target of hackers, and so much more, crypto investors are stuck looking over their shoulder at every turn.
Cyber criminals are pulling out all the stops, doing everything from creating fake websites, to hacking Twitter accounts of or impersonating public figures, in order to separate an investor from their crypto assets.
Last year, cryptojacking cases spiked, and social media platforms were rife with cryptocurrency giveaway scams. Now, cyber criminals are increasingly turning to crypto ransom schemes, demanding a sum of Bitcoin or other cryptocurrency, or else the cyber criminals will follow through with a serious threat.
Bitcoin Bomb Threats, Kidnappings, and More: Criminals Are Turning to Crypto Ransom
Within the last month alone, there have been widespread cases of Bitcoin ransom letters terrorizing the United States and Canada, a $10 million ransom in Monero in exchange for the safe return of a Norwegian millionaire’s wife, and in this latest example, a nearly $1 million ransom in Bitcoin was paid, yet the American individual at the center of a kidnapping case wasn’t returned safely as the criminals promised.
The owner of online gambling site 5Dimes, William Sean Creighton Kopko, has been missing since September 24th, according to authorities in Spain. The American businessman was visiting Costa Rica, when he vanished suddenly without a trace.
Criminals contacted Kopko’s family demanding a $950,800 ransom be paid in Bitcoin. Kopko’s family paid the ransom, and as many as 12 individuals have been arrested due to their alleged involvement in the case, yet Kopko has still yet to be returned safely. Cyber criminals have stopped all communication with the family after the ransom was paid, leaving the family and investigators with little to go on.
Related Reading | Monero and Privacy Coins Are Creating More Efficient Criminals
A similar case involving the wife of one of Norway’s wealthiest men was demanding $10 million in the privacy-centric crypto Monero for her safe return, however, authorities instructed the man not to pay the ransom, and instead were asking the public for information to help their investigation.
Before the close of 2018, the entire United States was up in arms over widespread Bitcoin-related bomb threats that were sweeping the nation. The FBI and NYPD both claimed the ransom-related threats were a hoax, however, it left many people in fear, and caused the closure of several businesses and government buildings.
Bitcoin Ransom Letters: It Can Happen To You
Often, people say to themselves “it won’t happen to me,” but in the case of Bitcoin ransom-related threats, this very reporter received one just last week.
Upon awaking my MacBook from its slumber, I was greeted by an email entitled “You have been hacked.” The cyber criminal claimed they had been watching me for “several months,” infecting my computer with “malicious software through an adult site” that the hacker claims I visited.

“The Trojan virus gives me complete access and control over a computer or other device. That means I can see everything on the screen and turn on the camera and microphone, but you’re not aware of this. Thus, I also got access to all your contacts,” the threat read.

The hacker had claimed they had taken control over my MacBook’s web cam, and had used it to make recordings the hacker was threatening to later send to my contacts unless I paid an $800 Bitcoin ransom.
Related Reading | Bitcoin Extortionists Turn From Blackmail to Bomb Threats
Initially, my stomach sank, fearing the worst. What did they have on me? After my initial gut reaction, I recalled a number of examples of Bitcoin-related ransom case I’d covered extensively as a reporter, and I quickly found comfort that the threat was empty, and little more than a hoax. Knowing I had capable malware-blocking software installed further provided ease of mind.. Then I became intrigued, even entertained by the letter.
The instance reminded me of a recent email being sent to residents of Paradise Vally, Arizona, that involved an email threatening to expose an affair if a sum of Bitcoin wasn’t promptly paid. Authorities also chalked this example up to being a hoax, but not before it gave unfaithful, married residents a real scare.
Having personally reported on more than a handful of cases in as many months, and having been victimized by a Bitcoin ransom email myself, it’s becoming evident that cyber criminals are finding success with this strategy, and a clear trend is rapidly forming.
The post Crypto and Bitcoin Ransom: A Rapidly Growing Trend appeared first on NewsBTC.
Source: New feedNewsBTC.com

Tools of the Trade: Monero and Privacy Coins Are Creating More Efficient Criminals

