proof-of-stake for Ethereum. The hope is that this will help <a href=https://www.bitdegree.org/"/crypto/buy-ethereum-eth/">Ethereum be more secure in the long run.</p>\n<p>A beacon chain is also required for establishing shard chains and assigning stakers to check shard chains at random.</p>\n<p>The proof-of-stake blockchain is said to be <strong>the core of the new Ethereum 2.0 system</strong>. It both maintains the system running and handles its users. <em>Like a security guard who is always on the lookout for what is going on around them.</em> To be more specific, validating, scanning, gathering votes, and rewarding.</p>\n<p>However, shard chains are used since Beacon Chain <strong>can&rsquo;t run <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</a></strong>.</p>\n<p>Ethereum had plans to swap for a proof-of-stake protocol for a while now. 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manipulation. <strong>It can even refer to</strong> <strong>the technical indication of the market downtrend returning to its normal state</strong>. Moreover, these &ldquo;traps&rdquo; first appeared in the stock market.</p>\n<p>Besides, these traps can show up in all types of asset markets such as futures, bonds, equities, and currencies.</p>\n<p>To put things simpler, a group of traders that have a decent amount of cryptocurrency holding could sell a large number of that amount, all at the same time. <strong>That way they convince other market partakers that a price correction is happening</strong>, so that they would sell their own holdings, and lower the prices even more.</p>\n<p>When that happens, it means that the bear trap has worked and the fraudulent traders will be able to purchase the same assets at a lower price. The price quickly goes back to the initial state, and the same traders gain a profit.</p>\n<p>Bear traps can occur over the course of a week or in a matter of hours. It begins when the number of holders eager to sell, outnumbers the number of holders ready to buy. Buyers then raise their offers, attracting additional vendors.</p>\n<p><strong>To sum this up, profits can only be seen after selling the shares, therefore, higher-income rates incentivize people to sell.</strong> As a result, investors may <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-dump/">dump shares with the anticipation that less-skilled participants would drive down the prices by selling as well. Then, of course, they buy back the big amount. The prices rise, and they profit.</p>\n<p>Nonetheless, it doesn&rsquo;t always work. The downward trend might never occur or reverse, meaning that the trader can face a loss.</p>","level":"medium","meta_title":"What is Bear Trap? Definition & Meaning | Crypto Wiki","meta_description":"Bear Trap meaning: Bear Trap - is a method of manipulating the price of a specific cryptocurrency with the goal to earn profit.","meta_keywords":null,"language":"en","created_at":"2022-02-11T07:06:35.000000Z","updated_at":"2022-05-13T14:32:22.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-bear-trap"},"prevSection":{"id":49,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Banking Secrecy Act (BSA)?","slug":"what-is-banking-secrecy-act-bsa","section":"B","keyword":"Banking Secrecy Act (BSA)","status":"published","definition":"The Banking Secrecy Act prohibits fraudsters from laundering and concealing their unlawful proceeds.","content":"<p><strong>Banking Secrecy Act is a law that prevents criminals from laundering and masking their illegal profits. </strong>And thanks to this law, money laundering, and other similar malicious acts are successfully detected and prevented on a daily basis. The policy is also known as the Currency and Foreign Transaction Reporting act.</p>\n<p>The success of BSA in managing illegal acts is often flattered, but the policy also receives some criticism regarding the absence of an explanation about &ldquo;suspect transaction.\" Because law enforcement officials do not require a court order to have access to the information.</p>\n<p>BSA obligates financial institutions and banks to reveal files of the chronology of accounts to regulated authorities, and currency exchange statements. Also, all transfers above $10,000 made by account holders of banks, must have verification and documentation.</p>\n<p>Furthermore, there are a few exceptions to the $10,000 rule and the BSA in general. This covers government departments or agencies, as well as firms listed on major North American stock markets.</p>\n<p>However, estates, organizations, firms, corporations, people, and companies must all follow the policy. For example, anyone who earns more than $10,000 in cash in a single transaction is required to file <strong>\"Form 8300\". </strong>Form submission is required for a part of monetary transactions conducted in the United States. To be precise, the paperwork must be submitted to the authorities after the 15th day after the transaction.</p>\n<p>People and companies (that operate in the gray area) are rather confused about what law they must obey and what legal responsibility they have by providing their information to the authorities.</p>\n<p>To make things clear, these companies have to get in touch with the white-collar defense attorney that had encountered cryptocurrency cases before.&nbsp;</p>\n<p>Nonetheless, laws and regulations are shifting quickly, resulting in legal issues emerging from digital currency transactions that demand the assistance of an attorney, who is both technically knowledgeable about how digital currencies work, and their legal standing.</p>\n<p>It's no secret that cryptocurrencies are seen as the financial future, and their popularity is growing by the day. This sparks considerable discussion over whether organizations who conduct exchanges using <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">Bitcoin or even <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-altcoin/">altcoins should be compelled to comply with the BSA.&nbsp;</p>\n<p>The fact that <strong>cryptocurrencies enable anonymous, virtual, and encrypted exchanges</strong> is the most alluring feature to users. You can perform any undetectable translation and store your virtual currency in <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">wallets. On the other hand, these elements make it very easy for criminals to commit malicious and illegal activities.</p>","level":"medium","meta_title":"What is Banking Secrecy Act (BSA)? Definition & Meaning | Crypto Wiki","meta_description":"Banking Secrecy Act (BSA) meaning: Banking Secrecy Act (BSA) - The Banking Secrecy Act prohibits fraudsters from laundering and concealing their unlawful proceeds.","meta_keywords":null,"language":"en","created_at":"2022-02-11T06:42:49.000000Z","updated_at":"2022-05-13T14:32:22.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-banking-secrecy-act-bsa"},"currentChapter":"B","currentSection":"what-is-beacon-chain","chapterTitle":"B","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-beacon-chain","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">