This Week in Bitcoin: McAfee’s Bullish Prediction and a Guy Living in His Car

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This Week in Bitcoin: Mcafee’s Bullish Prediction and a Guy Living in His Car

This week we learned that Deutsche Börse “Deep at Work” on Bitcoin and John McAfee predicted bulls’ billions will soon be pumped by institutional investors, despite the current cool market. These stories and many more were covered in this week’s daily editions of Bitcoin in Brief. And the most commented on story of the week talked about a guy living is his car while working two jobs just to invest in crypto.

Also Read: US Justice Department Investigates Price Manipulation in Bitcoin Market

New EU Rules Kill Another Crypto Venture

This Week in Bitcoin: McAfee’s Bullish Prediction and a Guy Living in His CarYou could not have missed the impact of the EU’s General Data Protection Regulation (GDPR) which came into force this week, not with all the emails you must have received from any service that has ever had access to your address. However, one might have not known that the new regulations also had severe consequences for some services that had to shut down.

On Monday we reported that team behind Parity Technologies, the developers of the Parity multi-signature wallet, have announced that due to GDPR they are shutting down PICOPS, a service used by ICO campaigns to comply with KYC/AML regulations by validating that the owner of an Ethereum wallet has already passed an ID background check.

Crypto Revolution Reshaping Global Politics

The intersection of politics and cryptocurrency was our main focus on Tuesday. We reported that Iranian and Russian lawmakers are jointly examining the idea of using cryptocurrency to bypass international and American sanctions. And in the US, Congressional candidate Brian Forde raised $100,000 in cryptocurrency donations, and an opponent attacked him for this, referring to his donors as “bitcoin speculators that oppose cracking down on drug deals and human trafficking.”

We also reported that Vitalik Buterin has co-written a short manifesto of sorts with the young political economist Glen Weyl, unapologetically titled “Liberation Through Radical Decentralization.” In it they explain how the cryptocurrency ecosystem is suited for developing and testing new models for governance, voting and more, in a way that can fundamentally change how both democracy and capitalism work.

McAfee Predicts Bull Run as Crypto Markets Dip

This Week in Bitcoin: McAfee’s Bullish Prediction and a Guy Living in His CarJohn McAfee’s prediction of a bull run on the cryptocurrency markets in the near future was one of the most discussed issues on Wednesday. Billions will be pumped by institutional investors, the internet security expert expects. McAfee claims this will lead to significant changes in the market capitalizations of the leading cryptocurrencies, but also those of most altcoins.

“Institutional investors are preparing to enter the cryptocurrency market with a vengeance,” McAfee said. He explained that they are generally long term investors that will spend billions on the market. “Expect the top ten coins to go through the roof fairly quickly. The bulk of altcoins will soon follow,” the software guru wrote. Admitting he had no more information than his followers, John McAfee advised them to check the recent news and use their heads.

Main Street Adopts Bitcoin Ahead of Wall Street

On Thursday we reported that Deutsche Börse AG, the group which operates the Frankfurt Stock Exchange, is actively examining its options for launching cryptocurrency derivatives. This was revealed by Jeffrey Tessler, CEO of the post-trade services provider owned by Deutsche Börse Clearstream and member of the group’s executive board. And changes to the Volcker Rule give Americans a new reason for moving their money away from big banks to cryptocurrencies, according to the latest analysis by Weiss Cryptocurrency Ratings.

Luxury Jets, Cheap Air Tickets Offered for BCH

This Week in Bitcoin: McAfee’s Bullish Prediction and a Guy Living in His CarThe growing number of bitcoin cash adoptions has been in the headlines on Friday. White Company, founded by former executive at Formula 1 and LVMH, Elizabeth White, which offers high-end products and luxury brands, including fine watches and sports cars, has become the latest business to accept BCH payments. And the online travel agency Cheapair.com has also announced it started accepting bitcoin cash for booking flights and hotels.

