• Same story, different day...........year ie more of the same fiat floods the world
  • There are no markets
  • "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

Cryptolium: A Weekly Digest Of Crypto-News

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#81
NEXT BIG CRYPTOCURRENCY!! - Next Crypto to 10X?! - MoneyToken CryptoCurrency
Crypto Coin News


Published on May 30, 2018
This is the next big cryptocurrency in our opinion! This could see more than 10x this year! Money Token Crypto Review!
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#82
The Current State and Importance of Crypto To Freeing Humanity - Jeff Berwick on Cryptogasmic
The Dollar Vigilante



Published on May 31, 2018
Jeff Berwick is interviewed by Scott Sorenson for Cryptogasmic podcast. Topics include: central banking is a scam, central banks and war, crypto here to stay, the coming disruption, mainstream media, the implications of decentralization, private courts and titles on the blockchain, the corrupt medical profession, accelerating change, Ethereum vs EOS, nothing should be regulated, unregulate-able crypto, self ownership, bitcoin, bitcoin cash, Dash, crypto prices and investment, panic selling vs hodling, smart investment and tax avoidance, get out of the UA, Anarchapulco 2019

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#83
Next Altcoin Run? - Top Altcoins to Watch - CryptoCurrency Market News
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When is the next altcoin run? Top altcoins to watch in the cryptocurrency market today!
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#84
How to Use IDEX! - IDEX Tutorial - IDEX CryptoCurrency Exchange How To
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Published on Jun 1, 2018
This video will teach you how to use IDEX. This tutorial will go over creating an account and making a buy order. IDEX CryptoCurrency!
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#86

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#87
Crypto 'Whales' Dominate Ownership Of World's Largest-Ever ICO


by Tyler Durden
Tue, 06/05/2018 - 15:59


Ownership concentration has become a commonplace problem in the cryptocurrency market - but even this is extreme.

We've reported on bitcoin's whale problem, where roughly 40% of all the bitcoin in circulation - an amount worth some $51 billion - are held by a group of less than 1,000 people, many of whom were among the earliest adopters.



In fact, it's widely believed that bitcoin founder Satoshi Nakamoto alone controls a combined 1.1 million bitcoins (though it's impossible to discern an exact number).

Ethereum is even more concentrated, with 40% of the total float owned by 100 people. But even Ethereum pales in comparison to Block.one, the largest ICO in history, which raised more than $4 billion last week.

According to Bloomberg, the 10 largest Block.one owners hold nearly 50% of coins in circulation.



The largest holder is the company itself, with 10% of the total. This situation mirrors that of Ripple, which was criticized earlier this year when CEO Chris Larsen briefly saw his net worth eclipse that of Mark Zuckerberg when ripple rallied 1240% in the span of a month, briefly making it the second-largest cryptocurrency. Larsen alone held a 17% stake in the company, raising hackles about the ease with which he and other ripple founders or early adopters could influence the price in their favor.

And it's likely traders will soon begin sharing similar warnings about Block.one, as the token's price rallied 13-fold.

Though they have smaller market caps, the coins Qtum and Storj are even more concentrated than Block.one, with the top holders controlling 90% of the coins in circulation, according to an analysis by Tetras Capital.

https://www.zerohedge.com/news/2018-06-05/top-10-holders-own-half-coins-largest-ever-ico
 

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#88

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#89
BIG News on Fidelity, a Bitcoin ETF Coming (again?!) and Circle Appealing to Regulators
Crypto Bobby



Published on Jun 6, 2018
Fidelity, a financial institution that oversees over $2 Trillion in assets is rumored to be working on proper custodian services for cryptoassets. This is huge news in my opinion, as a legitimate custodian service for crypto will enable larger investors to gain exposure to the market. Sticking with the big players theme, Van Eck and SolidX are applying for a Bitcoin ETF with a single share worth about $200,000, hoping to comply with SEC feedback.

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** This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. This is not explicit advice to buy these cryptos, do you own research.**
 

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#90
REALIST NEWS - More Grest Crypto News & A nice looking THETA chart
jsnip4


Published on Jun 7, 2018
 

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#92
$400 Billion Market Cap? - CryptoCurrency Market News - Crypto Market
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#93
Cryptolium: Want to be rich? Take advice from cryptomillionaire
RT



Published on Jun 9, 2018
Blockchain technology is being actively discussed in Russia.
World experts and innovators met in Russia's version of Silicon Valley - Skolkovo - to raise important issues surrounding the future of blockchain.
 

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#94
Bitcoin Tumbles After Major Crypto Exchanges Subpoenaed For Manipulation, Coinrail Hacked

by Tyler Durden
Sun, 06/10/2018 - 08:04


Bitcoin and other cryptocurrencies flash-crashed Saturday night, one day after the US Commodity Future Trading Commission (CFTC) sent subpoenas four cryptocurrency exchanges in an ongoing probe into bitcoin manipulation that began in late July - following the launch of bitcoin futures on the CME, according to the Wall Street Journal.

CME’s bitcoin futures derive their final value from prices at four bitcoin exchanges: Bitstamp, Coinbase, itBit and Kraken. Manipulative trading in those markets could skew the price of bitcoin futures that the government directly regulates.​

In delay reaction, Bitcoin fell as much as $433 or 5.6% in Saturday night trading, with some noting that the flash crash happened shortly after a 90th ranked crypto exchange, Coinrail, had suffered a "cyber intrusion", and was likely the more relevant catalyst for the crypto price drop.




While major Cryptocurrencies were down from 4.5 - 5.5%, Bitcoin Cash dropped over 8.4%.

The CTFC subpoenas were issued after several of the exchanges refused to voluntarily share trading data with the CME after being asked last December. Of note, the CFTC regulates the CTC.

