Crypto Tidbits: $200M of Bitcoin Liquidated, Ethereum DeFi Adoption Limited, Bloomberg Is Bullish

Crypto Tidbits: $200M of Bitcoin Liquidated, Ethereum DeFi Adoption Limited, Bloomberg Is Bullish

Another week, another round of Crypto Tidbits.

The past seven days have been volatile days for Bitcoin and other cryptocurrencies. The cryptocurrency on June 1st rallied past $10,000 for the first time in many weeks, reaching as high as $10,400.

It was an explosive move that had many expecting more upside. One Wall Street analyst went as far as to say that the breakout past $10,000 was the biggest in BTC’s storied history.

But just as fast as Bitcoin rallied, the asset tanked. Just 24 hours after the asset moved into the five digits, it plunged by $1,600 in three minutes on BitMEX, falling as low as $8,600 as longs were squeezed out of their positions.

Bitcoin price chart

Bitcoin price chart from TradingView.com

Due to the two explosive moves — one to the upside and one to the downside — over $200 million worth of derivatives on BitMEX alone were liquidated.

Analysts are currently divided as to what to make of this crypto market price action.

One prominent technical analyst, John Bollinger, creator of the “Bollinger Bands” indicator, is bearish. He recently wrote that investors in BTC should be cautious at current prices:

“The is a Head Fake at the upper Bollinger Band for $btcusd, time to be cautious or short.”

Others have been more optimistic. Mike McGlone of Bloomberg’s commodities analysis desk released a report this week on the crypto market.

In it, the strategist said that something will need to go “really wrong” for Bitcoin not to rally. McGlone cited a confluence of fundamental factors, like the money printing by central banks, the adoption of futures, the growth of Grayscale Investments, and the block reward halving.

  • Crypto Use Case Swells as Trump Goes After Twitter: There’s been a controversy brewing between President Trump and social media platforms like Facebook and Twitter over the past week. Twitter flagged an election-related tweet from the American leader as something that needed to be “fact-checked.” According to Su Zhu of Three Arrows Capital, the ongoing battle between the Administration and these social media companies will help crypto’s “web 3.0” use case:

“With the recent politicization of facebook, google, and other bigtech social media giants, the web3 thesis for crypto has never been as underrated as it is now.”

  • Grayscale’s Clients Are Accumulating Bitcoin at a Rapid Pace: According to technology data analyst Kevin Rooke, Grayscale Investments has seen an influx of Bitcoin investment activity over the past few weeks. Rooke found that the crypto investment firm, which services mostly institutional clients, has bought 9,503 Bitcoin in the past week alone. During that same time frame, miners produced 6,863 coins.

Bitcoin accumulation

Image of Bitcoin accumulation by Grayscale Investments from cryptocurrency and technology data analyst Kevin Rooke (@kerooke on Twitter).

  • Grayscale Sees Mass Ethereum Investment As Well: Grayscale’s other flagship product, the Ethereum Trust (ETHE), has seen a similar frenzy of investment. A top analyst noted that the price of a share of the Trust recently traded as high as $240, which is notable because each share is only backed by 0.094 ETH. That’s to say, the investors purchasing the Grayscale Ethereum Trust on secondary markets were valuing ETH at $230 billion, higher than Bitcoin’s market capitalization of around $175 billion.
  • Ethereum DeFi Could See Slowing Adoption: According to Multicoin Capital’s Kyle Samani, the adoption of DeFi is likely to slow due to clear “latency” issues with Ethereum:

“You just can’t build global scale trading systems for lots of users on POW chains. It just doesn’t work. High latency –> all kinds of negative second order effects. So I think for now we are near a plateau for DeFi – measured in ETH terms (not USD) – until the core latency problems are solved.”

  • Fidelity Investments Expects Growing Institutional Adoption: According to a recent study conducted by Fidelity Investments, a $2 trillion asset manager based in the U.S., digital assets will “continue to gain adoption and interest by a variety of institutional investors.” This confirms a report published by the firm last year, which found that 47% of institutional investors “view digital assets as having a place in their investment portfolios.”

Source: www.newsbtc.com

Author: Nick Chong


Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience

Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience

For twelve days straight, American citizens and a number of countries around the world have been protesting the oligarchs and police brutality. The restlessness from the uprising has slowed down some, but continues in various cities across the nation. On June 3, 2020, a reporter from Los Angeles talked to a man about the protests and he said the powers that be are not listening to people, and the best form of protest is to purchase bitcoin.

The United States is suffering and what it’s like in 2020, is a far cry from the country’s initial days in 1776. In 2020, the American people have been smashed down and kicked so much, the revolution that took place a few hundred years ago seems to be a lost cause. Americans have lost their will to resist the government’s fraud and manipulation, instead of listening to the great writings of people like Henry David Thoreau. The well known liberty advocate wrote in 1849 that the “government is best which governs least,” and he added, “I should like to see it acted up to more rapidly and systematically.” Instead, hundreds of years later the massive government and overbearing politicians have become a systemic infection on the American populace.

