Saturday, 25 January 2020

XRP sales fell 80% in the fourth quarter of 2019

Key facts:
Sales operations in the over-the-counter (OTC) market fell 74%.
The suspension of scheduled sales is one of the reasons for the sharp decline.

Ripple's XRP cryptocurrency sales fell dramatically in the last quarter of 2019, at least in part due to the change in the way the company sells the cryptocurrency, located in the top of the market capitalization ranking.

XRP sales in the period studied fell 80%, from USD 66.4 million sold in the third quarter of 2019 to approximately USD 13 million in the fourth quarter, according to Ripple's XRP market report.

This fall can be attributed to a total suspension of the company's scheduled sales, which were valued at USD 16.1 million in the third quarter of the year. OTC operations in the over-the-counter (OTC) market also fell 74% quarter-over-quarter.

In that sense, the report explains that in the third quarter of 2019, Ripple further reduced XRP sales and paused scheduled sales. An approach he maintained throughout the fourth quarter. He adds that OTC operations were focused on providing liquidity and utility to partners in "strategic regions", which included Asia, Europe, the Middle East and Africa.

Last June Ripple announced that it would adopt a "more conservative approach" in XRP quarterly sales in order to address concerns about poorly reported volumes in cryptocurrency exchange houses. This was formalized shortly after the company sold about USD 251 million of XRP in the third quarter.

Scheduled sales were made directly to the exchange offices and were used to represent the majority of cryptocurrency sales figures, estimated at USD 144.6 million in the second quarter of 2019.

In his report, Ripple also said that his On Demand Liquidity (ODL) tool, which uses cryptocurrency as a bridge for cross-border payments, had proven successful with customers. The dollar value of XRPs operated from ODL grew by 650% between the third and fourth quarter, with transaction volumes that increased 390% in the last quarter.

Excluding the billions of tokens launched in early January, the company's reserve accounts currently have about 48.9 billion XRP tokens.

Monday, 13 January 2020

Underway campaign «Bitcoin is safe» to avoid false positives of antivirus programs

Key facts:
Bitcoin Core and Wasabi start the campaign under the #BitcoinIsSafe #WasabiIsSafe tags.
Most antivirus identifies Wasabi and Bitcoin Core as "system infections."

Recently, users of the Wasabi portfolio have reported multiple instances in which antivirus programs identify both Wasabi and Bitcoin Core as "system infections." More specifically, computer security algorithms for Avira, Bitdefender, Kaspersky, and F-Secure, and many other antivirus programs, confuse full Bitcoin nodes with unwanted cryptocurrency mining programs that run at the bottom of computers and steal power processing, a type of malicious attack whose popularity peaked during the bull market of 2017.

In response to this phenomenon, Wasabi wallet developers initiated a social media campaign, distinguished by the hashtags #BitcoinIsSafe (Bitcoin is secure) and #WasabiIsSafe (Wasabi is secure), as a way to encourage community members to Write to the providers of your antivirus software and demand that Bitcoin and Wasabi be labeled "false positives."

On the Wasabi wallet website, bitcoiners who want to join the movement can obtain an email template, a list of online forms and email addresses to send false positive label requests and some tutorials that are designed to offer a graphic guide, step by step, throughout the process.

While Wasabi is clearly encouraged to release its product from the system infection designations, the campaign is also pushing to ensure that Bitcoin Core extends as widely as possible. Wasabi contributor Riccardo Masutti explained:

Bitcoin Core is considered as the reference implementation of Bitcoin. A malware warning confuses users, and can prevent them from running a complete node, and complete nodes are among the most important parts of the entire Bitcoin ecosystem.

The Wasabi and Bitcoin Core wallet

In December 2019, the Wasabi portfolio launched its version 1.1.10, the first to include a partial integration of Bitcoin Core for users who want to connect with their full nodes. This addition effectively maximized user sovereignty, while minimizing the need to rely on Wasabi and the use of Neutrino as an alternative to complete nodes.

The Wasabi wallet is an open source, non-custodial and privacy-focused Bitcoin wallet for desktop computers. We decided to integrate Bitcoin Core to offer the user a better experience and allow users to install a complete node in the simplest way possible.