According to the WSJ, the CME, which launched bitcoin futures in December, asked the four exchanges to share reams of trading data after its first contract settled in January, people familiar with the matter said. But several of the exchanges declined to comply, arguing the request was intrusive. The exchanges ultimately provided some data, but only after CME limited its request to a few hours of activity, instead of a full day, and restricted to a few market participants, the people added.

What is curious, is that if there was indeed manipulation since the launch of bitcoin futures, it was to the downside, as the price of cryptos peaked around the time the crypto futures were launched, and are down well over 50% in the 6 months since.

Coinbase in particular has been under the watch government regulators. On February 23, Coinbase sent an official notice to around 13,000 customers to notify them they were legally required to turn over their information to the IRS.

i
mage courtesy of CoinTelegraph


The IRS had initially asked Coinbase in July 2017 to hand over even more detailed information on every one of its then over 500,000 users in an attempt catch those cheating on their taxes. However, another court order in Nov. 2017 reduced this number to around 14,000 “high-transacting” users, which the platform now reports as 13,000, in what Coinbase calls a “partial, but still significant, victory for Coinbase and its customers.”

Coinbase told the around 13,000 affected customers that the company would be providing their taxpayer ID, name, birth date, address, and historical transaction records from 2013-2015 to the IRS within 21 days. Coinbase’s letter to these customers encourages them “to seek legal advice from an attorney promptly” if they have any questions. Their website also states that concerns may also be addressed on Coinbase’s Taxes FAQ. The ongoing legal battle between Coinbase and the US government dates back to November, 2016, when the IRS filed a “John Doe summons” in the United States District Court for the Northern District of California.

On Feb. 13, personal finance service Credit Karma released data showing that only 0.04 percent of their customers had reported cryptocurrencies on their federal tax returns.

And in April, former New York Attorney General, Eric "we could rarely have sex without him beating me" Schneiderman, launched a probe of 13 major cryptocurrency exchanges according to the Wall Street Journal - claiming that investors dealing in the fast-growing markets often don’t have the basic facts needed to protect themselves.

Former AG Schneiderman’s office said the program, called Virtual Markets Integrity Initiative, is part of its responsibility to protect consumers and ensure the integrity of financial markets, and its goal is to ensure that investors can have a better understanding of the risks and protections afforded them on these sites.

CFTC Commissioner: Crypto is a "modern miracle"
While the CFTC, IRS and New York Attorney General's office are all cracking down on cryptocurrency exchanges, it seems to all be part of the government's embrace of virtual currencies. Last week CFTC Commissioner Rostin Benham called cryptocurrencies a "modern miracle" at the Blockchain For Impact Summit held at the UN in New York last week.

But virtual currencies may – will – become part of the economic practices of any country, anywhere. Let me repeat that: these currencies are not going away and they will proliferate to every economy and every part of the planet. Some places, small economies, may become dependent on virtual assets for survival. And, these currencies will be outside traditional monetary intermediaries, like government, banks, investors, ministries, or international organizations.​
We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle. -Rostin Benham​

Rostin hinted at the upcoming legal action against the exchanges during his speech:

Under the CEA and Commission regulations and related guidance, exchanges have the responsibility to ensure that their Bitcoin futures products and their cash-settlement process are not readily susceptible to manipulation and the entity has sufficient capital to protect itself. The CFTC has the authority to ensure compliance. In addition, the CFTC has legal authority over virtual currency derivatives in support of anti-fraud and manipulation including enforcement authority in the underlying markets.​



Meanwhile, the official Bitcoin website removed references to Coinbase, Blockchain.com and Bitpay, according to Crypto News - only one of which, Coinbase, was subpoenaed.

The CFTC officially recognized bitcoin as a commodity in September of 2015 when it went after Coinflip for operating a platform for trading bitcoin options without the proper authorization. Since the agency effectively asserted its dominance over the bitcoin market with that decision, this is the first time it has given its blessing to an bitcoin options trading platform. Expect a burst of institutional trading activity to follow - especially since they approved institutional options trading in July.

https://www.zerohedge.com/news/2018...to-exchanges-subpoenaed-manipulation-coinrail
 

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#95
Market Drops Off a Cliff - Crypto Sad Hour
Crypto Bobby



Streamed live 2 hours ago
Support the stream: https://streamlabs.com/cryptobobby The crypto markets are collectively down nearly $40 Billion in the past 24 hours, with Bitcoin leading a mass market sell off. Let's hang out for another episode of Crypto Happy Hour, or in this case, Crypto Sad Hour, to talk about what's going on and answer your Q&A.

** This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. This is not explicit advice to buy these cryptos, do you own research.**
 

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#96
Bitnation, Liberland, And Other Micronations Are Gaining Independence Via Crypto, But Crypto Alone May Not Be Enough

by Tyler Durden
Sun, 06/10/2018 - 22:25


Authored by Simon Chandler via CoinTelegraph.com,

Ever since the "decentralised borderless voluntary nation” Bitnation was founded in July 2014, a slowly growing raft of startups and organisations have been attempting to seize cryptocurrencies as an opportunity to build entirely new nations from the ground up.


image courtesy of CoinTelegraph


Whether it be the landlocked Liberland or the seaborne Floating Island Project, they've taken cryptocurrencies and blockchains as the basis for a new way of organising how people live, interact and work. And even if they've approached the same fundamental task from varying angles, they all regard the decentralisation of crypto as a potential liberator from the top-down control of central governments, and from their inefficiencies and corruptions.

However, despite the evangelical fervour with which many of these projects have pursued their missions, almost all of them have encountered similar obstacles. Not only have the limitations of blockchain technology held them back, but they've also suffered from the unsurprising resistance of national governments, which are perhaps less-than keen on being usurped by crypto-states.



