The Forgoer in Asia: Terra Is the Purchased Mode of Enterprise Bitcoin in 2002: The Crypto Tech Keeps stable In the Trade In the Weekend
The Luna Foundation Guard owns the bitcoin valued $1.7 billion, but we can see the Crypto market is not interested in the purchase this year. The bitcoin and ether are in the balance.
The following is the thing just happened:
Price: Bitcoin trade price is just lower than $40,000 which showed last weekend.
Insights:The Luna Foundation Guard’s bitcoin accumulation is totally different from the purchase of public trading companies.
Technician Book: (The editor:because of the long weekend, the technician book will not be shown. Istead, First Mover Asia is trying to republish the column which is made by CoinDesk David Z.Morris and columnist Jack Dorsey.
Share with the current episodes of Cointdesk TV that reports the insightful interviews and analysis of the leaders in Crtypto business. Also registration in First Mover, this is our daily newsletter and putting the latest information of crypto market into the context.
Bitcoin(BTC): $39,928 -1.20%
Bitcoin and the other key cryptos kept flat in the last holiday weekend.
And the end of this week, Bitcoin kept the price which is a little bit higher that $40,000 in the most of time in past few days.Almost there is no rebound.
"Last week we shared worries about Bitcoin's ability to keep upward ," Joe DiPasquale, the CEO of fund manager BitBull Capital, published in ideas to CoinDesk. "We underlined that $40K is key number and tuning point on the down flow. And It is the current statement in this week marketing .”
Account in the latest trade with the price $39,928 that the largest cryptocurrency paid, the price is little down compete with the price before 24 hours earlier. And it is the same price as the value in Good Friday, holiday weekend. Also, the second lagrest crypto, Ether, passed the value as $3,026. It was keeping the flat within this week, that is barely budged. Other top crypto companies went into red largely, they beard a loss, except SQL, it is still in rising about 1% among those are all is deficit.
Following the rising inflation, recession possibility and the Russian invasion to Ukraine with no reason, the thing is going to keep desolate. The investors worried about to invest in the present time. And the markets were closed Friday , and showed on Thursday a little bit down. The tech-focused Nasdag is down more than 2%, and the S&P 500 fell 1.2%.
Russia kept pressing into a war to the Ukraine, such as one of the major cities, the capital Kyiv, and asked the strategic Black Sea Port in Mariupol in the southeast to surrender. The Deputy Prime Minister Iryna Vereshchuk expressed that the discussion with Russia to build a humanitarian corridors that is about the civilians can escape from the major cities of Ukraine had already broken on Sunday.
Joe DiPasquale, the CEO of fund manager BitBull was pessimistic in the coming week. He pointed out that the support point must be extreme lower than $40,000. He wrote: the forward of the bitcoin is totally bullish, we are still looking for the react around $37K. Also, BTC will try to get the consolidate value around $42K whatever it will raise up. But the truth is if there are no any big news or any catalysts, it is hard to be true.
S&P 500: 4,392 -1.2%
DJIA: 34,451 -0.3%
Nasdaq: 13,351 -2.1%
Gold: $1,974 +.05%
Terra is 2022’s Version of Corporate Bitcoin purchase.
Michael Saylor hopes that all the corporations can follow his method to put the bitcoin into the balance sheet. In the early of 2021, he held a seminar with this topic issue, and he claimed there would be audience from 1400 companies. To put the bitcoin, stock and bond into company financial department. They are put into cement, the asset part in the history books, and will get $6 milion.
However, one year later, the corporations were not interested in in. According to the date of tracing on public companies, CoinGecko, in the last year, there were no any companies to put the crypto tech inside. The only non-big scale crypto or payment company is Tesla. The reason why Square approved it is it allows the customers to crypto in the trade. And also, some games developers seemed it as the part of the Web 3 promotion. Or they also accepted the crypto tech as a payment mode.
Saylor will keeps it in the Micro Strategy balance sheet, and he told all the investors by the recent report that using bitcoin will be the major primary reserve asset, it makes us to be distinguish among those traditional opponents. It also promotes our brand.
But he cannot convince the other people do like what he did. For those listed companies, in the accounting aspect, the bitcoin is hard to deal with. Thus the companies are full of confidence or the bitcoin value will create the highest point in the history didn’t come true.
In this void, Terra promoted the LunaFund Grald(LFG) Bitcoin’s hold value with closed to $1.7 billion as its frequent bitcoin purchasers. The founder Do Kwon did have a wish that the number could catch $10 billion. And the total value makes Trra/LFG to be the second largest company holder. The largest holder is Microstrategy with $3.9 billion.
Does the market care about the topic? The answer is no. LFG purchased bitcoin and ether, but the relation between these two buying mode is being weak. The last few buys was no any effects in stopping the drop of the bitcoin.
