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Coinflux, LIDO DAO and Litecoin lead gainers as uncertainties persist in the coin market
Tuesday, May 16, 2023 saw Bitcoin make a modest gain of 1.37% at a time that LIDO, Litecoin and Coinflux led gains among the most capitalized coins. LIDO, which has been one of the most consistent tokens in the past months gained 3.5% in the past 24 hours, pushing its market price to $2.19. On the 7-day chart, the token has gained 16.3%. Today’s performance followed the conclusion of voting…
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Transnistria Welcomes Crypto Miners, Plans to Expand the Industry
The government of Transnistria has recognized the importance of cryptocurrency mining for the territory’s economy and budget. The unrecognized republic in Eastern Moldova now plans to expand the industry by attracting more miners with a crypto-friendly business climate and favorable regulations.
Also read: CEO of Romanian Exchange Coinflux Arrested on US Warrant
Tiraspol Plans for 100 MW of Mining Capacity
Earlier this year, the Pridnestrovian Moldavian Republic (PMR) adopted legislation that legalized crypto mining and provided incentives for foreign investors to set up mining farms within its borders. Under its provisions, a free economic zone was established for these companies and authorities promised to provide the necessary infrastructure, including unrestricted access to the Transnistrian electrical grid.
The new law “On the development of information blockchain-technologies in the PMR” also allowed tariff-free imports of mining equipment and exempted mining incomes from taxation. As a result, facilities with a total consumption of between 5 and 7 MW of electricity are now operating in the country.
But the government in Tiraspol doesn’t want to stop there. According to its prime minister, Transnistria plans to increase that number to 100 MW and has already managed to secure the needed investments. In an interview recently broadcasted by two local TV channels, Aleksandr Martynov stated:
We adopted a fairly liberal law that stimulates mining activities in Transnistria. We also isolated them from our tax system.
The head of the executive power further emphasized that Pridnestrovian authorities do not exercise any control over the revenues from the production of cryptocurrencies and don’t claim any portion of the income generated by entities that operate mining facilities. He added that the main goal set by the government is to sell more electricity to the bitcoin farms, and Transnistria can offer a lot of it at a low price.
Miners Utilize Excess Generating Capacity
The largest producer of electricity in the region is the Russian-owned Moldavskaya GRES, a thermal power station built on the shores of Lake Kuchurgan on the Ukrainian border. It has an installed capacity of 2,520 MW. The station burns mainly Russian natural gas which the self-proclaimed republic does not even pay.
The fuel is billed to Moldova which claims sovereignty over the separatist territory in a frozen conflict with the government in Tiraspol that dates back to the dissolution of the Soviet Union in the early 1990s. The $6 billion of money owed by the Kuchurgan power station are considered part of Moldova’s debt to the Russian supplier, Gazprom.
Cryptocurrency miners help to utilize the excess capacity of the power plant. And more mining farms means higher revenues for the station, which translates into increased budget receipts for Transnistria, Prime Minister Martynov explained. He added that the projected income, which he described as significant, has already been included in PMR’s draft budget for the next year.
What do you think of Transnistria’s policies towards the crypto mining industry? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock.
Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.
The post Transnistria Welcomes Crypto Miners, Plans to Expand the Industry appeared first on Bitcoin News.
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XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market
On a weekly basis, XRP lags and is up one percent in the same time frame. This comes at the backdrop of FUDs and talk of SEC anticipated clarification of XRP. Despite all, XRP is still trading above key support lines. It is likely that weekend’s price action would shape the short to medium term trajectory of this coin.
From the News
The sore, iterative and tired debate of whether XRP is a security or a utility is quickly degenerating into drivel. If anything, ordinary investors don’t care about SEC position. XRP traders on the other hand are after playing the market and are always angling to clip some profits. Of course, SEC oversight on cryptocurrencies-an emergent and a complex market-is but welcomed. This is solely because of the inherent architecture and unregulated nature of cryptocurrencies in general.
Overly though, what commentators will argue is about the utility of XRP and the number of companies that are currently using the technology to improve on efficiency. That cannot be overstated and while we understand how SEC comments on the coin will always be that dark shadow, it is way better to look into the medium term and bask in the glory that BTC resurgence is tagging along with.
Anyhow, Brad Garlinghouse, the CEO of Ripple the company said the XRP-BTC coupling will probably take years before it wears off. Therefore, as long as BTC is trending, XRP shall closely follow suit.
By popular demand, we have added @Ripple trading on CoinFlux. In order to buy/sell @Ripple via CoinFlux you’ll need an active account. And, as always, our helpful colleagues from Customer Support are online to assist you for any inquiries you might have.https://t.co/dGKU0lHeRm pic.twitter.com/UOScfVvkjQ
— CoinFlux (@CoinFlux) July 19, 2018
After all, there are numerous channels of buying or trading with XRP. Most recently, CoinFlux announced their support of XRP. Initially, this Cluj based cryptocurrency exchange focused on ETH and BTC but considering the demand, XRP had to be an addition.
XRP Technical Analysis
Weekly Chart
XRP Weekly Chart By Trading View
Regardless of the general crypto market revival, XRP sellers are determined to clip this week’s gain. So far, we have this bear pin bar right at the 45 cents main support line printing despite our bullish stand.
Now, for that position to hold true then we might see rejection of lower lowers and that means XRP must print above 45 cents and ideally reverse July 18-20 losses. If not and there is a convincing close below 45 cents then next week we shall initiate shorts with targets at 15 cents.
