Tag Archives: btc

Bitcoin Investors are Getting Greedy Again and It’s a Bad Thing for BTC

Bitcoin Investors are Getting Greedy Again, and It’s a Bad Thing for BTC

Bitcoin has seen some lackluster price action in recent times,

struggling to garner any decisive momentum in either direction as both buyers and sellers reach an impasse.The cryptocurrency does appear to be positioned to make another big movement in the near-term as its consolidation phase persists. One factor that could have some influence over which direction Bitcoin goes next is the fact that its investors are growing increasingly greedy. This sentiment shift is rarely positive for BTC – as it often acts as a counter indicator that suggests it will see some near-term downside. Analysts are also noting that the benchmark cryptocurrency is currently in a precarious position from a technical perspective as well. These factors all suggest that it is poised to see downside in the days and weeks ahead.

Bitcoin Investors Grow Greedy as Price Consolidates Around $9,700

Earlier this week Bitcoin incurred some massive momentum that caused it to rally up to highs of $10,400 before reeling to lows of $8,600. From this point BTC was able to post a sharp rebound, and it has since been trading sideways around $9,700. At the time of writing, it is trading down marginally at its current price of $9,740. It did attempt to post a breakout rally yesterday, but it met heavy resistance around $7,800. From a fundamental perspective, growing positive sentiment amongst the cryptocurrency’s investor base seems to indicate bears may have the upper hand over bulls. Arcane Research spoke about this in a recent report, explaining that investors are growing increasingly greedy as BTC ranges below $10,000. They note that movements into the “greed” range

tend to be short-lived.

“The Fear & Greed Index has been ranging between neutral and greedy lately… The greedy periods have been short-lived, and something investors should monitor if we finally stabilize above the neutral state,” they said.

This doesn’t necessarily mean BTC will see any sharp short-term decline, however, as the cryptocurrency could still climb higher and trap more buyers before dipping lower.

BTC’s Technical Outlook Weakens 

Technical analysis may support the notion that the cryptocurrency is poised to see some further near-term downside. One trader recently explained that he is still waiting for Bitcoin to set fresh 2020 lows, offering a chart showing a massive descending trendline that has been leading it lower over

a year-long period.

“BTC 3D TF- Still eyeing new lows patiently in 2020.”

While looking at the chart he offers, it does appear that the cryptocurrency is positioned to decline first towards $7,900 before finding any strong support.It could then decline even lower if this support is not ardently defended by buyers.

Article Produced By
Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

https://www.newsbtc.com/2020/06/05/bitcoin-investors-are-getting-greedy/

Heiko Closhen, Entrepreneur

Ousting the Greenback: USD Still King as BTC and CBDCs Mount Challenge

Ousting the Greenback: USD Still King as BTC and CBDCs Mount Challenge

The advent of digital money will threaten the U.S. dollar’s global dominance, but it won’t be easy to dethrone the current global reserve currency.

The global monetary system has been centered around the United States dollar

since at least the end of World War II when the 1944 Bretton Woods Agreement formalized the greenback’s ascent to unchallenged dominance. Control over the world’s reserve currency came hand in hand with a boost to the nation’s already enormous geopolitical influence, as well as the ability to run huge deficits at low cost. Today, a growing chorus of experts believe that the dollar’s hegemony might be in a decline. America’s diminishing share of world trade, the expansion of China’s monetary power and the anticipated digitization of national currencies can all potentially erode the foundations of the incumbent financial order. So, what role could prospective central bank digital currencies and decentralized currencies such as Bitcoin (BTC) play in shaping the new international monetary system?

