Cameron Winklevoss Explains How Instagram Can Delete Fake Accounts

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Tue, 05/26/2020 - 15:16
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Alex Dovbnya
Cameron Winklevoss, the co-founder of crypto exchange Gemini, explains how Instagram can easily spot phony accounts
Cameron Winklevoss Explains How Instagram Can Delete Fake Accounts
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Gemini co-founder Cameron Winklevoss is getting annoyed by the increasing number of bogus Instagram accounts that impersonate him, and the photo-sharing behemoth seems to be reluctant to tackle this hot-button problem.

Hence, he decided to take the matter in his own hands by offering Instagram a comprehensive guide on how to detect the phonies in a recent Twitter thread.
   
He believes that it would prevent his impostors from scamming people out of crypto. 

Doing Instagram’s job

One of the two ‘Bitcoin billionaires’ claims that scammers tend to create exact copies of his verified account in order to add credibility. The same applies to his brother Tyles Winklevoss. 

Hence, he says that it could be possible for Instagram to detect and delete such matches.

Taking this a step further, Winklevoss suggests identifying odd patterns in an account's behavior to determine whether it’s legitimate if there is no verification mark.   

Those profiles that tend to be routinely impersonated should be marked as ‘high risk,’ which would make it easier to suspend fake profiles.    

Social media in hot water

Numerous prominent members of the cryptocurrency industry have already complained about scams on social media that use their names for luring investors. This includes Ripple CEO Brad Galringhouse who slapped video streaming giant YouTube with a lawsuit for clamping down on XRP-related frauds back in April.

Facebook has also been taken to court on numerous occasions for not rushing to staunch fake advertising related to crypto. 

Recently, Blockstream CEO Adam Back also slammed Twitter for ‘going AWOL’ after a tweet with his impostor who claimed to be Satoshi went viral.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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Contents

While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)