Unfortunately, people think that if they vote and remove Donald Trump from office, things can heal again. However, nearly every President in my lifetime, for the past 40 years, has been an aggressive war tyrant and they created militant police forces to quell uprisings. Between Bush Sr. and the Clinton era presidencies – 576,000 innocent children died. During the George W. Bush presidency, he orchestrated some of the worst wars in the Middle East and desecrated thousands of civilians. Following Bush, the American populace thought “change” was coming, but instead of bringing peace Barack Obama ordered “double-tap” drone strikes. These strikes destroyed first responders in various countries and the warfare was in express violation of the Geneva Convention. Barack Obama never repealed the Patriot Act, even though he promised he would before he was elected. Also, a 16-year old child from Yemen lost his life because of Obama’s playtime with drones. Donald Trump’s administration followed suit by killing the Yemen boy’s eight-year-old sister.

Just the other day, people complained that Trump allowed soldiers and police to squash the protests in D.C., but Obama also did the same. For instance, on June 4, 2020, protesters took over the Brooklyn Bridge and police did nothing. But on October 1, 2011, protesters took over the Brooklyn Bridge and police arrested 700 out of the 1,500 demonstrators. Americans who do their research understand that Obama helped militarize the police. Joe Biden, the Democrat who wants to be the next President, also helped too with the penning of the controversial “Tough on Crime Act.” Obama also signed the NDAA on Xmas Eve 2013. The NDAA law allows the federal government to imprison and assassinate any American citizen without trial and without charges. In fact, Barack Obama didn’t even mention the Occupiers once during press briefings and made a brief comment about the 98%, while American police tear-gassed, shot rubber bullets, and pepper-sprayed thousands of protesters.

But this is not the first time Americans were treated so unfairly with extreme force and violence. Not too many people know, but after World War 1, around 17,000 veterans who served went to Washington D.C. and started a movement called Shanty Town, sometimes called “Hooverville.” The soldiers wanted their money for all the time they spent in Europe, but instead, they were offered credit. When this happened to the former troops grew extremely upset, and the American Legion got them to move on Washington D.C. For a while, the vets were ok with the credit system the government came up with, but after the crash of 1929 many vets were unemployed. They wanted their money as soon as possible. So a large group formed called the “Bonus Army” and out of 17,000 soldiers owed money, family members, and friends also joined them to protest Washington D.C. for not paying them for time served in Europe. 17,000 quickly became 43,000 people in a matter of days. The protesters then formed Shanty Town. The White House at first, offered Shanty Town leaders roughly $10,000 to leave the White House lawn and Anacostia Flats. Reports also note that some soldiers took the money and left, while the majority stayed to protest.

By July, the encampment was running out of food and was in turmoil. Because of the rotten $10k deal, Attorney General William Mitchell ordered D.C. police to disrupt the protesters. At the time, Waters felt he had been “double-crossed” by the men who took some of the money. So after the police arrived, the veterans fought back and the D.C. police fired rounds into the crowd. Two WW1 veterans were slain that day. Eric Carlson and William Hushka were shot dead because of Washington D.C. police. At this time, President Herbert Hoover was not pleased with the outcome and he ordered the military to remove the protesters. The battle was now between the current military versus World War 1 veterans. Ugly, atrocious men that the country still worships today, Major George Patton and General Douglas MacArthur moved in on the protesters with tanks and hundreds of army members. Many of Patton’s and MacArthur’s men had bayonets attached to their rifles when they moved in on the crowd. The newspapers at the time recounted the entire Bonus Army experience.

“Cavalrymen and infantrymen jerked gas masks out of their haversacks,” the Baltimore Evening Sun reported at the time. “The spectators, blinded and choking with the unexpected gas attack, broke and fled. Movie photographers who had parked their sound trucks so as to catch a panorama of the skirmish ground away doggedly, tears streaming down their faces,” the paper read.

Following the Shanty Town members fleeing the scene, Patton’s tanks crushed Shanty Town and most of the protesting vets had fled via paths near the Anacostia River. At that time, President Hoover told MacArthur’s and Patton’s troops to stop. However, MacArthur didn’t like the President’s order and 1,000 men suffered injury from MacArthur’s military onslaught and another veteran died.

By 1933, Franklin D. Roosevelt (FDR) through Executive Order stole people’s gold and initiated the banking holiday. At the time the President basically gave JP Morgan and his gang keys to the castle. That same year, the Bonus Party formed again, trying desperately to get their money. Roosevelt wasn’t keen on paying them, but he did allow them to set up camp. People still love FDR to this day, but by 1936 when Congress passed a bill that would finally settle up with the vets, the so-called ‘hero’ FDR vetoed it. Congress finally overrode the Presidential decision and the Fed’s finally shelled out $2 billion in World War 1 payments, while the country was about to enter WW2.

