Bitcoin

The Raven’s Dispatch – Bitcoin Mining Crash and Burn – 11 January 2019

The Ruthless Bitcoin Mining Industry

And here we thought 2019 was going to bring us riches and glory. It’s OK, nobody is blaming you for sipping on the hopium, it’s only 11 days into the new year. Plenty of time to recover, get things straight and keep on that resolution list (LOL).

But mining looks like it’s taken a turn for the worse. Remember the days when being a Bitcoin miner was about solidarity? About taking it to the man, the system? About being an outsider trying to find a new, better, and more open way to share assets? Ya fuck that. In this world it’s all about the benjamins….errr yuan….errr euro…errrr Bitcoin. Anywho bitcoin mining is now a cutthroat business that is crashing and burning.

So the new year has brought us some sideways movement, which I think we can all agree is welcome. Whatever you call it, it sure as hell beats 2018. Fuck 2018.

Top 5 Crypto

Throughout the first week of the year, most of the coins in the top twenty category according to market capitalization saw green on price analysis charts as investor confidence continued improving in the post fork period.

For a more detailed analysis check out Dennis’s weekly cryptocurrency analysis here.

WHAT’S NEW AT CRYPTO IS COMING

So much content, where to start. Oh I know:

Crypto 2019 – What to Expect – There’s no denying it – 2018 was a rough year for crypto in many respects. Despite the incredible leaps forward made in the technology, much of the mainstream media coverage focused on the price action of Bitcoin only, detailing the dramatic crash from an ATH of around $20,000 to under $4,000 today.

Crash and Burn: The Ruthless Bitcoin Mining Industry – Put it this way – the Bitcoin mining is not for the faint of heart.

Western Union open to Cryptocurrency adoption – two years ago this news would have excited me. I’m so jaded. Global cash transfer giant Western Union has revealed that it is evaluating options for the integration of blockchain technology and Cryptocurrency services to its platform.

Alipay partners with Malaysian bank to enable cross border Blockchain transactions – Alipay is  abig deal in Asia, right? Right?

How Decentralized is Bitcoin Core? – Bitcoin, Bitcoin Core, whatever. When it comes to talking Bitcoin forks, people tend to get heated. It’s a controversial subject in the cryptocurrency space

Are People Still Flocking to Blockchain Jobs – Even amid the so-called “crypto winter”  blockchain has seen rapid growth as an industry, viewed as exciting and innovative by many onlookers.

South African Finance minister announces push for cryptocurrency regulation – South Africa hopped onto the push for a regulated space for cryptocurrency in her economy.

Abkhazia cuts off power supply to 15 crypto-mining farms – We posted a while back how crypto mining was overwhelming Abkhazia’s electrical network. Well, eff those miners.

Will Bakkt Pump Bitcoin? – Lots has been said about BAKKT, but will it really have a positive effect? Bakkt, the futures market for Bitcoin being rolled out by New York Stock Exchange owner ICE, is close to approval from the US government and could change the cryptocurrency landscape in a major way.

BitMex to take over Exchanger cementing grip on the Crypto-industry – Madison Group Holdings, a Japanese wine-manufacturing giant, has teamed up with BitMex, a Japanese cryptocurrency exchanger to acquire majority shareholding in BitOcean- a leading crypto assets exchanger in Japan.

Zilliqa Denies Facebook Rumors – The cryptocurrency community has been quite enthusiastic about a particular piece of news, as it appears as though Facebook might be developing its own cryptocurrency.

InfoSys Exec Believes In Blockchain – Recently, in an interview, the Senior Vice President (SVP) at Infosys, a world-renowned IT company, praised blockchain, and spoke about how 2019 will be a great year for blockchain adoption.

Thanks for joining us this week! If you have something interesting you would like to submit reach out to us at info@cryptoiscoming.com. And don’t forget, Crypto is Coming!

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The Raven’s Dispatch – 27 Nov 2018 – Buy when there’s blood in the streets

Even if the blood is your own

Shining Blood Cryptocurrency market

Wise advice, Baron Rothschild. It’s too bad the vast majority of us spent our remaining fiat buying the f*%king dip in February, April, June, August, and so on. If you are not tapped out and have patiently waited as this bear market dragged everyone else down, well done. You are in a prime position to reap the rewards of what could be an epic change in trend. Either way the worse off things are in the crypto market, the greater the opportunity for profits.

The overall cryptocurrency market continues to drop kick everyone in the face dropping from $147bln to $122bln representing a another double digit drop of 17% in the past week. Serenity Now!

Top 4 crypto marketcap

Bitcoin (BTC/USD): Bitcoin, almighty influencer of other cryptos, was down by 36% throughout the week. This being the worst weekly in five years for the leading cryptocurrencies with regards to market capitalization.

This loss is the worst weekly loss since the second week of April 2013. It also dropped a further 10% on Sunday. The coin opened trading at $5553 and closed at $3520, translating into a 36% loss. Analysts predict that the digital coin may be headed for its worst loss since 2013 where prices nose-dived from $165 to $91, representing a 44% loss.

Ethereum (ETH/USD): Like Bitcoin, Ethereum took a severe dip, with prices pushing downwards. The $100 level was constantly tested although it was not breached. Prices hit a high of $ 177.18 and low of $110.83. Volatility, nothing to see here. Move along, move along.

Ripple (XRP/USD): The altcoin solidified its grip as the top rated crypto after Bitcoin. This was due to Ethereum’s woes. The pair hit a high of $0.5101 and a low of $0.3673 as its stellar performance continued despite taking a loss as was with the case with most other alt coins.

More at our Weekly Cryptocurrency markets analysis here.

