IOTA gave back some gains Wednesday, a day after the alt-coin surged on news of the beta release of the token’s new Trinity mobile wallet app. At this writing Wednesday, IOTA was down 4.92% to a market value of $4.26 billion, still good for the ninth spot among all digital currencies.
There is no direct way to buy IOTA with a credit card, debit card, or bank account on any US Exchange. The cheapest and most efficient way to obtain IOTA is to first purchase Ethereum or Bitcoin through Coinbase (Currently Ethereum offers a much lower transfer and exchange fee than Bitcoin.)
The Trinity mobile wallet initiative could increase adoption of IOTA.
“Initially a purely community-driven project, Trinity was adopted by the IOTA Foundation in order to provide assurance to the wider community that the wallet is safe to use, and as free from the threat of user error as possible,” according to the IOTA Foundation blog. “We have subsequently subjected Trinity to 2 external reviews, a threat modelling exercise and a security audit, to ensure maximum security for our users. Any threats or bugs that were identified during these two external reviews have been investigated, and mitigated or patched where required.”
IOTA sets itself apart in how it reaches consensus and how it approaches transactions. Since there are no miners, IOTA relies on each user in network to verify and approve two past transactions. This ensures that the whole network achieves true consensus.
More IOTA News
Last week, IOTA and UNOP revealed a collaboration to bring greater efficiency to operations at the United Nations.
“IOTA’s distributed ledger can provide a greater level of efficiency in the management and tracking of UN documents, supply chains and transactional payments in real-time, with access available to both UNOPS and its partners,” according to a statement.
“Cryptocurrency is a great idea” – Ron Paul
During a recent “Squawk Alley” interview, Former Republican congressman and presidential candidate, Ron Paul- discusses how he is in favor of cryptocurrencies as well as block change technology. Apparently, he enjoys competing currencies and believes they are a good idea.
He also believes that the governments only have the right to step in to prevent fraud from taking place. In the interview, Paul states that, “the government has a role. And if somebody has a case that there is fraud, I think it should be investigated.” Paul then goes on to state that what he wants to do “is legalize the freedom of choice, absent blatant fraud.” Agreeably so, this is exactly the type of perspective that the crypto world needs.
Throughout the interview, Paul compares crypto to gold in many ways. He points out how both assets are competing with traditional fiat money. He discusses how our government has never been “very tolerant of competition, and they’re not even tolerant with using the Constitution to compete with the fiat dollar. Because gold and silver, you can’t use it.”
This isn’t the first time that Ron Paul has discussed his views on crypto. Back in 2014, the Former Republican Congressman displayed his concerns about the foundation of crypto and Bitcoin. However, he acquired a bearish pro-crypto outlook on the future of fiat money. Paul believes that the dollar won’t last long as “they all self-destruct.” According to Paul, the only competition for the dollar is the euro and yen- which “isn’t any good.”
33 CryptoCurrencies In 4 Words Or Less
We put together this list to describe the top cryptocurrencies that are worth your time in 2019.
Each gets four words. There are many!
Hopefully this provides orientation.
Scroll Down To View An Awesome Infographic from MrBtc.org!
Is The IRS Coming For Your Secret Crypto Stash?
Whether we like it or not, the IRS may be coming for our secret crypto stashes. According to a recently leaked internal training guide, in order to locate people’s secret cryptocurrency stashes, the IRS may start sending subpoenas to tech companies.
In order to help protect yourself and your stash, we recommend you check out the full guide. Initiated by Laura Walter, a CPA, the guide showcases an assortment of tactics that the IRS will be using to track down and detect undisclosed cryptocurrency. Some of these tactics include obtaining bank records as well as app download history and activity.
Just last month, the slides were presented to the staffers of the IRS at an event at the World Bank in Washington D.C. It has also been noted that the IRS will be presenting the training guide to law enforcement agencies as well as other partners from countless countries around the world.
This particular guide goes over the basic concepts and definitions surrounding the cryptocurrency world. It also outlines the tactics the agents will be using to track down hidden wallets. This includes social media monitoring as well as credit card statements, PayPal activity, bank statements, etc.
For those who are concerned about protecting their crypto stash, it is important to be informed about the actions of the IRS and their planned tactics. Awareness is key. Check out the guide and protect your assets!
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