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Crypto Banned in Turkey: Now What?

Paying with Bitcoin (BTC) will soon be illegal in Turkey. The issue of crypto transfers has become a political hot topic after the Central Bank of the Republic of Turkey announced on April 16 that the use of cryptocurrencies will be banned. The rule, which will take effect on April 30, also prohibits the use of wallets (to store your crypto coins), ICOs and crypto exchanges.

Turkey’s first crypto check is a “how-not-to-do” rather than a “how-to”, according to Ahmet Usta (editor-in-chief of Blockchain Turkey Platform and co-author of Blockchain 101). According to him, the Central Bank would ban two applications:

“The first prohibition is to pay with cryptocurrency for the purchase of goods. The second ban is exclusive to payment processors and crypto suppliers. It makes it illegal to trade, store, convert or convert crypto assets into fiat money or transfer money through an exchange. ”

“The good thing about the announcement is the classification of crypto assets within a legal context. That’s happening now for the first time,” said Usta, adding that the critical tone of the announcement is damaging the foreign image and trustworthiness of the company. Turkey. Cryptocurrencies are now classified as “intangible assets created virtually using a distributed network”. According to Ahmat, it should be seen as a currency.

“In the discussion of the use of cryptocurrency in foreign trade, the announcement that it is not a means of payment could lead to problems later on,” he says.

Erkan Z, a former financial journalist, compares the Turkish Central Bank’s decision to Russian crypto legislation. There, cryptocurrencies are forbidden to use as a means of payment, but trading is just legal. Ankara is thus demanding that investors will only use banks to send and receive local currency to and from crypto exchanges. With this, the government wants to stop criminal activities. Crypto Italia is popular.

Cryptocurrency is not the same as fiat money

“This is the Central Bank’s way of letting people know that cryptocurrencies are not monetary assets, despite the fact that people were not already using the people ‘kripto para’ (” cryptocurrency “in Turkish) as a means of payment,” said crypto. information officer Smail Hakk Polat. In a Twitter thread, he claimed that the new regulations are diminishing banks’ creativity and stunting the growth of crypto payment startups like DigiliraPay.

One of the local businesses directly affected by the new law is DigiliraPay. Its business model includes a Know Your Customer (KYC) mechanism and uses blockchain technology to facilitate the issuance of cryptocurrencies for everyday use. “Unfortunately, we will have to cease operations on April 30, which is the day the legislation will go into effect,” DigiliraPay CEO Serkan Bayar told Cointelegraph Turkey. “At a time when globally renowned companies such as Mastercard, Tesla, PayPal and Starbucks have begun to accept payments via cryptocurrencies, we are very sorry that these services will not be available in our region,” he added.

Bayar clarified that in the DigiliraPay ecosystem, tax avoidance is difficult as all transactions are logged on the blockchain, making them fully auditable. “The latest Central Bank regulations are not geared to the needs of the corporate world and can only hinder the adoption of cryptocurrencies in our region.”

The second aspect of the ban ensures that consumers can no longer deposit or withdraw money from crypto exchanges using local PayPal substitutes (PayPal has been banned in Turkey since 2016). After the announcement by the Central Bank, Papara, a prominent provider of digital wallets has become the subject of discussion on Twitter. Netherlands crypto is popular.

“More than a million people have used Papara wallets to trade on crypto exchanges in the past five years,” said Ahmed Faruk Karsl (Papara CEO). He added the following:

“If the goal was to deter malicious users by not giving them access to crypto, then this is not the way to go. The methods we use to control transfers to crypto exchanges are more strict than those used by many banks. To date, millions of transactions have been completed without a single instance of theft. ”

What would better enforcement have looked like?

Usta (a co-author of Blockchain 101) has a clear answer: “We need to build an environment conducive to creativity. It cannot be denied that regulation including negative verbs encourage creativity

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These cryptocurrencies have outperformed the broad market since 2019, which delivered 750% returns

Cryptocurrencies that use the so-called proof-of-stake method for approving transactions have outperformed the broad crypto market since 2019. The same goes for cryptocurrencies from trade exchanges such as Binance, analysts from investment bank Goldman Sachs conclude in a new study.

