Litecoin Users Can Choose to Use the Privacy Tech or Not After Mimblewimble Integration

  • Charlie Lee speaks on LTC’s Mimblewimble integration.
  • The hidden inflation on privacy chains.

In a recent interview, Charlie Lee, the Founder of Litecoin (LTC), talked about the current plans to integrate the Mimblewimble privacy mechanism on the blockchain. Lee answered several questions from LTC users including the several developmental concerns that may arise on the blockchain once implementation is complete.

Furthermore, Lee explained the concept of ‘hidden inflation’ that is common on privacy-based blockchain stating users wanting privacy will not care much about it.

Charlie Lee Speaks on LTC’s Mimblewimble Integration

Some of the questions focused on the future of LTC transactions and how to integrate the privacy features of Mimblewimble on the blockchain.

Users were curious about whether the normal blockchain will take precedence or the Mimblewimble-enabled chain. According to the planned privacy enhancements, users will be able to select on exchanges whether to carry out a privacy enhanced transaction or a public one.

Responding to the confusion building up, Lee said he has talked to several exchanges on the regulatory issues that surround the privacy enhanced transactions with most agreeing to go along with it. He further said,

“Initially the use of Litecoin post-MimbleWimble implementation will be difficult; it’s going to be a learning curve. Not all wallets will support it from the start[…] Since it is a soft fork, the whole ecosystem won’t need to care about it until they want to.”

Lee, however, believes the current upgrades will benefit Litecoin’s privacy as a coin stating the privacy features may draw more users to LTC.

The Hidden Inflation on Privacy Chains

In what has become a raging topic across the privacy coins communities, Charlie said “hidden inflation” on privacy coins may not affect users willing to own privacy enhanced crypto.

In March, crypto analyst and developer, Tim Ruffing, exposed that there may be a bug on all privacy blockchains cryptography that makes “inflation undetectable” on the blockchain.

While this makes the blockchain more susceptible to attacks from hackers who may inflate the cash in the system, Lee believes this is a risk privacy-focused users are willing to take. On how Litecoin aims to prevent such an attack Lee said:

“The good thing about our ecosystem is the extension block for Litecoin; it would be kind of isolated by itself. So even if something happens to that, it won’t infiltrate the main chain because one won’t be able to withdraw more coins.”

Read Original/a>
Author: Lujan Odera

Bitcoin is Still a Safe Haven Asset, Despite Collapsing in Line with the Stock Market

  • Bitcoin functions as a hedge against “inflation, geopolitical strife, and central banks” instead of a pandemic
  • The market is experiencing a “very strong risk-off environment,” where gold prices fell as well

The price of bitcoin started declining along with the S&P 500 towards the second half of February amidst the spreading coronavirus (Covid-19). Between Feb. 20 to 28, the S&P 500 fell 14% while the price of BTC slid 13%.

The drop in the crypto asset’s price in line with the S&P 500 led people to question the narrative that Bitcoin could function as a safe haven like gold.

“Safe from what?”

Analyst Mati Greenspan argues this means, Bitcoin functions as a hedge against “inflation, geopolitical strife, and central banks” instead of falling corporate profits or pandemics.

Bloomberg’s Joe Weisenthal also shared a similar opinion saying that Bitcoin is still a safe haven asset but you can’t expect it to hold up well in the current financial market panic.

“The most important thing is that to talk about something being a “safe haven” you have to ask “safe from what?” Different assets — gold, land, diamonds, ammo, canned sardines, Treasuries, dollar bills, Bitcoin — can each offer safety, but from different risks,” said Weisenthal. He added:

“Treasuries won’t help you in a natural disaster or a war. Canned tuna won’t help you in a liquidity crisis. Gold bricks won’t help you if you have to escape a country on foot (too heavy). For each safe haven, there is its time.”

This theory according to SFOX aligns with the data recorded in January this year when the BTC price rose amidst US-Iran tensions.

A “very strong risk-off environment”

If we take a look at the traditional safe-haven asset gold, its prices fell about 5% during this period as well. This has been simply the market experiencing a “very strong risk-off environment,” where traders are selling off even those assets that are typically seen as relatively safe.

