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Cryptocurrency and Blockchain News and Discussions Thread

bitcoin blockchain P2P DAO decentralization digital currency cryptocurrency dogecoin Ethereum economics

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#181
kjaggard

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alright, so we are nearing the time of year I have come to expect the crypto spikes to hit. XRP is scheduled for release soon, and Weiss Ratings, a banking and investment rating consultancy has ranked crypto recently. (http://dailyhodl.com...bsolute-steals/

 

what do people think about the next 3-6 months of crypto market? are things about to start shaking up the financial world, or is it all just a bunch of hype?


Live content within small means. Seek elegance rather than luxury, Grace over fashion and wealth over riches.
Listen to clouds and mountains, children and sages. Act bravely, think boldly.
Await occasions, never make haste. Find wonder and awe, by experiencing the everyday.

#182
caltrek

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Bitcoin Fraud

 

https://www.courthou...itcoin-fraud-3/

 

Entire Article:

 

 

BOSTON — A federal judge refused Wednesday to dismiss a complaint against My Big Coin Buy, which the Commodity Futures Trading Commission claims is selling a fraudulent virtual currency that “is not a ‘commodity.’”

The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#183
caltrek

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^^^More on that story:

 

U.S. Judge Rules to Bring Alleged Cryptocurrency Scam Under Commodity Futures Trading Commission Oversight

 

 

A U.S. federal district judge has ruled that an allegedly fraudulent crypto token meets the definition of a commodity.

 

U.S. federal district judge has ruled that an allegedly fraudulent crypto token meets the definition of a commodity, bringing the case under regulators’ purview, Finance Feeds reports September 27.

 

Judge Rya W. Zobel of the Massachusetts District Court ruled Sept. 25 against a motion to dismiss a case that had been launched by the Commodity Futures Trading Commission (CFTC) against an allegedly fraudulent crypto scheme known as “My Big Coin Pay Inc.,” reported to have been based in the state of Nevada.

 

The CFTC had sued tech entrepreneur Randall Crater, and other relief defendants tied to his firm, for allegedly violating the Commodity Exchange Act (CEA) by manipulating investors to buy My Big Coin (MBC) via a series of misleading or false statements. A total of 28 investors are purported to have been defrauded of a collective $6 million, having been led to believe that MBC was “backed by gold” and was being “actively traded” on various crypto exchanges.

 

The defendants are further alleged to have “arbitrarily” manipulated the value of MBC to dissimulate the price fluctuations of a legitimate cryptocurrency, despite investors purportedly themselves being unable to withdraw funds or trade their MBC token holdings.

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The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#184
caltrek

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Cryptocurrency Chill

 

https://techcrunch.c...tock-to-plunge/

 

Introduction:

 

(Techcrunch) The cryptocurrency market is an exciting one, but it’s also unpredictable — and when things go south, they take related businesses with them. Nvidia, a hardware giant that has been riding the cryptocurrency wave, saw its stock price take a double-digit hit as it reported vanishing demand for GPUs specializing in crypto-mining.

 

It’s been a wild year in the GPU market as there were points when ordinary gamers, who have relied on Nvidia for years for the powerful cards used to play the latest games, found inventory scarce for the company’s latest generation of hardware.

 

The cards had been, and continued to be for some time, bought up by cryptocurrency mining operations, all striving to get a leg up on one another. Consumer-grade GPUs are excellent candidates for putting together low-cost, high-performance clusters that excel in solving the type of problems posed in the likes of Bitcoin mining. The cards were essentially paying for themselves due to the profitability of participating in the lucrative markets.

 

But those markets, which have been booming for much of the year, have cooled — not to say crashed — and consequently demand for GPUs has cooled as well, as Nvidia’s earnings statements show.

GettyImages-957037038.jpg?w=730&crop=1


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#185
caltrek

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Crypto Market Crashing

 

https://techcrunch.c...t-you-wish-for/

 

 

 

Techcrunch) It’s not been a pretty year for anyone who owns Bitcoin,  but the last 24 hours has been a period to forget as the cryptocurrency dropped below $100 billion in market cap for the first time in more than a year.

 

You have to go back to the end of October — the 29th to be precise — for the last time that the total circulation of Bitcoin in the market dropped below $100 billion.

 

It looks like this will be the first 24-hour period to hold that rate — so much for the relative price stability that many in the industry had complained about, be careful what you wish for!

The dip follows a decline that took Bitcoin’s price below the mark $6,000 for the first time this year — it has since plunged below $5,600. That, in turn, caused havoc in the altcoin market with valuations plummeting double-digit percentages nearly across nearly all of the top 100 valued tokens. Of the top ten, Cardano is down 14 percent, Litecoin 13 percent and Ethereum and EOS 12 percent. The changing prices also saw Ripple’s XRP token rise above Ethereum to become the second most valued cryptocurrency behind only Bitcoin.