The total crypto market has delivered a return of 750 percent since 2019. Cryptocurrencies come in many flavors and the performance of different types of digital coins also varies. Cryptocurrencies that use the so-called proof-of-stake method to approve transactions have outperformed the broader crypto market since 2019. The same goes for digital coins from crypto exchanges.

This is the conclusion reached by analysts at investment bank Goldman Sachs in a new study

Examples of trading exchange cryptocurrencies include Binance Coin and FTX Token, which are issued by the Binance and FTX trading forums, respectively. Moveco.io has enough information. The way in which transactions are approved on the digital log (blockchain) of a crypto currency therefore plays a role. Bitcoin uses the so-called proof-of-work method, while other cryptocurrencies use the proof-of-stake method.

With the proof-of-stake method, users can be given the right to approve transactions on the digital log of a crypto coin by making a part of their holdings of the relevant coin available as a ‘stake’. Approving transactions can itself generate a fee.

In proof-of-work, users use enormous amounts of computing power to solve complex puzzles. Whoever solves such a puzzle first may approve a transaction and will receive a number of new coins to be issued as a reward. In this way, among other things, bitcoin transactions are approved by so-called ‘miners’.

Crypto market up 750 percent in value since 2019

“As the crypto market matures, it may pay to look at sub-segments to understand the technical characteristics most valued by investors and the prospects for practical applications,” Goldman Sachs analysts write in their report.

Other key conclusions from the report include:

Since the end of 2019, the entire crypto market has delivered a return of about 750 percent.

Bitcoin has underperformed the broad market with returns of around 500 percent, while ether has returned 2,000 percent. https://renovato.io/ has enough information. Cryptocurrencies that have a strong focus on user anonymity, such as monero, have underperformed the broad market since 2019.

As for the verification method for approving transactions on a digital log, the proof-of-work method used by bitcoin is associated with a high energy consumption of computers. This is seen as problematic from an environmental point of view.

The Ethereum network, to which the cryptocurrency Ether belongs, has made a major technical adjustment this month and is now preparing for the switch to a proof-of-stake method in early 2022. This is expected to significantly reduce the energy consumption of the Ethereum network. will reduce.

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What is AMP and why is it the only crypto price that is in the plus this week?

The cryptocurrency market saw a small rebound earlier this week, but in general it is clear that we are still in a downward trend: none of the top 100 largest cryptos are in the green this week. Well, almost none, because Amp (AMP) is no less than 60% in the plus!

AMP is a new token that serves as a kind of digital collateral providing instant and verifiable guarantees for any kind of value transfer. AMP is a platform that serves as a kind of insurance to guarantee any kind of asset transfer. AMP supports a large number of blockchains including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and more. Dogecoin price is high.

Amp can collateralize any type of asset transfer, whether digital or physical. Today, $AMP is providing the collateral for instant, fraud-proof transactions made using more than 25 different digital assets.

https://youtu.be/KBpa0MRkDuI

AMP token developed by Flexa

The AMP token, developed by Flexa together with Consensys, launched last September, but the price only started to rise in late January, around the time the altcoin season started. The price reached a new all-time high (ATH) of $0.083 yesterday and was still at $0.005 at the end of January. That is an increase of no less than 1,560%.

The price did make a significant dip down between mid-May and early June, but in the night from Thursday to Friday the price jumped sharply again. This probably has to do with the infamous ‘Coinbase effect’. When this US cryptocurrency exchange lists, or announces, a new crypto, we often see its price skyrocket immediately. Cryptofriends.io is helpful.

Prices from minus to plus

Nevertheless, the price of AMP dropped again after this peak yesterday, but the entire crypto market is turning red today. While all prices are in the minus compared to a week ago, AMP is still 60% in the plus. It seems that AMP may now have found a new bottom around USD 0.6 and are slowly starting to climb again.

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Bitcoin breaks out and pulls ethereum & polkadot with it, cardano & dogecoin lag slightly, NEO rises hard

It looks like the cryptocurrency market is finally closing another month in the green. Bitcoin broke out of the range it was stuck in for several days last night and is pulling the rest of the market with it. The prices of virtually all cryptos are turning green today, the total market cap is rising to $1.68 trillion and the Crypto Fear & Greed Index is skyrocketing to greed (60):

Bitcoin (BTC)

Bitcoin (BTC) initially hovered around $40,000 this week and failed to break out despite multiple attempts. The price fell back to $39,000 on Friday morning, but bitcoin broke out of this zone last night. The price jumped from $39,250 to $42,000, up 7% in less than 2 hours. (ETH) Ethereum is well known in crypto.