American citizens have been tread on enough and 2020 is no different. Over the decades, various movements have been destroyed and dismantled by U.S. politicians and police force. On June 3, 2020, a man was being interviewed by a reporter and he told the journalist that the only way to move forward is to opt-out.

“Unfortunately we live in a system that doesn’t allow us to thrive or strive and has continually been literally on our necks,” the man said. “My natural solution for this problem is for everyone to opt-out and exit the economy and the way to do that is by buying bitcoin.”

#Bitcoin message on the streets of Los Angeles. #OptOut pic.twitter.com/fffJNmEuIb

— Jamie Redman (@jamieCrypto) June 3, 2020

The person who was interviewed in L.A. understands that the only way the populace can win is by not playing the game. Bitcoin is a peaceful protest, and we’ve known for decades on end the political class has not changed and will not change. You see instead of a few weeks, months, or a couple of years of demonstrations in front of statehouses and the white house, cryptocurrencies allow you to protest peacefully all the way until the goal is complete. Government power can end as fast as the populace wants it to, by simply removing its control over our monetary system.

Counterfeit $trillion
the state doesn’t bat an eye.⁰⁰

Counterfeit $20
⁰the state loses its mind.

— Bitcoin (@Bitcoin) May 29, 2020

Right now the monetary system doesn’t work for everyone and it only benefits the sociopaths in government and the world’s 1%. Again the best way to protest the fraudulent and manipulated money system is to join the crypto economy. Systemic oppression stems from the nation state’s money system and it continues to bolster wealth inequality. All the money that goes into the crypto economy is essentially taking away power from all the nation-states and the fiat currencies they issue. Participating in leveraging bitcoin and the counter economy is nonviolent and you won’t get hurt or arrested by joining. You don’t have to be afraid of the mob, gunfire, rubber bullets, tear gas, or looting. What’s worse for protesters on the streets today, is the fact that the police are so militant thanks to Obama and the NDAA he signed years ago. Making matters even worse than that, is that the New York Supreme court ruled that protesters can be detained indefinitely. Civil rights activists are calling it a “suspension of habeas corpus” and it is not a good sign for American demonstrators.

The protests are showing the American people are angry, but they are really not accomplishing much of anything by marching and demonstrations. Many observers think that the protesters are just making it worse and there are better ways to avoid the system. What could politicians really do if millions decided not to pay taxes? What could they do if the majority decided to opt-out of elections and voting, decided to stop using U.S. dollars, and once and for all choose to stop listening to the bureaucracy? They could not do anything because politicians would be powerless. This is exactly why bitcoin and the crypto economy is just one way, citizens from all around the world can escape the injustices of totalitarian governments.

“The authority of government, even such as I am willing to submit to — for I will cheerfully obey those who know and can do better than I, and in many things even those who neither know nor can do so well — is still an impure one: to be strictly just, it must have the sanction and consent of the governed,” Thoreau concluded in his essay “On the Duty of Civil Disobedience.” Americans and the rest of the citizens residing in many countries on earth have a duty to keep civil disobedience thriving, and bitcoin is an excellent way to make sure that goal is bolstered.

What do you think about bitcoin as a form of peaceful protest? Let us know in the comments section below.

The post Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience appeared first on Bitcoin News.

Source: cryptomoneyteam.co

Author: By TeamMMG


Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience

Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience

For twelve days straight, American citizens and a number of countries around the world have been protesting the oligarchs and police brutality. The restlessness from the uprising has slowed down some, but continues in various cities across the nation. On June 3, 2020, a reporter from Los Angeles talked to a man about the protests and he said the powers that be are not listening to people, and the best form of protest is to purchase bitcoin.

The United States is suffering and what it’s like in 2020, is a far cry from the country’s initial days in 1776. In 2020, the American people have been smashed down and kicked so much, the revolution that took place a few hundred years ago seems to be a lost cause. Americans have lost their will to resist the government’s fraud and manipulation, instead of listening to the great writings of people like Henry David Thoreau. The well known liberty advocate wrote in 1849 that the “government is best which governs least,” and he added, “I should like to see it acted up to more rapidly and systematically.” Instead, hundreds of years later the massive government and overbearing politicians have become a systemic infection on the American populace.

Unfortunately, people think that if they vote and remove Donald Trump from office, things can heal again. However, nearly every President in my lifetime, for the past 40 years, has been an aggressive war tyrant and they created militant police forces to quell uprisings. Between Bush Sr. and the Clinton era presidencies – 576,000 innocent children died. During the George W. Bush presidency, he orchestrated some of the worst wars in the Middle East and desecrated thousands of civilians. Following Bush, the American populace thought “change” was coming, but instead of bringing peace Barack Obama ordered “double-tap” drone strikes. These strikes destroyed first responders in various countries and the warfare was in express violation of the Geneva Convention. Barack Obama never repealed the Patriot Act, even though he promised he would before he was elected. Also, a 16-year old child from Yemen lost his life because of Obama’s playtime with drones. Donald Trump’s administration followed suit by killing the Yemen boy’s eight-year-old sister.

