Ripple and Stellar Lumens Up After Judge Ruling

Gold-backed bricks could destabilize the Dollar U.S government selling Silk Road Bitcoin Library loses case with the SEC While xrp wins their case with the SEC Sort of another BTC mainnet launch has Been delayed a lithium releases new Desktop wallet and Ice River drops the Price of the kso all that and more on Today's episode of blocks your One-Stop Shop for all cryptocurrency news as Quickly as possible from the perspective Of a cryptocurrency miner let's go ahead And get into it Foreign Summit the brics alliance will meet to Discuss the creation of a new currency That will change or challenge the Dominance of the US dollar this next Summit will be held in South Africa and If a new rival currency is established It could potentially cause hardships for The American economy if it gains the Trust of international markets author Turned analyst Robert Kiyosaki famous For his book Rich Dad Poor Dad predicts That the US dollar will die once brics Launches its new currency Kiyosaki Believes that if the brics currency is Backed by gold the global decline of the US dollar will begin Russia has already Confirmed that the brics currency will Indeed be backed by gold by returning to The gold standard form of reserves and Ending Reliance on the US dollar this

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Move could put the American currency Under pressure and limit its ability to Fund its deficit though the supply and Demand Dynamics currently favored the US Dollar this could take a turn if bricks Launch their new currency Kiyosaki in a Recent Twitter post predicted that on August 22nd 2023 in Johannesburg South Africa the British Nations will announce A gold-backed cryptocurrency leading to The demise of the US dollar he warns That trillions of US Dollars will flow Back into the country causing inflation To Skyrocket Kiyosaki advises Investing In Gold Silver and predicts that Bitcoin Will reach a hundred and twenty thousand Dollars the following year however the Launch of a new currency poses its own Challenges India for instance has hinted That it may not be fully on board with The idea as it wants to focus on Strengthening its own native currency The rupee rather than adopting another Currency the US government has made Significant moves involving Bitcoin Linked to the infamous Silk Road case Let's dive into the details according to On-chain data 2 wallets associated with The US government and tied to the Silk Road seizure of cryptocurrency have Moved a staggering 300 million dollar Worth of bitcoin these transactions took Place on Wednesday morning and it's Quite significant move in the crypto

World following the transfer the price Of Bitcoin experienced a slight dip of 0.8 percent bringing it down to 30 480 US Dollars however as a press time the Price has already recovered to thirty Thousand six hundred and sixty dollars Looking closer at the blockchain we can See that these government controlled Wallets sent a total of nine thousand Eight hundred and twenty five Bitcoins Which amount to approximately 301 Million US Dollars that's a substantial Sum interestingly it is not the first Time these wallets have made significant Transfers back in March one of these Wallets sent over one billion US dollars In Bitcoin causing a significant Market Slump across all major cryptocurrencies We can only speculate on the reasons Behind the recent transactions it is Possible that the US government is Liquidating the seized assets from the Silk Road case or perhaps using the Cryptocurrencies for other purposes Whatever the reasons may be it is clear That this move has caught the attention Of the crypto Community as always it's Essential to keep an eye on how such Large-scale transactions impact the Market it's fascinating to see how the Blockchain provides transparency in These government related movements a Federal judge has ruled that Library Incorporated is liable for violating U.S

Securities Law which has caused the Library token to plummet by nearly 18 Percent today the company behind the Library protocol has been ordered to Cease offerings unregistered Securities Unless it registers with the U.S Securities and Exchange Commission Furthermore Library Incorporated has Been fined 111 614 US Dollars and they Have 30 days to pay the fine in response To the Court's order the library team Has announced that they will be winding Down Library Incorporated entirely in The coming months however it's important To note that the SEC never saw a Complete shutdown of the project their Aim was for the project to refrain from Any unregistered Securities offerings Return any profits from those activities And pay civil penalties during the Litigation process the SEC pointed out Libraries explicit Publications on their Website where they offered LBC token to Financially support their operations These tokens were available on both Their protocol and secondary markets the Recent resolution of the case did not Mention sales on secondary markets and It does not explicitly label LBC tokens As Securities this means that the Judgment does not dictate whether or not LBC is considered a security in November Of last year judge Paul J barbadoro Ruled against Library stating that there

Was no reasonable dispute regarding the Sec's claims following this ruling Library announced their loss in the case Shortly after yesterday's resolution Jeremy Kaufman the CEO of Library posted On Twitter claiming he has always wanted To follow the law and that no one can Tell him what is allowed and what is not Allowed Library boasts an impressive Network of 30 million pieces of content 1.7 billion on-chain identities quality Open source code and support from Well-known creators they also claim to Have clear regulatory standing second Only to bitcoin and ethereum we have an Important update on the ongoing legal Battle between Ripple labs and the U.S Securities and Exchange Commission brace Yourselves because it's a ruling that's Sure to make waves in the cryptocurrency World judge Torres stated that the xrp Token in and of itself is not inherently A security she found that programmatic Sales to the public and xrp distributed To Ripple Labs employees were not Considered the sale of unregistered Securities however she did not address The secondary market sales of xrp on Cryptocurrency exchanges now here's Where things get really interesting the Judge concluded that 728 million dollars Worth of contracts for institutional Sales did constitute the sale of Unregistered Securities these investors

