Bitcoin’s founder, Satoshi Nakamoto, may have just moved his coins as an 11-year-old address moved the entirety of its funds to an untraceable chain.
A Bitcoin (BTC) address that collected 50 BTC from a mining reward has just shown the first sign of activity since February 2009 — just one month after the creation of Bitcoin.
According to data from Blockchair.com, the address 17XiVVooLcdCUCMf9s4t4jTExacxwFS5uh has moved the entirety of its 50 BTC mining reward to two different wallets.
Of this, 40 BTC is laying inactive on what appears to be a change address. The remaining 10 BTC has been sent to a multisig address, as evidenced by its starting number.
The chain of transactions becomes more difficult to track from here, as the BTC was split into almost dozens of pieces across a complex chain of outputs…CLICK for complete article
Major economies should pursue currency agreements to stabilize the US dollar, especially during the COVID-19 crisis, preventing a rapid rise against other currencies that is sure to trigger calls for protectionist measures.
There is historical precedent. In 1985, the US dollar soared. The United States, West Germany, Japan, France and the United Kingdom – the Group of 5 world powers – met at the Plaza Hotel in New York on a Sunday in September, when markets were closed. Four nations agreed to appreciate their currencies to depreciate the US dollar….CLICK for complete article
China’s volume of international transactions that cleared in its own yuan currency tumbled on fading confidence in its financial stability by 12.31 percent in October 2019.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) reported that despite the volume of international payments was up by a brisk 4.17 percent in October over September, the volume of cross-border transactions conducted in China’s yuan currency was down 12.31 percent. SWIFT tracks global interbank transactions for more than 11,000 financial institutions in over 200 countries.
October was expected to be an extraordinarily strong month for yuan transactions following the launch of a global financial markets “connect” trading programs with the Hong Kong Exchange; Morgan Stanley Capital adding China domestic securities to its stock market indexes; and the People’s Bank of China cutting its one-year Loan Prime Rate of interest to stimulate the domestic economy.
The rise of yuan usage had allowed China to internally finance substantially more trade payments without being forced to post collateral with Eurodollar banks to guarantee the exchange of yuan into U.S. dollars for complete customer payments. Wall Street credited the rise of yuan transaction volumes as a tangible sign of China’s financial stability….CLICK for complete article
The economist John Maynard Keynes famously called gold a “barbarous relic”, suggesting that its usefulness as money is an artifact of the past. In an era filled with cashless transactions and hundreds of cryptocurrencies, this statement seems truer today than in Keynes’ time.
However, gold also possesses elemental properties that has made it an ideal metal for money throughout history.
Sanat Kumar, a chemical engineer from Columbia University, broke down the periodic table to show why gold has been used as a monetary metal for thousands of years….CLICK for complete article