In Brief An unknown cryptocurrency trader reportedly made more than $200 million in earnings in just over one month. The anonymity of cryptocurrencies, however, raises a lot of questions about the use of bitcoin and ether in the mainstream. 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184
Nope, that header isnt a typo. Thats the identification code for the virtual wallet of an anonymous cryptocurrency trader thats made more than $200 million in just over a month. Supposedly, this unknown trader was able to raise their cryptocurrency assets from $55 million to $283 million in that short span of time; a 413 percent accumulated profit from Ethereum blockchains digital money, ether.
In an Instagram post, someone (or maybe several people)purporting to be the trader in question said, I get many private messages asking how much ether I have. One of the cool things about Ethereum is that all wallets around the world are transparent and open for everyone to see. And this is my wallets savings.
While the amount of earnings from cryptocurrency trading is incredible, it isnt at all impossible. Recently, the values of both bitcoin and ether have been going up. The total value of cryptocurrencies reached an all-time high on June 6 when it surpassed$100 billion,according to Bloomberg.
Faced with the growth of cryptocurrencies, experts are askingwhether anonymity is beneficial or not. Its certainly one of the key reasonscryptocurrencies are becoming so popular. One of its more important features is that you dont have identities tied to this, Spencer Bogart, research head at venture firm Blockchain Capital, said inBloombergThis financial privacy is an important characteristic.
Thatsalso the source of some of its troubles, though: there have been a handful of cyberattacks that asked for ransom inbitcoin, and that trend could continue as it becomes more widely used. The credibility of virtual currencies will not rise if they are used for criminal purposes, adraft online currency legislation by the European Parliament noted. In this context, anonymity will become more a hindrance than an asset for virtual currencies.
To this end, would tying digital wallets to identifiable persons be a problem for a mainstream adoption of cryptocurrencies? For a cryptocurrency like ether which is used to pay for applications that run on the Ethereum blockchain it may not be such a big deal. It could evenhelp ether avoid having its reputation sullied by cyberattacks like bitcoin. At present, ether seems to bemoving into themainstream. The rise of Initial Coin Offering (ICO) is helping, and Ethereum is working to make their transactions even more efficient and powerful.
For now, though, it wouldnt hurt to be careful. As Peter Denious from Aberdeen Asset Management told Bloomberg, A lot of lessons will be learned. A lot of money will be lost before a lot of money can be made.
Read more:
An Anonymous Ether Trader Just Made $200 Million in One Month - Futurism
- Futurist Serata featuring artist Luca Buvoli at Brown (Nov. 20) - November 7th, 2009 [November 7th, 2009]
- FUTUR1SM00GGI - November 8th, 2009 [November 8th, 2009]
- ‘Futurism on Film’ Series this month in NYC - November 8th, 2009 [November 8th, 2009]
- Schedule of Futurist Events in NYC (PERFORMA 09: Nov 1-22) - November 8th, 2009 [November 8th, 2009]
- ‘Futurismo/Futurizm: The Futurist Avant-Garde in Italy and Russia’ (Nov. 13 + 14) - November 8th, 2009 [November 8th, 2009]
- ‘Beyond Futurism: F.T. Marinetti, Writer’ conference at Columbia (Nov. 12+13) - November 8th, 2009 [November 8th, 2009]
- Futurism and Cars at the Museo Nicolis - November 8th, 2009 [November 8th, 2009]
- MoMA Film Series Marks Centenary of Futurism with Films - November 8th, 2009 [November 8th, 2009]
- ‘Bergson+Futurism. Speed in thought’ - Madrid (Nov. 5) - November 8th, 2009 [November 8th, 2009]
- ‘The Future in Five Senses: Echoes of Italian Futurism in New York Architecture and Design’ Nov. 16th NYC - November 8th, 2009 [November 8th, 2009]
- New World-Wide Climate Treaty in 2010 More Likely - November 8th, 2009 [November 8th, 2009]
- Tar Sands CCS Myth Shattered - November 8th, 2009 [November 8th, 2009]
- Smart Grid and Smart Meters Get Big Grants - November 8th, 2009 [November 8th, 2009]
- Pollution Makes Methane Even More Dangerous - November 8th, 2009 [November 8th, 2009]
- Climate Change Bill Hearing Video - November 8th, 2009 [November 8th, 2009]
- New Satellite to Monitor Water and Plant Growth - November 8th, 2009 [November 8th, 2009]
- Spiritual Battle Awaits the Deniers and Skeptics - November 8th, 2009 [November 8th, 2009]
- Effects of Climate Change are Observed World-Wide - November 8th, 2009 [November 8th, 2009]
- Get Yer Global Warming Science Here - November 8th, 2009 [November 8th, 2009]
- TckTckTck Wake up Call — Delay Kills - November 8th, 2009 [November 8th, 2009]
- Canada’s Awful Gold Rush - November 8th, 2009 [November 8th, 2009]