Daily Chart
XRP Daily Chart By Trading View
In any case, XRP is moving within a 10 cent trade range with buy triggers at 55 cents and main support at 45 cents. Because of July 16 and 17 higher highs, we remain bullish despite the low volume accompanying that thrust. As we have mentioned above, should we see sellers driving prices to 45 cents, then my suggestion is to short on pull backs with stops at 50 cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market appeared first on NewsBTC.
XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market published first on https://medium.com/@smartoptions
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XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market
On a weekly basis, XRP lags and is up one percent in the same time frame. This comes at the backdrop of FUDs and talk of SEC anticipated clarification of XRP. Despite all, XRP is still trading above key support lines. It is likely that weekend’s price action would shape the short to medium term trajectory of this coin.
From the News
The sore, iterative and tired debate of whether XRP is a security or a utility is quickly degenerating into drivel. If anything, ordinary investors don’t care about SEC position. XRP traders on the other hand are after playing the market and are always angling to clip some profits. Of course, SEC oversight on cryptocurrencies-an emergent and a complex market-is but welcomed. This is solely because of the inherent architecture and unregulated nature of cryptocurrencies in general.
Overly though, what commentators will argue is about the utility of XRP and the number of companies that are currently using the technology to improve on efficiency. That cannot be overstated and while we understand how SEC comments on the coin will always be that dark shadow, it is way better to look into the medium term and bask in the glory that BTC resurgence is tagging along with.
Anyhow, Brad Garlinghouse, the CEO of Ripple the company said the XRP-BTC coupling will probably take years before it wears off. Therefore, as long as BTC is trending, XRP shall closely follow suit.
By popular demand, we have added @Ripple trading on CoinFlux. In order to buy/sell @Ripple via CoinFlux you’ll need an active account. And, as always, our helpful colleagues from Customer Support are online to assist you for any inquiries you might have.https://t.co/dGKU0lHeRm pic.twitter.com/UOScfVvkjQ
— CoinFlux (@CoinFlux) July 19, 2018
After all, there are numerous channels of buying or trading with XRP. Most recently, CoinFlux announced their support of XRP. Initially, this Cluj based cryptocurrency exchange focused on ETH and BTC but considering the demand, XRP had to be an addition.
XRP Technical Analysis
Weekly Chart
XRP Weekly Chart By Trading View
Regardless of the general crypto market revival, XRP sellers are determined to clip this week’s gain. So far, we have this bear pin bar right at the 45 cents main support line printing despite our bullish stand.
Now, for that position to hold true then we might see rejection of lower lowers and that means XRP must print above 45 cents and ideally reverse July 18-20 losses. If not and there is a convincing close below 45 cents then next week we shall initiate shorts with targets at 15 cents.
Daily Chart
XRP Daily Chart By Trading View
In any case, XRP is moving within a 10 cent trade range with buy triggers at 55 cents and main support at 45 cents. Because of July 16 and 17 higher highs, we remain bullish despite the low volume accompanying that thrust. As we have mentioned above, should we see sellers driving prices to 45 cents, then my suggestion is to short on pull backs with stops at 50 cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market appeared first on NewsBTC.
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XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market
On a weekly basis, XRP lags and is up one percent in the same time frame. This comes at the backdrop of FUDs and talk of SEC anticipated clarification of XRP. Despite all, XRP is still trading above key support lines. It is likely that weekend’s price action would shape the short to medium term trajectory of this coin.
From the News
The sore, iterative and tired debate of whether XRP is a security or a utility is quickly degenerating into drivel. If anything, ordinary investors don’t care about SEC position. XRP traders on the other hand are after playing the market and are always angling to clip some profits. Of course, SEC oversight on cryptocurrencies-an emergent and a complex market-is but welcomed. This is solely because of the inherent architecture and unregulated nature of cryptocurrencies in general.
Overly though, what commentators will argue is about the utility of XRP and the number of companies that are currently using the technology to improve on efficiency. That cannot be overstated and while we understand how SEC comments on the coin will always be that dark shadow, it is way better to look into the medium term and bask in the glory that BTC resurgence is tagging along with.
Anyhow, Brad Garlinghouse, the CEO of Ripple the company said the XRP-BTC coupling will probably take years before it wears off. Therefore, as long as BTC is trending, XRP shall closely follow suit.
By popular demand, we have added @Ripple trading on CoinFlux. In order to buy/sell @Ripple via CoinFlux you’ll need an active account. And, as always, our helpful colleagues from Customer Support are online to assist you for any inquiries you might have.https://t.co/dGKU0lHeRm pic.twitter.com/UOScfVvkjQ
— CoinFlux (@CoinFlux) July 19, 2018
After all, there are numerous channels of buying or trading with XRP. Most recently, CoinFlux announced their support of XRP. Initially, this Cluj based cryptocurrency exchange focused on ETH and BTC but considering the demand, XRP had to be an addition.
XRP Technical Analysis
Weekly Chart
XRP Weekly Chart By Trading View
Regardless of the general crypto market revival, XRP sellers are determined to clip this week’s gain. So far, we have this bear pin bar right at the 45 cents main support line printing despite our bullish stand.
Now, for that position to hold true then we might see rejection of lower lowers and that means XRP must print above 45 cents and ideally reverse July 18-20 losses. If not and there is a convincing close below 45 cents then next week we shall initiate shorts with targets at 15 cents.