Man Goes All In on Crypto

The most commented on story of the week talked about a guy living is his car while working two jobs just to invest it all in crypto. The Canadian man explains that he parks his car in his friend’s garage to sleep, for which he pays $40 CAD per month. Despite the cramped conditions, he hasn’t forgone all home comforts, finding space to squeeze in a memory foam mattress and comfy quilts. He’s also able to shower at a friend’s house and store some items there. As for his crypto portfolio, the unnamed Canadian is currently pinning his hopes on Collosusxt, Fundrequest, Policypal, and Dero.

This Week in Bitcoin Podcast

To make sure you didn’t miss any big bitcoin news this week, listen to the following podcast:

What other stories everyone in the bitcoin world must have read this week? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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Despite 2018 Bear Trend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

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Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

In our latest historic snapshot analysis, we look at the performance of the top ten cryptocurrency markets since May 28th, 2017. Despite suffering heavy losses during 2018, the average price gain of the top ten markets has been 170% when compared with prices from 12 months ago, with only one of the then leading markets trading at a lower price today.

Also Read: Markets Update: Bear Market Adds Cryptocurrency Trading Uncertainty

BTC and ETH up Approximately 240% in 12 Months

With the price of bitcoin trading for approximately $7,345 USD as of this writing, the value of BTC has almost tripled since last year.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

Then trading for $2,173 according to Coinmarketcap, bitcoin had a total market capitalization of $35.5 billion on the 28th of May, 2017 – approximately one-quarter of today’s capitalization of $125 billion.

During late May last year, Ethereum was in the early stages of a parabolic bull-run that by mid-June would prices up to approximately $400.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

After having broken above $100 for the first time just a few weeks earlier, ETH was trading for $171.55 and had a market capitalization of $15.78 billion at the time of the snapshot. ETH’s price has since increased by 242% – with the markets trading at approximately $586.80. Ethereum has remained the second largest cryptocurrency by total capitalization – currently boasting a market cap of roughly $58.5 billion.

Mixed Performances Among Top Altcoin Markets Of May 2017

Like today, XRP was the third largest cryptocurrency by market cap on the 28th of May last year, with a total capitalization of $8.8 billion. As of this writing, Ripple has a market cap of roughly $23.75 billion, with the price of XRP having gained 162.75% from $0.231 to $0.606.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 MonthsWith a total market cap of nearly $2 billion, XEM was the fourth largest market by capitalization at the time of the snapshot. Since then, XEM’s market cap has grown modestly, with XEM’s current capitalization of $2.327 billion making it the fifteenth largest crypto market. The price of XEM has increased by just 20.75% since last year, gaining from $0.214 to $0.258.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

Ethereum Classic is the only top ten cryptocurrency market from May 28th, 2017 to be trading at a lower price today – with ETC having fallen approximately 10% from $16.95 to $15.28. The total capitalization of Ethereum Classic has also shrunk when compared against last year, with the then fifth largest cryptocurrency market by capitalization now ranked seventeenth with approximately $1.557 billion – down from 1.559 billion last year.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

LTC Produces Highest Percentage Gains of Top Ten Crypto Markets

Of the then ten largest cryptocurrency markets by capitalization, Litecoin has seen the largest percentage price gains since 12 months ago, with LTC’s current price of approximately $118 comprising a 365% increase from $25.38 – which was posted at the time of the snapshot.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

Today, as with a year ago, Litecoin is the sixth largest crypto market by market cap. The total capitalization of the LTC markets has grown from $1.3 billion 12 months ago to nearly $6.7 billion today.

DASH, XMR, BCN, and GNT Slide from Top Ten Rankings by Market Cap

Of the highest ranked markets by capitalization from the 28th of May, 2017, only BTC, ETH, XRP, and LTC have retained their position in the top ten – all of which are ranked the same today as they were one year ago.