Also, LFG is not the one of 500 listed companies, so the market gives the comments are different while the continuous dropping of bitcoin and the stock value. On the opposite, it told all the corporate financial employees that the bitcoin is not the best way to invest in their treasure book.
LFG’s mandate for buying crypto is also different from what a listed firm would do, and it is important is to look at the scale of the HODLing as well as the tempo.
Jack Dorsey, Block and the Perils of Making Crypto User-Friendly (by CoinDesk columnist David Z. Morris)
Last July, Square, the payments startup/giant (can you be both?) published that they would create a hardware ctypto wallet. The technical group is the right one that created the sharp increasing point-of-sale technology. The wallet built by them will be used and adopted easier. That will be exciting. Few months later, Jack Dorsey quit his position in Twitter, and focus on his career in Square( now is named as Block). He hoped to adjust the current situation in technical field and also improved the stakes.
However, it might be the first time for Dorsey to be close to Bitcoin (“crypto,” not so much). His optimism plan is obviously different from the users long time prefers and habits. Block announced in the last Friday blog that using finger prints as the key and default method to help customers to get out the assets from the institution. Also, Block expressed “evaluate additional access methods that customers could opt into.”
At least, for some consumer products such as cellphones etc, the purpose to add the biometric recognized access control is a simple and convenient, but the final implications might be disaster. Another website 2.0 holdover, Sam Altman who is a former president of Y Combinator. He published a token called WorldCoin in the summer of 2021. All the critics including Edward Snowden pointed out that the scheme is running a risk that might expose all the customers biometric database while its processing. So that must affect those victims bad permanent aftermath, at least potential damage. When the no-mercy capitalists in American Enterprise Institute consider your plan is totally anti-social,you should realize that you are in trouble.
To be fair, the Block’s thesis and the Eorldcoin’s are different as in the key aspects. The Block plan can make it be full of defense. Parts of the reasons are the wallet in the plan is the single user device. I can be used as the cellphone that can create and store its biometric recognized system data in local. Compare with the Block plan, Worldcoin seems to need a centralized iris-scan hashes database. Thus it is the five-level alarm system with the poor security.
If that, the local processing and storage system is still a real risk. -In conclusion, the local data that can be visited thought the internet should not be thinks as secure. Also, the final consequences of exposing the finger prints should be in the list. It cannot be ignored whatever it happened.
Moreover, to be worried about, considering the finger print as the authority way to crypto the wallet means we will neglect the management of private key. That will cause all users another extra risk: If your hardware wallet is the only home of your private keys, and the hardware is controlled by the finger prints, the risk of losing all the money will be up. It is not safe anymore.
Blcck seems like that it realized the risks in these aspects. Based on the time of announcement and the context of publishing, it claimed: “We're aware of limitations [of fingerprint security] we'll need to design around,” In the communication business, Friday is the time easy to be ignored, so that will be the best time to announce the newsletter.-All the reporters try to finish their targets basically, and hope to have a nice weekend. That is why Block try to minimize the blowback. Truth is that is a good choice for Block.
From now on, Block is trying to deal with an extremely difficult problem. The recent plans need more thoughtful, should not be the knee-jerk feedback. In the announcement, it is clearly shown that the most important aim is to design a wallet with security but easy to use. It balances the users security experience.
“We don’t want to force new behaviors on customers with a novel interface on the hardware component of the wallet we’re building,”the announcement shows, “Instead, making the mobile application the center of the experience will lead to familiar, intuitive interactions.”
Whatever is better or worse, we are familiar to use the finger prints in the tiny equipment to encrypto. Thus, as Silicon Valley hardware designer’s sight, using these fingerprints is meaningful. Even like Block, those business mode with respectively nimble and a cultural suppose, the product should be more public. Even the slowest children and the older can use it on the bus easily and willingly.
However, the logic thinking is the same as the issue mentioned in many crypto business. To make user feel better, easy is the most important aim. Whatever in the wallet, in decentralized exchanges(DEXs) and the others. Like what one of the security and crypto professors, Taylor Monahan, who works in MetaMask mentioned, the problem is “ease-of-use”feeling is exactly closed to security risks. I fact, she particularly pointed out another function which it affects users not to save the private keys in right ways. That is the former function of MyCrypto/MEW, also it is the wallet that Monahan developed before joining in Metamask. Specifically,this function is automatically downloaded and shows all the wallet information that people always forget to record these infomation.
Finally, there will be a balance between security and usability. But frankly, I consider that those companies that lead to this ultimate purpose are damaging the whole bio system though ignored of the education. In fact, the front-end assumption design can make crypto system and web 2,0 system be ease-used. This crypto guess might be found flaw. The complexity of crypto and inextricable are all closed, and the “abstracting away” method affects more possibilities to hurt the users’ security system while they are taking out the money.
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