Just the other day, people complained that Trump allowed soldiers and police to squash the protests in D.C., but Obama also did the same. For instance, on June 4, 2020, protesters took over the Brooklyn Bridge and police did nothing. But on October 1, 2011, protesters took over the Brooklyn Bridge and police arrested 700 out of the 1,500 demonstrators. Americans who do their research understand that Obama helped militarize the police. Joe Biden, the Democrat who wants to be the next President, also helped too with the penning of the controversial “Tough on Crime Act.” Obama also signed the NDAA on Xmas Eve 2013. The NDAA law allows the federal government to imprison and assassinate any American citizen without trial and without charges. In fact, Barack Obama didn’t even mention the Occupiers once during press briefings and made a brief comment about the 98%, while American police tear-gassed, shot rubber bullets, and pepper-sprayed thousands of protesters.

But this is not the first time Americans were treated so unfairly with extreme force and violence. Not too many people know, but after World War 1, around 17,000 veterans who served went to Washington D.C. and started a movement called Shanty Town, sometimes called “Hooverville.” The soldiers wanted their money for all the time they spent in Europe, but instead, they were offered credit. When this happened to the former troops grew extremely upset, and the American Legion got them to move on Washington D.C. For a while, the vets were ok with the credit system the government came up with, but after the crash of 1929 many vets were unemployed. They wanted their money as soon as possible. So a large group formed called the “Bonus Army” and out of 17,000 soldiers owed money, family members, and friends also joined them to protest Washington D.C. for not paying them for time served in Europe. 17,000 quickly became 43,000 people in a matter of days. The protesters then formed Shanty Town. The White House at first, offered Shanty Town leaders roughly $10,000 to leave the White House lawn and Anacostia Flats. Reports also note that some soldiers took the money and left, while the majority stayed to protest.

By July, the encampment was running out of food and was in turmoil. Because of the rotten $10k deal, Attorney General William Mitchell ordered D.C. police to disrupt the protesters. At the time, Waters felt he had been “double-crossed” by the men who took some of the money. So after the police arrived, the veterans fought back and the D.C. police fired rounds into the crowd. Two WW1 veterans were slain that day. Eric Carlson and William Hushka were shot dead because of Washington D.C. police. At this time, President Herbert Hoover was not pleased with the outcome and he ordered the military to remove the protesters. The battle was now between the current military versus World War 1 veterans. Ugly, atrocious men that the country still worships today, Major George Patton and General Douglas MacArthur moved in on the protesters with tanks and hundreds of army members. Many of Patton’s and MacArthur’s men had bayonets attached to their rifles when they moved in on the crowd. The newspapers at the time recounted the entire Bonus Army experience.

What future awaits cryptocurrencies?
GOODBAD

“Cavalrymen and infantrymen jerked gas masks out of their haversacks,” the Baltimore Evening Sun reported at the time. “The spectators, blinded and choking with the unexpected gas attack, broke and fled. Movie photographers who had parked their sound trucks so as to catch a panorama of the skirmish ground away doggedly, tears streaming down their faces,” the paper read.

Following the Shanty Town members fleeing the scene, Patton’s tanks crushed Shanty Town and most of the protesting vets had fled via paths near the Anacostia River. At that time, President Hoover told MacArthur’s and Patton’s troops to stop. However, MacArthur didn’t like the President’s order and 1,000 men suffered injury from MacArthur’s military onslaught and another veteran died.

By 1933, Franklin D. Roosevelt (FDR) through Executive Order stole people’s gold and initiated the banking holiday. At the time the President basically gave JP Morgan and his gang keys to the castle. That same year, the Bonus Party formed again, trying desperately to get their money. Roosevelt wasn’t keen on paying them, but he did allow them to set up camp. People still love FDR to this day, but by 1936 when Congress passed a bill that would finally settle up with the vets, the so-called ‘hero’ FDR vetoed it. Congress finally overrode the Presidential decision and the Fed’s finally shelled out $2 billion in World War 1 payments, while the country was about to enter WW2.

American citizens have been tread on enough and 2020 is no different. Over the decades, various movements have been destroyed and dismantled by U.S. politicians and police force. On June 3, 2020, a man was being interviewed by a reporter and he told the journalist that the only way to move forward is to opt-out.

“Unfortunately we live in a system that doesn’t allow us to thrive or strive and has continually been literally on our necks,” the man said. “My natural solution for this problem is for everyone to opt-out and exit the economy and the way to do that is by buying bitcoin.”