The then seventh-ranked cryptocurrency by market cap, DASH, now sits at thirteenth – with the total capitalization of DASH having grown from nearly $810 million to roughly $2.585 billion today. The price of DASH has grown by nearly 190% in 12 months, with DASH gaining from $110.5 to $319 today.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

On the 28th of May, 2017, Monero was the eight largest crypto market by capitalization with a market cap of $535 million. Today, Monero is ranked 12th with a total capitalization of $2.6 billion. XMR is the second best performing top ten crypto market since May 2017, with the current price of approximately $162 comprising a 340% increase from $36.86.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

12 months ago, Bytecoin was the ninth largest cryptocurrency by market cap with approximately $480 million. The BCN markets have since moved to 19th position, with a total capitalization of $1.175 billion today. Despite the price of BCN having nearly halved in the last two weeks, BCN is currently trading 142.5% higher than it was a year ago – gaining from $0.002634 on the 28th of May, 2017 to $0.006385 today.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

Golem was the tenth largest cryptocurrency by market capitalization 12 months ago with a total capitalization of roughly $360.5 million. Since then, the total capitalization of the GNT markets has shrunk to approximately $384.3, making Golem the forty-seventh largest cryptocurrency by market cap. The price of GNT has increased by just 5.3%, gaining from 0.437008 to 0.460301.

Despite 2018 Bear Tend, Top Ten Crypto Markets of 2017 Gain Average of 170% in 12 Months

Are you still holding cryptocurrencies you purchased last year? Share your experiences in the comments section below!


Images courtesy of Shutterstock, Trading View


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Bitgrail Exchange Ordered Down Indefinitely as Italian Court Upholds Halt

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Bitgrail Exchange Ordered Down Indefinitely as Italian Court Upholds Halt

Earlier this month, Bitgrail’s principal Franceso Firano attempted to reopen the Italian cryptocurrency exchange after $170 million in losses and during their legal sorting out. An inside job or software hack, that hasn’t had an official determination, and fingers are still pointing between the exchange’s charismatic operator and crypto devs. International heavy law firm Bonelli Erede effectively petitioned to have the exchange remain offline, instituting bankruptcy proceedings, and the Court of Florence recently agreed.

Also read: DOJ Crypto Investigation Tanks Prices, Fundstrat Welcomes Adult Supervision

Bitgrail Shuttered by Court of Florence

“This morning,” a post on the exchange’s website read earlier this month, “following the re-opening, we were notified of a deed by the court of Florence requesting the immediate closure of Bitgrail and this situation will persist until a decision is made by the courts, about the precautionary suspension request made by the Bonelli law office on behalf of a client […] Even though we don’t agree with this decision, we are obliged to respect the law and to suspend any Bitgrail business immediately.”

This week the court indeed made a decision.

Bitgrail Exchange Ordered Down Indefinitely as Italian Court Upholds Halt

“We have temporarily disabled the Bitgrail exchange pending further notice,” came what appears to be a rather final Tweet from, presumably, the embattled exchange operator Franceso Firano on May 2nd. It’s what remains of communication since an injunction was filed to prevent Mr. Firano from reopening. The exchange was halted, temporarily, and that decision was formally upheld as bankruptcy proceedings loom.

Representing more than 3,000 exchange complainants is the international firm Bonelli Erede. Its team is a veritable who-is-who of Italian legal pros: Partner Monica Iacoviello, Giuseppe Sbisà, with assistance from senior associates Gianpaolo Ciervo and Alessandra Frigerio. Nano user and Foundation coordinator Espen Enger has also contributed to efforts.

Bonelli Erede is a two-decades old consortium of sorts, formed from successful firms responding to merger and acquisition pressure at the present century’s turn. The result is a legal powerhouse of over 400 lawyers, half a dozen offices scattered throughout Europe, and revenues of something like €150 million.

Uphill Battle, Especially for Exchange Users

And so it is Mr. Firano facing a colossal uphill battle that might very well be moot at the time of publication. Bitgrail could be relegated to so much toast, burnt … done. It doesn’t help that Mr. Firano, once known as “The Bomber” for his outbursts and ribald commentary, has been radio silent since the beginning of May.

The tone early that day weeks ago was one of optimism, as Mr. Firano floated ways to attempt making looted users whole. The then-latest scheme involved opening the exchange to generate the requisite revenue. And so he attempted to open, announcing he was “pleased to announce the re-open of our exchange! Given the probable overload of servers, it is possible that in the first hours there may be slowdowns in the functionality of the site.”