America’s exorbitant privilege

One of the most common terms to denote the U.S.’s outsize influence on international trade is “monetary hegemony,” which first appeared in Super Imperialism, a 1972 book by the economist Michael Hudson. Almost half a century after its publication, many of the ideas articulated in it still hold true. As of this year, close to 60% of all foreign exchange reserves are still allocated in the dollar. Furthermore, around 40% of world trade is invoiced and settled in dollars, in addition to its 88% share of worldwide forex trades. Being in a position to mint the currency that serves as the world’s unit of account comes with a slate of perks, putting the U.S. in a position of so-called exorbitant privilege. For one, because it pays for imported goods with its own national currency, the monetary hegemony faces no balance of payments constraint. This means that it’s not at risk of losing the ability to pay for essential imports or finance its current account deficit.

Being the largest debtor nation in the world, the U.S. has taken full advantage of the dollar’s position. As all parties engaged in international trade — governments, corporations and banks — are always in need of dollar liquidity, the market has a near-infinite capacity for new dollar-denominated debt. For decades, the U.S. has been spending way beyond its means, thanks to this simplified access to cheap international credits. Additionally, this position of monetary dominance provides tremendous geopolitical leverage. By denying adversary nations access to the dollar-centered global financial system, the U.S. can inflict damage comparable to — or even beyond — that of a military intervention. Economic sanctions have long been a primary instrument of exerting pressure on nations deemed “rogue” by the State Department.

Shifting tides?

As Obama-era Treasury Secretary Jack Lew once warned, the centrality of the dollar to the global financial system hinges on other nations’ willingness to play by its current rules. In order to maintain the monetary status quo, Lew argued, the U.S. must not overuse economic sanctions in order to maintain the impression that these measures are only deployed against foreign governments for appropriate reasons and with sufficient justification. The current administration has paid little heed to these words. President Donald Trump has ramped up the use of sanctions and other financial restrictions against states such as Iran and China, weaponizing U.S. economic power to a new level. As the economist Jeffrey Sachs argued, this has led to the formation of a counter-coalition of disgruntled nations, with China and Russia at the helm, that have accelerated their efforts to de-dollarize their economies. According to Sachs, this geopolitical shift, combined with the shrinking share of the U.S. economy in the global gross domestic product, could spell the dollar’s decline as the world’s reserve currency.

Steve Kirsch, the CEO of the digital currency platform M10, is on board with Sachs’s assessment of the dollar’s current international standing. Kirsch told Cointelegraph that “President Trump is arguably the biggest force driving the rest of the world away from the USD and seeking an alternative.” At the same time, most experts agree that the potential demise of the dollar’s reserve-currency status is a rather distant prospect. Even amid the current pandemic-induced economic turmoil accompanied by a massive injection of dollar liquidity by the Federal Reserve, the markets’ faith in the incumbent reserve currency seems largely unfaltering. Marc Fleury, the co-founder and CEO of financial technology company Two Prime,

commented to Cointelegraph:

“In times of turmoil, the U.S. still shoulders a lot of responsibility and enjoys good will. The country’s recent disgraces are irrelevant to this financial reality. The green back may be tired, but it is still mighty. The more we print dollars, the more it rallies.

Centralized digital alternatives

One of the major reasons why the dollar’s hegemony persists is inertia inherent to the gigantic system of international trade. Since all the parties involved in it have been relying on the dollar for decades, one cannot simply decide to opt for an alternative, especially if it does not provide significant efficiency gains compared with the old ways. However, the impending rise of CBDCs could pose a feasible threat to the greenback’s status precisely because they could offer a faster and more convenient medium of exchange. Some observers note that China might have the best shot at challenging the dollar’s dominant position if it successfully leverages both its expanding economic influence and the usability of its prospective digital currency infrastructure. Omri Ross, the chief blockchain scientist at multiasset trading

platform eToro, commented to Cointelegraph:

“While the Chinese economy still trails behind the Western world in most per person measures in the short term, an aggressive expansionary approach to innovation in physical and digital infrastructure coupled with substantial investments in emerging markets has positioned the impending ‘digital yuan’ as a natural contender to the dollar.”