As if the cryptocurrency space wasn’t controversial enough, the emergence of privacy-focused coins such as Monero allow an end user to cloak their identity, making the currency an ideal choice for cyber criminals.
In Japan, the Financial Services Agency has banned any exchanges from listing such coins, and privacy coins in general are commonly at the forefront of regulatory discussion, primarily centered around their potential contributions to international money laundering.
Monero has already earned the crown for being the cryptocurrency most frequently involved in cryptojacking cases, and now, a new report out of Norway could bring to light additional fears around Monero’s privacy-related functions.
Wife of Norway’s Richest Man Held For $10M Monero Ransom
Multi-millionaire real estate investor Tom Hagen is listed among Norway’s richest men, however, his wealth has unfortunately made him and his family a target for cyber criminals.
Local Norwegian media outlet VG reports that Hagen’s wife, Anne-Elisabeth Falkevik Hagen, age 68, is suspected to have been kidnapped by a group of criminals who are demanding a $10.3 million ransom for her safe return. The criminals are requesting the ransom only be paid in Monero, likely as a way to hide any trace of their operation so they can get away with the crime unscathed.
Related Reading | US Government Aims to Make Privacy Coins’ Use Case Obsolete
Hagen’s wife disappeared suddenly from the family’s Lørenskog home on October 31st, and hasn’t been seen since. Police say they’ve been on the case for “several weeks,” but “have no suspects” in the case. The criminals only communicate over the internet, and have shown no evidence of Falkevik Hagen’s well being.
A note was discovered in the Hagen family’s household claiming that Falkevik Hagen would be killed if authorities became involved or if the Monero ransom wasn’t paid. Chief investigator Tommy Broeske, however, decided to “go public,” because they “need more information” to help track down the criminals and bring Falkevik Hagen home safely.
Monero’s Privacy Features Leave Investigators With No Trail to Follow
The case may not be as difficult for the authorities involved if it weren’t for Monero. Monero uses an obfuscated blockchain that prevents outside observers from determining the source, destination, or even the amount being sent in a transaction.
As a result, investigators on the case are still left with “no suspects,” despite having assistance from Interpol and Europol, and have Hagen’s wealth behind them.
Monero is quickly becoming the cryptocurrency of choice for cyber criminals. Santa Clara-based network and enterprise security company Palo Alto Networks released a report last year that suggested that roughly 5% of all Monero in circulation was mined as a result of malicious cryptojacking software, and that as much as 2% of Monero’s hashpower is derived from cryptojacking scripts.
Related Reading | Crypto Mining Malware Still Abundance Despite Market Decline
A branch of the United States Department of Homeland Security had already set its sights on Monero and the privacy coins, and may be working to develop tools to trace transactions on the blockchains of privacy coins. Should additional cases arise with such high profile individuals, privacy coins will eventually gain more notoriety and may eventually become banned elsewhere across the globe.
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Source: New feedNewsBTC.com

Fortnite’s brief foray into Monero [XMR] was ‘accidental’, says Epic Games founder

Tim Sweeney, an American computer game programmer and a founder of Epic Games, tweeted saying that Fortnite and Epic Games still don’t have any connections or partnerships to accept cryptocurrencies and that there is still a lot of work to be done before that becomes a reality.
Tim Sweeney tweeted out saying that this was false and that Epic or Fortnite is not connected to Monero.
He tweeted:
“Actually, Fortnite’s brief foray into crypto was accidental. We worked with a partner to open a merchandise store, and somewhere along the way Monero payment was enabled.”
Moreover, Sweeney said that the folks at Epic Games and Fortnite were huge fans of “decentralized computing” and its underlying technology.
He also added that the Fortnite audience includes a younger audience, and since cryptocurrencies are very volatile, there was a lot of work that was needed to be put into making cryptocurrencies as a form of payment for the staggering amount of audience that Epic Games and Fortnite bring to the table.
Furthermore, he added:
“Googling this, there’s quite a rumor mill out there. No, Epic doesn’t have any cryptocurrency partners and aren’t in any crypto partnership discussions with anyone. We do read lots of papers and talk to smart people to learn more in anticipation of an eventual intercept.”
A Twitter user, @cryptochange34 retweeted Sweeney’s post, saying:
“So why did @fluffypony claim that Epic was supporting Monero because @GlobeeCom worked with them as part of Project Coral Reef?”
To this, Riccardo Spagni aka fluffypony replied saying that he did not. The user, referring to fluffypony’s comment on a Reddit thread said that Spagni comment was misleading.
Source: Reddit
Spagni replied:
“Nope, it’s correct. Epic Games isn’t the merchant.”
The user @cryptochange32, commented:
“To add, if there was an agreement reached with anybody then why is @TimSweeneyEpic claiming it was a complete accident as if somebody just hit the wrong button in shopify? (I dont really think you can setup a functioning globee account “by accident” but OK)”
Tim Sweeney, replied:
“There was a series of discussions with many people deciding which international payment methods on the partner’s platform to support based on territory reach. Monero was somewhere in the matrix, and the Epic guys didn’t appreciate that one of those things was not like the others.”
The post Fortnite’s brief foray into Monero [XMR] was ‘accidental’, says Epic Games founder appeared first on AMBCrypto.
Source: AMB Crypto