Bitgrail Exchange Ordered Down Indefinitely as Italian Court Upholds Halt

Mere hours later, the opening was halted pending a more definitive hearing. The Court of Florence in recently upholding that initial stoppage has frozen all assets, tipping off formal bankruptcy proceedings. Typically trustees are appointed to look over books and accounts, and then whatever remains is divvied up according to creditors, victims, etc. The process could take years and yield pennies on the dollar returns. So far, no criminal charges have been filed.

All this suggests Mr. Firano being pushed out, along with his proposals for a new crypto and to have devs roll back the blockchain. The Nano Foundation insists losses were the result of bugs on the exchange side of things, and the Nano project will soldier on.  

Is formal bankruptcy the correct remedy here? Let us know what you think in the comments below.


Images via Pixabay, Twitter.


Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today. 

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There’s a Bitcoin Themed Card Game On Kickstarter Called ‘Bitcon’

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There's a Bitcoin Themed Card Game On Kickstarter Called 'Bitcon'

There’s a new card game called ‘Bitcon’ that’s been introduced on Kickstarter that allows people to experience the cryptocurrency investment fever for amusement and laughs. The strategy game was created by two cryptocurrency investors who were tired of hearing about people doing unbelievable things like selling their home or using their student loan money to go ‘all in’ on a portfolio of digital assets. 

Also read: Project to Build Satoshi Statue Gains Support in Kiev

Win Big or Lose it All Playin ‘Bitcon’

Two guys named Brandon and Sam who call themselves the ‘two stupid investors,’ created a tabletop card game that replicates cryptocurrency investing called ‘Bitcon.’ Basically, players are dealt a hand of five cards each and players draw cards in sequence to find out if the market goes up or down, or maybe even collapse. Alongside cards that move the market, there are also other action cards like the ‘Reverse the Market’ card which changes the direction of the current market trend. There’s also the ‘Cash Out’ card which can enable a player to cash out and cause the next player to pick up the remaining cards. Moreover, each deck of Bitcon cards has three ‘Pop’ cards — a card that serves as market collapse warning and when the last card is used the bitcoin market crashes and the game ends.

There's a Bitcoin Themed Card Game On Kickstarter Called 'Bitcon'

The two creators who designed the Bitcon card game say they kept hearing about individuals doing wild and unbelievable things to obtain bitcoin. Then soon scouring Reddit forums and social media their game concept became an amusing simulation showcasing the risks and rewards tied to cryptocurrency investments.

“If you like fast-paced strategy games, laugh at people that sold their house to buy bitcoin, or simply want to show grandma how to lose all your cash online,” explains the creators of Bitcon.

Buy Bitcon — You’ll soon be addicted to losing all your money.    

There's a Bitcoin Themed Card Game On Kickstarter Called 'Bitcon'

A Representation of What it Feels Like Riding Markets Up and Down

The Bitcon creators say they wanted to create a game that allows the “thrills of being a big money investor with zero risks.” According to the Kickstarter campaign, a Bitcon strategy tournament can be roughly fifteen minutes of gameplay.

“Bitcon is our perfect representation of what it feels like riding markets up and down, using strategy to protect yourself but also attack opponents, and be ready to cash out your position before your investment is fully lost,”

Its 15 minutes of pure strategy, pace, and gambling. Betting addicts we’ve found you a solution.

Bitcon is not the first Kickstarter card game campaign featuring a bitcoin-esque theme as news.Bitcoin.com reported on Bitcoin Empire back in January of 2017. The game featured many cryptocurrency luminaries within the industry and even a Pepe the frog playing card. However, the Bitcoin Empire funding on Kickstarter was unsuccessful as the team didn’t meet the £5,000 goal.  

What do you think about the Bitcon card game? Let us know your thoughts on this subject in the comments below.


Images via the Bitcon Kickstarter campaign.


Did you know Bitcoin.com has an awesome podcast network? Check out the ‘This Week in Bitcoin’ series and ‘Humans of Bitcoin’ by listening to our very own podcast.  

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