Daily Chart
XRP Daily Chart By Trading View
In any case, XRP is moving within a 10 cent trade range with buy triggers at 55 cents and main support at 45 cents. Because of July 16 and 17 higher highs, we remain bullish despite the low volume accompanying that thrust. As we have mentioned above, should we see sellers driving prices to 45 cents, then my suggestion is to short on pull backs with stops at 50 cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market appeared first on NewsBTC.
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Text
XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market
On a weekly basis, XRP lags and is up one percent in the same time frame. This comes at the backdrop of FUDs and talk of SEC anticipated clarification of XRP. Despite all, XRP is still trading above key support lines. It is likely that weekend’s price action would shape the short to medium term trajectory of this coin.
From the News
The sore, iterative and tired debate of whether XRP is a security or a utility is quickly degenerating into drivel. If anything, ordinary investors don’t care about SEC position. XRP traders on the other hand are after playing the market and are always angling to clip some profits. Of course, SEC oversight on cryptocurrencies-an emergent and a complex market-is but welcomed. This is solely because of the inherent architecture and unregulated nature of cryptocurrencies in general.
Overly though, what commentators will argue is about the utility of XRP and the number of companies that are currently using the technology to improve on efficiency. That cannot be overstated and while we understand how SEC comments on the coin will always be that dark shadow, it is way better to look into the medium term and bask in the glory that BTC resurgence is tagging along with.
Anyhow, Brad Garlinghouse, the CEO of Ripple the company said the XRP-BTC coupling will probably take years before it wears off. Therefore, as long as BTC is trending, XRP shall closely follow suit.
By popular demand, we have added @Ripple trading on CoinFlux. In order to buy/sell @Ripple via CoinFlux you’ll need an active account. And, as always, our helpful colleagues from Customer Support are online to assist you for any inquiries you might have.https://t.co/dGKU0lHeRm pic.twitter.com/UOScfVvkjQ
— CoinFlux (@CoinFlux) July 19, 2018
After all, there are numerous channels of buying or trading with XRP. Most recently, CoinFlux announced their support of XRP. Initially, this Cluj based cryptocurrency exchange focused on ETH and BTC but considering the demand, XRP had to be an addition.
XRP Technical Analysis
Weekly Chart
XRP Weekly Chart By Trading View
Regardless of the general crypto market revival, XRP sellers are determined to clip this week’s gain. So far, we have this bear pin bar right at the 45 cents main support line printing despite our bullish stand.
Now, for that position to hold true then we might see rejection of lower lowers and that means XRP must print above 45 cents and ideally reverse July 18-20 losses. If not and there is a convincing close below 45 cents then next week we shall initiate shorts with targets at 15 cents.
Daily Chart
XRP Daily Chart By Trading View
In any case, XRP is moving within a 10 cent trade range with buy triggers at 55 cents and main support at 45 cents. Because of July 16 and 17 higher highs, we remain bullish despite the low volume accompanying that thrust. As we have mentioned above, should we see sellers driving prices to 45 cents, then my suggestion is to short on pull backs with stops at 50 cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post XRP Technical Analysis: Spike in XRP FUDs Signals a Bottoming Market appeared first on NewsBTC.
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Coinflux Cryptocurrency Exchange Founder Extradited to the U.S. for Money Laundering
Coinflux Cryptocurrency Exchange Founder Extradited to the U.S. for Money Laundering
Nistor Vlad Călin, the CEO of the cryptocurrency exchange Coinflux, has been extradited to the U.S. by Romania’s supreme court for a case of money laundering on his platform, reports Mediafax on January 4, 2018.
U.S. Secret Service Files Charges Against CoinFlux’s CEO
Per sourcesclose to the matter, Nistor Vlad Călin, a 29-year-old businessman was charged by the U.S. secret service in December…
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#Altcoin#altcoins#BCH#Bitcoin#Bitcoin Cash#Bitcoin News#Bitcoin Price#btc#Business#coin#Coinflux#Crypto#Cryptocurrencies#Cryptocurrency#Cryptocurrency Exchange#Dash#EOS#ETH#Ethereum#Exchange#Investment#Monero#Money Laundering#nairaland#News#price#Regulation#Regulations#ripple#Romania
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Economy & Regulation
The government of Transnistria has recognized the importance of cryptocurrency mining for the territory’s economy and budget. The unrecognized republic in Eastern Moldova now plans to expand the industry by attracting more miners with a crypto-friendly business climate and favorable regulations.
Also read: CEO of Romanian Exchange Coinflux Arrested on US Warrant
Tiraspol Plans for 100 MW of Mining Capacity
Earlier this year, the Pridnestrovian Moldavian Republic (PMR) adopted legislation that legalized crypto mining and provided incentives for foreign investors to set up mining farms within its borders. Under its provisions, a free economic zone was established for these companies and authorities promised to provide the necessary infrastructure, including unrestricted access to the Transnistrian electrical grid.
The new law “On the development of information blockchain-technologies in the PMR” also allowed tariff-free imports of mining equipment and exempted mining incomes from taxation. As a result, facilities with a total consumption of between 5 and 7 MW of electricity are now operating in the country.
But the government in Tiraspol doesn’t want to stop there. According to its prime minister, Transnistria plans to increase that number to 100 MW and has already managed to secure the needed investments. In an interview recently broadcasted by two local TV channels, Aleksandr Martynov stated:
We adopted a fairly liberal law that stimulates mining activities in Transnistria. We also isolated them from our tax system.