Were under the impression that they Would profit from Ripple's efforts in Her ruling judge Torres explained quote Therefore having considered the economic Reality in totality of circumstances Surrounding the institutional sales the Court concludes that Ripple's Institutional sales of xrp constituted The unregistered offer and sale of Investment contracts in violation of Section 5 of the Securities act end Quote let's shift gears for a moment and Remind ourselves of Ripple lab's Mission This tech company was created to Facilitate quick and low-cost money Transfers for banks and financial Institutions since 2020 Ripple Labs Along with its CEO Bradley garlinghouse And executive chairman Christian Larson Has been locked in a legal dispute with The SEC the SEC alleged that Ripple Misled investors by raising 1.3 billion Dollars through unregistered Securities Offerings dating back to 2013. while the Ruling provided some clarity on the Classification of the xrp token it's Important to note that the court only Addressed the institutional sales and Not the activities on cryptocurrency Exchanges this ruling is sure to have Significant implications for Ripple Labs The cryptocurrency industry and The Wider regulatory landscape surrounding Digital assets bid tensor proposal

Number two has successfully passed which Means a few changes will be implemented As of today Thursday July 13 2023 at 11 A.M firstly subnet 11 will experience an Increase in emission going from zero Tau A day to a whopping 512 Tau a day this Change aims to enhance the functionality Of some subnet 11. on the other hand Subnet 1 will witness a decrease in Emission going from 7200 cow a day to 6688 Tau a day this reduction is Intended for optimization purposes Within subnet 1. lastly subnet 21 will Remain unaffected with emission level Staying at the same of zero Tau a day For those of you wondering which branch To utilize for subnet 11 and subnet one You'll need to be on the main open Validators Branch specifically version 1.1.1 however it's essential to First Pull the latest main branch with a git Pull to ensure you have the necessary Fixes that it able the smooth operation Of Subnet 11. in terms of GPU Requirements subnet 11 will have the Same GPU requirements as subnet 1. they Do recommend running a separate GPU for Each subnet to avoid potential out of Memory errors please note that Optimizing this particular aspect is Currently on their agenda to specify the Subnet you wish to run you can refer to The documentation which outlines the Instructions in a manner similar to

Subnet 1. I'll leave posts down in the Description for subnet 11 you simply Need to specif specify the net uid of 11 And for 21 the net uid of 21. however Please be aware that subnet 21 currently Has limited miners thus running a Validator on this subnet may be Challenging and prone to errors I will Update you on any developments Concerning this matter as the devs post About it moving on let's get an overview Of the latest version of a lithium Desktop wallet version 2.1 point zero This update comes with some exciting new Features bug fixes and contributions From the Community First up let's talk About the new features that have been Added to the wallet with version 2.1.0 You can now display tokens metadata Which will provide you with the detailed Information about the tokens you own Additionally the wallet now supports the Display of nfts allowing you to easily Manage and monitor your nft assets Another notable addition is the Inclusion of fiat currency options in The settings this means you can now view Your wallet balance and transactions in Your preferred fiat currency providing You with a more convenient way to track Your finances in terms of functionality The developers have introduced Experimental socks 5 proxy support this Can be useful if you want to route your

Wallet's Network through or network Traffic through a sox5 proxy for Enhanced privacy and security Furthermore the team has also included a Testnet faucet which allows you to Obtain testnet coins for development and Testing purposes this can be Particularly helpful if if you are a Developer looking to experiment with the Elysium Network moving on to bug fixes Version 2.1.0 addresses several issues That users have reported for instance The historic worth chart has been fixed After address Discovery ensuring Accurate representation of your asset History the app spinner has been Repositioned on top of side Moda for Better user experience a bug related to The display of six digit lock time year Has been resolved and the displayed Currency in the addresses list will be Corrected the assets list model has also Been fixed improving the experience While using the elliphium desktop wallet It's worth mentioning that the community Has played a significant role in Improving this version of the wallet Translations in Russian Vietnamese and Indonesia have been updated additionally A fix for the Linux window icon path has Been made by the use user 0x Jack the Wallet's translation in other languages Other than English will Now display a Disclaimer and an explanation about utxo

Dust amounts has been added in terms of Technical enhancements the team has Simplified and updated the next package Providing better package management they Have also relied more on a lithium web 3 Package instead of the elthium SDK which Will lead to improved performance and Stability aneta BTC has delayed their Main net launch due to Performance Issues originally slated for a release On July 7th it was clear something went Wrong on the 8th when they tweeted quote Thanks for the patience planning to Release final test net in the next Couple of hours followed by mainnet Launch we'll continue to update you on The progress end quote after which the Account went silent until today July 13th when they announced quote we have Found some performance issues before Going live that required us to make Back-end modifications changes have been Successfully implemented and we are Testing all changes we'll be Rescheduling the mainnet release date Thanks to our community for your Patience end quote while the specifics Are unclear it does appear the team is Working on a mainnet launch hopefully They do a better job at communicating Issues in a timely manner on their Twitter and Discord in the future Finally ice River has dropped the price On the kso to 899 US dollars at the time

Of publication the kso makes 25 dollars Per day after 10 cents per kilowatt hour Making the IR Roi just over one month However it is important to note that bit Main Asics will be launching in August To September time frame third-party Retailers have confirmed at least 5 000 Of the antminer ks3s meaning and Increasing difficulty of 41x this would Bring the profitability of the kso down To a mere 42 cents per day seeing that Shipping dates are not until the first Week of August for the kso is allies to Use Extreme Caution when considering the Kso as an investment thanks everybody For watching this episode of blocks be Sure to hit the like comment subscribe And notification bells down below check Out my crypto mining e-course over at Son of a tech.com and for my daily moves Check out son of a tech.locals.com I Will see you next Tuesday

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