The attack on the Capitol last week is reason enough to ban Donald Trump’s Twitter account said Jack Dorsey, the CEO of Twitter, while he also appreciated Bitcoin as a decentralized technology.

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Mr. Dorsey expressed no remorse for having banned Mr. President’s account and believed that Twitter has done the right thing. Interestingly, he spoke highly of Bitcoin and admiring its free nature and the fact that it is not controlled by any intermediary or entity. 


He was also supportive of Apple and Google Play stores simultaneous removal of Parler which is a popular social media platform as a measure against Donald Trump’s deliberate provocative posts which lead to an attack on the Capitol. Here’s Mr. CEO’s Tweet;


*"I do not believe this was coordinated […] More likely: companies came to their   own conclusions or were emboldened by the actions of others."*


Although he believed banning Donald Trump was a proper measure that was taken, he didn’t enjoy doing it as he explained it to Twitter’s leftist on his Twitter;


*“I do not celebrate or feel pride in our having to ban @realDonaldTrump from Twitter, or how we got here. After a clear warning, we’d take this action, we made a decision with the best information we had based on threats to physical safety both on and off Twitter. Was this correct?”*


Dorsey also believes that under duress he had to make that call. Furthermore, he described the circumstances as extreme, extraordinary, and untenable which pushed them to prioritize the safety of the people.

Dorsey believes that this was not an extreme move and shouldn’t turn into a common practice for social media platforms. 


*"This moment in time might call for this dynamic, but over the long term it will be destructive to the noble purpose and ideals of the open internet[…]having to ban an account has real and significant ramifications [..] sets a precedent I feel is dangerous: the power an individual or corporation has over a part of the global public conversation."*


And at the end, he admired Bitcoin for its free nature that cannot be controlled by any organization, individual entity.


*“The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity. This is what the internet wants to be, and over time, more of it will be.”*


Twitter CEO Justifies President Trump’s Twitter account Ban and expresses his interest Bitcoin as a free technology

Anyone who has been dealing with Bitcoin knows that to transfer any amount of BTC you need a Bitcoin address, and that there are 3 types of addresses; Legacy, Nested SegWit and Native SegWit.

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Almost all Bitcoin traders have used Bitcoin address and can generate these addresses either through an online wallet service or in an exchange. These address can be stored differently depending on your preference. You may use an online wallet, offline one or a slip of paper only. These addresses, however, can be of 3 types, here we will consider them briefly;


## **Legacy (P2PKH) format**


P2PKH which stands for "Pay To PubKey Hash" is the most popular address format that starts with “1”. This address format was the very original and first format used by Bitcoin.


## **Nested SegWit (P2SH) format**


P2SH stands for “Pay To Script Hash” and starts with “3” and it’s impossible to tell MultiSig addresses or Segregated Witness compatible addresses apart. This format is more powerful which supports things with more complex formats than Legacy Functions like having multiple digital signatures for the transaction authorization.


## **Native SegWit (Bech32) format**


This format, unlike the other formats, does not start with a number but “bc1” belonging to the local SegWit address format. This format developed specifically for SegWit. You might face with an error saying “invalid address” in some exchanges if your BTC address is of this type as they don’t support this format. 

This format is of three types of which the Bech32 is the least popular. However, it’s better than the other formats for different reasons. First of all the average cost of sending BTC from this address might be lower since no extra space is required for putting the SegWit address into P2SH address. 

Secondly, Bech32 was defined in BIP173 (Bitcoin Improvement Proposal) which is a case-insensitive one so it reduces the confusion while reading it and since it has fewer character, the calculation is easier. 
In addition Bech32 offers a higher security, better optimization of the checksum error detection code, and decreases the chance of invalid addresses.

 
## **SegWit**


SegWit stands for Segregated Witness which is a soft fork that happens on Bitcoin blockchain. Indeed, it was a response to Bitcoin’s scalability problem in the shape of an upgrade protocol released in 2015 and officially implemented 2 years later.


## **How does SegWit work?**


Unlike the prior model, signatures are not stored along with the transaction data, as a result, a single block can store more transactions which increases network transaction throughput.


Did you know that there are 3 types of Bitcoin addresses? Legacy, Nested SegWit and Native SegWit

Rumor had it that last week, a South Korean video game company had made a generous offer to buy an exchange for approximately $460 million.

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Nexon, the giant Korean gaming company, which had been claimed by the local media to be willing to purchase Bithumb exchange, rejected the claim.

Sending an email to cointelegraph, Nexon clarified that they have no intention of acquiring Bithumb Company and that they cannot talk about other companies’ plans. 

Having said that, selling Bithumb seems to have been on the agenda since last August which was followed by the initial bidding which was held in the following month (September). It’s interesting to mention that this issue doesn’t seem to be really clear as police investigations are being carried out involving Bithumb board and Bithumb holdings chairman, Mr. Lee Jung Hoon.

In the meantime, there’s another ongoing investigation regarding an executive of Bithumb taking place under the fraud allegation which will jeopardize the future of Bithumb including its intention to secure a crypto company and launch an IPO.
 
It’s funny that the exchange’s popularity hasn’t been touched despite two police raids. What’s more, according to CoinMarketCap, it’s a giant in the industry coming in sixth globally in terms of the volume of the daily trading.



Nexon rejects claims of its intentions on buying Bithumb 

A grim warning to crypto-traders was issued by Britain’s financial watchdog when Bitcoin surged again after a dip.

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Red-hot cryptocurrency market investors had better be ready to lose all their money because of the risks involved said The Britain’s Financial Conduct Authority.

He also added that, Crypto firms highlight the returns that traders will gain and downplay the market risks and if things go awry, the traders that have bought an asset may not be given access to their consumer protections.


The agency added that the investors need to be fully aware of the fact that high-return investments incur high-risks as crypto-assets are highly volatile, suggesting the fact that digital currencies are unstable implying that they may or may not be converted to fiat money, therefore, they need to make their own dictions meticulously.

Monday mentioned Bitcoin as a famous instance of the coins in the digital world that undergo volatilities among other digital assets and altcoins. For example, according to data obtained from CoinDesk, Bitcoin was being traded at $31K at 3 p.m. the day before breaking its all-time-high-record at almost $42K.


You may lose all your money if you are trading Crypto

Privacy coins don’t pose huge money laundering risks than other coins do, a whitepaper argues.

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These privacy coins including Dash, Monero, Grin and Zcash are claimed to be less risky in terms of money laundering than other cryptocurrencies according to a new whitepaper by a US international law firm called Perkins Coie.

The aforementioned cited coins by the paper fit well within the current financial regulatory structure that are being used by the following; the New York Department of Financial Services (NYDFS), financial Crimes Enforcement Network (FinCEN), the U.K.’s Financial Conduct Authority (FCA), Japan’s Financial Services Agency (FSA), and the Financial Action Task Force (FATF).

Regarding the evidence of illegal use in practice, Privacy coins cause less innate AML risk comparing to other cryptocurrencies. As darknet markets reports show, 90% of the addressed utilized for transactions on these markets was Bitcoin (BTC) while Dash (DASH), Zcash (ZEC) and Monero (XMR) all together constitute only 0.3% of such transactions.

Moreover, another way privacy coins outweigh from the pre-crypto money laundering methods like paper, payment or cash is that they provide some form of transfer record while 90% of money laundering takes place undercover since non-crypto payment types can be transferred between countries without being recorded.


Less money laundering risk for privacy coins than others

Privacy coins don’t pose huge money laundering risks than other coins do, a whitepaper argues.