The head of the executive power further emphasized that Pridnestrovian authorities do not exercise any control over the revenues from the production of cryptocurrencies and don’t claim any portion of the income generated by entities that operate mining facilities. He added that the main goal set by the government is to sell more electricity to the bitcoin farms, and Transnistria can offer a lot of it at a low price.
Miners Utilize Excess Generating Capacity
The largest producer of electricity in the region is the Russian-owned Moldavskaya GRES, a thermal power station built on the shores of Lake Kuchurgan on the Ukrainian border. It has an installed capacity of 2,520 MW. The station burns mainly Russian natural gas which the self-proclaimed republic does not even pay.
The fuel is billed to Moldova which claims sovereignty over the separatist territory in a frozen conflict with the government in Tiraspol that dates back to the dissolution of the Soviet Union in the early 1990s. The $6 billion of money owed by the Kuchurgan power station are considered part of Moldova’s debt to the Russian supplier, Gazprom.
Cryptocurrency miners help to utilize the excess capacity of the power plant. And more mining farms means higher revenues for the station, which translates into increased budget receipts for Transnistria, Prime Minister Martynov explained. He added that the projected income, which he described as significant, has already been included in PMR’s draft budget for the next year.
What do you think of Transnistria’s policies towards the crypto mining industry? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock.
Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.
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Transnistria Welcomes Crypto Miners, Plans to Expand the Industry
Economy & Regulation The executive of Transnistria has known the significance of cryptocurrency mining for the territory’s financial system and price range. The unrecognized republic in Eastern Moldova now plans to extend the trade through attracting extra miners with a crypto-friendly trade local weather and favorable rules. Also learn: CEO of Romanian Exchange Coinflux…
Transnistria Welcomes Crypto Miners, Plans to Expand the Industry was originally published on Daily Cryptocurrency News
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Romania Bitcoin Exchange CoinFlux Halts Activities after CEO’s Arrest/ bitseven,bitcoin exchange,Cryptocurrency exchange,FX Margin, bitcoin exchange, bitcoin margin trading, bitcoin price,etf bitcoin
CCN recently reported on the case of CoinFlux CEO Vlad Nistor. The Romanian bitcoin exchange executive has been arrested on suspicion of money laundering and other crimes and is currently fighting extradition to the United States. Earlier this week, CoinFlux posted to Medium.com to inform followers that they are unable to access parts of their platform including those which would allow them to deliver information in the usual way. “Another unpleasant consequence of the investigation is the fact that our access to some parts of our platform has been restricted, thus we are unable to send this announcement through the usual communication channels: e-mail and website. Our expectation is that we will gain control back, within the next days.” They said at the time that they were working to regain access to exchange funds so they could determine what the next course of action would be. Currently, they remain legally disallowed from doing any sort of cryptocurrency exchanges. Exchange Returning All Funds, Might be Shutting Down Saturday, the exchange posted another update. In this update ,they said that they are working with the financial institution who manages all of their bank accounts, MisterTango, to have all funds returned to clients. The wording of the update is unclear, in that it says: “We’ve sent MisterTango (the Financial Institution hosting our frozen bank account) a list of people who have money blocked in CoinFlux wallets, as well as the exact associated balances, and the instruction to transfer those funds back into the clients’ bank account.” As any reader knows, crypto balances are not held by banks. Thus, the post does not seem to address crypto funds held in the exchange’s wallets, but fiat. They have not yet issued an announcement about how and when they intend to return client crypto balances. As we said, in the Thursday post they mentioned that they were unable to use their platform for legal reasons. The case against Vlad Nistor centers on activities of Romanian scammers in 2014 and 2015. He is alleged to have actively helped scammers via Telegram in disposing of their ill-begotten gains. This would involve the conversion of knowingly stolen funds for cryptocurrencies. The crypto gains from then to now would be substantial, 2015 being a downturn year for Bitcoin. The number of affected individuals in this situation is likely low, as the volume is so minor that places like CoinMarketCap.com, which lists hundreds of small exchanges, does not even report CoinFlux volume - bitseven.com.
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Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Several Notches Above Ransomware
An extortion scheme which sought to terrorize people into paying over BTC made global headlines over the course of the week. The threats happened worldwide, at a minimum being reported in the US, New Zealand, and Australia. The bomb threats demanded $20,000 in BTC in exchange for the terrorists to “give the command to my person to get away.” At least one address used in such schemes has to date received absolutely nothing, and there are no reports of anyone actually being injured as a result of failure to pay the ransom.
So I actually just got a bomb threat in my work email today ordering me to send the person $20,000 via bitcoin or they will blow up my place of work…. 2018 is wild pic.twitter.com/sn0vVLwe6v
— Ryan William Grant (@TheeRyanGrant) December 13, 2018
In related news, a “sextortion” scheme has been ongoing, seducing people into forcefully installing ransomware on their devices, ultimately forcing them to pay BTC or lose access to their data.
Romanian Bitcoin Exchange CoinFlux Sees Its CEO Arrested, Wanted for Extradition to the US
CCN broke the story of Vlad Nistor in the English speaking world. Nistor is the CEO and founder of a Romanian Bitcoin exchange called CoinFlux and is accused of having helped Romanian phishing scam artists – who actually traveled to the US as part of their scams in 2014 and 2015 – wash the proceeds of their scams in cryptocurrency when the exchange was just getting started up.
AriseBank CEO Settles SEC Charges
On the subject of scammers, Jared Rice, Sr., the CEO of the ICO-backed AriseBank scam has settled all charges with the SEC, amounting to well over $2 million fines and restitution. His criminal case is still pending.
