What a week in crypto.. Im scared of what can come out tommorow!

in bitcoin •  3 years ago  (edited)

This is a short recap of just.. 3 days. If you want to know more about chosen topics use google or check my previous posts (most stuff is covered there as the story develops).

BTC-E Goes Down


Posted yesterday, its their longer downtime now. Connected to arrest of their friend, rumour says they have to move everything and change after the arrest. But also its possible they wont come back and money will be gone.

MtGox Hacker Arrested


Lots of mixed infos on this now but here is current recap of all sources i have:
guy wasnt the hacker but knew owners of exchange and helped to lounder stolen coins from few exchanges on BTC-E.

SEC Calls ICOs Securities


Due to DAO Hack USA decides to protect people from bad investments and calls them Securities which puts extra laws on those. ETH stil lcalled currency and now most coin crews just make sure to edit stuff to be shown not as security.
https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings

Genesis Mining Hacked


This site is most shilled for mining and they got hacked and lost funds yesterday. The ysay withdrawals will be back soon.

Bittrex to Give BCC to Users


BCC is the chain split of BTC into altcoin called BCC that will happen 1st August.

Shaolinfry Quits LTC


Hes the guy who helped to code up SegWit activation for LTC.

Rassah Quits Mycellium


Ive been not recommending Mycellium since long time but seems now team is splitting too.

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!

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WIld west

LTC news was interesting. Any more background on why the developer moved on?

STEEM On!!

Just want an opinion. We already have a BCC token on coinmarketcap.com which is Bitconnect (MLM coin) so what happens when 2 token have the same ticker?

Thanks for sharing.

jrlo is right!! Thanks for this post!! With so much going on the the crypto space it's hard to keep up.

Great post. I had a chance to talk with a lot of investors from the BTC-e site. Here's another story about BTC-e
https://steemit.com/cryptocurrency/@haiduong/btc-e-suspended-who-lost

  ·  2 years ago Reveal Comment

Excellent summary report of what's going on in Cryptocurrencies.

Thank you for sharing.
@Yehey

  ·  2 years ago (edited)Reveal Comment

This post received a 2.6% upvote from @randowhale thanks to @yonny! For more information, click here!

Hey, how do you think btc-e going down will affect btc price? Will we see a dump or the ammount of bitcoins that is no longer in circulation will maybe make the price go up?

Thank you for presenting important information in your post is very useful for us all and have given the impression here, i am very happy to see this post hopefully you always can menberi and make like this, hope you always succeed and get the achievement like that Have you hoped

enough news to make your head spin, slightly more than any other week, but these stories seem more able to influence prices of certain coins.

Even if it's shocking, we all kinda got used to it, considering past occurings
well

I think we will continue to see these kinds of things as the crypto communities become more and more main stream. Unfortunatley, that is one of the downsides, whenever there is money in something for people to take advantage of, that is where the hackers and scammer will be

Very true, but it was the same during the Tech bubble 1995-2000, and we see just how the world changed from that. All the new innovation came from the demise for companies like Pets.com, eToys.com etc.

Right now we'll see a lot of garbage companies/tech that will get shaken off the crypto tree over the next few months.

Is it always calm before a storm?
Maybe the saying is not true or maybe there is no storm on August 1th!

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Nice to see that Litecoin didn't lose any value since that announcement!

A lot of madness has been happening with the crypto space lately it just means that the security needs to be tightened up! Unfortunate with genesis though, they're a solid company and I'm glad they were honest about being attacked this makes me trust the company even more (I know its funny right) but that shows integrity and so I'll def stick with them eventhough I'm behind like 5 payouts.

Exactly my thoughts.
Everyone is excited about expansion and profits in the cryptocurrency world, and security is getting less attention than it deserves.

I almost lost a few coins on a wallet the other day. It reminds me of that this thing takes a lot of time until average joe can use it without worryinga bout the security of exchanges or wallets etc.

Yea definately

Wow.. I'm just holding. Curious to see what will happen.

Things shouldn't always go smooth

It's been a crazy week, and don't forget about LedgerX,: “On Monday, a bitcoin options exchange called LedgerX won approval from the Commodity Futures Trading Commission to clear bitcoin options, making it the first U.S. federally regulated platform of its kind,” reports The Wall Street Journal.

I didn't know Genesis was hacked. Would have been nice if they would have disclosed that information.

Great info brother. Thanks for posting it all in one place here.

Actually Genesis-Mining themselves announced the hack. You can read it here :

http://blog.genesis-mining.com/genesis-mining-service-update

It seems to be under c

  ·  3 years ago (edited)

Really crazy whats going on. I will be glued to my seat come August 1st to see changes. People are saying Bitcoin down under $1,000? Time to sell? @kingscrown

That's what THEY want

  ·  3 years ago (edited)

There's too much hype around august 1st. This is a long game. Look at the big picture and you'll sleep better. Hold on to your coins, diversify and don't keep them at an exchange.