Funding, products and services
The Floating Island Project is the most recent would-be crypto-state to have garnered press attention. Initially announced in 2013 by the Seasteading Institute (itself launched in 2008 and boasting Peter Thiel as an early investor), it aims to found an indefinite number of floating cities in and around French Polynesia, with the target-year for the establishment of its first city being 2022.

In May, further details on the project were revealed, with the Seasteading Institute (SI) revealing that its inaugural island would accommodate 300 houses and be making use of its very own cryptocurrency, named Varyon (VAR).

Nicolas Germineau, the co-founder and MD at Blue Frontiers (a Seasteading Institute offshoot which oversees the token) told Cointelegraph:

"Varyon is a payment token which will initially generate revenues to fund the last steps of the pilot project and kickstart the ecosystem of Seasteads in French Polynesia. It will also be used widely afterwards as we build seasteads in more locations and establish relevant partnerships."​

While Blue Frontiers’ planned attempts "to establish Varyon as a useful currency in and around the Seasteads” might imply that VAR will form the essential bedrock of the Project's financial system and economy, Germineau affirms that VAR won't in fact be the only accepted currency on the island and its eventual siblings.

"It should be noted that we will not be forcing third parties to transact in Varyon among themselves, even within our SeaZone," he says. "It is important to us to establish Varyon on its own merits and the onus is on Blue Frontiers to make it widely accepted, easy to use, and generally compelling enough to become a premier medium of exchange."



Cryptocurrencies, interference, and taxation
In other words, cryptocurrency isn't actually of indispensable importance to the day-to-day workings of the Floating Island Project, which could still theoretically operate without VAR. Instead, it’s using the digital currency in order to kickstart and boost its funding in a way that wouldn't be possible via traditional investment, something which is common to certain other 'crypto-state' projects.

For example, Liberland is a crypto-state lying on a 7km2 patch of land situated between Serbia and Croatia. It's because of a territorial dispute between the two Balkan countries (stemming from the Yugoslav Wars of the 1990s) that the micronation's founder, Vit Jedlicka, was able to lay claim to its small slither of territory in April 2015. But ever since, Croatian authorities have hounded the former Czech politician and the citizens of his new nation, with ‘President Jedlicka’ himself being arrested and fined in May 2015 for attempting to enter the newborn country.

Given the Croatian establishment’s persecution of Liberland (which is recognised by no other nation), it's unlikely that receiving taxation (which is voluntary) and other funds in a fiat currency such as the Croatian kuna would be a good idea, with the harder-to-seize nature of cryptocurrencies being considerably more preferable.

Something broadly similar applies to Sol, also known as Puertopia. This is a (somewhat informal) 'crypto-utopia' settlement founded at some point in late 2017 in San Juan, Puerto Rico by child actor-cum-crypto entrepreneur Brock Pierce and a number of his fellow crypto-tycoons. According to a highly cited profile of Sol published in The New York Times, much of the attraction of "Sol" (or rather Puerto Rico) is its extremely lenient tax regime, with the US territory imposing no capital gains tax and no federal income tax.

As such, hugely wealthy investors such as Pierce can reside in Sol without having to hand much (or any) money to a central government, something which indicates that their plans to establish a self-enclosed economy revolving around Bitcoin is perhaps an extension of this principle.

As Reeve Collins, a resident of Sol and the founder of 'blockchain app store' BLOCKv, said in February's profile:

"No, I don’t want to pay taxes […] This is the first time in human history anyone other than kings or governments or gods can create their own money.”​


Libertarianism
Of course, the desire to avoid paying tax or to evade the jurisdiction of an existing, larger nation can point to a deeper principle than simply wanting to hold onto money and/or achieve fiscal independence. For most of the projects mentioned above, libertarian political values play a guiding role, and while the merits of such values are open to debate, they regard a minimal state, fiscal sovereignty and free trade as the greatest goods a nation can attain.

Starting with the Floating Island Project, aside from receiving early funds from libertarian Peter Thiel and being founded by fellow traveller Patri Friedman (grandson of economist Milton Friedman), the Seasteading Institute's managing director Randolph Hencken has gone on record as saying:

"The underlying philosophy is rooted in a belief that we can do better with technology and innovation rather than ideology, politics and argumentation."​

Comparable views have been expressed by Liberland's Vit Jedlicka, who said in February:

"For many years, I worked for lowering taxes and regulations in the Czech Republic, but I suddenly realised that it would be easier to start a new country than to fix an existing one.”​

And much the same goes for the Free Society Foundation, announced in September 2017 by libertarians/crypto investors Roger Ver and Olivier Janssens. Its openly avowed aim is to "establish a rule of law based on libertarian principles and free markets," and while it hasn't outlined how it might harness the power of cryptocurrencies in order to realise this aim, Ver had hinted that an ICO was in the offing. He said in an interview given at the time:

"Thanks to cryptocurrencies, now there is a way to fundraise for people all over the world who are interested in this."​

Government resistance
However, mention of the Free Society Foundation's potential ICO leads to the obstacles such projects have faced, since Ver admitted in the same interview:

"We were planning to have an ICO, but the regulators have kind of gotten in the way of that at the moment."​

Regulators – or rather governments – may have also gotten in the way of the Foundation's primary aim, which was to pay a sovereign government for the piece of land on which it would establish the "world's first libertarian country." Despite stating in September that "[government] interest was much higher than initially anticipated," there has so far been no update on whether it's actually made any progress in purchasing land, with our requests for comment from the Foundation being ignored.

