Daily Crypto Update: Bitcoin Gold Sell-Off? Someone Just Split & Moved 664,000 BTG

in #bitcoin7 years ago

Market Analysis

This is NOT Financial Advice
 Markets continuing its downward trend. Surprising since the Lunar New Year is over and the chinese should be going back to work.
 Eth to btc prices seems to have stabilized somewhat at 0.08
 For the past 2 weeks or so, BTC dominance has slowly been climbing up. From below 34% to now above 39% of the total market cap. What does this mean for cryptocurrency as a whole? Are new hands entering the market and buying only what they have heard of?
https://www.coindesk.com/bitcoin-rally-stalls-but-bull-revival-isnt-yet-ruled-out/

Daily News
 Bitcoin Gold Sell-Off? Someone Just Split & Moved 664,000 BTG
https://www.ccn.com/bitcoin-gold-sell-off-someone-just-split-moved-664000-btg/

Someone has just claimed 664,000 bitcoin gold. A less popular fork than bitcoin cash, but at current prices, that amount is still worth over $80 million USD. However with a daily trading volume of around $40 mil, it would be very difficult to sell of the coins without causing the price of bitcoin gold to crash.
Another interesting question is to get 664,000 bitcoin gold, the person would have had needed access to the same amount of btc. Looks like some whale is looking to finally cash in.

 BitFunder owner arrested by US goverment
https://www.coindesk.com/us-government-arrests-bitcoin-stock-exchange-founder/

A joint investigation by the FBI and SEC released today show charges against bitcoin stock exchange BitFunder owner, Jon Montroll.
“Prosecutors allege that, in November 2013, Montroll "provided sworn testimony to the SEC's New York Regional Office in connection with their investigation into the Exploit and BitFunder's activities." As part of that testimony, he submitted a balance statement which reflected "the total number of bitcoins available to BitFunder users in the WeExchange Wallet as of October 13, 2013" that amounted to roughly 6,700 BTC.

Yet that balance sheet statement constituted "a misleading fabrication," the Justice Department said Wednesday”
Maybe this will give hope to Mt. Gox users that justice will be served to Mark Karpeles.

 Japanese Crypto Exchange Accidentally Gives Bitcoins Away for Free
https://cointelegraph.com/news/japan-zaif-exchange-reports-glitch-20-trillion-in-btc-temporarily-purchased-for-0-yen

A glitch in a japanese exchange allowed users to buy bitcoin for 0 yen. One buyer attempted to sell $20 trillion in btc before the problem was resolved.
“The latest difficulties comes as Zaif gains increased regulatory scrutiny in the wake of January’s $530mln hack of Japanese crypto exchange Coincheck.”

Other News
Confirmed: Bitfinex Exchange Has Account On Dutch ING Bank
https://cointelegraph.com/news/confirmed-bitfinex-exchange-has-account-on-dutch-ing-bank

The Legal Risk to ICOs That No One's Talking About
https://www.coindesk.com/legal-risk-icos-private-lawsuits-securities-laws/

What Venezuelans Are Saying About the Petro
https://www.coindesk.com/what-saying-petro-crypto-venezuelans-bitcoin/

German Regulator Pledges 'Precise' Oversight of ICOs
https://www.coindesk.com/german-regulator-pledges-precise-oversight-icos/

‘Zen Master’ Steven Seagal Confirms He Is Face Of New ‘Superior’ Coin Bitcoiin2Gen
https://cointelegraph.com/news/zen-master-steven-seagal-confirms-he-is-face-of-new-superior-coin-bitcoiin2gen

Cryptocurrency Miners Flock to Asia’s Malls for Cheap Crypto-Mining Rigs
https://www.ccn.com/cryptocurrency-miners-flock-asias-malls-cheap-crypto-mining-rigs/

Lenovo Seeks Blockchain Patent For Document Validation
https://www.ccn.com/lenovo-seeks-patent-for-device-to-ensure-integrity-of-signed-documents/

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That exchange glitch is hilarious. Good that they caught it before any bitcoins were sent out of their wallets

Bro i always upvoted your post when i see it. I hope you also upvoted my pist

Look like an overall bad day for crypto currencies. I wonder what next. The bitcoin gold is a terrible coin. Its nothing but just a terrible attempt at marketing themselves as the next bitcoin. They lack underlying technology and all. When it was launched the coin traded at 500 dollar something. Now it has come down to some hundreds.

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