Ross added that mounting a successful monetary challenge to the U.S. would enable the Chinese government to exercise unrestrained influence on multilateral trade agreements, evade sanctions and even influence the balance of arms. Two Prime’s Fleury thinks that with the rise of China’s digital currency, two major power centers could emerge in the global monetary system, with some other national currencies close behind: “At a minimum, we will see a bipolar world banking system, with USD and Chinese Yuan denominations. The EUR/JPY may also be particularly important.” Yet another alternative vision that the world’s central bankers are pondering is a global public cryptocurrency underlain by a basket of national currencies, a design that Mark Carney, a former governor of the Bank of England, referred to as a “synthetic hegemonic currency.” Although the rise of CBDCs appears unavoidable at this point, there are clear limits to the amount and kind of change these centrally controlled assets can bring about. John Deacon, the financial services lead at blockchain firm Dragon,

told Cointelegraph:

“Their [CBDCs’] ability to disrupt the global status quo of the monetary system will be limited by the current increase in localization (due to trade wars and coronavirus), and by the need to protect their local banking sector. This opens up a niche for a non-CBDC digital currency (i.e. one that is not partisan to or affected by economic or trade policies of a single country or bloc) to serve as a store of value and medium of exchange.”

Regardless of whether a single state’s currency is paper-based or digital, it remains beholden to the national and international agenda of the nation’s government, argued Ido Sadeh Man, the founder of the cryptocurrency firm Saga Monetary Technologies,

adding:

“We could see decentralized digital currency rise to prominence as the denomination of reserves — it is very possible. […] Imagining the future global monetary system, today, feels like a forked road: either we continue to layer technology onto a flawed system, or; we unleash and experience the full capabilities of technology to redesign and strengthen the global monetary model.”

A blueprint of a decentralized reserve currency

In a scenario where the dollar remains the global monetary hegemon or even one where another national currency eventually takes its place, the nation in charge of the world’s unit of account will still be able to leverage its status through it. The uncoupling of monetary dominance from geopolitical power looks more feasible if international trade finds a way to switch to a politically neutral currency. According to some analysts, the U.S.–China standoff could actually fuel the rise of some form of a neutral solution.

eToro’s Ross observed:

“The geopolitical tensions between China and the U.S. ensuing from a race towards digital currency dominance could become a fruitful ground for the emergence of a globally independent settlement layer. Given that most businesses favor a stable macroeconomic environment, the incentive to settle transactions in a globally neutral currency would be huge. […] Whether or not the decentralized digital currency in this scenario would be Bitcoin is impossible to say. Bitcoin’s greatest challenges are still around volatility and adoption.”

James Wo, the chairman and CEO of venture capital company Digital Finance Group, is putting his money on Ether (ETH) rather than Bitcoin,

telling Cointelegraph:

“I don’t think Bitcoin can replace USD, because one important functionality of fiat is to serve as a payment tool. In the short term there’s no solid method for Bitcoin to solve its scalability issues, thus it cannot be used as a payment method. The definition of Bitcoin is closer to being a commodity, like gold. I think Ethereum (ETH) has a chance of becoming the worldwide programmable currency.”

Kirsch of M10 does not believe that Bitcoin is up to the challenge, as he considers the prospective digital euro as the most likely contender for the throne: “Bitcoin is an accounting system in the cloud. The USD is legal tender. If there is an electronic EUR issued by the ECB [European Central Bank], that could be a challenger to the USD if it were easier to electronically transact 24×7.” Fleury told Cointelegraph that, in his opinion, Bitcoin has “close to zero chances to reach reserve currency status.” Two main structural reasons for this are its volatility and its algorithmically limited supply. From a monetary policy standpoint, a global reserve currency has to be flexible. Yet another hurdle for Bitcoin is concentration of wealth, which promises to breed “shadow quadrillionaires” in the event it becomes a reserve currency. Other observers view the chances of decentralized digital currencies to eventually take over the role of a global medium of exchange more optimistically. Miles Paschini, the founder and a director of crypto investment platform B21, emphasized the potential of cryptocurrencies to offer a more useable

payment method that will see wide adoption:

“If any system provides easier access to funds, easier movement of funds and better inflationary controls, it is likely there will be a shift in adoption. This is a usability shift that can be realized through great security, user experience and real time payments. As of now all the necessary attributes don’t exist, but they are improving and in the future we certainly see technology providing these aspects.”