Bitcoin Cash Bears In A Frenzy
For the first time ever this week, Bitcoin Cash saw a lower valuation than Ethereum. Ethereum itself is struggling on several fronts, the market being perhaps the least important to long-term bulls in the token platform. Actual dApp usage on the platform is incredibly low overall. We also reported this week how Tron, an alternative smart contract platform with a base token valued well under $1, saw more than a million transactions per day in its own dApps, indicating a growing demand for the token and its applications.
Bitcoin Cash ABC, the fork that retained the BCH ticker across exchanges, continues to plummet in value with no end in sight. Erstwhile, the other side of the fork, Bitcoin SV, seems to stay just behind BCH in price, the two being valued at $82 and $77 respectively on Saturday night. The continuing lack of confidence in Bitcoin Cash as a whole might be related to such things as lawsuits alleging overt centralization in addition to the general frigid atmosphere surrounding cryptos amid regulatory moves and prosecutions.
Coinbase Integrates Paypal
Coinbase users no longer need a traditional bank account to withdraw proceeds from Coinbase trades. They can withdraw to a Paypal account as of Friday. According to CCN writer Samantha Cheng:
Before, you needed an ACH (automated clearing house) or federal wire account to withdraw funds from your Coinbase account. And it could take up to two business days for the transaction to clear.
The only thing missing now is PayPal deposits, which are still not available, meaning that customers must use at a minimum a Debit or Credit Card to fund their account. The unbanked stay unbanked if they use Coinbase, at least for now.
Porsche Uses Blockchain to Arrange $170 Million Loan
Porsche wanted a loan to conduct a targeted acquisition, and according to CCN’s Melanie Kramer, they recently used BBVA’s blockchain products to do so:
Acquisition term loans are provided for a specific purpose and period. In this case, Porsche Holding Salzburg, a subsidiary of Volkswagen AG, is seeking to expand its retail distribution network in Europe and Asia.
The pilot also makes Porsche, still the largest automotive distributor in Europe, the first non-Spanish borrower to use BBVA DLT to negotiate and close a corporate loan.
BBVA has conducted other loans using its blockchain infrastructure in the recent past.
African Militants Use ERC-20 Token As Official Currency
A group of Camaroon separatists who are working to establish what they called “Ambazonia,” have created AmbaCoin, an ERC-20 token that they tout as their official currency.
CCN’s David Hundeyin reported that there were still some unanswered questions about AmbaCoin:
As is the case with the Petro, it is currently unclear how the natural resources and projected earnings that give it value will be quantified and calculated, and it is also unclear how the said resources will be harnessed given that the Cameroonian military still maintains control of Southern Cameroon.
At time of writing, they were still selling the tokens for 25 cents US each to raise funds.
Featured image from Shutterstock.
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Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Several Notches Above Ransomware
An extortion scheme which sought to terrorize people into paying over BTC made global headlines over the course of the week. The threats happened worldwide, at a minimum being reported in the US, New Zealand, and Australia. The bomb threats demanded $20,000 in BTC in exchange for the terrorists to “give the command to my person to get away.” At least one address used in such schemes has to date received absolutely nothing, and there are no reports of anyone actually being injured as a result of failure to pay the ransom.
So I actually just got a bomb threat in my work email today ordering me to send the person $20,000 via bitcoin or they will blow up my place of work…. 2018 is wild pic.twitter.com/sn0vVLwe6v
— Ryan William Grant (@TheeRyanGrant) December 13, 2018
In related news, a “sextortion” scheme has been ongoing, seducing people into forcefully installing ransomware on their devices, ultimately forcing them to pay BTC or lose access to their data.
Romanian Bitcoin Exchange CoinFlux Sees Its CEO Arrested, Wanted for Extradition to the US
CCN broke the story of Vlad Nistor in the English speaking world. Nistor is the CEO and founder of a Romanian Bitcoin exchange called CoinFlux and is accused of having helped Romanian phishing scam artists – who actually traveled to the US as part of their scams in 2014 and 2015 – wash the proceeds of their scams in cryptocurrency when the exchange was just getting started up.
AriseBank CEO Settles SEC Charges
On the subject of scammers, Jared Rice, Sr., the CEO of the ICO-backed AriseBank scam has settled all charges with the SEC, amounting to well over $2 million fines and restitution. His criminal case is still pending.
Bitcoin Cash Bears In A Frenzy
For the first time ever this week, Bitcoin Cash saw a lower valuation than Ethereum. Ethereum itself is struggling on several fronts, the market being perhaps the least important to long-term bulls in the token platform. Actual dApp usage on the platform is incredibly low overall. We also reported this week how Tron, an alternative smart contract platform with a base token valued well under $1, saw more than a million transactions per day in its own dApps, indicating a growing demand for the token and its applications.
Bitcoin Cash ABC, the fork that retained the BCH ticker across exchanges, continues to plummet in value with no end in sight. Erstwhile, the other side of the fork, Bitcoin SV, seems to stay just behind BCH in price, the two being valued at $82 and $77 respectively on Saturday night. The continuing lack of confidence in Bitcoin Cash as a whole might be related to such things as lawsuits alleging overt centralization in addition to the general frigid atmosphere surrounding cryptos amid regulatory moves and prosecutions.
Coinbase Integrates Paypal
Coinbase users no longer need a traditional bank account to withdraw proceeds from Coinbase trades. They can withdraw to a Paypal account as of Friday. According to CCN writer Samantha Cheng:
Before, you needed an ACH (automated clearing house) or federal wire account to withdraw funds from your Coinbase account. And it could take up to two business days for the transaction to clear.