The market movements are constrained to just a couple of weeks and to assess the extent bitcoin is growing into a safe haven asset, we need to take a longer-term perspective.

“What is a safe haven anyway? Gold is down 2% since this whole market rout started yet nobody questions its status. In the initial volatility of such an event ppl tend to sell everything indiscriminately. Let’s see what happens when the panic subsides,” said former eToro analyst Greenspan.

Leading to the digital revolution

Today, while bitcoin is up 4.19%, climbing to $8,158, just as stocks are trying to rebound on its worst day since the 2008 financial crisis, gold prices are on a corrective pullback after hitting a 7-year high above $1,700 on Monday. In 2008 as well, the price of the yellow metal fell nearly 25% following stocks as investors try to get hold of cash.

With Saudi Arabia increasing the output to a record 12.3 million barrels a day in April and uncertainty engendered by the virus that has sickened at least 115,000 and claimed over 4,000 lives worldwide, gold bulls remain fairly optimistic.

The same has been happening with bitcoin as Raoul Paul Founder and CEO Real Vision Group said, “It feels like any hedge fund that was long bitcoin is having to liquidate. VAR takes no prisoners.”

VAR is the measure of risk in a portfolio connected to volatility and as the volume of all assets goes up, investors have to reduce risk.

“It’s a buying opportunity but no need to rush in yet. The current event in markets will accelerate the need for the new financial system over time. We know where this is leading to – the digital revolution. Hodl on to your hats…!” Paul said.

Read Original/a>
Author: AnTy

Ripple Cuts Down its XRP Sales by 73% in Q3; Inflation Rate Lower Than ETH And ETH

  • XRP inflation rate drops, now lower than that of ETH and LTC
  • Ripple customers live with on-demand liquidity (ODL) increased by 75% last quarter
  • Ripple clears FUD: XRP whales weren’t behaving any different than BTC or ETH whales

Ripple delivered on its promise to “take a more conservative approach to XRP sales in Q3” and “substantially” reduce the sales as in its Q3 report the company reported a whopping 73.7% decrease in Q3.

In comparison to Q2’s $251.51 million, in Q3 2019, total XRP sales were just about $66.24 million.

While the goal for programmatic sales for Q3 has been 10 basis points, Ripple ended below that at 8.8 bps. The fact that they pause the programmatic sales altogether contributed to that along with its focus on over-the-counter sales for a few strategic partners.

As such, its inflation rate compared to ETH and LTC dropped while equaled that of Bitcoin.

Now for Q4 as well, the company is planning to maintain a similar approach to Ripple’s XRP sales.

In this quarter, the company released 3 billion XRP but returned 2.30 to escrow.

Market Development

In Q3 the overall market capitalization of digital assets lost 30.4% while XRP price declined 35.4% Q/Q.

The daily volume of XRP decreased as well, going from $429.51 in Q2 to $198.10 million in Q3, however, it was higher than that in Q1 at $156.01 million. XRP volatility took a hit as well, reducing from 5.0% to 3.6%, beating BTC (3.9%) and ETH (4.3%).

Additionally, XRP is now listed on over 140 exchanges worldwide.

Ripple further put light on its partners, stating its customers live with on-demand liquidity (ODL) increased by 75% last quarter while dollar volume on ODL increased over five times than Q2.

Ripple Clears FUD

This time, Ripple addressed the FUD even in its quarterly report, saying last quarter saw an uptick in fear, uncertainty, doubt, and misinformation around XRP.

About the dumping XRP allegations, Ripple said large movements of XRP were actually the transfer between Ripple treasury and escrow management accounts and that XRP whales weren’t behaving any different than BTC or ETH whales.

As for the price manipulation allegations that Ripple “made XRP price fall,” in its defense, the company said it cannot control the price and that “XRP exists independently of Ripple.” It further stated that Ripple is aligned with other XRP stakeholders and is an interested party in its success, so this allegation won’t even make sense.

Read Original/a>
Author: AnTy