It is also possible that the emergence of many alternatives to the dollar will lead to a multipolar arrangement where no single currency enjoys a hegemonic status. Frank Schuil, a crypto advisor and investor, noted: “Most people believe a hybrid form is ultimately what we end up with: state based currencies, decentralized cryptocurrencies and corporate currencies.” Even given this potential diversity, Schuil believes that Bitcoin, as the “people’s money,” has the best shot at taking the winning spot.

Article Produced By
Kirill Bryanov

Kirill Bryanov is a PhD researcher at Lousiana State University. His scholarly interests center on political and societal implications of communication technology, with a focus on blockchain-powered decentalized architectures.

https://cointelegraph.com/news/ousting-the-greenback-usd-still-king-as-btc-and-cbdcs-mount-challenge

Heiko Closhen, Entrepreneur

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Theta Cryptocurrency Has Surged Far More than BTC

Theta Cryptocurrency Has Surged Far More than BTC

Bitcoin has been on fire lately, but there are other smaller currencies that are virtually on fire, one being Theta.

Theta Is Growing Like No Other Coin

The digital currency industry is full of small coins that very few people have heard of. One – called Theta – has jumped by more than 1,000 percent since reaching new lows in early March. The currency is leading a bullish wave that appears to be making its way through all corners of the cryptocurrency space. 1,000 percent is quite huge, especially when put in perspective against the bullish jumps incurred by other currencies. Bitcoin, for example, has shot up by only 120 percent since March, suggesting the younger, smaller altcoin has exuded more power in many ways.

The jump follows news that the coin’s creator, Theta Labs, has entered a partnership with search engine giant Google, which could be announced as early as today. Theta is widely referred to as a “decentralized streaming video protocol.” It’s partnership with Google will undoubtedly put it in line with YouTube, which Google owns. Theta is slated to offer its users the chance to provide bandwidth and computing resources to outside parties for digital rewards. No doubt the currency has been on a roll these past few months. Theta has also joined hands with Samsung Galaxy to bring Theta.tv to its mobile devices. Samsung announced that it would be adding the application to roughly 75 million devices, while many future phones will come with the app already programmed into them. Theta Labs co-founder and chief executive Mitch Liu commented on the partnership with Samsung,

explaining:

Our groundbreaking approach to streaming is a perfect fit for Samsung’s worldwide user base. It’s a huge step toward our goal of making Theta a global infrastructure for video content and data delivery.

Theta is joined by several altcoins on the bull train. One of the most recent assets to experience several jumps include OmiseGO, which has since surged by roughly 230 percent, nearly double that of bitcoin. The currency was added to Coinbase’s trading platform, allowing users to sell, buy and exchange the asset like they would Ethereum, bitcoin cash, or any other currency that’s available through the U.S.-based company. Coinbase has stated that it is constantly being asked by clients to add more coins to its growing roster of digital offerings.

Are Smaller Coins Trying to Distance Themselves?

Some analysts believe that the heavy jumps many of these smaller cryptocurrencies have exhibited over the past few months suggest they are trying hard to separate themselves from the market. Executives at Luno – a U.K.-based bitcoin and crypto trading platform – explained in a note

to clients:

The small caps index is now up more than 15 percent so far in May, while the other indexes are struggling to even be in the green this month.

Article Produced By
Nick Marinoff

https://www.livebitcoinnews.com/theta-cryptocurrency-has-surged-far-more-than-btc/

Heiko Closhen, Entrepreneur

IE Option 91 Profit on BTC Fluctuations in Every 60s

IE Option – 91% Profit on BTC Fluctuations in Every 60s

On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480.

Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get 91% Profit in Every 60s

IE Option, headquartered in United Kingdom, is a bitcoin-based exchange that provides options trading of BTC, ETH, LTC and EOS. Established in early 2019 and developed by the professional team including blockchain architects and financial experts who worked in City of London, IE Option has gain popularity of more than $20 million traders all around the world.

Here are the reasons why traders choose it. 

  • Fast Trade, Great Profit

IE Option allows traders to quickly get in and out of trades. If you predict BTC is about to perform an upward movement, select the volume and click the green button “up”. For instance, you use 0.1 BTC to buy/up when BTC prices at $7,000. If BTC rises to $7,000.1, you can earn 0.1 BTC. Making accurate market prediction, you can earn up to 1 BTC within 60 seconds.  

  • Demo Trading with No Risk

For beginner, IE Option provides demo trading with 10 free BTC. In demo trading, you can practice trend analysis and learn how to trade options without losing a penny. 

  • Trade on the Go

IE Option’s Android and iOS apps are available in Google Play and App Store separately. With the app, you can take good advantage of every BTC fluctuations and make profits anytime anywhere.  

  • Up to 10 BTC Giveaway for First Deposit

Each trader can enjoy up to 100% deposit bonus once. For example, if you deposit 2 BTC at a time, there will be 4 BTC credited in your account which increases your chance to earn BTC. Still losing money in spot trade and futures contracts? Options trading is the easiest and fastest trading instrument that can help you hedge the loss and double the profits!

Article Produced By
Globalcoin

Independent ICO Research and Reporting on the Biggest Cryptocurrency Winners From a Top 10 Crypto News Site

Heiko Closhen, Entrepreneur

BTC Price Analysis: Bitcoin’s Going Parabolic Since Halving But Now Facing The Real Resistance Area

BTC Price Analysis: Bitcoin’s Going Parabolic Since Halving, But Now Facing The Real Resistance Area

The Bitcoin halving event took place on May 11, three days ago.

As expected, that day was volatile to both sides, but the bottom line was that Bitcoin maintained the crucial support zone around the $8K mark. The latter includes the significant 200-days moving average line (marked light green on the following daily chart), together with a mid-term ascending trend-line. The day following the halving was calm… very calm. It was actually ‘the calm before the storm.’ Since yesterday, Bitcoin fired its engines, and despite a 5% drop of the S&P 500 index, BTC soared to a current daily high of $9945 (Bitstamp). This is an increase of more than 20% over the past three days, but most importantly, it is the fact that Bitcoin is decoupling from the global equity markets (as of now).

Now For The Real Test

As can be seen on the following 4-hour chart, Bitcoin encounters a short-term resistance descending trend-line at $9750. This, together with the critical supply zone of $9800 – $10,000 was the area Bitcoin failed to breach just a week ago, before the fatal drop to $8K (a 20% rapid drop). In case Bitcoin does break above the $10K area, the next major resistance will be $10,500, although $10,300 might provide some resistance as well. The $10,500 is the 2020 high from mid-February.

Correction Can Be Actually Healthy

As we already know, the primary cryptocurrency likes to be volatile. The recent surge from $8K was parabolic and had only minor corrections. A healthy rise is not parabolic. We all remember the most famous parabolic move of Bitcoin at the end of 2017 and how it ended. Looking at the support areas, the first significant support zone now lies between $9400 – $9500 (prior resistance). However, even forming a higher low at $9200 – $9300 will be considered healthy and bullish – Fibonacci retracement level 38.2% falls around $9270. Looking at the daily RSI indicator, we can identify some weaknesses here. The RSI found support around the critical 50 levels, but there is a bit of bearish divergence. The last time Bitcoin was hovering around the $10K mark a week ago, the RSI was touching 80. Now, the RSI is as low as 65 and facing critical ascending trend-line as resistance.