Aside from the persecuted Liberland, government hostility or indifference (call it what you will) may end up impeding the progress of the Floating Island Project. Despite signing a Memorandum of Understanding (MoU) with French Polynesia in January 2017, the French dependency distanced itself from the project this February, when it noted in a Facebook post that the validity of the MoU expired at the end of last year. As a result, it will no longer be collaborating with the Seasteading Institute on the development of a "special governing framework" for any floating islands, and may end up resisting plans to launch such islands altogether.

Another issue crypto-states will encounter is a familiar one for any blockchain project: scalability. However, they’re optimistic that this challenge can be met, even if some of them – e.g. the Floating Island Project – operate on such blockchains as Ethereum’s, which was infamously backlogged by a video game last year, for instance. Nicolas Germineau tells Cointelegraph:

Scalability is a challenge faced by the entire Ethereum community. Many initiatives, from proof of stake to off-chain settlement mechanisms, are going to make this less challenging moving forward. We have a lot of faith in the Ethereum development community and their ability to innovate, and we are confident they will solve these challenges.”​


Peaceful transition?
Scalability aside, one crypto-nation that may not suffer so much resistance from vested governmental interests is one that doesn’t lay claim to any particular territory: Bitnation. Launched in July 2014 as the "world's first Decentralised Borderless Voluntary Nation" (DBVN), it provides a range of blockchain-based governance services (e.g. public notaries, IDs, marriages), and ultimately aims to create a competitive global marketplace for such services that would make central governments redundant.

While its COO James Fennell Tempelhof warned Cointelegraph last year that the "nation state will not give up [its power] easily" to blockchain-based alternatives, it's interesting to note that Bitnation won the Grand Prix at UNESCO's Netexplo Forum in May 2017 for its Refugee Emergency Response project, which began registering refugee IDs on the Bitcoin blockchain in September 2015.

If nothing else, this glowing award from a UN agency reveals that the world's governments do see at least some place for blockchain-based platforms to assume certain functions of theirs. And if they permit enough wriggle room to such crypto-state projects as Bitnation, these projects may end up claiming even more, with (Bitnation CEO and spouse of James) Susanne Tarkowski Tempelhof affirming in 2016, "we need to outcompete national governments at their original core function: security and jurisdiction."

For sure, such a transition is no doubt a long way away if it's even possible, but with rumours that a certain crypto-exchange is planning its own micronation, the future of experimental blockchain-based states could end up being very interesting. These will have to compete with the enduring power of nationalism and patriotism, and they'll also have to face up to questions concerning the real-world scalability of blockchains, but the variety of forms they've taken in recent years would indicate that they may throw up plenty of ideas and innovation along the way.

https://www.zerohedge.com/news/2018...ations-are-gaining-independence-crypto-crypto
 

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#97
Bitcoin plunges 12% to a 2-month low and cryptocurrencies lose $42 BILLION after hackers target the South Korean exchange Coinrail

  • Bitcoin value has now plummeted by 65% since its peak in mid-December 2017
  • Coinrail has confirmed digital coins were stolen by hackers in the cyber attack
  • Some estimates suggest coins worth $37.28 million (£27.79 million) were stolen
  • Crytpo coins lost more than $42 billion (£31 million) in value worldwide after news of the hack, sparking fresh calls for regulation around virtual currencies
http://www.dailymail.co.uk/sciencet...s-hackers-hit-S-Korean-exchange-Coinrail.html
 

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#99
The Next Facebook? - CryptoCurrency Social Platform - HowDoo Crypto ICO Review
Crypto Coin News



Published on Jun 11, 2018
Is this the next facebook? CryptoCurrency social platform HowDoo! Crypto ICO review!
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What Does The Trump/Kim Summit Mean For Bitcoin?
Crypto Viewing


Published on Jun 12, 2018
The Trump/Kim meeting is all about commerce. It's good for business. And that will be good for Bitcoin and cryptocurrency when blockchain payments become the method of international payments.
 

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REALIST NEWS - Has the Crypto carnage stopped or more down side to come?
jsnip4


Published on Jun 14, 2018
 

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Rogue Coin: BTC $4400?!!! It HODLs So Good
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Cryptocurrency Millionaire Kidnapped By Biker Gang, Robbed At Gunpoint For $1.8M


by Tyler Durden
Sat, 06/16/2018 - 18:45


Three members of a Bronx biker gang were arraigned in a Manhattan courtroom on Tuesday, charged with kidnapping and robbing a cryptocurrency multi-millionaire at gunpoint, authorities said.




Ringleader Cesar (Fuego) Guzman, 38, Allan (Joker) Nunez, 36, and Darrell (Bishop) Colon, 37, joined their accomplice - Louis Meza, 35, in luring their victim into a fake Uber ride on November 4, 2017 where they held him captive for two hours with a hood over his head - demanding his keys and a memory stick linked to his Ether currency account, according to court papers.

The gang was able to bilk the man out of $1.8 million of Ether, a popular cryptocurrency.



The men each played a role in the heist, according to the NY Daily News:

Colon was hiding in the rear row of seats and popped out with what appeared to be a gun to threaten the victim for his Ether — a type of virtual money, prosecutors said.​
Nunez drove the victim around for two hours at gunpoint until he coughed up the location of his 24-word passphrase.
Meza, who was caught on surveillance camera, and Guzman, whose head is inked with tribal tats, broke into victim’s apartment where they nabbed his digital wallet and stole $1.8 million, prosecutor James Vinocur said at the men’s arraignment in Manhattan Supreme Court. -NY Daily News

“The investigation revealed that Mr. Guzman recruited both of these individuals based on their shared involvement in a Bronx motorcycle crew or group,” Vinocur said. The victim's friend, Meza, was charged in December.

