Big Bitcoin owners are on the rise – Weekly news 47/2020

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Using Coinmotion with an internet browser is simple, whether it’s by phone or computer. Now using Coinmotion is even easier, as we have recently published a native app for the service allowing it to work even better with phones and tablets.

This week we will talk more about this new app. Additionally we will check out data according to which the number of wallets containing more than one whole bitcoin is growing. These big wallets now hold a majority of the value of all bitcoins.

In other news we have China’s recent seizure of billions of dollars worth of cryptocurrencies, applying blockchain to emergency services and much more.

Last week’s news can be read here.

The path of Bitcoin and all its users seems to continue victorious.

Coinmotion’s new app is now available

Finland’s leading crypto exchange service Coinmotion has published its own native application. With the app users can manage their funds, deposit euros and use all other features in Coinmotion’s service.

”Our customers gave us clear feedback that there is high demand for Coinmotion’s native app. This new feature will hopefully answer this demand,” comments Coinmotion’s CEO Heidi Hurskainen.

Aside exchange services, Coinmotion’s app allows users to track cryptocurrency prices in real time. Upcoming updates will also include the possibility to set price alarms among other things.

The app is available for free download from Google Play or Apple’s AppStore.

Coinmotion’s long-requested app is now finally available.

95% of BTC value in wallets with more than 1 BTC

New data reveals that wallets containing at least one bitcoin comprise as much as 95% of the combined market value of all bitcoins. Together these addresses amount to $301 billion dollars, a majority of the market value of all bitcoins.

Respectively all the millions of wallets containing less than one bitcoin constitute only 5% of bitcoin’s entire market value.

Wallets containing one bitcoin or more has also risen steadily from the year 2009 despite bitcoin’s explosive price rise. This seems to show that an increasing number of users see bitcoin as a potential investment worth acquiring in bigger quantities.

The number of Bitcoin wallets with large sums has only continued growing.

Facebook’s Libra may already come in January

Facebook’s Libra digital currency may already be launched next January, reports the Financial Times. The long-developed digital currency will at first be published as a stablecoin pegged to the US dollar.

Three persons involved in the Libra project were interviewed by the Financial Times. According to the sources, Libra will sooner or later be expanded so that its value is pegged to several fiat currencies or commodities.

The Libra Association responsible for managing the project has so far not commented on the news.

Libra has also faced a multitude of difficulties on its path, so the January date may turn out to be an overly optimistic estimate. Several politicians and other decision-makers have earlier stated they will oppose Libra’s launch. Additionally many of Libra’s most notable collaboration partners, including PayPal and MasterCard, have abandoned the project.

Libra may already be published in January, if not barred by new adversities.

China confiscates billions worth of cryptocurrencies

Authorities in China have confiscated cryptocurrencies worth in total approximately $4B dollars. The coins were seized in an operation linked to the PlusToken pyramid scheme.

A court document lists the confiscated funds as 194 775 bitcoins, 883 083 ether, 487 million XRP, 1.4 million litecoins, 27.6 miljoonaa EOS, 6 billion dogecoins and 213 72 tether. Despite these enormous amounts, authorities believe the PlusToken scam has lure even more money from its victims.

PlusToken’s 27 main perpetrators were arrested last summer. Additionally 82 other individuals have been apprehended in connection to the case.

Chinese authorities have told the confiscated cryptocurrencies will be liquidated for the benefit of China’s state. It is yet unclear how this process will unfold. If everything is sold at once, it may have a negative impact on cryptocurrency prices.

The cryptocurrency seizure brought China a bounty of billions.

Ukraine provides citizens with free crypto education

Ukraine’s Digital Transformation Ministry has published a web series with the intent of guiding citizens about cryptocurrencies, blockchain and Bitcoin-related matters. The series is available for free on YouTube.

The series is composed of eight 6-12 minute episodes, of which each handles a different basic concept or technology related to cryptocurrencies. Viewers of the series are awarded a digital certificate after watching all the episodes.

The blockchain series is part of a project by Ukraine’s government aiming to improve the digital knowledge of citizens. Aside from the series, Ukraine has also produced instructional videos about YouTube blogging as well as using digital technologies in education.

The instructional videos are freely available for everyone.

Polish city implements blockchain to emergency services 

The city of Olsztyn in Poland has become the first locality in the world to implement blockchain in its emergency services. The city’s police, fire department and ambulance services have now started using a blockchain application.

Olsztyn’s blockchain app is based on the Ethereum blockchain and SmartKey technology. SmartKey is a system which combines the blockchain to physical utilities.

SmartKey allows emergency services to for instance enter a burning building without first searching for the apartment’s key or waiting for official permission. With SmartKey and blockchain these processes are automated.

“The use of blockchain and SmartKey technology seems to be like the perfect solution, giving reassurance to building owners and inhabitants, but also freedom for our emergency services,” stated Gustaw Marek Brzezin, marshall of Olsztyn’s police forces.

Blockchain can improve the response time of emergency services. (PICTURE: Dickelbers – CC BY-SA 3.0)
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