Historically, the Wasabi portfolio has never had problems with antivirus programs. However, developers have managed to identify a previous problem with Bitcoin Core on Windows, which they are trying to solve through the awareness and information campaign. On this, Massuti explained:

It was after the integration of Bitcoin Core in Wasabi that I discovered that all antivirus programs mark the software as malware, a potentially unwanted program. In the past, nobody was really interested since very few people used Bitcoin over Windows or other “commercial” operating systems. Most people installed Bitcoin Core on Linux.

GitHub reports on the antivirus software that blocks Bitcoin Core on Windows since 2014 and has been a recurring theme in 2017, 2018 and 2019. As Bitcoin adoption accelerated, the number of reports and complaints also increased. With adoption growing more and more, this trend could continue.

The problem does not only concern Windows. «To confirm the detection of false positives, I ran Bitfender Total Security 2020 on MacOS Catalina. The result was similar: antivirus software labeled Bitcoin files as malicious mining software, ”adds Massuti. Although the separation between complete nodes and mining clients has existed in Bitcoin since 2013, software security companies have not updated their policies, in fact, they have hardened their detection systems due to the emergence of background miners and navigators for altcoins as monero .

The responses of the developers

As mentioned earlier, the Wasabi social media campaign invites users to send reports about their antivirus and recommend the removal of Bitcoin Core from the list of malicious mining software to solve this problem. In that regard, Massuti explained the following :

I remembered all the previous campaigns carried out by the Bitcoin community, for example #ProofOfKeys, and I thought: Why not ask the whole community for help? After a few hours the #BitcoinIsSafe initiative, #WasabiIsSafe was born. My idea is that the best and most effective solution is to start a campaign to report false positives and tell users to report to their antivirus that Bitcoin and Wasabi are a false positive.

The plan was also described in Bitcointalk by Wasabi's main developer, Adam Fiscor, and high-profile responses ran quickly. Experienced Bitcoin Core developer Gregory Maxwell suggested that Core binaries be renamed as a way to bypass the keyword detection system of antivirus programs. This solution is presented as a complement to the reports, which would solve the problem until antivirus companies finally decide to take action.

Soon after, Bitcoin Core developer Luke Dashjr explained that voluntary mining is not malware and should be reported as a false positive. His proposal involves the creation of a more extensive list of affected projects that do not have malicious components, unlike backdoor miners, sometimes mistakenly associated with Bitcoin Core and BFGMiner.

Friday, 3 January 2020

FMI sees the Philippines as a key market for cryptocurrencies

Key facts:
According to a survey, 74% of Filipinos are aware of cryptocurrencies.
32% of respondents have cryptocurrencies, but only 14% have invested in an ICO.

The International Monetary Fund (IMF) has urged the Philippines to improve the collection of cryptocurrency transaction information, as the country increasingly attracts more players to this emerging financial environment.

"The Philippines could become an important market for cryptocurrencies," the IMF tells the Philippine authorities in a technical assistance report on the monetary and financial information mission, which was completed in July 2019.

The IMF said Banko Sentral ng Pilipinas (BSP) had already authorized the operations of three other digital currency exchange bureaus, thus bringing the total number of digital currency exchange bureaus licensed to ten.

An updated list on the BSP website shows that it had already approved a total of 13 digital currency exchange bureaus by the end of October 2019.

"The mission encourages the BSP to begin exploring the possibility of collecting information in these exchange houses for macroeconomic analysis purposes, in particular the international financial flow made with cryptocurrencies is of interest," says the IMF report published on December 30, 2019.

"The mission suggests requesting aggregate information, based on quarters, on gross operations, indicating the country of origin and the destination of the funds traded," says the IMF report. " "In addition, it could be useful to disaggregate the intermediaries involved in the transaction between individuals, both financial corporations and non-financial corporations," said the IMF.

According to a report by an Organization for Economic Cooperation and Development (OECD) entitled "Crypto assets in Asia: consumer attitudes, behaviors and experiences" published last December, a large part of Filipinos are aware of cryptocurrencies, even when currently the possession of cryptocurrencies remains in a low range due to the perceived risk of these digital assets.

The results obtained from an online survey conducted between February and March last year, showed that the level of awareness about cryptocurrencies in the Philippines was 74%, in ranges between "pretty good" with 17% of participants, " to some extent ”with 20% of the participants, and“ not very well ”with 27% of the participants.

A smaller percentage (38%) of Filipino participants also know the so-called initial coin offerings (ICO), a form of capital raising using cryptocurrencies.

However, only 32% of the participants said they currently owned cryptocurrencies, while only 14% were ICO investors.