“I stuck the gun in the guy’s ribs and took his stuff,” confessed Colon, who said the weapon was a BB gun.



The victim was eventually able to escape, running terrified "for two blocks until he was able to reach a grocery store and call 911," according to the prosecutor.

Hilariously, the perpetrators' attorney, Rob Georges, invoked a "Harvey Weinstein" defense in a bid for bail for Nunez - saying that the disgraced producer was able to turn himself in as part of a prearranged bail package with the DA's office - a courtesy which wasn't afforded to the suspects.

“And he [Nunez] is not suspected of being nearly as violent,” added Georges. Judge Melissa Jackson ignored the Weinstein comparison before ordering Nunez held on $50,000 bail, Colon on $75,000 and Guzman on $100,000.

The three have pleaded not guilty to grand larceny, kidnapping and several other charges. They face up to 25 years in prison.

https://www.zerohedge.com/news/2018...aire-kidnapped-biker-gang-robbed-gunpoint-18m
 

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New Crypto Platform - Next CryptoCurrency Platform - OZEX ICO Review
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A new crypto platform is born! This cryptocurrency platform claims big things! OZEX ICO review!
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Are the Bears Gone? - CryptoCurrency Market News - Crypto Market News
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Rapper Akon Creates 'Akoin' Cryptocurrency


by Tyler Durden
Thu, 06/21/2018 - 00:05



Authored by Molly Jane Zuckerman via CoinTelegraph.com,

Rapper and singer Akon of twelve Billboard Top Ten Hits, including the famous “Smack That,” has announced the creation of his own cryptocurrency for use in his new African “Akon Crypto City,” Page Six reported yesterday, June 19.


image courtesy of CoinTelegraph

During a panel at Cannes Lion, Senegal-descended Akon said that his cryptocurrency, the Akoin, will be available in two weeks for use in the 2,000 acres of land recently given to him by the president of Senegal.



The new Akon Crypto City describes itself as a “100% crypto-based city with Akoin at the center of transactional life [...] blend[ing] leading Smart City planning designs with a blank canvas for cryptonizing our daily human and business exchanges, towards inventing a radical new way of existence.”

Akon, who has already been involved with bringing solar power to Africa through his Lighting Africa project, said that bringing cryptocurrency to Africa can help empower its public:

I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system and also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down.”​

When asked about the specifics of the technology, Akon demurred, noting, “I come with the concepts and let the geeks figure it out.”

The singer also mentioned the possibility of his running for U.S. president in 2020, imagining a future debate between himself, current president Donald Trump, and rapper Kanye West:

“And the debate stage will be set where it’s all about me. It’s perfect, a masterplan. I’m going to come in with a team so crazy, man, it’s all going down. I’m not holding my tongue. The way I look at it, win or lose, at least I get the movement going, I get the conversation going.”​

Both Akon’s cryptocurrency and presidential ambitions mirror those of John McAfee, formerly of McAfee Anti-Virus software and now well-known crypto enthusiast. McAfee announced recently that he would be releasing his own fiat currency backed by crypto, as well as plans to run for president in order to gain a wider platform for promoting cryptocurrency.

https://www.zerohedge.com/news/2018-06-20/rapper-akon-creates-akoin-cryptocurrency
 

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Do You Have A Cryptocurrency Addiction? This British Hospital Has A Treatment Just For You


by Tyler Durden
Thu, 06/21/2018 - 05:00


Authored by Simon Black via SovereignMan.com,

By the time Louis XIV passed away in 1715, seven decades of his absurd extravagance had nearly bankrupted France.

His reign was marked by constant warfare and the most excessive spending imaginable, from opulent palaces (including Versailles) to a costly welfare state– public hospitals, parks, monuments, museums.

Louis XIV had turned France into the world’s leading power. But it came at a heavy cost.

The national debt was nearly as large as the entire French economy itself, and the government’s annual budget deficit was appalling.

France was bleeding cash. And so in 1719, the government tried a new idea to shore up its finances.

First, they issued a formal decree granting a full monopoly over nearly all of France’s international commerce and trade to a company called Compagnie du Mississippi, i.e. the Mississippi Company.

The government gave full control of the deal to a Scottish banker named John Law; Law was to sell shares of the Mississippi company to the public, and funnel the proceeds to the government.

The initial share sale was a phenomenal success. Law promised investors that the Mississippi Company would pay an annual dividend equivalent to about 120% of the share price.

It was an extraordinary prospective return. And investors literally lined up outside of Law’s house to apply for shares.

Almost immediately a bustling secondary market for the shares emerged, and countless people of every age, gender, and social status spent their days buying and selling stock in the Mississippi Company.

The investor hysteria was so extreme that the share price of the Mississippi Company would sometimes rise 20% in the course of a few hours.

A quaint plaza near John Law’s home became the unofficial stock exchange for Mississippi Company shares, and there are legendary stories of the investor frenzy there.

In his 1841 book Extraordinary Popular Delusions and the Madness of Crowds, Charles Mackay wrote about a local cobbler who was able to rent out his stall in the plaza for an extraordinary sum of money, and about a hunchback who earned a great living charging speculators to use his hump as a writing surface to sign contracts.

EVERYONE was making money. It was commonplace that illiterate farm laborers would turn their meager savings into substantial fortunes, practically overnight.

Of course, hardly anyone knew what they were buying– whether there was an actual business plan, whether management was competent, or whether the deal could generate any profit.

Those seemed to be irrelevant details. The only two things that mattered were the fact that the share price was going up, and that the New World had enormous potential.

So the speculation persisted.

At the end of 1720, the bubble finally burst, not even two years from the time that it started.