The only thing missing now is PayPal deposits, which are still not available, meaning that customers must use at a minimum a Debit or Credit Card to fund their account. The unbanked stay unbanked if they use Coinbase, at least for now.
Porsche Uses Blockchain to Arrange $170 Million Loan
Porsche wanted a loan to conduct a targeted acquisition, and according to CCN’s Melanie Kramer, they recently used BBVA’s blockchain products to do so:
Acquisition term loans are provided for a specific purpose and period. In this case, Porsche Holding Salzburg, a subsidiary of Volkswagen AG, is seeking to expand its retail distribution network in Europe and Asia.
The pilot also makes Porsche, still the largest automotive distributor in Europe, the first non-Spanish borrower to use BBVA DLT to negotiate and close a corporate loan.
BBVA has conducted other loans using its blockchain infrastructure in the recent past.
African Militants Use ERC-20 Token As Official Currency
A group of Camaroon separatists who are working to establish what they called “Ambazonia,” have created AmbaCoin, an ERC-20 token that they tout as their official currency.
CCN’s David Hundeyin reported that there were still some unanswered questions about AmbaCoin:
As is the case with the Petro, it is currently unclear how the natural resources and projected earnings that give it value will be quantified and calculated, and it is also unclear how the said resources will be harnessed given that the Cameroonian military still maintains control of Southern Cameroon.
At time of writing, they were still selling the tokens for 25 cents US each to raise funds.
Featured image from Shutterstock.
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Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Several Notches Above Ransomware
An extortion scheme which sought to terrorize people into paying over BTC made global headlines over the course of the week. The threats happened worldwide, at a minimum being reported in the US, New Zealand, and Australia. The bomb threats demanded $20,000 in BTC in exchange for the terrorists to “give the command to my person to get away.” At least one address used in such schemes has to date received absolutely nothing, and there are no reports of anyone actually being injured as a result of failure to pay the ransom.
So I actually just got a bomb threat in my work email today ordering me to send the person $20,000 via bitcoin or they will blow up my place of work…. 2018 is wild pic.twitter.com/sn0vVLwe6v
— Ryan William Grant (@TheeRyanGrant) December 13, 2018
In related news, a “sextortion” scheme has been ongoing, seducing people into forcefully installing ransomware on their devices, ultimately forcing them to pay BTC or lose access to their data.
Romanian Bitcoin Exchange CoinFlux Sees Its CEO Arrested, Wanted for Extradition to the US
CCN broke the story of Vlad Nistor in the English speaking world. Nistor is the CEO and founder of a Romanian Bitcoin exchange called CoinFlux and is accused of having helped Romanian phishing scam artists – who actually traveled to the US as part of their scams in 2014 and 2015 – wash the proceeds of their scams in cryptocurrency when the exchange was just getting started up.
AriseBank CEO Settles SEC Charges
On the subject of scammers, Jared Rice, Sr., the CEO of the ICO-backed AriseBank scam has settled all charges with the SEC, amounting to well over $2 million fines and restitution. His criminal case is still pending.
Bitcoin Cash Bears In A Frenzy
For the first time ever this week, Bitcoin Cash saw a lower valuation than Ethereum. Ethereum itself is struggling on several fronts, the market being perhaps the least important to long-term bulls in the token platform. Actual dApp usage on the platform is incredibly low overall. We also reported this week how Tron, an alternative smart contract platform with a base token valued well under $1, saw more than a million transactions per day in its own dApps, indicating a growing demand for the token and its applications.
Bitcoin Cash ABC, the fork that retained the BCH ticker across exchanges, continues to plummet in value with no end in sight. Erstwhile, the other side of the fork, Bitcoin SV, seems to stay just behind BCH in price, the two being valued at $82 and $77 respectively on Saturday night. The continuing lack of confidence in Bitcoin Cash as a whole might be related to such things as lawsuits alleging overt centralization in addition to the general frigid atmosphere surrounding cryptos amid regulatory moves and prosecutions.
Coinbase Integrates Paypal
Coinbase users no longer need a traditional bank account to withdraw proceeds from Coinbase trades. They can withdraw to a Paypal account as of Friday. According to CCN writer Samantha Cheng:
Before, you needed an ACH (automated clearing house) or federal wire account to withdraw funds from your Coinbase account. And it could take up to two business days for the transaction to clear.
The only thing missing now is PayPal deposits, which are still not available, meaning that customers must use at a minimum a Debit or Credit Card to fund their account. The unbanked stay unbanked if they use Coinbase, at least for now.
Porsche Uses Blockchain to Arrange $170 Million Loan
Porsche wanted a loan to conduct a targeted acquisition, and according to CCN’s Melanie Kramer, they recently used BBVA’s blockchain products to do so:
Acquisition term loans are provided for a specific purpose and period. In this case, Porsche Holding Salzburg, a subsidiary of Volkswagen AG, is seeking to expand its retail distribution network in Europe and Asia.
The pilot also makes Porsche, still the largest automotive distributor in Europe, the first non-Spanish borrower to use BBVA DLT to negotiate and close a corporate loan.
BBVA has conducted other loans using its blockchain infrastructure in the recent past.
African Militants Use ERC-20 Token As Official Currency
A group of Camaroon separatists who are working to establish what they called “Ambazonia,” have created AmbaCoin, an ERC-20 token that they tout as their official currency.