One thing is for sure: the altcoin holders have hard times watching their big brother smashing Ethereum, Ripple, Tezos, Chainlink, and all the rest.

Total Market Cap: $262 billion

Bitcoin Market Cap: $177 billion

BTC Dominance Index: 67.5%

Article Produced By
Yuval Gov

Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU – Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO.

https://cryptopotato.com/btc-price-analysis-bitcoins-going-parabolic-since-halving-but-now-facing-the-real-resistance-area/

Heiko Closhen, Entrepreneur

Double-Top Or Finally Break Above The 7200 3-Week High BTC Price Analysis

Bitcoin Price Facing Huge Decision: Bearish Double-Top, Or Finally Break Above The $7,200 3-Week High – BTC Price Analysis

The past days were promising for Bitcoin: After finally succeeding in breaking the $6800 resistance mark,

Bitcoin price had seen a decent run of $400 to the reach $7236 as the highest price since the March 12 collapse. As mentioned in our previous price analysis, while Bitcoin was trading around $6700: “we already identify bullish divergence, which can fuel the next move above.” The overall setting looks bullish on the 4-hour chart, going through healthy higher-lows trajectory. However, the mini bull-run from Thursday stopped at the same high from March 20. This might end as a double-top formation, which is a bearish pattern that marks short-term top. The latter will invalidate once Bitcoin breaks above the $7200 area and build demand around it. What we saw on Thursday is a nice tryout, but many sellers were waiting around the $7200 level, what quickly pushed Bitcoin back down to the $6600 – $6800 range. For the short term, Bitcoin found support upon the $6600 level, facing the $6800 – $6900 resistance area from above.

Total Market Cap: $189.9 billion

Bitcoin Market Cap: $123.8 billion

BTC Dominance Index: 65.2%

Key Levels To Watch & Next Possible Targets

– Support/Resistance levels:

As mentioned above, Bitcoin is now facing the familiar $6800 – $6900 resistance area. Further above lies $7000, followed by the $7200 price zone, which is defined as critical level for Bitcoin to prove short-term bullishness and cancel the double-top threat. If we see a new April high, then the next resistance should be around $7400, before reaching $7700. The last will mark a full recovery from the March 12 dump. From below, the initial level of support lies at $6600. Down below lies the $6300 – $6400 support area, followed by $6200.

– The RSI Indicator:

Despite the recent day’s bullishness, Bitcoin is still facing the crucial RSI level of 50. A bullish signal if, and only if, breaking back above the 50 RSI levels.

– Trading volume:

Thursday’s bullish run was followed by the highest amount of trading volume over the last ten days. However, the volume was still far below the March highs.

Article Produced By
Yuval Gov

Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU – Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO.

https://cryptopotato.com/author/yuvalgov/

 

Heiko Closhen, Entrepreneur

BTCPay Receives an 80000 Donations From the BTSE Team

BTCPay Receives an $80,000 Donations From the BTSE Team

Advancing the cryptocurrency ecosystem is crucial at all times.

The BTCPay project, designed to enable peer-to-peer payments in Bitcoin – received a big donation from the BTSE exchange. Accepting payments in Bitcoin usually requires relying on a payment processor.

BTCPay Receives Massive Backing

Most of these processors are centralized entities, which is not a favorable option. Thankfully, a very viable alternative has begun gaining traction in recent months. Known as BTCPay, it is an open-source P2P payment processor. To further advance the development of this project, crypto exchange BTSE is donating $80,000. More specifically, this donation is made to Andrew Camilleri, a main contributor to the project. With this donation, the developer can dedicate all of their time to BTCPay, rather than doing it “after hours”. 