#Bitcoin message on the streets of Los Angeles. #OptOut pic.twitter.com/fffJNmEuIb

— Jamie Redman (@jamieCrypto) June 3, 2020

The person who was interviewed in L.A. understands that the only way the populace can win is by not playing the game. Bitcoin is a peaceful protest, and we’ve known for decades on end the political class has not changed and will not change. You see instead of a few weeks, months, or a couple of years of demonstrations in front of statehouses and the white house, cryptocurrencies allow you to protest peacefully all the way until the goal is complete. Government power can end as fast as the populace wants it to, by simply removing its control over our monetary system.

Counterfeit $trillion
the state doesn’t bat an eye.⁰⁰

Counterfeit $20
⁰the state loses its mind.

— Bitcoin (@Bitcoin) May 29, 2020

Right now the monetary system doesn’t work for everyone and it only benefits the sociopaths in government and the world’s 1%. Again the best way to protest the fraudulent and manipulated money system is to join the crypto economy. Systemic oppression stems from the nation state’s money system and it continues to bolster wealth inequality. All the money that goes into the crypto economy is essentially taking away power from all the nation-states and the fiat currencies they issue. Participating in leveraging bitcoin and the counter economy is nonviolent and you won’t get hurt or arrested by joining. You don’t have to be afraid of the mob, gunfire, rubber bullets, tear gas, or looting. What’s worse for protesters on the streets today, is the fact that the police are so militant thanks to Obama and the NDAA he signed years ago. Making matters even worse than that, is that the New York Supreme court ruled that protesters can be detained indefinitely. Civil rights activists are calling it a “suspension of habeas corpus” and it is not a good sign for American demonstrators.

The protests are showing the American people are angry, but they are really not accomplishing much of anything by marching and demonstrations. Many observers think that the protesters are just making it worse and there are better ways to avoid the system. What could politicians really do if millions decided not to pay taxes? What could they do if the majority decided to opt-out of elections and voting, decided to stop using U.S. dollars, and once and for all choose to stop listening to the bureaucracy? They could not do anything because politicians would be powerless. This is exactly why bitcoin and the crypto economy is just one way, citizens from all around the world can escape the injustices of totalitarian governments.

“The authority of government, even such as I am willing to submit to — for I will cheerfully obey those who know and can do better than I, and in many things even those who neither know nor can do so well — is still an impure one: to be strictly just, it must have the sanction and consent of the governed,” Thoreau concluded in his essay “On the Duty of Civil Disobedience.” Americans and the rest of the citizens residing in many countries on earth have a duty to keep civil disobedience thriving, and bitcoin is an excellent way to make sure that goal is bolstered.

What do you think about bitcoin as a form of peaceful protest? Let us know in the comments section below.

The post Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience appeared first on Bitcoin News.

https://news.bitcoin.com/bonus-army-occupiers-2020-uprising-bitcoins-peaceful-protest-is-pure-civil-disobedience/

The post Bonus Army, Occupiers, 2020 Uprising: Bitcoin’s Peaceful Protest Is Pure Civil Disobedience appeared first on BTC Ethereum Crypto Currency Blog.

Source: cryptomoneyteam.co

Author: By TeamMMG


The Escobars Believe They’ve Found the Real Satoshi

The Escobars Believe They’ve Found the Real Satoshi

A new theory regarding the true identity of anonymous Bitcoin creator Satoshi Nakamoto has emerged from an extremely unlikely source. Enter the Escobar family and their story about Yasutaka Nakamoto.

The story goes like this: Yasutaka Nakamoto was a high-ranking engineer for Pacific West Airlines who worked for Colombian drug lord Pablo Escobar, smuggling drugs into the US from South America. Yasutaka disappeared completely from public view in 1992 after surviving an assassination attempt by his former employer. He then resurfaced years later to create and launch Bitcoin. He is also supposedly the brother of Dorian Satoshi Nakamoto.

At least that’s the story told to Cointelegraph by Olof Gustaffson, CEO of Escobar Inc, the multinational holding company associated with Colombian drug lord Pablo Escobar. Gustaffson is a 27-year-old Swedish entrepreneur who started his first business at age 13. By the time he was 21, he had become CEO of the Escobars’ multinational conglomerate based in Medellín, Colombia.

In a recent phone call with Cointelegraph, Gustaffson — right-hand man to Pablo’s brother Robert — relayed this fantastical version of events in an effort, he says, to silence some of the furor created by self-proclaimed Satoshi Nakamoto, Craig S. Wright.

Olof Gustafsson, CEO of Escobar Inc. Source: @olof_gustafsson/Twitter

Olof Gustafsson, CEO of Escobar Inc. Source: @olof_gustafsson/Twitter

According to Gustafsson, Yasutaka’s position as a head engineer for Pacific West Airlines made him the perfect insider for Pablo Escobar’s drug-smuggling operations. Where commercial pilot Barry Seal (played by Tom Cruise in the film American Made) had previously delivered drugs for Escobar, Yasutaka could continue carrying the torch, thanks largely to the unrestricted access afforded him in his role at the airline, says Gustafsson.