Why not keep them on an exchange? Would you kindly elaborate.

Exchanges are magnets for hackers. They have the control of your security keys. Its ok for a moderate amount but don't put all your eggs there.

I wouldnt sell but we are at historical point so nobody can predict whats up.
If you sell you wont get your BCC tokens.

I have no idea what will happen :)

Agreed

With all the shit going on today, I'm not sure I even want to get out of bed tomorrow.

PLEASE do more posts l;ike this!!! maybe I should do them too because theres SOOO much to keep track of right now!!!!!!

But this iwas SO useful

Your actualy creating posts more valuable than any bitcoin news website with its paid articles and ads, ur blog is WAY better !

and i hope you start making $1000 off each of these type of posts !!!

SO HELPFUL!

You missed one:

The arrested "Mt.Gox hacker" ran BTC-e!

The man and his company both face criminal charges with potentially enormous penalties. I wrote a piece detailing the indictment: https://steemit.com/bitcoin/@olyup/btc-e-exchange-founder-faces-385-years-in-prison

Don't expect any of those funds to return any time soon - maybe never!

Its been a busy week!! Fingers crossed for some stability next week and maybe a gradual return to higher prices! Although it may be all the excitement that keeps us all around and not investing in the bond market!!

It's to the point where I can't possibly keep up with all the crypto news. It's crazy.

Thanks for this post .......:) :)
I UPVOTED you
you can see my blog @jyotirmay
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Good work like always ! Thanks Kingscrown !

There is no guarantee, or even strong likelihood, of that happening. For the same reasons we could see a crash that bottoms out around August 1 or 2 and then a climb back up.

And yet Bitcoin just keeps going up. What happened to the hard fork flashcrash? Sorry, I'm asking rhetorically because I'm really asking myself.

I think all of this was bound to happen. Now that crypto is becoming extremely popular, almost to the point that Bitcoin is a household term, security and privacy are going to be challenged on multiple platforms. I think this is just going to make everything better for investors and actual users of the coins in the future.

Bubbleboy vs mudpie theory from aantop at work!

Holy shit... this resembles an anarchy that may occur if the power grid went down out in the tangible world...

Thanks for the cool and very useful summary of the news on the crypto world... Reading all that did make my heart rate go up... bitcoin and now even litecoin is worrying me.

I had no idea that Bittrex was going to distribute BCC - I hope Poloniex does as well.

That feeling you get when you move your money away from an exchange that then goes down for "unplanned" maintenance. Hope anyone else that still has money with them are able to get it back.

Thank you for the post! This was definitely an agitated week, especially for SEC's order I am pissed about that. What do you think will happen with onG social and its onGcoin ICO? It is not a normal ICO since it has been up and running for sometime now.

BTC-e exchange associated with arrest in Greece - in the case of money laundering through bitcoin
https://steemit.com/news/@niceviewsua/btc-e-exchange-associated-with-arrest-in-greece-in-the-case-of-money-laundering-through-bitcoin

Glad to hear Bittrex providing $BCC for their users.

Stolen all ETH on BTC-E exchange ! Please support post will follow back and upvote ! Please resteem !
https://steemit.com/news/@niceviewsua/transferred-all-eth-94-5-m-usd-from-wallet-of-btc-e-exchange

This is madness

I find it awefully strange that all this happens within a few days of each other right before segwit gets implemented and bitcoin should moon. Seriously what is going on??

First come the pawn moves, then the real game begins!

What does that mean? I don't know, but it sounds profound!

I'm thinking with all these news, the crytocurrency market is being cleaned out of its anarcho capitalist old guard to make way for the more mainstream future. With exchanges with lax KYC rules like BTC-E being closed down along with shutdown of darknet marketplaces like AlphaBay and Hansa . The market is shedding its shady past to accept a more corporate future
There is also the case of the biggest BTC mixer closing and urging others to close down also saying Bitcoin has no future with drug/weapon traffic or any other illegal activity. I'm thinking it is getting hot for the businesses who try to protect the identity of its users

https://news.bitcoin.com/one-of-the-largest-bitcoin-mixing-services-closes-its-doors/

A centralised agency who will regulate ICO's is not good news. I know people have been hacked but they should be educated on "why they were hacked?" Or where did the missed out details?

So that they can learn from it be educated investors.

All centralised autonomous agencies have a history on serving only the rich.

I would like to quote Andres Antonopoulos
image

Here is the video where he says this

Hello! My name is @murasaki and I will be translating your post into Spanish, thanks for your contributions, in each post I will respect your authorship and place your user

So it seems what made crypto currency a success may also be what could potentially bring it down. Now the people wants thighter regulations etc... Sounds familiar?