It is a welcome development, especially when considering how BTCPay has always been funded entirely by donations. Now is a good time for other entities in the crypto space to pay more attention to these open source alternatives. If the adoption of Bitcoin payments is ever to be increased, free solutions like this one are crucial. It is also worth mentioning how this package supports other currencies besides Bitcoin. With no fees, KYC processes, or middlemen involved, BTCPay is everything people need to accept payments.

Article Produced By
JP Buntinx

https://cryptomode.com/btcpay-receives-an-80000-donations-from-the-btse-team/

Heiko Closhen, Entrepreneur

Estonian Company ITEZ Enables BTC Trading Via VisaMasterCard Credit Cards

Estonian Company ITEZ Enables BTC Trading Via Visa/MasterCard Credit Cards

DataBridge, an Estonian digital company, has announced the official launch of the ITEZ exchange service enabling fast and secure bitcoin trading via VISA and MasterCard credit cards. The newly established service is specifically tailored to simplify fiat to crypto conversion. 

ITEZ embedded widget solution provides for bitcoin purchasing in no time for both ITEZ website customers as well as for third-party partner websites having ITEZ solution installed thereat. In order to complete a transaction nothing more than entering a bitcoin amount, credit card number and bitcoin wallet address for cryptocurrency transfer is required. All transactions are performed as fast as the bitcoin network gets. Top security trading level is ensured through partnership with an acquirer with the highest level of PCI compliance (Level 1) under the PCI DSS (Payment Card Industry Data Security Standard). 

“‘How to buy bitcoins’ remains one of the top Internet searches with the world major search engines. However, customers are still somewhat hesitant to favour the right exchanger. The primary concern lies within making your service of choice, with only a handful of reliable and secure options available on the market,’ says ITEZ’s CEO Mr. Vitaly Medvedev. ‘ITEZ solution ensures top security level and is fully compliant with the current legislative standards. ITEZ widget is easily integrated into any website. Thus, customers can purchase cryptocurrency through well-known and trusted websites collaborating with ITEZ”. 

ITEZ platform is operated by DataBridge OU, which is incorporated in Estonia (registration number: # 4515009). DataBridge holds a virtual currency to fiat money exchange license and a virtual currency storage license, thus being completely legitimate and in conformance with the European Union regulations concerning user data protection. Both licenses are issued by the Government of Estonia (license #FVR000520 and # FRK000433 respectively).

Article Produced By
Dean

Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since 2014.

https://cryptorials.io/estonian-company-itez-enables-btc-trading-via-visa-mastercard-credit-cards/

Heiko Closhen, Entrepreneur

Craig Wright Backs out of 500000 BTC Lawsuit Settlement 0 279

Craig Wright Backs out of 500,000 BTC Lawsuit Settlement 0 279

Craig Wright, the infamous programmer claiming he’s the inventor of Bitcoin, is backing out of a 500,000 BTC settlement with the Kleiman estate. He says he can’t afford to finance the payout.

The Case Is Back On

Wright lost his case against Kleiman in August. Courts deemed he couldn’t prove he’s solely responsible for half a million Bitcoins he mined with Kleiman prior to 2014. That means the case that ended less than 90 days ago is now being re-opened. Wright battled with Ira Kleiman’s estate through his living relative David Kleiman. At the time of the court’s decision, the 500,000 BTCs were worth over $5 billion.

A motion filed on November 1st in a Florida courtroom states that both parties have reached a non-binding agreement in principle following several conference calls and in-person meetings. The plaintiffs were claiming they were no longer pursuing active litigation, but they found their efforts to be a waste of time. The law firm representing the plaintiff’s case wrote in a motion that on October 30th, 2019, they were informed Mr. Wright could no longer afford to finance the settlement and that he was “breaking” the non-binding settlement agreement.

So What’s Next?

Lawyers representing the Kleiman estate are now preparing for a new court date on March 30th of next year.