A few people made money– those who got in early and weren’t stupidly greedy. But most people lost everything. And John Law fled to Belgium.
Now, it’s difficult to read about the Mississippi Company Bubble and not think about the modern roller coaster ride of cryptocurrency.

Please don’t misunderstand– I’m not anti-crypto.

I was an early adopter of Bitcoin and have made a number of investments in promising crypto startups.

But even the most die-hard crypto fanatic should acknowledge the irrational frenzy in late 2017 that saw cryptocurrency prices soar to new heights on an almost daily basis.

And just like the Mississippi Bubble, it was fed by countless speculators feverishly throwing their money at an asset based on the facts that crypto has enormous potential, and it was going up in price.



Apparently, crypto fever got so bad that a hospital in the UK set up a program for Cryptocurrency Addicts.



The Castle Craig Hospital website has a self-assessment tool with a number of questions, for example–
  • Am I spending large amounts on cryptocurrency?
  • Do I spend a lot of time thinking about different types of cryptocurrency?
  • Have I ever fibbed to other people about how much time or money I spend trading in cryptocurrency?
  • Do I become restless or irritable if I try to cut down my screen time related to cryptocurrency?
  • Do I carry on trading in cryptocurrency after losing money – to try to gain it back?

And more.



The fact that this treatment program even exists is a testament to the sheer volume of fanatics who are consumed with the prospect of getting rich quick on the next cryptoflavor du jour.

When there’s that many people who believe they can become extraordinarily wealthy in a short amount of time by merely acquiring an asset that’s a tiny representation of a future trend, you can rest assured that most of the easy money has already been made.

And that’s really the point: we’re no longer in the earliest, most nascent stages of the crypto game.

You hear about Bitcoin now on the nightly news. It’s mainstream.

So the idea that there’s still a high likelihood of making a 10,000x return on some random coin or token at this stage in the game is just plain naive, especially when the investment thesis is simply “crypto is the future.”

Yes, the broader concepts of crypto and distributed ledger technology are the future, just as the New World represented tremendous opportunity back in 18th century France.

But just like the Mississippi Bubble, that larger trend doesn’t automatically mean that F*ckToken and T!tCoin are worthwhile investments.

Now, I’m not saying that you can’t make money in crypto anymore. Far from it.

As we talked about last week, there are still unimaginable fortunes to be made from this trend.

But at this point, those new fortunes are awaiting investors and entrepreneurs who are at the forefront of developing the technology and applying it to the countless, game-changing possibilities in public and private industry.

And to continue learning how to ensure you thrive no matter what happens next in the world, I encourage you to download our free Perfect Plan B Guide.

https://www.zerohedge.com/news/2018...ction-british-hospital-has-treatment-just-you
 

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US Members Of Congress Must Now Disclose Crypto Holdings Above $1,000


by Tyler Durden
Thu, 06/21/2018 - 15:51


Authored by Marie Huillet via CoinTelegraph.com,

The Ethics Committee of the U.S. House of Representatives has issued a memorandum requiring all House Members to disclose their cryptocurrency holdings worth over $1,000, Bloomberg reported yesterday, June 20.



image courtesy of CoinTelegraph


The memo, dated June 18, outlines a range of disclosure requirements for lawmakers, covering crypto holdings, participation in Initial Coin Offerings (ICOs), and any income earned from cryptocurrency mining.

Noting that while the U.S. Commodity Futures Trading Commission (CFTC) has determined some cryptocurrencies to be commodities – most notably, Bitcoin (BTC) – the Ethics Committee has nonetheless decided that “with respect to financial disclosure, cryptocurrencies will be treated as ‘other forms of securities.’”

House members are therefore required to disclose their own and their spouse’s holdings of cryptocurrencies valued at over $1,000 under “Assets and Unearned Income,” and purchases, sales or exchanges of crypto valued at over $1,000 under “Transactions” in their annual Financial Disclosure Statement.

Being considered as “other forms of securities” for disclosure purposes, crypto purchases, sales and exchanges that exceed $1,000 are further subject to Periodic Transaction Report filings, which must be submitted within 45 days of the transaction, according to the memorandum.

The memo explains that the Committee has based its decision on the current position adopted towards various cryptocurrencies by the CFTC and other U.S. regulators, including The Securities and Exchange Commission’s (SEC) indication that some cryptocurrencies will be regulated under securities laws, with The Internal Revenue Service (IRS) advising that for federal tax purposes, it has decided to treat cryptocurrencies as property.

The Committee further stresses that because the SEC is still continuing to review its positions towards ICOs, any House Member who is “considering participating in an ICO is strongly encouraged to contact the Committee for guidance before doing so.”

As Bloomberg notes, House rules currently prohibit lawmakers from earning in excess of $28,050 a year from any source not related to their congressional work. The new memo clarifies that any payment in crypto, as well as profit derived from crypto mining, is subject to this limit, whereas crypto trading is not, as it’s considered a form of investment or unearned income.

The memo also indicates that House standards of conduct surrounding insider trading prohibitions will apply to cryptocurrencies “just as [to] any other type of financial holding.”

The same day the Ethics Committee memorandum was released, the U.S. Office of Government Ethics (OGE) issued its own disclosure guidance to federal employees, requiring them to report any crypto holdings exceeding $1,000, as well as any income derived from crypto of over $200 within the financial disclosure reporting period.

https://www.zerohedge.com/news/2018...-must-now-disclose-crypto-holdings-above-1000
 

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Exchange Hacks, Tether and Market Holds Steady - Crypto Happy Hour
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Streamed live on Jun 20, 2018
Support the stream: https://streamlabs.com/cryptobobby In the past 48 hours hours, a major crypto exchange in Korea was hacked and Tether worked to clear up some FUD about it's business practices, both having an impact on the price. Let's hang out for another episode of Crypto Happy Hour to talk about what's going on and answer your Q&A.