Following Fortnite’s Acceptance of Monero, Investors Optimistic on Crypto

A popular cryptocurrency recently made its way into the checkout payment option of a top-rated video game. And yes, it was not Bitcoin.
Monero, a privacy-enabled offspring of the same technology that powers the Bitcoin payment protocol, can now be used to purchase gaming merchandise on Fortnite. The online video game, first released in 2017, is a cooperative shooter-survival competition which has drawn in more than 125 million users across the world. According to Holiday 2018 consumer reports, youngsters were keen on using a cryptocurrency as a payment option – instead of cash – on Fortnite merchandise store.
“Today we have strayed from the path of righteousness,” a Redditor commented. “But seriously, that’s some pretty awesome adoption. Even if no one uses it, it’s a fantastic exposure of millions of people who might ask “What’s that groovy M? And why is it better than regular payment?”.
The event sparked one of the many debates about teenagers’ growing interest in decentralized assets. The generation that is going to build the next financial trend, as opinionated by ShapeShift’s Erik Voorhees, wants a break from the Wall Street version of money – and in a couple of years, they will drive more adoption to the crypto space.

Within a couple years, the average 16 yr old Xbox player will understand more about crypto than the average Wall St. banker. https://t.co/OvQOpcJpR3
— Erik Voorhees (@ErikVoorhees) January 4, 2019

The discussion has spread to a point where teenagers are reportedly finding banks too slow to catch up to their space. They are not ready to wait in queues to set up their bank accounts or wait for their payment requests to get approved in 3-5 “working” days. Cryptocurrencies attract them for being more independent and faster than any traditional financial regime.

My oldest son already know more about Blockchain and Crypto at 11 yr than most other people i know…
— Jonas Karlberg (@jonas_karlberg) January 4, 2019

Outside the world of young, however, crypto continues to feel the heat from its older and more matured critics. American-Iranian economist Nouriel Roubini called bitcoin a “mother of all scams” before the US Congress. Warren Buffet, an investment kingpin, said that bitcoin lacks intrinsic value, adding that probably it is “rat poison squared.” Legendary investor Gary Shilling called the cryptocurrency a “Ponzi scheme.”
The anti-crypto opinions mostly include criticism about crypto’s excited use-case in the new financial world. They believe that the whole sector, barring centralized digital currencies, is destined to go down as the most significant financial scam the world has seen ever.
Crypto world argues that mainstream economists do not focus on the crypto’s technological aspects – that their views are limited to their definition of deflationary economy. Shilling, for instance, has admitted that he does not understand how Bitcoin works. Buffet has been in a similar scenario during the introduction of Amazon and Google stocks back in the 90s. He had predicted that these companies would fail, without understanding what they were looking to create in a longer run.
Fortnite, at best, is experimenting with what could be the future of finance. It could lead many other investors to look into the potential opportunities presented by the crypto space. In the end, what Monero has today is a potential user base of millions of people.

If the next generation of school children grow up to understand the separation of money and state, then bitcoin will have succeeded.
— Erik Voorhees (@ErikVoorhees) August 14, 2012

The post Following Fortnite’s Acceptance of Monero, Investors Optimistic on Crypto appeared first on NewsBTC.
Source: New feedNewsBTC.com

December Crypto Roundup: Markets Hit Lowest Level of The Year

Best recovery in crypto for the month; Ethereum, Tron, Iota and Maker, still falling were Stellar, Monero and Zcash.
The final month of 2018 saw cryptocurrency markets hit their lowest levels for the year. On December 15 crypto market capitalization had tumbled to $100 billion, down almost 88% from the peak in January. Since then it has recovered somewhat ending the month at the same level it began, around $130 billion which is still painfully low.

