Cryptocurrency Bubble Burst Unlikely, Says Ex-CFTC Chair, Now Crypto Industry Adviser
A burst of the cryptocurrency bubble is unlikely because the industry is too immature and the big money isn’t there as institutional investors sit on the sidelines because of the regulatory uncertainty, ex-Commodity Futures Trading Commission Chair and current cryptocurrency developers, miners and exchanges adviser Jim Newsome said today.
Newsome and former SEC Commissioner Paul Atkins were to have presented a report on best practices for cryptocurrency token issuers and purchasers today at the Chamber of Digital Commerce’s annual meeting, but Newsome said the completion has been delayed for two weeks because the project is more complex than originally contemplated.
Newsome said Securities and Exchange Commission Chair Jay Clayton is probably taking a hard line on cryptocurrency because he is getting word from the White House and the Treasury Department.
Newsome warned there is global competition among regulators to oversee cryptocurrency and the U.S. agencies have to be careful they don’t run behind the rest of the world in innovation.
Full story at http://bit.ly/2Ft5nkY
Source: Forbes
Bitcoin Price Hit 2018 Lows Because Of $400 mln Mt.Gox Sell-Off: Reports
Bitcoin prices fell as low as $6000 in 2018 due to a Mt.Gox trustee “panicking” and selling $400 mln worth of bitcoins (BTC), reports suggest this week.
As multiple news outlets reported from March 7, Nobuaki Kobayashi has sold over 35,000 BTC and 34,000 BCH (Bitcoin Cash) in order to pay the defunct exchange’s creditors.
The sales occurred via an exchange, with each individual sale appearing to move Bitcoin markets lower. Former Mt.Gox CEO Mark Karpeles confirmed the transfers took place from December through February.
When BTC/USD hit $5900 Feb. 6, Kobayashi had transferred 18,000 BTC ($180 mln) the day prior, entrepreneur Alistair Milne reported on Twitter March 7 quoting the r/mtgoxinsolvency subreddit.
Full story at http://bit.ly/2Ft5gWA
Source: CoinTelegraph
Why Is Bitcoin And Crypto Down?
Hang in there, when the US Securities and Exchange Commission whisper "not all exchanges are under regulator bodies" in US and Japan, now what, is the whole Bitcoin world is supposed to stop and crumble?
Does anyone actually do research? Most exchanges were created when seeing a void (a big gap, no one had filled). Experimental; no they met a demand. Governments are only waking up to this fact now, where have they been?
It is perturbing to think that people buy into this sudden outcry by the media, where were the Government run Exchanges five years ago for crypto? Was blockchain technology not transparent enough to be seen?
Full story at http://bit.ly/2FvHERd
Source: Steemit
Bears in Control, But Bitcoin Eyes $8K Defense
Bitcoin's 28 percent drop this week has turned the tide in favor of the bears, but a sustained break below $8,000 looks unlikely in the short-run, the price charts indicate.
Having registered losses for four straight days, CoinDesk's Bitcoin Price index (BPI) fell to a one-month low of $8,371 in Asian hours. The decline was in line with the bearish continuation pattern seen on the bitcoin (BTC) charts during the U.S. session. The sell-off has pushed the market capitalization of BTC below $150 billion for the first time since Feb. 14.
As of writing, the BPI is seen at $8,590. Despite the slight recovery from the session's low, the cryptocurrency is down 14.5 percent on a 24-hour basis, according to data source CoinMarketCap.
Furthermore, most other crypto-market leaders are reporting double-digit losses. For instance, ether has depreciated by 10.11 percent in the last 24 hours, while bitcoin cash, NEO, stellar, and cardano are down 10 percent each.
Full story at http://bit.ly/2Ft5jle
Source: CoinDesk
Daily price of Bitcoin, SBD, STEEM and SuperiorCoin for 9th March 2018
Price Today
BTC USD (CoinMarketCap) = $8,805.56
SUP BTC (BTC Alpha) = 0.00000043
SUP USD (BTC Alpha) = $0.0038
SUP BTC (SouthXchange) = 0.00000039
SUP USD (SouthXchange) = $0.0034
SUP BTC (Stocks.exchange) = 0.00000050
SUP USD (Stocks.exchange) = $0.0044
SBD USD (CoinMarketCap) = $2.39
STEEM USD (CoinMarketCap) = $2.31
Full story at http://bit.ly/2Ft5c9i
Source: Steemit
Bitcoin Is Not Out Of The Woods Yet
Bitcoin prices have had a rough week, but things may get better before they get worse.
The world's largest digital currency has fallen close to 20% over the last seven days, pushing lower as they struggle with several bearish factors.
At the time of report, Bitcoin was trading at roughly $8,800, after falling to as little as $8,370.80 earlier today, CoinDesk Bitcoin Price Index (BPI) figures show.
Even after this modest recovery, Bitcoin was still down roughly 19% from the same time one week ago.
Full story at http://bit.ly/2Ft5lcQ
Source: Forbes
This credit card will offer rewards in bitcoin — and has 2,000 people on the waiting list
Instead of cash back, try crypto back.
Thomas Harrison, a 25-year-old entrepreneur based in San Francisco, announced plans for a new credit card, Blockrize, that would offer cryptocurrency instead of cash back or travel rewards. He says there’s currently a 2,000-person waiting list, despite Blockrize still lacking a banking partner to issue the card. (Before starting Blockrize, he was head of operations at the polling app Whatsgoodly, which closed during summer 2017.)
The card would offer 1% of the value of users’ purchases back in cryptocurrency, initially just BTCUSD, -4.98% and ethereum, every time they buy something. Harrison hopes the card will find a partner and be available to consumer by the end of 2018. He started investing his own savings in cryptocurrency in September. “It was kind of an exhilarating experience,” he said. But he tired of the exchange fees, hence the idea for crypto rewards on a credit card.
Whether or not he succeed, crypto rewards are an interesting idea, said Nick Clements, the co-founder of personal finance company MagnifyMoney, who previously worked in the credit card industry. Traditional credit cards already give their rewards in the form of alternative currencies, he said, whether they are frequent-flyer miles or rewards points. Many people interested in crypto are afraid to invest because it’s so volatile “or they don’t know how to do it,” Clements said.
Full story at http://on.mktw.net/2Ft5n4s
Source: MarketWatch
The Slime Goblin: A Coinophia Tale by Jacqui Cooper
You've probably heard of cryptocurrencies like bitcoin and Ethereum but have you visited Coinophia? A parallel world that closely resembles our own but where magic exists. Especially the magic of cryptocurrency, discover what happens when an evil slime goblin decides to steal silver from people in return for magic coins. How he's thwarted and why, you should always be careful when buying magic coins (or beans for that matter) especially if the offer seems to good to be true.
Full story at http://bit.ly/2Ft5eOs
Source: SydesJokes Blog