Probably will be a great time to buy btc after 1 august, hopefully the price will decrees, I am very curious what will happen with his value.

Best thing you can do is follow the banks and their money (it's really our money they stole, but for the sake of this post we'll say it's theirs.) There are major banks buying up major amounts of coins as we speak as the prices fall. Banks have never invested heavily in something if they didn't know it would succeed. It's always been that way. Do your own research.

Things be moving and shaking!

Just wait. A few days, and that BCC fork, and we'll be looking at enough drama to write a soap opera!

I personally have just started getting into the world of crypto and so far its a blast. That being said, because I just started, I do not have much invested in the market yet but the future seems bright for it and I cannot wait to really sink some time and money into it! Great and informative post!

Interesting updates in the cryptocurrency space, thanks for sharing great content we can all benefit from

Hi, and thanks for some very great info. New to all this here. So getting around and trying to read up on alot of GREAT info on steemit. I will definitely be following your posts. Upvoted and followed.

shutdown of BTC-e may affect the price of Bitcoin and other coins as the coins circulation will not enough.

Seems everyone is scared and nobody knows for sure what will happen.

This reminds me of 1999 and the 'millennium bug'

Nothing happened then and I think nothing will happen now.

Great buying opportunity if you have the money!

Keep up the good work with your posts!! :)

Thanks for the update!

Very scary week indeed...............

This is all a signal that perhaps this speculative bubble we are all living in is close to popping. I don't mean to sound alarmist because I think its honestly a good thing and cannot wait for the stability and prosperity to come after only the strong companies survive.

Very Nice Sharing
Dear @kingscrown please follow me back and voteup my posts @faheemahmad
Thanks :)

The security concerns seem to be increasing every day as this gets popular. Like people are rushing towards crypto currency. Which is totally not a bad thing to do. It is a newer technology compared to what other forms of currency we used to have and still have.

I fear that this is going to become as unsecured as walking with a load of cash on the open street full of thugs. Which will turn out to be a nightmare for a lot of us. I hope that this thing is controlled soon before it gets too late.

Hi I am a HUMAN BEING and NOT a Bot! (just thought you should know) Great info. thanks for posting - upvoted & following!

Very good summary of Crypto news in one place....thanks for posting @kingscrown. Is there any way you can update this post as other similar developments hit the news ?

What's your take on the bitcoin fork? I just wrote an article called "Bitcoin Cash: The Plan To Fork Bitcoin Back Out Into The Real World."

... The value of Bitcoin Cash is easy to see. But you need to look at its value from a FIAT currency perspective and not from a crypto currency perspective if you are going to see that value.

The word "cash" provides the biggest clue. It was no doubt chosen for the new currency because it invokes a sense of tangibility ( and normalcy ) in the minds of people. The target market for Bitcoin Cash is ordinary consumers... ( read more )

https://steemit.com/bitcoin/@skyflowers/skyflowers-co-0029-bitcoin-cash-the-plan-to-fork-bitcoin-back-out-into-the-real-world

If BTC splits to make BCC, what about BitConnect? Isn't it already using BCC?

Lots of good info in this post, thanks for sharing. Let's see whats going to happen in the coming days, best of luck to everybody out their holding!

Wow, Genesis Mining Hacked??!!!!
It certainly was not so easy ...

One would think that BTC-E would have some sort of shtf plan in place in case their laundering adventure unraveled. It's a shame if they don't return, I used to visit just for the troll box.

Bitcoin world is always drama!

Lots of news in this crazy week in cryptocurrency! More news surely on its way heading into August.

What will it be like when all of it is main stream?

Thanks for sharing,really enjoyed it ,very useful.
Looks like we're heading for uncertain times.

Such a huge info.. that's why Genesis not paying since the 21st. Well, hopefully all sort out..

Within chaos shines the light of opportunity. Nice post.

the end is near

You may want to edit:

The ysay withdrawals will be back soon.

Under "Genesis Mining Hacked"

There is always so much drama in crypto world. There always seems to be another hack and coins stolen.

Latest news about what happened to BTC-E Exchange , confiscated domain, came the FBI ,The funds will be returned to everyone!
https://steemit.com/news/@niceviewsua/latest-news-about-what-happened-to-btc-e-exchange-confiscated-domain-came-the-fbi-the-funds-will-be-returned-to-everyone

This is bad. Every other day we hear about Crypto sites and exchanges getting hacked. This will scare away the newbies.

The question remains answered; will Cryptos go mainstream???

hey @kingscrown -

This is a great trove of information. I didn't know it was a hack on Genesis Mining.. and as a customer, this seems like a good thing to know.

have a great rest of your day!