Gustafsson goes on to claim that Yasutaka’s experience with microprocessors and semiconductors supplied him with a base of technical knowledge which he would later apply to the world’s first cryptocurrency. According to Gustafsson, Yasutaka was a renegade — wild enough to work for Pablo Escobar but stubborn enough to never pledge his loyalty.

Only one public mention of any Yasutaka Nakamoto can be found online. Gustafsson directed us to a Los Angeles Times article from Oct 1. 1992, which tells the story of Hughes Aircraft Co. employee Yasutaka A. Nakamoto, who emerged unscathed after finding a pipe-bomb in his car while parked at work. The article states:

“Hughes employee Yasutaka A. Nakamoto, 39, at first thought his car had been burglarized because the window had been broken, Sgt. Andy Gonis said. He then found the device under the seat.”

As per policy, police refused to give out any further details about the bomb. They also refused to speculate as to why an aircraft engineer would find himself the target of a car bombing.

This assassination attempt marked the end of a fruitful period of drug-running collaboration for Nakamoto and Escobar, says Gustafsson. It also marked the last time Yasutaka Nakamoto was ever heard from.

Escobar Inc. has already dipped its toe into the cryptocurrency world. In 2018, Roberto Escobar launched “Diet Bitcoin,” a fork of the Bitcoin blockchain that eventually relocated to Ethereum’s ERC-20 architecture in 2019. But the company also excels at provocative publicity.

In 2016, Escobar started a GoFundMe campaign that sought to raise $50 million to accelerate the impeachment of Donald Trump. Roberto Escobar claimed to have information crucial to Robert Mueller’s investigation. The GoFundMe page was removed by the fundraising company due to a lack of clarity about how the funds were being allocated. It raised over $10 million in 10 hours before the campaign was shut down.

The same year, Escobar threatened Netflix with a $1 billion lawsuit over what he claimed were inaccurate depictions of his persona in the hit series Narcos. Roberto Escobar also demanded the right to edit subsequent seasons of the show himself.

In previous years, Roberto Escobar has claimed Satoshi approached him personally for help in building Bitcoin. Other times, Escobar has claimed that Satoshi was really a cipher for the CIA and the U.S government.

In 2019 this reporter revealed Gustafsson and Escobar to be the former owners of the Bitcoin trademark, registered with the United States Patent and Trademark Office.

Self-proclaimed Satoshi Nakamoto Craig Wright made headlines in 2019 when he staked his own claim with the USPTO for Bitcoin’s naming rights. After failing to respond to Wright’s claim in the allotted six-month time period, Gustafsson’s UK-based company, Coin Legal Ltd., lost control of the Bitcoin trademark.

Picture 2

Now the pendulum appears to have swung back the other way. The latest filings on the USPTO website show Bitcoin’s naming rights to be back under control of Coin Legal Ltd. The latest changes to the filing were made as recently as April 14. 2020, and a review process is underway at this very moment.

Like every theory about Satoshi’s identity to emerge in recent years, the story of Yasutaka Nakamoto remains light on evidence and credibility. The only person who could contest or corroborate this Bitcoin creation story would be Dorian Satoshi Nakamoto, who Gustafsson claims is Yasutaka’s brother.

Picture 3

Dorian Nakamoto was the subject of a brief but intense period of speculation in 2014 after a Newsweek reporter published claims that he was the “face behind Bitcoin.” Before eventually denying any involvement with Bitcoin, Dorian initially told reporters he was “no longer involved in that,” and that he couldn’t discuss it.

Gustafsson points to this Whitepages entry for a Dorian S. Nakamoto, which aligns with Dorian’s age and area of residence. The same entry lists six relatives, one of them Yasutaka A. Nakamoto. According to Gustafsson, this is the Nakamoto everyone has been looking for. He said:

“We believe his middle name is Akiko, and that he later went by the name Akiko. A man by the name Akiko was registered at the address of Dorian in California.”

That’s possibly corroborated by a US phonebook search which lists four of Dorian’s same relatives for one Akiko Nakamoto. The Whitepages listing for Yasutaka A. Nakamoto also shows he lived at the same address as Dorian.

But such listings don’t amount to conclusive proof, and could potentially be manipulated by unrelated third parties.

Gustafsson contends that Dorian knew all about Yasutaka’s involvement with Bitcoin, and that Dorian himself had travelled to Colombia to conduct business with Roberto Escobar in 2014, in the wake of Yasutaka’s disappearance after the carbomb-at-work incident.

This version of Satoshi, if true, can now only take posthumous credit for his invention. Gustafsson claims creating Bitcoin was one of Yasutaka’s final acts before passing away in the early 2010’s. Meanwhile, after years of harassment following the discredited Newsweek article, Dorian Nakamoto has urged Bitcoiners and cryptocurrency enthusiasts to leave him alone. Although standard journalistic practice would dictate reaching out to Dorian Nakamoto in this instance, Cointelegraph instead aims to respect Dorian’s wishes and has not contacted him.

