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‘Catch Me If You Can’ Forger Believes Blockchain And Cryptocurrencies (BTC, ETH) Are The Future

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Leonardo Dicaprio can be applauded for his almost perfect portrayal of the real-life forger, turned FBI consultant, Frank Abagnale, in the blockbuster film ‘Catch Me If You Can’. The same Frank Abagnale has made a bold prediction that blockchain technology is the future of secure information processing and data settlement.

Frank Abagnale made these comments at a Blockchain Nation Miami Conference where he is quoted as saying the following:

“I think you would have to be pretty ignorant not to realize that blockchain is the way for the future, it is the best way to secure information 100 percent, so I think you will see banks, especially accounting practices and accounting firms, all move to the blockchain, keeping records through blockchain. It will be the best way to do so because you cannot break the blockchain, you cannot hack into the blockchain, you can’t change anything in the blockchain.”

His words should be heeded for he was a master forger between the ages of 15 and 21 years. In the movie played by Dicaprio, Frank Abagnale was even successful in impersonating an Airline Pilot and creating tonnes of fake checks to facilitate the theft of large sums of money by cashing them.

Eventually, Abagnale was captured and imprisoned in Miami. He would later become an FBI consultant once released. His job was geared towards helping the FBI capture similar forgers and also research on ways of making financial fraud difficult. He also runs Abagnale & Associates, a financial fraud consultancy company.

With blockchain and cryptocurrencies, Abagnale was quoted as saying that it would be impossible to commit fraud.

“One would have to be incredibly foolish not to see that [blockchain] is an incredible technology and that will be eventually adopted by all types of governments, businesses, and corporations. A cyber currency [cryptocurrency], just like anything else, it will take time to get people to understand how it works and I tell people all the time, and they say “is it safe?” I say every financial transaction has a risk. The only financial transaction in the world that exists that has no risk is a credit card because federal law takes total liability away from you.”

Mr. Abagnale stressed that crypto adoption might take a while to materialize since the pioneer coins of Bitcoin (BTC) and Ethereum (ETH) are still in their infancy. Such technologies might take up to 10 years to be fully adopted as was the case of the internet in the 80s rolling into the 90s. No one back then believed that the internet would be capable of taking the world by storm to the level where our daily lives depend on searching for answers on Google.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of marcus_jb1973 via Flickr

Bitcoin

How Casinos Are Embracing Cryptocurrency

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Digital currencies and blockchain technology have had an immense impact on several industries across the globe. One of the areas where this impact has been very profound is in the gambling sector – which has also been known for embracing the latest technologies. Gaming operators have always been at the frontlines when it comes to trying out new and innovative technologies all in a bid to keep their customers happy and interested.

That said, it was only a matter of time before cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin among many others made their mark in the gambling industry. All of the features that these digital currencies promise are, without a doubt, very desirable features for gamblers across the world.

The result is a mutually beneficial arrangement where digital currencies get the necessary boost to go mainstream while the gaming operators get a front-row seat as the world ushers in the new age of next-generation digital payments. Naturally, there has to be a framework for this and thankfully its already being implemented in both land-based casinos and in online gambling platforms. 

Crypto in Land-Based Casinos

Cryptocurrencies, since their conception, have always been digitized forms of payment. However, nearly everything is digitized nowadays. Still, brick-and-mortar casinos rely greatly on existing systems all…

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Reaching true Bitcoin anonymity through the use of mixers

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There used to be a time when Bitcoin transactions were considered fully-anonymous. Back then, cryptos were only getting started, and Bitcoin was pretty much the only one that was used, apart from a handful of the first altcoins that followed. However, as the crypto industry continued to develop, current blockchain analyzers were created, and it became clear that Bitcoin’s transparency also includes tracking the coins’ movement, even when you are simply withdrawing them from your exchange to your wallet.

This is why it became necessary to use Bitcoin mixers, also known as Bitcoin blenders or Bitcoin tumblers, such as BitMix.biz, in order to reach true anonymity.

What are Bitcoin mixers, and why do you need them?

Bitcoin mixers, as the name suggests, are online services that mix Bitcoins in order to disrupt their traceability.

Let’s say that you have a certain amount of BTC in your wallet on your crypto exchange of choice. With all the exchanges having to follow KYC/AML procedures, that means that you need to verify your identity, so that the exchange — and therefore, the authorities — will know exactly who you are and how much money you earned through trading and investing.

Once you withdraw those coins to your wallet, blockchain analyzers can track the transaction, and so your wallet…

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The Bitcoin Meltdown is Chance to Double Your Bitcoin

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Most of the cryptocurrency holders have never felt a day so bad.

After a blustering day of trading which saw Bitcoin price drop from $7,950 to $3,800, the massacre caused the worst sell-off to set a new 2020 low which not seen since April 2019.

The history of bitcoin only has a day in 2013 to compare a 40% fall, at that time bitcoin once dropped from $266 to $50, that was also a day when despair defeated the belief of bitcoin and almost no one could foresee bitcoin can recover and prices will reach $10,000 in a few years.

“Be fearful when others are greedy and greedy when others are fearful.” This is what Warren Buffett said about stock market and you can see the stock market never dies, it is just rise and fall happen in a different order at different times.

So it is with bitcoin. The bitcoin meltdown is a chance for a few bitcoin traders while the others are running away.

One typical way is to short bitcoin. Futures trading allows traders to make profits out of the future price difference of the derivatives. However, when during horizontal movement of prices, futures trading may gain you fewer profits to cover the possible loss of the margin.

Is there…

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