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Liberty Dollar Makes A Comeback As A Cryptocurrency
SalivateMetal


Published on Jun 21, 2018
 

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Rogue Crypto: Trade Hard & HODL Fast
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$545 Ether and $7045 Bitcoin Are Key Areas to Watch


-- Published: Wednesday, 27 June 2018

By Ryan Wilday

Those key levels were $7075 and $505, the May 28 lows.

And, while it did bring bitcoin down hard, we’ve seen very little decline in ethereum. I had suggested in previous writings and on my Korelin Report discussions that we’ve seen some fledgling signs of decoupling in some alt coins from bitcoin movements since April. This is further evidence.

Not only did bitcoin break $7075 but plummeted a further 18% to $5770, while ethereum dropped only 14%. While this may seem like splitting hairs, this with the relative outperformance in ethereum since April is significant in my world. Ethereum is a higher beta asset than bitcoin. This means it normally moves farther in both directions. But not this time.

Also, when measured by Fibonacci extensions, it can still be said that ethereum may be holding on to a bullish, albeit tested setup. No chance in bitcoin. It is has already broken April and February lows.

When we look at the ether/bitcoin pair chart the outperformance off the April low is more evident.

View ETHBTC chart here.

So, what can we expect from here?

The key questions on my mind are:
  1. Will bitcoin halt this correction at $4700 or see extensions toward the $3000 region?
  2. Will ethereum finally give up the ghost and follow bitcoin lower?
  3. And, finally, will this downside in both coins prove too tentative, and will another fake rally start?

Regarding the first question. On my latest bitcoin chart I see a drop to $4700 as likely. In my view this decline is almost complete, and as long as we remain under $7045, I see that lower level should be hit.

While I don’t have a very clear indication of $3000 being hit, bitcoin is often an “extended fifth” asset. Given the historical length of 5th waves, particularly in bottoming capitulation, I am open to an extension to $3000. So, $3000 is also a key long-term level for a low wave iv.

View 2-hr BTCUSD chart here.

With respect to ether, if we break the recent lows at $419, there is no bullish case left until downside is complete. What is strange is that I see no way ether is going to see my most bearish targets unless bitcoin goes below $3000. At least it is difficult to see that happening from here.

So, the lowest target I see likely if $419 is a key Fibonacci level at $315. This is expressed with the redline on my chart, with white being normal extensions. That $315 level isn’t far from here in crypto terms. Attached is my bearish view on ethereum, and you can see the extension that I believe likely, until we halted and turned at $419, failing to extend as I expected.

View 1-hr BTCUSD chart here.

And, finally might we turn again in a fake rally? I am on watch for this scenario: warning that we’ll see this come with a break of $545 in ether and $7045 in bitcoin, particularly if the structure is impulsive in nature.

Quite often in corrections, you get a high B wave before the final C wave decline. These large fake rallies are exacerbating. They get bulls to go all in and get many believing that their losses are finally being relieved.

But instead of moving past break out levels, they fall apart and return to our bearish targets. In ether we can see a rally to $1400 that falls back to the $200s. And, in bitcoin it is reasonable to get as high as $15,000 before falling back to $4700 or below.

While for me this scenario would be a very profitable one, for the general public, I call this the evil scenario. Great hope and money would be placed in such a scenario before the market destroys the invested. Yet this is also a scenario that indicates the long trend in bitcoin and ethereum is very strong. High B waves are ultimately a bullish sign in any market.

View 1-day Evil Scenario chart here.
View 6-hr Evil Scenario chart here.

Underlying this possibility is the immense short position on Bitfinex. Currently the short interest on Bitfinex is reaching record levels. When short interest reaches this level, shorters believe they can take profit on the bear side with impunity. But when it feels that easy, it is likely to turn difficult.

Technically speaking this short interest supports a rally to maximize pain of these short players.

View short-interest chart here.

In conclusion, I view this as yet another inflection. Will ether take a different direction than bitcoin?

Will the decline in both continue?

Or, will the tentative nature of this decline, truly bring capitulation?

Above us, $545 ether and $7045 bitcoin are key areas to watch. And, below we need to see $419 and $5915 below to break for further downside.

Ryan Wilday is a cryptocurrency analyst at ElliottWaveTrader, where he hosts the Cryptocurrency Trading premium subscription service.

http://news.goldseek.com/GoldSeek/1530126201.php
 

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The Slow Bleed - Crypto Happy Hour - June 26th
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Support the stream: https://streamlabs.com/cryptobobby After a slight recovery with the printing of $250M worth of Tether, the crypto markets are once again slowly bleeding out, with the cryptoasset market down about 1% overall. Let's hang out for another episode of Crypto Happy Hour to talk about what's going on and answer your Q&A.

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Has Bitcoin (BTC) Found Support At $6K?! - Crypto Trading Price Analysis & Cryptocurrency News
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The Bitcoin Puzzle

-- Published: Friday, 29 June 2018

By Hugo Salinas Price

Originally published at http://plata.com.mx/enUS/More/356?idioma=2

What is a "crypto-currency"? What are Bitcoins and all the rest of the crypto-currency pack?

They are digits on computers, and nothing more. What is "a digit on a computer"? The definition would seem to run along the lines of "an electric charge in a computer memory".

If the ownership of a crypto-currency digit on a computer, or more exactly, on a "blockchain system" of computers, constituted a legal right to a thing that has objective existence, say 1 kilo of copper, or 1 ounce of silver, or 1 ounce of gold, or any other physically existing commodity in a legally constituted depository, then I would have no problem with such a "crypto-currency". However, so far as I know, none of the crypto-currencies carry with them any legal right to the ownership of anything tangible at all.