When asked why he had come forth with this information now, Gustafsson said, “Roberto believes it is important to set the record straight.”

Source: www.bitcoindoorway.com

Author: by admin


Bitcoin Will Rise Unless Something Goes ‘Really Wrong’—Price Expected To Double

Bitcoin Will Rise Unless Something Goes ‘Really Wrong’—Price Expected To Double

Bitcoin’s 2020 rally has somewhat stalled—but the bitcoin price could be poised to soar.

The bitcoin price, up over 30% since January 1, has been hovering around $10,000 per bitcoin for the past month.

Now, bitcoin could double to $20,000 before the end of the year, returning to its 2017 all-time high, according to a bullish Bloomberg analyst.

MORE FROM FORBESBitcoin Counters Donald Trump’s Antifa Protest ThreatBy Billy Bambrough

Bitcoin has been treading water for the past few weeks, with the price struggling to break over the … [+] psychological $10,000 per bitcoin level.

“In the unlikely event of a significant change for the worst, we expect the bitcoin price to continue appreciating,” said Bloomberg’s senior commodity strategist Mike McGlone.

“This unprecedented year of central-bank easing is accelerating the maturation of the first-born crypto toward a digital version of gold, while accentuating oversupply constraints in most of the market.”

Never-before-seen central bank stimulus measures and fresh quantitative-easing is “helping independent stores-of-value such as gold and bitcoin,” McGlone found, with the bitcoin price possibly climbing as high as $28,000 this year.

McGlone also pointed to bitcoin’s strong rebound from its March coronavirus-induced crash to under $4,000 and the coronavirus pandemic accelerating the trend away from physical cash and toward digital money.

Meanwhile, bitcoin’s third supply squeeze last month could be a catalyst for the bitcoin price to begin climbing, according to McGlone.

In May, the number of bitcoin rewarded to those that maintain the bitcoin network, called miners, was cut by half—dropping from 12.5 bitcoin to 6.25.

MORE FROM FORBESBlow To Bitcoin As Coinbase Crashes In Sudden MeltdownBy Billy Bambrough

Bloomberg’s Mike McGlone thinks “something needs to go really wrong for bitcoin to not appreciate.”

“Bitcoin is mirroring the 2016 return to its previous peak,” McGlone said.

“That was the last time supply was halved, and the third year after a significant peak. After 2014’s 60% decline, by the end of 2016 the crypto about matched the 2013 peak. Fast forward four years and the second year after the almost 75% decline in 2018, bitcoin will approach the record high of about $20,000 this year, in our view, if it follows 2016’s trend.”

Elsewhere, 2020 will see “increasingly favorable technical and fundamental underpinnings” for bitcoin, with adoption, which McGlone sees as the primary bitcoin metric, remaining positive.

Bitcoin buy-to-hold interest from institutions such as Grayscale, the world’s largest bitcoin investment trust, and growth in bitcoin futures’ open interest has boosted bitcoin’s maturity and helped ease volatility.

“Maturation, greater depth and plenty more exposure via futures should continue to suppress the first-born crypto’s volatility, clearly keeping it tilted toward price appreciation,” according to McGlone.

However, bitcoin appears to be “breaking away” from the wider cryptocurrency market.

“We see little upside in the [ethereum] price absent a rising tide from bitcoin,” McGlone said.

“The pre-eminent crypto is breaking away from the pack in terms of adoption and is supported by almost-ideal macroeconomic conditions for stores-of-value amid quantitative easing.”

MORE FROM FORBESBitcoin Could Be About To Surge To $100,000 After Stock-To-Flow Update RevealedBy Billy Bambrough

The bitcoin price is currently around half its $20,000 per bitcoin high but some think it could … [+] return to that level later this year.

McGlone’s analysis echos others who see bitcoin climbing this year, with a “fourth crypto cycle” potentially approaching.

“The 2017 cycle spawned dozens of exciting projects in a wide range of areas including payments, finance, games, infrastructure, and web apps,” Andreessen Horowitz partners Chris Dixon and Eddy Lazzarin wrote in a blog post last month.

“Many of these projects are launching in the near future, possibly driving a fourth crypto cycle.”

The bitcoin and crypto community was set alight last month by news legendary macro investor Paul Tudor Jones is buying bitcoin as a hedge against the inflation he sees coming as a result of unprecedented central bank money-printing, saying bitcoin reminds him of the role gold played in the 1970s.

Earlier this week, one of the most closely-watched bitcoin analysts, an anonymous strategist who claims to be a member of an institutional investment team that manages around $100 billion in assets, has released an update to his so-called stock-to-flow model, suggesting the bitcoin price could be about to surge to around $100,000.

Source: www.forbes.com

Author: Billy Bambrough


Bitcoin Struggling to Break $10,000, But Is Bearish Bias Warranted?

Bitcoin Struggling to Break $10,000, But Is Bearish Bias Warranted?