Despite these lows, November remains the worst month for crypto markets in 2018. Bitcoin lost 11% over the course of December starting at just over $4,000 and ending at around $3,850. BTC could not break resistance at $4,300 and plunged to a 2018 low of just below $3,200 in mid-December before recovering a little. Since its all-time high Bitcoin had lost 80% over the course of the year.
Ethereum has fared no better over the course of the year but did manage to recover 24% in December. After getting completely hammered the previous month ETH started out at $113 and ended the month at just below $140 following a dive to a yearly low of $85.
Ripple’s XRP held on to second spot but only just by the end of the month. It had recovered just 2% by month end where XRP traded at $0.369. There was much less volatility on XRP markets throughout December compared to other crypto assets.
Bitcoin Cash had some wild swings in December plunging to depths at $75 before recovering 190% to $220. It had lost a lot of those gains though and was down over 5% by month end trading at $163.
EOS managed to hold fifth spot but also lost out in December with a 7% decline to $2.63. Its low for the year came on the 8th when EOS hit $1.57, a marginal recovery has occurred but it still ended the month lower than it started. Stellar had a pretty dismal month in December with a 26% loss to end it at $0.117. The recovery from the low of $0.093 has been slow for XLM which has performed better than most in previous months.
Litecoin remained at around $32 at the end of December which is where it started so there was no gain or loss. LTC had recovered almost 40% from its 2018 low of $23 but things were not moving much by the end of the month.
Over 7% was lost by Bitcoin SV over the course of December when it fell from $95 down to $65 then back to $88 by the end of the month. Rounding out the top ten is Tron which made an impressive gain of 38% over the course of the month. TRX did not suffer the big dump on the 15th and has been steadily gaining over the course of December, ending it at $0.020.
Cardano failed to get back into the top ten despite gaining 7% over the month. Iota did even better with a 27% rise to end December at $0.366 but Monero had a miserable month dropping 17% to end it at $47.
Binance Coin fared better with a 20% gain in December to end it at $6.13. Dash dumped 13% and ended the month at $80 while Nem joined it with an equal loss. Ethereum Classic ended December 12% higher than it started, trading at $5.18. There was very little activity with Neo last month which remained at around $7.80. Maker made an impression on the top twenty with a 28% climb over the month to end it at $463. Finally there is Zcash joining the other privacy cryptos with a dump of 27% in December from $80 to $58.
Recovery was mixed for the top twenty cryptocurrencies in December. Looking back at 2018 all of them have been beat up and are close to their lowest levels for around 18 months.  The crypto winners for December were those that recovered the most which included Ethereum, Tron, Iota and Maker. The losers for the month were Stellar, Monero and Zcash.
All figures from Coinmarketcap.com
Previous months: February | March | April | May | June | July | August | September | October | November
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Source: New feedNewsBTC.com

Fortnite Merchandise Chooses Monero as the First Supported Digital Asset

CoinSpeaker

Fortnite Merchandise Chooses Monero as the First Supported Digital Asset

Monero is the first digital asset that will be supported directly. Customers can also make payments with a range of conventional methods including credit cards and PayPal.

Fortnite Merchandise Chooses Monero as the First Supported Digital Asset

Continue reading at Coinspeaker
Source: CoinSpeaker

Brave’s “shady” browser “soliciting” tips on behalf of content creators without their consent

Brave browser hit the internet with their feature of rewarding users with Basic Attention Token [BAT] for using the browser, but it is now in the spotlight as it is allegedly “soliciting” tips in form of BAT from content creators without their consent.
Tom Scott, a popular British YouTuber took to Twitter to share his woes about this matter, wherein his face and name was used to collect tips/donations without opting for it.
Scott stated on his official Twitter handle that he never asked for crowdfunding on any platform and that if he ever decided to change this pattern, it would be made “obvious”.
He continued:
“This warning is prompted by a company called Brave, who’ve been taking cryptocurrency donations “for me”, using my name and photo, without my consent. I asked them not to, and to refund anyone who’s donated; they said “we’ll see what we can do” and that “refunds are impossible”.”
Furthermore, Scott described that these donations/tips that were being collected will not reach the content creators including himself and that Brave team had decided to keep it.
Additionally, Scott tweeted:
“I did ask Brave how keeping profiles on untold numbers of people and assigning donations to them without consent complied with GDPR, at which point the person talking to me stopped replying to emails.”
The barrage of tweets sent out by Tom Scott grabbed the attention of Riccardo Spagni aka fluffypony, the face behind the privacy coin Monero [XMR].
Spagni, at which point agreed with Scott and tweeted that this was a “scummy behavior”. Spagni went on and stated:
“It’s purposely designed to deceive users into thinking they’re donating to the person. End of story.”
When argued that, Brave was kinda similar to XRP’s Tip bot, Spagni said:
“Brave makes it seem like the content creator is soliciting for tips, even grabbing metadata from their site to do so. A tipbot on Twitter doesn’t do that.”
A member from Brave, Sampson tweeted:
“Not quite. Tipping banner shown to those who wish to support a property. Property image (often favicon) and title are displayed, which happens to be face/name in this case. Non-refundable due to anonymity. Tom’s feedback is very helpful though. We’re going to make changes.”
The post Brave’s “shady” browser “soliciting” tips on behalf of content creators without their consent appeared first on AMBCrypto.
Source: AMB Crypto