Wright is Now Fighting Back against an Old Deposition

Roche Freedman is now working to obtain a deposition of James Wilson, a chief financial officer of Craig Wright’s companies in Australia. He worked for Wright between 2012 and 2013. The plaintiffs think the comments Wilson made during that deposition are going to be crucial to the case. He was the one looking over Wright’s companies when they were sold to the Kleiman estate in exchange for Bitcoin. Wilson will be visiting Washington on November 8th to be deposed once again.

In lieu of that upcoming date, Wright’s lawyers are suggesting they will not consent to a deposition because they haven’t received 14 days’ notice for an out of state deposition as required by the law. The court documents also show the team will decide whether or not they’re willing to go through with a video deposition within the next week. This is all quite a bit of red tape to go around for Kleiman’s estate and Wright’s conduct has certainly put a strain on things.

Forgery Complaints

Emails, invoices and BitMessages were analyzed over the summer time and investigator Matthew Edman uncovered the fact there’s a good chance Craig Wright tampered with documents relating to the Tulip Trust, an account where funds were being held. This has created an atmosphere of doubt around Wright’s integrity, although a cross examination from opposing lawyers gave them a chance to refute claims. The story around Wright and the $10 billion-plus within the Kleiman estate just keeps getting more and more interesting. And it seems, it’s not exactly over yet.

Article Produced By
Jack Choros

https://cryptoradar.org/craig-wright-lawsuit/

Heiko Closhen, Entrepreneur

Ted Leonsis: the Economy is Shadowy Thanks to BTC

Ted Leonsis: the Economy is “Shadowy” Thanks to BTC

Billionaire Ted Leonsis has made a real name for himself when it comes to sports and gambling.

Recently, the mogul took a case to the Supreme Court that resulted in the U.S. relaxing some of its gambling laws. This led to less money flowing into illegal operations and more into legitimate gambling platforms.

Leonsis: Confused About Crypto?

No doubt Leonsis has done wonders for the gambling sector, but he seems to suffer from a viewpoint that many in his position are unable to shake. As we all know, bitcoin and cryptocurrency has opened up several doors to new kinds of online gambling, and while this been very good for the industry in a lot of ways, Leonsis is choosing primarily to associate crypto with the dark web, and unfortunately, he’s not the only one. The dark web paves the way for criminal activity in the crypto community. Those looking to buy drugs, guns and other illegal paraphernalia typically seek to use crypto make such purchases given that they are allegedly more anonymous than fiat or plastic credit cards. In a recent interview,

Leonsis explains:

Let’s take this shadowy economy which is going to explode even more with bitcoin and the dark web and bring it into the light, and if we can do that it will generate more jobs and it will generate tax revenues.

In this sense, Leonsis is potentially missing out on an entirely new side of crypto. For one thing, many people in his position – the Winklevoss Twins, for example – have learned to embrace the technology behind cryptocurrency as a means of steadying whatever infrastructure it’s looking to support, whether it be finance or warehouse supply chains.

Both Cameron and Tyler Winklevoss were potentially among the world’s first bitcoin billionaires in early 2018 following the currency’s explosion to nearly $20,000 in December of 2017. As some of the first investors in the currency, the sudden surge brought their net worth up and placed them on par with people like Leonsis, thereby allowing them to enjoy similar wealth but through digital means. In addition, the Winklevoss Twins have consistently showed a willingness to remain compliant with present rules and regulations. Their company the Gemini Exchange was among the first to obtain a BitLicense so that it could operate legally in New York.

Blockchain Can Help the Gambling World

Thus, blockchain and bitcoin don’t necessarily have to serve as the underlying supporters of dark web activity. It’s simply a matter of utilizing them properly. Perhaps if Leonsis were more open to the notion of blockchain appropriately serving the gambling industry, he might realize just how legitimate blockchain-based betting could be. Imagine ensuring all bets are valid by having them recorded permanently on a digital ledger. Now that’s legitimacy for you.

Article Produced By
Nick Marinoff

https://www.livebitcoinnews.com/56396-2/

Heiko Closhen, Entrepreneur