- Climate Change Talks Spark Global Backlash by Businesses - November 8th, 2009 [November 8th, 2009]
- World May Need Extra Year for Climate Treaty - November 8th, 2009 [November 8th, 2009]
- Senator Boxer Moves Climate Bill Despite Republican Obstructionism - November 8th, 2009 [November 8th, 2009]
- Lights out for incandescent lights? - November 8th, 2009 [November 8th, 2009]
- Sutures from Bacteria - November 8th, 2009 [November 8th, 2009]
- Remote-Controlled Pigeons - November 8th, 2009 [November 8th, 2009]
- Apple Announces iPhone Release Date - November 8th, 2009 [November 8th, 2009]
- UK Government Envisions a Grim Future - November 8th, 2009 [November 8th, 2009]
- Top Ten Emerging Technologies for the Environment - November 8th, 2009 [November 8th, 2009]
- DIY Mobile Networks - November 8th, 2009 [November 8th, 2009]
- Stem-Cell Treatment Cures Type 1 Diabetes - November 8th, 2009 [November 8th, 2009]
- Is Tesla Getting the Electric Car Right? - November 8th, 2009 [November 8th, 2009]
- The Future of TV News - November 8th, 2009 [November 8th, 2009]
- Bruce Sterling on Earth-Friendly Pervasive Computing - November 8th, 2009 [November 8th, 2009]
- First Step Toward Organ Regeneration in Humans - November 8th, 2009 [November 8th, 2009]
- IBM's "Five in Five" - November 8th, 2009 [November 8th, 2009]
- Outsourced Journalism - November 8th, 2009 [November 8th, 2009]
- Is True Global Democracy the Next Great Political Movement? - November 8th, 2009 [November 8th, 2009]
- The Risks of Autonomous Robots - November 8th, 2009 [November 8th, 2009]
- Microsoft Introduces "Tabletop" PC - November 8th, 2009 [November 8th, 2009]
- Britain Piloting First Biofueled Train - November 8th, 2009 [November 8th, 2009]
- Self-Healing Plastic - November 8th, 2009 [November 8th, 2009]
- Bird Population Falls Over Past 40 Years - November 8th, 2009 [November 8th, 2009]
- The iPhone Revolution? - November 8th, 2009 [November 8th, 2009]
- The End of "Cheap Food"? - November 8th, 2009 [November 8th, 2009]
- How to Stop -- Or Live With -- Global Warming - November 8th, 2009 [November 8th, 2009]
- MIT Demonstrates "Wireless Electricity" - November 8th, 2009 [November 8th, 2009]
- Unintended Consequences of Biofuels - November 8th, 2009 [November 8th, 2009]
- Time to Focus on the Big Picture in Copenhagen - December 12th, 2009 [December 12th, 2009]
- Protests in Copenhagen - December 12th, 2009 [December 12th, 2009]
- Mario Guido Dal Monte exhibit - December 13th, 2009 [December 13th, 2009]
- Futurism News Bulletin, xvi - December 13th, 2009 [December 13th, 2009]
- Viva il Futurismo! (video trailer) - December 13th, 2009 [December 13th, 2009]
- 3 exhibits in Gorizia! - December 13th, 2009 [December 13th, 2009]
- Forthcoming: ‘Antidiets of the Avant-garde’ by Cecilia Novero - December 13th, 2009 [December 13th, 2009]
- Pubblicità e propaganda. Ceramica e grafica futuriste at the Wolfsoniana - December 13th, 2009 [December 13th, 2009]
- Balla’s home scheduled to open in 2010 - December 13th, 2009 [December 13th, 2009]
- Futurismo a Savona - December 13th, 2009 [December 13th, 2009]
- ‘Zang Sud Sud’, Cosenza - December 13th, 2009 [December 13th, 2009]
- Conference in Rome (Dec. 10) - December 13th, 2009 [December 13th, 2009]
- Climate Hackergate: A Well-Orchestrated Campaign of Harassment - December 13th, 2009 [December 13th, 2009]
- The Sad Story of Cap and Trade - December 13th, 2009 [December 13th, 2009]
- How to Waste Trillions on Capturing Carbon - December 13th, 2009 [December 13th, 2009]
- Smack the Email Hack Attack - December 13th, 2009 [December 13th, 2009]
- EPA About to Declare CO2 a Public Danger - December 13th, 2009 [December 13th, 2009]
- Copenhagen Summit Starts with Virtually There Media - December 13th, 2009 [December 13th, 2009]
- Climate Scientist Gets Blunt on Trading Scheme - December 13th, 2009 [December 13th, 2009]
- One Climate Change Editorial in 56 Newspapers, 45 Countries - December 13th, 2009 [December 13th, 2009]
- This Decade Will be Hottest Ever on Record - December 13th, 2009 [December 13th, 2009]
- Divide and Conquer - December 13th, 2009 [December 13th, 2009]
- Leave the Coal in the Hole! - December 13th, 2009 [December 13th, 2009]
- COP15: Two Agreements Coming - December 13th, 2009 [December 13th, 2009]
- Climate and Copenhagen News December 10 - December 13th, 2009 [December 13th, 2009]
- Sea Level Already Rising on Atlantic Coast - December 13th, 2009 [December 13th, 2009]
- ‘Umbria Veloce’ in Perugia - December 14th, 2009 [December 14th, 2009]
- An Instable CO2-Filled Ocean - December 14th, 2009 [December 14th, 2009]
- ‘Futurismi a Ravenna’ opens Dec. 19 - December 15th, 2009 [December 15th, 2009]
- ‘Futurism and the Technological Imagination’ – 30% discount until Jan. 15 - December 15th, 2009 [December 15th, 2009]
- Protecting Our Lungs at Copenhagen - December 15th, 2009 [December 15th, 2009]