Rubix Market View (5/7/2018)

#Coinmarketcap Top Ten
1.Bitcoin(BTC) price is down 3.17% at $9,259.81
2.Ethereum(ETH) price is down 8.35% at $712.47
3.Ripple(XRP) price has decreased by 5.98% at $0.815218
4.Bitcoin Cash(BCH) is down 6.95% at $1597.05
5.EOS(EOS) price has increased by 0.74% currently trading at $17.62
6.Litecoin(LTC) is down 5.83% trading at 159.67
7.Cardano(ADA) price has decreased by 6.48% trading at $0.324255
8.Stellar(XLM) price is down 7.28% trading at a price of $0.382851
9.IOTA(MIOTA) is down 7.15% currently trading at $2.12
10.Tronix(TRX) price has decreased 3.87% and is currently trading at $0.080372

Sidenote: It's very interesting to see NEO, DASH, MONERO, and NEM are no longer holding a spot in the top 10 by marketcap.

1. Neo(NEO) price is down 5.25% trading at $77.23
2. Dash(DASH) has decreased 7.89% trading at $448.33
3. Monero(XMR) is down 5.11% at a price $223.63
4. Nem(XEM) price is down 6.48% at 0.380279

(prices quoted at current time of writing and can be found at https://coinmarketcap.com/

Notable News

• A disgruntled XRP investor has filed a class-action lawsuit against Ripple, alleging that the company violated US and state-level securities regulations by selling the token to the general public.

"The lawsuit, which also names as a defendant Ripple CEO Brad Garlinghouse, argues that Ripple has essentially conducted a “never-ending ICO” that should be classified as an unregistered securities offering according to definitions used both by the US Securities Act and the California Corporations Code."
https://www.ccn.com/disgruntled-xrp-investor-hits-ripple-with-class-action-lawsuit/

• Billionaire Warren Buffett, a notorious bitcoin bear, blasted cryptocurrencies again at the 2018 Berkshire Hathaway annual shareholder meeting on May 5.

Buffett reiterated his earlier warning that “cryptocurrencies will come to bad endings,” the Wall Street Journal reported. “If you had bought gold at the time of Christ and you figure the compound rate on it, it’s a couple tenths of a percent.”

Buffett previously said buying crypto isn’t real investing, but is merely speculative gambling, as CNN has reported. He said unlike real estate or company stocks, virtual currencies have no real value and only attract “charlatans.”‘

“If you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything,” said Buffett, 87. “You’re just hoping the next guy pays more.” https://www.ccn.com/billionaire-warren-buffett-trashes-bitcoin-again-its-rat-poison-squared/

• Bitcoin's (BTC) pullback in prices over the weekend has dampened the immediate prospects for the bulls, the technical studies indicate.

Having witnessed a bullish pennant breakout last Friday, the cryptocurrency looked set to scale the $10,000 mark in a convincing manner over the weekend.

However, the bullish move unexpectedly ran out of steam at $9,990 at 13:00 UTC on Saturday, according to Bitfinex, and had retreated to $9,258 earlier today. https://www.coindesk.com/bitcoin-looks-for-price-support-after-failed-10k-crossover/

• Japanese regulators have announced stricter regulations for cryptocurrency exchanges in an effort to prevent another heist like the one that befell Coincheck in January, according to Nikkei Asian Review.

The country’s Financial Services Agency expects to begin using a new, stricter framework for registered cryptocurrency exchanges this summer, and will advise those that fail to meet its new rules to discontinue operations. Both new and existing operators will be required to meet the new standards. https://www.ccn.com/japan-bolsters-regulatory-requirements-for-crypto-exchanges-to-prevent-another-coincheck/

• The bill originally sought to enable Arizona's Department of Revenue to collect cryptocurrencies, like bitcoin, for tax payments. The bill was introduced in January and quickly passed through several committees before being referred to the House, as previously reported. Committees in the House similarly approved the bill's passage, but it stalled at the beginning of March. https://www.coindesk.com/arizona-lawmakers-strip-crypto-mentions-tax-payments-bill/

• GOOGLE, your friendly neighbourhood watch, in global cloud Camera Grid
  

https://www.youtube.com/channel/UClY2ohhGAgBAD80OGiHjZ0w