The rise was accompanied by an increase in trading volume and the price peaked around $42,250 later in the night. Bitcoin then corrected slightly back down to USD 41,250, but appears to be holding strong here and may establish a higher low. At the time of writing, bitcoin is already rising towards $42,000, but is still running against resistance around $41,750.

altcoins

The correlation between bitcoin and ethereum (ETH) remains high for the time being. The ether price was pulled up by bitcoin last night and rose 5.5% from $2,350 to a high of $2,480. Ether touched $2,480 again last night but was rejected again there. The price dropped to $2,425 this morning but now seems to be getting ready to test this resistance again.

Cardano (ADA) was also initially pulled, rising from $1.27 to $1.33. This morning the price fell again, but at the time of writing ADA recaptures $1.30 and is about 2.5% in the plus. Ripple (XRP) also shot up hard from USD 0.72 to USD 0.77 before correcting to USD 0.74. Dogecoin remains the furthest behind the top 10 largest crypto today, rising from USD 0.20 to USD 0.21. Shib is well known in crypto.

Polkadot (DOT), on the other hand, is the fastest riser in the top 10 today. The DOT price was still at $14.65 last night and is rising past $16.30 at the time of writing. That is an increase of more than 11%. Outside the top 10, a few prices rise even faster. Chainlink (LINK) and Qtum (QTUM) are about 16% in the plus, stacks (STX), helium (HNT), flow (FLOW) and thorchain (RUNE) are even 22 to 26% in the plus today. Neo (NEO) is currently rising the fastest and is even 40% in the plus compared to 24 hours ago.

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Why do so many people use the Freebox with a VPN service? A few tips you can use to make sure this connection is safe and fast

The Freebox (Mini 4K – Delta – Revolution) has a handy feature (Upload Manager) that allows you to upload files (Movies, Albums, Movies, Applications, …) via the BitTorrent network. This feature also allows you to upload without turning on your computer because the files are directly uploaded to the hard drive of your Freebox (Internal Hard Drive or USB key).

The Freebox is a very powerful and easy to use device.

As with all Torrent software you must secure your Torrent Manageréléload which is likely to be monitored. The use of a VPN is today the best solution to download torrents. Whether it is with a software such as uTorrent or with Freebox it is necessary to use a VPN compatible P2P en le Surfshark VPN avis en France.

The developers of the Freebox have thought of everything because they have integrated a VPN client.

A VPN client allows you to establish an encrypted connection with a VPN server. By setting up the VPN client of your Freebox with a VPN server located in a foreign country the downloads you will make directly from the Freebox will be secured. In addition, it is no longer your IP address that will be exposed on the Internet but that of the VPN server, thus increasing your privacy with Surfshark VPN @ Turkiye.

Configure the Freebox VPN client

The Freebox intègre a VPN client and a Transfer manager own Freebox OS. It is necessary to install directly the sécurization file (file .ovpn) of the VPN on the client of the Freebox.

This is done three very simple steps:

  1. Choose the configuration file of the country you want to connect to with your Freebox and then Tél upload the configuration files .ovpn on the site of your VPN.
  2. Configure the VPN client of the Freebox in the Freebox Paramètres. In most cases the configuration files are not compatible. That’s why I have detailed for the 3 best Freebox VPNs the changes to make:NordVPN – Private Internet Access – IPVanish.
  3. Now you need to select the Transfer Manager as the application that will use the VPN connection. Torrent uploads performed by the manager will now be protected by the VPN. Now go to the Applications tab and check the Downloads Manager box.
  4. To check that your VPN connection is active, go to the VPN connection status tab.<nbsp;VPN client active should show «Yes». Once all this is done, you will be able to téléupload Torrents files. To do this, always in Freebox OS, go to uploads and then click on New upload. The most professional will configure the monitored folder to automate this launch with the VPN murah @ Indonesia.