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#186
caltrek

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Inside the Wild West World of Gift Card Bitcoin Brokering

 

https://theintercept...-trading-scams/

 

Extract:

 

(The Intercept) ERIC BECAME FASCINATED with bitcoin while using it for offshore gambling sites. That led him to his trading business, which he’s operated for over three years.

 

Here’s how it works: Eric sells bitcoin to buyers all over the world through a peer-to-peer marketplace called Paxful, charging a premium for the cryptocurrency. When Eric started his business a couple of years ago, he could charge a 100 percent markup — selling $300 in bitcoin for $600 — because buyers expected the cryptocurrency’s price to elevate, and had few options to obtain it. Nowadays, with more volatility and more competition among traders, that has dropped to around 30 percent. Paxful takes a small slice of each transaction on their service, usually about 1 percent.

 

In exchange for the bitcoin, the buyers typically swap gift cards, which are less traceable than dollars or yuan and, thanks to globalization, broadly useful all over the world. No physical card changes hands; Eric will get the number from the gift card and load it into an app called GiftMe, which generates a barcode that can be used at a checkout counter.

 

Sometimes the transaction stops there: Eric can use a gift card to buy essentials. But repeated trading requires an endless stream of bitcoin, more than he could mine or purchase on his own. So he has to use the gift cards to acquire more bitcoin, making his money on the spread between what he’s charged to buy it and what he charges to sell it.


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#187
Yuli Ban

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Bitcoin falls 5% to one-week low, with breach below $3500 at risk

Bitcoin prices on Wednesday traded to their lowest level in a week and were on the brink of falling below a psychologically significant level below $3,500.
The price of a single bitcoin, BTCUSD, -0.08%  the world’s largest cryptocurrency, was last trading at $3,700.30, down 5.2% since Tuesday at 5 p.m. Eastern Time on the Kraken crypto exchange and to its lowest level since Nov. 27.


And remember my friend, future events such as these will affect you in the future.


#188
kjaggard

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get your stuff in order to get on the buy train folks. get on at the bottom. lol.


Live content within small means. Seek elegance rather than luxury, Grace over fashion and wealth over riches.
Listen to clouds and mountains, children and sages. Act bravely, think boldly.
Await occasions, never make haste. Find wonder and awe, by experiencing the everyday.

#189
caltrek

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Thailand Issues Its First Licenses to Four Crypto Exchanges

 

https://techcrunch.c...change-license/

 

Introduction:

(TechCrunch) Thailand has joined Japan in regulating crypto exchanges after it issued its first licenses to four applicants.

 

The four that were approved as licensed brokers and dealers of cryptocurrencies in the country are Bx, Bitkub, Coins and Satang Pro. One other exchange — Coin Asset — is under extended review after replacing its management team in a bid to win a license.

 

But two that failed to win a license — Cash2Coins and Southeast Asia Digital Exchange — will shut down this month. They have until January 14 to notify their customers and move any assets outside of their exchanges. The companies were rejected on account of insufficient know your customer (KYC) processes and inadequate IT infrastructure, according to a report from the Bangkok Post.

 

The deal has been hailed as a major step forward for the legitimacy of cryptocurrencies in Thailand.

photo-01-06-2016-15-52-27.jpg?w=730&crop


The principles of justice define an appropriate path between dogmatism and intolerance on the one side, and a reductionism which regards religion and morality as mere preferences on the other.   - John Rawls


#190
eacao

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Suuuper interesting video on Bitcoin from a channel with a high standard of research when reporting

 

https://www.youtube....h?v=XXUA8XM4kt0

 

e823ba34-834f-11e7-8b91-73f9e3ef863f.png


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#191
PhoenixRu

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Those were the days...

 

25661678.png

 

I'll eat mine as well if that does not happen... cept mine will be spotted. 



#192
starspawn0

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New claim that 95% of Bitcoin trades are faked by exchanges to inflate the value:

https://www.technolo...ake-apparently/

There have been suspicions for a while that the markets are overinflated. In fact, fears of market manipulation have held up regulatory approval for a number of proposed Bitcoin exchange-traded funds (ETFs), frustrating many enthusiasts who believe that the eventual approval of ETFs will spur broader adoption of the technology by investors.

Now, in a twist, a company hoping to list an ETF has reported to US financial regulators that around 95% of all Bitcoin trading volume has been faked by exchanges.


  • Yuli Ban likes this

#193
wjfox

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Bitcoin mining ban considered by China's economic planner
 
Bitcoin creation has joined a list of activities facing a ban in China.
 
A notice published online in Mandarin by the country's economic planning agency added "virtual currency mining activities [including] the production process of Bitcoin" to a list of industries that could be shut down.
 
The suggestion is that the power consumed by the industry contributes to pollution and wastes resources.
 
The Chinese public has been invited to comment until 7 May.
 
The National Development and Reform Commission has not said when the suggested ban might be introduced.
 






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