90% of Monero Mined Ahead of Tail Emission in 2022, Big Milestone?

Despite being in a bearish cycle this year, privacy coin Monero (XMR) is looking stronger on the demand front on a long-term basis.
According to MoneroBlocks.info, an XMR chain explorer, miners have already mined 16,644,199 units against the total supply of 18.4 million XMR. The unearthing is scheduled to continue until May 31, 2022, by when the entire XMR supply will come into circulation. It would also mark the beginning of a new supply period, managed at the rate of 0.3 XMR per minute, meaning Monero as a token would never run out of supply.  Their whitepaper refers to this entire process as Tail Emission.
As explained, until the Tail Emission comes into effect, the Monero block reward will keep reducing with each successive block that is mined. The current block reward for drilling a Monero block is circa 3.44 XMR. In 2022, the same compensation would eventually reach the value of 0.6 XMR, after which it will remain the same.
A Milestone For Monero?
Monero wellwishers believe that Tail Emission makes their blockchain more attractive to the mining community, for it would provide them with constant incentives even after reaching the 100% circulation. Moreover, they maintain that continuous incentivization will make the Monero blockchain more secure in long-term.
The favoritism comes in the wake of the limitations of Bitcoin’s incentivization mechanism. As of now, the world’s leading decentralized blockchain issue sufficiently higher block rewards to its miners for keeping the network secure and running. Also, the blocks are limited enough to run a fees-enabled market, meaning transactions with the highest commissions are included faster while the ones with lower fees are forced out of the market.
However, Bitcoin block rewards are programmed to go lower reasonably soon. By 2040, 99.8% of the total Bitcoin supply will be mined, and the remaining 0.2% will take the next 100 years to come into circulation. So, bitcoin will have to rely on on-chain transaction fees or dominant assurance contracts to maintain its security. At the same time, off-chain solutions would likely jeopardize bitcoin’s plans, because they wouldn’t require miners.
Even if the off-chain solutions fail, for argument’s sake, it could result in a secure blockchain but with higher transaction fees. Therefore, it could ultimately reduce Bitcoins utility and adoption to a significant degree.
Monero, despite being multi-billion dollar down from Bitcoin’s current position, is still a project that one can bank on for network security. After May 2022, the industry will have a clear outlook of how the coin performs post-supply, maybe even helping other developers to create solutions for their blockchain projects. A properly fungible coin, coupled with tail emission to avoid chain security problems, and one that has existed long enough to be reasonably tested and proven – Monero could be a solution in the long-term.
Well, let’s just hope it will.
The post 90% of Monero Mined Ahead of Tail Emission in 2022, Big Milestone? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Monero [XMR]’s Riccardo Spagni: BAT is lot more centralized than they purport it to be