@mikev

A nice sum of the important things this week.
I don't doubt next week will be very interesting and potentially profitable!

nicecode

You have written about really important things on cryptocurrency market. We have difficult situation now, but it's temporary. Market will be on good way soon :)

Well, I keep accounts on multiple exchanges, and within that one exchange I'll have only one coin stored. I cannot trust a hardware wallet. Knowing my luck, I'd lose it. I use crypto as one of many baskets too, so I do not have all my wealth tied up within the coins.

Still, this is one reason I like Steem Power, for it would be very difficult to hack it. It seems to be a very safe place to store my crypto profits too. I'll make money on exchanges, buy STEEM, and transfer the profits to Steemit. That's a decent strategy?

Great compilation ! Informative post.
Thank you so much for your effort.
👍👍👍

  ·  3 years ago (edited)

I sold all my crypto holdings last week after the bounce; will wait for the bitcoin split noise to go down before getting back in

I'm glad that hacker has been arrested.
Hopefully the down time for BTC-E doesn't last too long.
I hope they return and do not just disappear

It will goes more down upto 2000 for correction purpose after that btc will green day by day !

Sadly a lot of doom and gloom in the past weeks. They say you got to take the rough with the smooth, so with all that rough surly there is a hell of a lot of smooth on the way. (fingers crossed)

@kingscrown I am optimistic crypto world will stabilize amidst this period of uncertainty. Ofcourse, there will be separations, hacks, soft fork and so on... All these 'ills' I presumed will firm crypto world currencies.

This post received a 100% vote by @nettybot courtesy of @netuoso from the Minnow Support Project ( @minnowsupport ). Join us in Discord.

thanx @netuoso

Interesting times!

Personally, I am waiting for this weekend - its all going to go haywire! I decided to not sell or worry until 2018 so I am going to have lot of fun watching people go bonkers...

The only fkng regret I have now is that this stupid CoinBase has shutdown BTC transactions so I may not be eligible to take advantage of 'down trends' of market...

Those who have some spare funds should take advantage of this weekend! (and 2-3 weekends that follow)...

Good luck to all of us!

Thanks for sharing. I wonder if the crypto is even crazier that we think. For example the recent rise of altcoins could happen because that guy was laundering BTC on own exchange. So he effectively was exchanging BTC for alt and then repurchasing them without leaving any trace. ( as he own exchange he could wipe all logs at moment notice ).

a big shout out to ctyprox that did their diligence and helped catch the crminals at btc-e
http://archive.is/6cFcY

I am surprised there aren't more movies made about the Crypto space.

https://www.cryptocoinsnews.com/dope-bitcoin-inner-city/

There was a movie made about bitcoin called,"Dope". I highly recommend! It's very well done!

Great thanks for that. I will check it out.

I suspect many ICO's will state US residents are not allowed to purchase. It's hard to enforce though. Would be nice if government stayed out of crypto, it's done really well without interference.

Do you think US residents will be able to participate in ICOs after the initial funding round? Or, not at all. Basically, US residents can invest in equities but not IPOs if they are not accredited investors.

I would guess only if ICO follows all the securities laws and becomes listed. I don't the process of that for IPO's but I bet it's complex and expensive.

Thank you for information 1 vote

wow lots of news good post

Bitcoin & The Manic Bullishness Of The Crowds Struck Again (WAM/Jeff Berwick Talk Cryptocurrencies)
https://steemit.com/bitcoin/@earthcustodians/bitcoin-and-the-manic-bullishness-of-the-crowds-struck-again-wam-jeff-berwick-talk-cryptocurrencies

we're are in stormy waters right now i think. After the huge rise in the first half of 2017 many including me awaited a crash of Bitcoin to levels maybe a $1,000 but until now we see it near all time high since two months! If you look at past spikes of Bitcoin it was a pattern and people like pattern. But this time it was different (you know what people say in a bubble like that :) ) it just oscillates around $3,000 longer than before but how long it will last?

Every day good and bad, new assets are rising their armies and swords and in the meantime Bitcoin takes a rest with nearly 50 percent market share .. taken into account that there are battles between users and miners to strengthen the aged technology.

I was scared by John Mcafee just a little bit because we taking many things for granted, and you perfectly show what's going on with security issues. Holding money at exchanges is like to wait for the next raid of hackers to welcome them for harvest.

The ICO frenzy is going on and the next, and the next, and the next big thing pops out. If dev leads are changing camps than there are turbulent times ahead. I am excited about and looking forward what's next.

Thank you!

Looks like the collapse of the exchange)

Really need to triple quadruple securities measures as hackers were getting more skilled.

Thanks for sharing

Fantastic update as always @kingscrown. Big news for Bittrex BTC holders with the BCC fork freebies!