Slush Pool and Ballet Crypto start physical blocks to create empty bitcoins
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| Slush Pool and Ballet Crypto start physical blocks to create empty bitcoins |
In cooperation with Ballet Crypto, the mining group Slush Pool will publish the blocks it has extracted in the form of "virgin" bitcoins on physical media.
According to Slush Pool, users can buy blocks from Ballet Crypto to become owners of the "physical fragment of Bitcoin's history". Unlike cash, bitcoins have a story. For example, if Bitcoin is used on illegal websites like the Silk Road, the reputation of these coins is bad.
The idea of the project is that regulated investment funds strictly adhere to the provisions of the Money Laundering Act. In addition, regulated cryptocurrency exchanges no longer accept coins that have been used in financial crimes or other illegal activities. Users and fund managers cannot trade black or gray coins.
Black currencies refer to cryptocurrencies, whose effects lead to blacklisted addresses or addresses on the blacklist. When you reach organized exchanges, these currencies are given a private label and the user can become a defendant in legal proceedings. So it is difficult to convert "black coins" into paper money "Gray pieces" are not directly related to blacklisted addresses, but their full history cannot be traced. These currencies can be mixed with services that increase the confidentiality of transactions.
The "white" parts are fully traceable until they are released. These parts were not used for illegal purposes or bought in a KYC / AML compatible exchange. The "empty" parts are those that have been left with a single support since the moment of extraction and have never moved. "White" and "empty" coins have a much higher market value, and this is a great opportunity for miners to increase their profits.
In contrast to OTC (over-the-counter) cryptocurrency platforms, Ballet Crypto is not intended for institutional investors. It's more for ordinary Bitcoin holders who have "clean" coins and who own a unique collector's copy that embodies Bitcoin in digital gold.
According to the creators of the project, a generation of two-factor keys are used for security reasons, which are encrypted with the passphrase BIP38. This phrase and private key are generated outside the network and added to each block separately. For example, a wallet is created in China and added to a block, and encrypted with a passphrase in the USA. United States
Ballet Crypto sends the physical block to the buyer before the coins are extracted. After the buyer confirms receipt of the block and its "security", Ballet Crypto Braiins will notify you that the block has been deleted and collection is complete. Because these blocks are "made to measure", users can buy a block with a reward for creating it at 12.5 BTC before halving.
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