Monero’s lead developer, Riccardo Spagni aka fluffypony, spoke about Basic Attention Token [BAT], elucidating why he considers it to be centralized in the latest episode of Magical Crypto Friends.
Basic Attention Token is the digital currency used for rewarding content publishers and users for paying attention to the content, a break-through in the digital advertising sector. This also provides advertisers with more in return for their advertisements. For the very same purpose, Brave Browser browser monitors the users’ attention, while ensuring that the data does not leave the users device.
However, the Spagni stated it has a loophole on Twitter:
“I just found out that BAT has a nice loophole that lets them steal funds from users. Permissionless scamovation indeed! […] Users are NOT going to go & buy BAT when their airdropped tokens run out, no matter how slick. There’s simply too much friction. Consider what happens RIGHT NOW when most people hit a paywall: do they (1) disable their ad blocker, (2) pay the publisher, or (3) just close the tab?”
This was followed by a Twitterati, Patrick, stating that the BAT ecosystem is designed to work in manner wherein the advertisers purchase the tokens and then use them to buy advertising space on the browser. He further stated that users will earn 70% share of the revenue if they agree to view the ads, adding that they will be paid in BAT for their attention and can tip this BAT to their preferred content producers.
To which, Spagni said:
“I understand that part of it, and I think it’s safe to disregard it as (1) it’s going to be gamed making it a race to the bottom for ordinary users, & (2) very few people want to see a plethora of ads even if they’re getting paid. I also think the browser lock-in is shortsighted.”
To counter this statement, Patrick attached a tweet of Brendan Eich, the co-founder and CEO fo Brave, wherein he has remarked that Brave uses Uphold for KYC/AML process, which is required for users to be able to withdraw their funds. This is so that “the threat is DoS not theft by fraud”.
The founder added that they make use of Proof of Browsing and “buffering on the device and in a settlement, allowing anti-fraud/Sybil attack analysis and BAT claw-back”.

In the episode, Spagni stated that he found it interesting that it is “a lot more centralized than they purport to be”, adding that this is true when it comes to a lot of dApps. He further stated:
“So I was having this debate on Twitter with a bad show and I said okay but that’s gonna be gained at some point you know someone’s gonna figure out the heuristics and they’re gonna have like right a bunch of bots that are gonna be indistinguishable from real humans […] it’s going to appear to be real browsing and they’re gonna airdrop these tokens onto them”
Following this, Spagni spoke about Proof of Browsing, which will determine whether the ‘attention’ is true or not, whether it is a  human or a bot, and callback if a person is taking advantage of the system. The developer stated that if a user fails to complete the KYC/AML process and Proof of Browser, then the money is taken back from the user.
“I mean it’s not it’s not yours yet because you haven’t withdrawn it, is their theory but at the end of the day that’s no different from a database because you know they’re controlling everything, they’re controlling the influx of supply into the market, they’re controlling whether or not somebody legitimately earns that […] but the reality is it’s a centralized system”
The post Monero [XMR]’s Riccardo Spagni: BAT is lot more centralized than they purport it to be appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin SV [BSV] down by 6% as token bleeds red; Monero [XMR] sees 20% dip over the week

The past week has been full of surprises for the cryptocurrency market. From coins constantly shuffling ranks, the market has mostly bled red. Bitcoin SV [BSV] and Monero [XMR] have suffered the most among the top coins. BSV drove the bull race the past week, while XMR remained an observer on the twelfth position.
Source: CoinMarketCap
At the time of press, BSV, the eighth-largest cryptocurrency, was valued at $92.86 with a market cap of 1 billion. The 24-hour trade volume of the coin was $57 million and had registered a mere growth of 0.08% in the past hour at the time of reporting. The coin had plunged by 6.40% in the past 24 hours.
According to the trading volume, the highest 24-hour trade volume was registered by GDAC with BSV/KRW pair. The 24-hour trade volume was reported to be $15 million. Similarly, BitMart was at the second and the third position, with a trading volume of $7.43 million and $7.12 million with BSV/USDT and BSV/BTC pairs, respectively.
Monero, the twelfth ranking coin on the CoinMarketCap list, was valued at $44.25, with a market cap of $736 million. The coin registered a 24-hour trade volume of $13 million and had seen a miniscual growth by 0.49%. However, over the past 24 hours, the coin plunged by 6.36%.
According to the maximum trade volume, Bithub registered a trading volume of $712 million with XMR/KRW. Bithumb was followed by Binance, which reported a trading volume of $2 million with XMR/BTC pair. The third in line was Exrates, with a trading volume of $1 million with XMR/BTC pair.

 
BSV, after driving a bull race, seemed to slow down, but had not exactly fallen prey to the bear. The coin reported a fall of 0.18% in the past seven days.
However, XMR has been red for the past few weeks. At the time of press, the coin had registered a fall of more than 20% in the past seven days.
The post Bitcoin SV [BSV] down by 6% as token bleeds red; Monero [XMR] sees 20% dip over the week appeared first on AMBCrypto.
Source: AMB Crypto