The price of Bitcoin (BTC) has been trying to break above the psychological barrier of $10,000. However, during the week, it failed to go through this resistance. This “fakeout” caused a significant portion of the market to shift from a bullish bias to a bearish bias.

Is such a bias shift warranted in the current structure of the market? Altcoins have been continuing their upwards momentum since the drop with some demonstrating significant rallies.

Crypto market daily performance. Source: Coin360

BTC/USD 1-day chart. Source: TradingView

BTC/USD 1-day chart. Source: TradingView

The daily chart of Bitcoin is showing a harsh rejection of the $10,000 barrier. This heavy selloff is causing a momentum and sentiment shift in the market, which seems unnecessary.

The price of Bitcoin rallied above the previous high, which was $10,100. This is common, as the price takes the liquidity above this resistance to fuel a move in the opposite direction . In this case, “breakout traders” get trapped by buying the breakout.

BTC/USD 2-hour chart. Source: TradingView

BTC/USD 2-hour chart. Source: TradingView

The 2-hour chart is showing a clear picture of these moves. Price rallied above the previous resistance while failing to establish support above the $10,100 level.

By failing to do so, the price dropped back in the range, causing a massive volatile move of $800 to the downside. The drop was very rapid and quick as the price dropped in a matter of minutes.

The primary reason behind the fast pace of this drop is the chain reaction of stop/loss levels getting triggered. The majority of the traders moved their stop/loss beneath the $10,100 level, through which a vast majority of traders got stopped out.

However, is there any support level between $9,400 and $10,100? Basically not, so the price comes back to the previous support level to find buyers.

That BitMEX and other exchanges have a wick towards $8,600 is provided by leveraged trading and should be a reason to be massively cautious trading leverage or using these platforms.

The structure, which is upwards since March 12, is still valid.

BTC/USD 1-day chart. Source: TradingView

BTC/USD 1-day chart. Source: TradingView

The chart shows a clear upwards trend where constant higher lows have been made. These higher lows are a crucial factor for upward momentum, which is still happening in this case.

But now, it’s becoming crucial for the market not to make a lower low, i.e. below the $8,600 level.

However, personally, the green zone between $9,050-9,300 is an essential area to hold. If that level is lost, further downwards momentum towards $8,250-8,500 and possibly $7,500 is likely.

Total market capitalization cryptocurrency 1-day chart. Source: TradingView

Total market capitalization cryptocurrency 1-day chart. Source: TradingView

The total market capitalization of cryptocurrencies is still trending upwards. A similar fakeout to the upside is seen on the charts as with Bitcoin’s chart.

However, the total market capitalization is also acting above the 100-day and 200-day MA, which confirms a bullish trend.

Preferably, the green area between $247-251 billion needs to remain as support. As long as $247-251 billion sustains, further upwards momentum is warranted. This upwards momentum could lead to a test of the $310 billion resistance level.

A breakthrough above this high would mean a new higher high and another bullish argument for the start of a bull market.

Total altcoin market capitalization cryptocurrency 1-day chart. Source: TradingView

Total altcoin market capitalization cryptocurrency 1-day chart. Source: TradingView

The altcoin market capitalization is showing a more reliable construction than Bitcoin or the total market capitalization. Will that mean that altcoins are going to outperform Bitcoin in the coming period? Some large caps like Cardano (ADA) and Ether (ETH), for example, are already showing strength.

However, preferably support has to remain at $82-83 billion. If that sustains, further upwards momentum is confirmed on the altcoin market capitalization.

The next resistance level is $113-115 billion to be tested. Losing the $82-83 billion areas would mean a retest of the 200-day MA around $70 billion.

BTC/USD 1-day bullish scenario chart. Source: TradingView

BTC/USD 1-day bullish scenario chart. Source: TradingView

The bullish scenario is straightforward and has been stated earlier in this article. The green zone at $9,100-9,300 has to remain support to continue the momentum upwards.

A potential wick towards $8,750-8,800 is possible on the charts, but the price shouldn’t make a new lower low.

As the liquidity is already taken above the $10,000 level, a renewed test of this resistance zone should lead to a continuation upwards. Given that the charts are still providing a CME gap at $11,500, confluent with a horizontal resistance level, it’s likely to expect a rally towards $11,500 as the next resistance zone.

BTC/USD 1-day bearish scenario chart. Source: TradingView

BTC/USD 1-day bearish scenario chart. Source: TradingView

The bearish scenarios are depending heavily on whether the market holds support at the $9,100-9,300 level or not.

If the price of Bitcoin drops below the green zone, a bearish retest and confirmation of resistance will trigger continuation further downwards.

Likely targets in that regard would be the $8,250-8,500 levels and the $7,500-7,800 zones.

However, the price of Bitcoin is trending upward, so continuation to the upside is likely, particularly after the strong rally since March 12 to pare all losses.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Source: www.cryptobitnews.co.uk


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