CCN’s David Hundeyin reported that there were still some unanswered questions about AmbaCoin:
As is the case with the Petro, it is currently unclear how the natural resources and projected earnings that give it value will be quantified and calculated, and it is also unclear how the said resources will be harnessed given that the Cameroonian military still maintains control of Southern Cameroon.
At time of writing, they were still selling the tokens for 25 cents US each to raise funds.
Featured image from Shutterstock.
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Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Bitcoin Bomb Threats, Romanian Fraud Arrests, Bitcoin Cash Continues to Plummet, Coinbase Integrates Paypal and More: This Week in Crypto
Several Notches Above Ransomware
An extortion scheme which sought to terrorize people into paying over BTC made global headlines over the course of the week. The threats happened worldwide, at a minimum being reported in the US, New Zealand, and Australia. The bomb threats demanded $20,000 in BTC in exchange for the terrorists to “give the command to my person to get away.” At least one address used in such schemes has to date received absolutely nothing, and there are no reports of anyone actually being injured as a result of failure to pay the ransom.
So I actually just got a bomb threat in my work email today ordering me to send the person $20,000 via bitcoin or they will blow up my place of work…. 2018 is wild pic.twitter.com/sn0vVLwe6v
— Ryan William Grant (@TheeRyanGrant) December 13, 2018
In related news, a “sextortion” scheme has been ongoing, seducing people into forcefully installing ransomware on their devices, ultimately forcing them to pay BTC or lose access to their data.
Romanian Bitcoin Exchange CoinFlux Sees Its CEO Arrested, Wanted for Extradition to the US
CCN broke the story of Vlad Nistor in the English speaking world. Nistor is the CEO and founder of a Romanian Bitcoin exchange called CoinFlux and is accused of having helped Romanian phishing scam artists – who actually traveled to the US as part of their scams in 2014 and 2015 – wash the proceeds of their scams in cryptocurrency when the exchange was just getting started up.
AriseBank CEO Settles SEC Charges
On the subject of scammers, Jared Rice, Sr., the CEO of the ICO-backed AriseBank scam has settled all charges with the SEC, amounting to well over $2 million fines and restitution. His criminal case is still pending.
Bitcoin Cash Bears In A Frenzy
For the first time ever this week, Bitcoin Cash saw a lower valuation than Ethereum. Ethereum itself is struggling on several fronts, the market being perhaps the least important to long-term bulls in the token platform. Actual dApp usage on the platform is incredibly low overall. We also reported this week how Tron, an alternative smart contract platform with a base token valued well under $1, saw more than a million transactions per day in its own dApps, indicating a growing demand for the token and its applications.
Bitcoin Cash ABC, the fork that retained the BCH ticker across exchanges, continues to plummet in value with no end in sight. Erstwhile, the other side of the fork, Bitcoin SV, seems to stay just behind BCH in price, the two being valued at $82 and $77 respectively on Saturday night. The continuing lack of confidence in Bitcoin Cash as a whole might be related to such things as lawsuits alleging overt centralization in addition to the general frigid atmosphere surrounding cryptos amid regulatory moves and prosecutions.
Coinbase Integrates Paypal
Coinbase users no longer need a traditional bank account to withdraw proceeds from Coinbase trades. They can withdraw to a Paypal account as of Friday. According to CCN writer Samantha Cheng:
Before, you needed an ACH (automated clearing house) or federal wire account to withdraw funds from your Coinbase account. And it could take up to two business days for the transaction to clear.
The only thing missing now is PayPal deposits, which are still not available, meaning that customers must use at a minimum a Debit or Credit Card to fund their account. The unbanked stay unbanked if they use Coinbase, at least for now.
Porsche Uses Blockchain to Arrange $170 Million Loan
Porsche wanted a loan to conduct a targeted acquisition, and according to CCN’s Melanie Kramer, they recently used BBVA’s blockchain products to do so:
Acquisition term loans are provided for a specific purpose and period. In this case, Porsche Holding Salzburg, a subsidiary of Volkswagen AG, is seeking to expand its retail distribution network in Europe and Asia.
The pilot also makes Porsche, still the largest automotive distributor in Europe, the first non-Spanish borrower to use BBVA DLT to negotiate and close a corporate loan.
BBVA has conducted other loans using its blockchain infrastructure in the recent past.
African Militants Use ERC-20 Token As Official Currency
A group of Camaroon separatists who are working to establish what they called “Ambazonia,” have created AmbaCoin, an ERC-20 token that they tout as their official currency.
CCN’s David Hundeyin reported that there were still some unanswered questions about AmbaCoin:
As is the case with the Petro, it is currently unclear how the natural resources and projected earnings that give it value will be quantified and calculated, and it is also unclear how the said resources will be harnessed given that the Cameroonian military still maintains control of Southern Cameroon.
At time of writing, they were still selling the tokens for 25 cents US each to raise funds.
Featured image from Shutterstock.
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XRP Technical Analysis
On a weekly basis, XRP lags and is up one percent in the same time frame. This comes at the backdrop of FUDs and talk of SEC anticipated clarification of XRP. Despite all, XRP is still trading above key support lines. It is likely that weekend’s price action would shape the short to medium term trajectory of this coin.
From the News
The sore, iterative and tired debate of whether XRP is a security or a utility is quickly degenerating into drivel. If anything, ordinary investors don’t care about SEC position. XRP traders on the other hand are after playing the market and are always angling to clip some profits. Of course, SEC oversight on cryptocurrencies-an emergent and a complex market-is but welcomed. This is solely because of the inherent architecture and unregulated nature of cryptocurrencies in general.