In this regard, they are like today's "money", which has no relation at all to any underlying physically existing good. The crypto-currencies are regarded as valuable assets because when they were born, someone had the bright idea of saying that they were money. That simple affirmation impacted masses of people anxious to make a buck quickly and easily, and these poor innocents are not able to think things through carefully. If something - whatever it is - appears to have a rapidly increasing monetary value, there will be thousands - or millions - of individuals anxious to get into the scheme. This has happened, time and again, throughout History, and doubtless will happen again, ending in inevitable disappointment and loss for all these gullible "investors".

What distinguishes the Bitcoin from all the world's currencies today, is that the currencies of the world - the dollar, the euro, the British pound, etc. - all are issued by Central Banks that regulate as carefully as they can, the worth of their currencies in terms of each other.

The great mass of the world's currencies are, like the Bitcoin and its fellows, simply digits on computer memories. No Central Bank wants its monetary digits to rise substantially in value against the other Central Bank monetary digits, because that would affect their country's exports; and conversely, no Central Bank wants to see its currency digits depreciate against other Central Bank currency digits, as that would lead to rises in national prices and Capital Flight, since investors would sell those falling currency digits in order to purchase others which would be rising in relation to the falling currency digits. Central Banks are the "shepherds" of the currency digits they issue.

The Bitcoin was able to rise to some $15,000 dollar digits in value, when the appetite for it was voracious, but it will also be able to fall to virtually nothing, when the bloom is off the rose - because the Bitcoin and its imitators have no "shepherds" to take care of them.

As of this writing the Bitcoin is quoted at about $6,100 dollars, and so supposed to be worth almost 5 ounces of gold. Sometime in the near future, I expect one of the dozen largest holders of Bitcoin balances is going to want to reduce his holdings. That is going to be something to watch, because suddenly, everybody will seem to want to reduce their own holdings, and that's "Sayonara" for Bitcoin and its fellows.

The crypto-currencies are a modern instance of "The Madness of Crowds" and they are going to cause a lot of grief, in due course of Time.

http://news.goldseek.com/GoldSeek/1530279574.php
 

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Crypto Market showing signs of cracking - too many Shitcoin

by globalintelhub
Thu, 06/28/2018 - 21:22


The Crypto Market isn't all it's cracked up to be. Last year we wrote a book on this topic, Splitting Bits (you can get it here). But the book was written in October, before the huge rise in price in November and December. Just like with traditional markets - investors only seem interested in the winners. When we said that 90% of ICOs are frauds - did anyone really hear that? Or were they just 'listening' ?

A recent article by Bloomberg has many investors shaken:

As the digital money frenzy of the past few years cools, the crypto coin graveyard is filling up. Dead Coins lists around 800 tokens that are bereft of life, while Coinopsy estimates that more than 1,000 have bought the farm.

The carnage is mostly the consequence of failed projects from the thousands of startups that used initial coin offerings to raise billions in funding, and a global regulatory crackdown on questionable practices and scams. Names like CryptoMeth, Droplex and Roulettecoin may have been a clue to the coins’ dim prospects.

“There has obviously been a lot of fraud and hype in the ICO market,” Aaron Brown, a business author and investor who writes for Bloomberg Prophets, said in an email. “I accept figures I have seen that 80 percent of ICOs were frauds, and 10 percent lacked substance and failed shortly after raising money. Most of the remaining 10 percent will probably fail as well.”
While everyone is watching Bitcoin, many forget about the thousands of failed projects, frauds, and other failed ICOs that didn't meet the mark.



While this may seem like an obvious statement, with all the hype - some need a reminder of this. As they say in Israel, most projects are 'shitcoin.' Oh you think this is another joke, do you? No no no... no no no .. it's not.

Click here to see SHIT trading on coinexchange.io



This is a great example of what comprises the majority of the Crypto Market. Now of course, not all coins are shit coins - in fact many show signs of promise. And also, not all ICOs are crap, there are those that actually have an underlying technology which look very promising, such as Sky Desks, Cornucopia, and others. Some from the 'real world' are finding no trouble raising money, that is - coins that actually have viable business models - such as Box Bit. Consulting companies are popping up everywhere.

But going back to SHIT, it really is wide spread. So few ICOs are regulated, in fact there is only one 'official' regulated ICO and it's not an ICO it's an STO (Securities Token Offering) tZERO.

It seems that there is only one coin, that everyone agrees (at least the market) is good - and that's Bitcoin. But yet, we don't know who created Bitcoin, even though the NSA said they can't say if they created it as this is classified (classic!).

Millions of people around the world are trying to start their own coins. Platforms like Waves allow you to do this in a few minutes after paying the ETH fee. But what value does a coin have which can be created in the equivalent of Microsoft Money?

You know that many of us were not born yesterday, so we're not falling for the banana in the tailpipe.


It can be you! Just liquidate your 401k and invest in the next 'Bitcoin' - which you probably have a friend who told you what it's going to be.

WARNING - THIS IS SARCASTIC HUMOR. CRYPTO INVESTING IS RISKY AND YOU SHOULD ONLY INVEST FUNDS IN WHICH YOU PLAN ON LOSING IN ORDER TO OFFSET YOUR MASSIVE TAX BILL ON YOUR BITCOIN GAINS YOU HAVE CARRIED FORWARD SINCE 2017.

To track the growing number of new Crypto Currencies, Checkout Total Cryptos. For a refreshing technology planning on a token sale, checkout Sky Desks @ www.skydesks.io

https://www.zerohedge.com/news/2018-06-28/crypto-market-showing-signs-cracking-too-many-shitcoin