Day: July 26, 2019

Bitcoin No Longer Desirable Option for Criminals, Says CoinCorner CEO

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Gary Davis was sentenced to 6.5 years in prison for helping manage the now-defunct darknet marketplace Silk Road. The 31-year-old Irish man, who was extradited to the United States, had served as Silk Road forum moderator between May and June 2013 before working as a site administrator between June 2013 and Oct. 2, 2013, according to a report by Irish independent radio station Newstalk on July 26. According to U.S. officials, Silk Road operated over 1.5 1.5 million transactions with a total value of more than $213 million between January…

Why Crypto Twitter’s Biggest Bull Suddenly Turned Bearish on Bitcoin

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The pseudonymous Majin isn’t the most popular trader on Crypto Twitter, but even haters must admit that he’s got a knack for reading the market and has been on a hot streak since at least December 2018. Just to give you an example of how he called the bitcoin bottom, he tweeted a chart on January 28 that shows the leading cryptocurrency bottoming out at $3,200 and pumping above $4,000. As we all know, that came to pass. This triggers the bear. pic.twitter.com/nIR4LfUFQE — Majin (@majinsayan) January 28, 2019 Since…

Fed Will Take Interest Rates to Zero, Says Billionaire Investor Kyle Bass |

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The Federal Open Market Committee (FOMC) could take a final call on lowering interest rates by a quarter percentage point in its meeting next week. But according to billionaire investor Kyle Bass, the bells of a recession could force the committee to consider even zero rates. The founder and chief investment officer of Hayman Capital Management told CNBC that he doesn’t see Fed rate cuts as a viable method to expand the US economy. He predicted a “shallow recession” in early 2020, adding that it would prompt the central bank…

Justice Dept. Charges Escrow Firm Director in $7 Million Bitcoin Fraud

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US authorities have arrested the operator of a Bitcoin escrow company for defrauding two firms of $7 million. Jon Barry Thompson – a Pennsylvania man who is the director of the Bitcoin escrow firm Volantis – has been arrested and charged with two counts of wire fraud and two counts of commodities fraud, the US Department of Justice (DOJ) stated in a press release yesterday. Thompson encouraged investors to buy bitcoin through his escrow company as his service would “eliminate any risk of loss during the purchase,” Manhattan U.S. Attorney…

Bitcoin Price Will Reach $20,000 Before the Year Ends, Believes Mike Novogratz

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Billionaire Bitcoin bull, Mike Novogratz, has predicted that Bitcoin price will hit $20,00 before the year ends. He said this during a Bloomberg interview where he also touched on Facebook’s Libra. Sometime last month, Bitcoin hit its 2019 highest point at $13,800, to continue its rally it had begun since early April when the bear market from last year ended. Shortly after, the king coin lost about $2,000 and fell back to $11,000, upsetting Billionaire bitcoin bull, Mike Novogratz. At the time, Novogratz expressed regret at not selling “a lot”…

Seven Questions That Investors Always Ask

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When faced with the task of analyzing this new project, investors will always ask the following questions. So here are our answers: What is the intrinsic value of this project? Is it unique? What is its market like? The intrinsic value of our project is its ability to decrease cost of living while increasing space efficiency. Homebloc’s uniqueness can be derived from its usage of tokens in making property transactions which allows the exchange of property to be more fluid through value circulation rather than the traditional exchange of information.…

Abra Restricts Americans From Holding EOS and 4 Other Altcoins

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California-based crypto wallet service Abra will restrict some services for American users starting from August. Abra will have to enforce some system modifications due to continued regulatory uncertainty in the United States, according to a blog post on July 25. Notably, American users will no longer be able to hold a number of cryptocurrencies, including EOS (EOS). U.S. users can’t hold certain altcoins Specifically, the platform will start migrating its smart contract-based synthetic assets to a native hosted wallet solution, adding that those assets are defined on Abra as anything…

Tron Still Hasn’t Fully Paid for BitTorrent a Year On, Creator Claims

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BitTorrent creator Bram Cohen has added to controversy swirling around Tron CEO Justin Sun by claiming he did not fully pay him for the streaming platform. Bram Cohen says last payment for BitTorrent still in escrow In a series of tweets July 25, Cohen said that the proceeds from the sale of BitTorrent, which Sun purchased last year, had not arrived in full.  Tron took over BitTorrent for an undisclosed amount in cryptocurrency, with Cohen now complaining the final installment had been stuck in escrow for two months. “Anybody know…

Bitcoin Looks Up to August to Decide its Yearly Bias

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The month of August sets the bias in the bitcoin market for the remainder of the year, Timothy Peterson of Cane Island Alternative Advisors found. The founder & portfolio manager studied the cryptocurrency’s performances in the said month throughout its trading history. He noted that August acted like a needle for bitcoin. If the month saw the cryptocurrency trending in positive territory, then it remained bullish for the rest of the year. Similarly, if the month returned negative returns, then the cryptocurrency remained in a bearish bias, at least until the…

Croatian Post Trials Crypto Exchange Service Before Possible Wider Rollout

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While post offices sometimes offer banking services, Croatian Post is looking at launching a nationwide cryptocurrency exchange service. For a pilot effort, Croatian Post, or Hrvatska Pošta, is now offering crypto-to-fiat exchanges in three post offices in the coastal town of Zadar – a place popular with tourists. Hrvatska Pošta said Thursday that the trial run will allow it to gauge the market interest for such a service and, if successful, it may roll out crypto exchanges “in all major towns and tourist centers in Croatia.” According to the announcement: “Over the…