Overly though, what commentators will argue is about the utility of XRP and the number of companies that are currently using the technology to improve on efficiency. That cannot be overstated and while we understand how SEC comments on the coin will always be that dark shadow, it is way better to look into the medium term and bask in the glory that BTC resurgence is tagging along with.
Anyhow, Brad Garlinghouse, the CEO of Ripple the company said the XRP-BTC coupling will probably take years before it wears off. Therefore, as long as BTC is trending, XRP shall closely follow suit.
By popular demand, we have added @Ripple trading on CoinFlux. In order to buy/sell @Ripple via CoinFlux you’ll need an active account. And, as always, our helpful colleagues from Customer Support are online to assist you for any inquiries you might have.https://t.co/dGKU0lHeRm pic.twitter.com/UOScfVvkjQ
— CoinFlux (@CoinFlux) July 19, 2018
After all, there are numerous channels of buying or trading with XRP. Most recently, CoinFlux announced their support of XRP. Initially, this Cluj based cryptocurrency exchange focused on ETH and BTC but considering the demand, XRP had to be an addition.
XRP Technical Analysis
Weekly Chart
XRP Weekly Chart By Trading View
Regardless of the general crypto market revival, XRP sellers are determined to clip this week’s gain. So far, we have this bear pin bar right at the 45 cents main support line printing despite our bullish stand.
Now, for that position to hold true then we might see rejection of lower lowers and that means XRP must print above 45 cents and ideally reverse July 18-20 losses. If not and there is a convincing close below 45 cents then next week we shall initiate shorts with targets at 15 cents.
Daily Chart
XRP Daily Chart By Trading View
In any case, XRP is moving within a 10 cent trade range with buy triggers at 55 cents and main support at 45 cents. Because of July 16 and 17 higher highs, we remain bullish despite the low volume accompanying that thrust. As we have mentioned above, should we see sellers driving prices to 45 cents, then my suggestion is to short on pull backs with stops at 50 cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post XRP Technical Analysis appeared first on BTC News Today.
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#bitcoin #invest #money ||||
Canadian investors have decided to put money and effort into a wind-powered crypto mining undertaking in Romania. To make it happen, they have finalized a deal to acquire a wind farm capable of producing enough energy to light the bulbs in over 30,000 homes. Driven by enthusiasm about the project, they have even added “Blockchain Power” to their company’s name.
Also read: Despite Regulation, Russians Plan to Build Europe’s Largest Mining Farms
Who Told Them About China?
It is unclear if the Canadians knew in advance about the closed-door meeting in Beijing on the use of electricity by bitcoin miners. Regardless, they have obviously made a strategic decision to spend their money several time zones to the west of the People’s Republic – in Dobrogea. The region is shared by the poorest EU member states – Romania and Bulgaria. It is a flat, wheat growing land, with no hills or mountains to stop the constant air currents from all cardinal directions. Wind farms are a common sight there.
The Ontario-based Transeastern Power Trust has just finalized a deal to acquire the Dorobantu wind park that had been developed there by OMV Petrom with a €90 million investment. The company intends to use the farm to power the mining facilities it is planning to set up in its vicinity. Cryptocurrencies, including bitcoin, will be mined there, according to Romanian media reports.
Transeastern completed the acquisition of the 45MW wind park using $23 million of short-term bridge financing and €2.8 million vendor financing from OMV Petrom. The debt will be repaid from the proceeds of the previously announced $40 million private placement scheduled to close in the first week of January. The utility company has already announced a decision to change its name to Blockchain Power Trust, in line with its focusing on mining virtual coins.
We believe we will be the pioneers of a new and robust business model, switching from a utility company to a vertically integrated cryptocurrency mining operation.
These are the words of Mr. J. Colter Eadie, Chief executive officer of Transeastern. He also added that the name change and the implementation of a new trading symbol will better reflect the Trust’s expansion into cryptocurrency mining powered predominantly by its self-generated, 100% renewable energy. The company is working on similar projects through its subsidiaries elsewhere in Europe, including the Netherlands.
Winds Will Blow Even If Coal Burns Out
The Canadian company has already entered into a non-binding agreement to buy mining equipment for which it expects to pay approximately $23 million. According to Transeastern, its new mining farm will have a processing power of 90.7 PH/s. That translates into generating about 30 bitcoins per day.
Chinese coal may burn out for crypto miners and gorgeous “Gorges” dams may dry out, but it is still a huge global village. From Romanian winds and Dutch waves, to bursting geysers in Iceland and sun catching mirrors in Arizona – there is a lot of energy to prove the work for Bitcoin.
And it’s not just about North Americans or Eastern Asians: Bitcoin is growing big in obscure corners of good ol’ Europe, too. Romanian cryptocurrency exchange CoinFlux announced last year that almost $24 million (100 million RON) worth of cryptos had been traded on its platform since its inception in late 2015, And those were figures from times when bitcoin was trading for a thousand dollars.
The Transeastern “Blockchain Power” Trust from Canada seeks to provide investors with “long-term, stable distributions, while preserving the capital value of its portfolio through investment”. Bitcoin mining sounds like something the company can utilize to deliver on that promise.
Do you think miners will relocate to other regions after China’s decision to quit preferential policies for them? Tell us in the comments section below.
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check our tools section.
The post Canadians Harness Wind to Mine Bitcoin – in Romania appeared first on Bitcoin News.
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