WHAT’S NEW AT CRYPTO IS COMING

VanEck Subsidiary MVIS Launches Bitcoin OTC Spot Index – In a Nov. 20th press release, Frankfurt-based MV Index Solutions announced the launch of its new Bitcoin index, MVBTCO. The company hopes to bring crypto trading to the next level by providing the first index based on US price feeds.

Hacker arrested for stealing crypto-assets worth $1 Million in ‘SIM Swapping’ scam – Nicholas Truglia, a 21 year old man, has been arrested after he was identified as the hacker behind multiple ‘SIM Swapping’ hackings. SIM swapping is a mode of hacking in which the hacker takes over a phone number by duping wireless carriers, then uses that information to access and drain cryptocurrency accounts.

Three Bulgarians arrested over crypto theft worth $ 5 Million – Gendarmerie forces, a policing wing of the Bulgarian judiciary, have arrested three suspects alleged to have been involved in stealing $5 million in cryptocurrency. They are alleged to have hacked into digital coin wallets through ‘sim swapping.’

How USI Tech Pulled off One of the Largest Crypto Scams – A ponzi scheme in Crypto….SURPRISE! Not. USI Tech (United Software Intelligence Technology) is a company that claimed to develop the world’s first automated trading platform for Bitcoin (BTC). After some time, the public began to increasingly suspect that USI Tech was really a Ponzi scheme.

Fake “One-To-One” Trezor Wallet Copies Flood the Market – On Nov. 19th, Satoshi Labs, the company behind the hardware cryptocurrency wallet Trezor, published their insight into new illegal activities involving the theft of cryptocurrencies from unsuspecting victims using a Trezor. TL;DR: Buy your Trezor from official outlets.

Blockchain is Outpacing The Internet – One important milestone we think should be common knowledge is that blockchain tech is actually outpacing the internet in terms of the speed of its development – here’s why that’s important. Want to know more? Click on!

North Korea Announces International Cryptocurrency Conference – Come to N. Korea for the crypto, stay for torture and labour camps. Where do I sign up?

Initiative Q – The Next Bitconnect? – If you’re a social media user, you’ve probably come across Initiative Q by now. The well-marketed pseudo-cryptocurrency has taken social media by storm and shared by millions people around the world with promises of a financial revolution and, better yet, free money. ” Hey hey Heeeeeeeeeeeeeeeey!”, anyone?

Adult Entertainment and its love affair with cryptocurrency – Porn loves crypto, and we love porn back.

3 Thai siblings deny Bitcoin-related money laundering scheme – Actor Jiratpisit ‘Boom’ Jaravijit, 27, and two of his siblings pleaded ‘not guilty’ to charges of money laundering at the Criminal Court in Bangkok. The actor, his brother and sister are embroiled in a money laundering scheme in which they are alleged to have swindled a 21 year-old Finnish investor off 797 Million baht ($27 Million) in Bitcoin.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

Bitcoin Mining Firm Giga Watt Declares Bankruptcy Owing Millions – The firm filed for Chapter 11 bankruptcy at a court in the Eastern District of Washington on Monday.

Cryptojacking Malware on Make-A-Wish Foundation Website – Hackers have infected the website of global non-profit organization the Make-A-Wish Foundation with cryptojacking malware, according to a report by cybersecurity firm Trustwave.

ICE Postpones Bakkt’s Bitcoin Futures Launch To January 2019 – The operator of the New York Stock Exchange (NYSE) is delaying the launch of its bitcoin futures platform until January, 2019.

Wall Street’s crypto bull Tom Lee slashes year-end bitcoin price forecast nearly in half – Tom Lee, co-founder of Fundstrat Global Advisors, lowered his year-end target to $15,000 from $25,000 — still well above where the cryptocurrency was trading on Friday.

Bitcoin-Rigging Criminal Probe Focused on Tie to Tether – As Bitcoin plunges, the U.S. Justice Department is investigating whether last year’s epic rally was fueled in part by manipulation, with traders driving it up with Tether — a popular but controversial digital token.

Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices, Sources Say – Nasdaq Inc. is moving ahead with a plan to list Bitcoin futures, according to two people familiar with the matter, betting on sustained interest despite the cryptocurrency’s dramatic plunge over the past year.

600K Bitcoin Miners Shut Down in Last 2 Weeks, F2Pool Founder Estimates – Between 600,000 and 800,000 bitcoin miners have shut down since mid-November amid declines in price and hashrate across the network, according to the third-largest mining pool.

BitMEX Report: Twelve $50+ Million ICOs Haven’t Released Tokens (Yet) – Stiiiiill waiting on them tokens…..Still waiting..

Accounting Firm Attests Circle stablecoin is Backed 1:1 by USD – Wow a truly stable and transparent stablecoin? Tether could learn a thing or two.

Thanks for joining us this week! If you have something interesting you would like to submit reach out to us at info@cryptoiscoming.com. And don’t forget, Crypto is Coming!

Follow us on twitter @cryptoiscomin

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Visit our crypto swag store on Teespring

The Raven’s Dispatch – Nov 20, 2018 – Bitcoin and Crypto on the ropes

Bitcoin on the ropes, fighting spirit broken?!

Anyone telling you how AWESOME 2018 is can go straight the f*#k back to whatever hole they crawled out of. 2018 has been the pits. But the amazing thing about being down is that we normally get up. And we all know BTC is the champ, and we know the champ ALWAYS has gas left in the tank. If humanity could survive the Spanish Flu epidemic of the 20th century, so too can Bitcoin survive this mild yet annoying 2018.

We are back from a brief hiatus and are totally ready to get you back into the crypto mix with news, price analysis and interesting articles from around the internet! (Read: I took a vacation and frankly preferred not to interact with the insane crypto posse <3).

The overall cryptocurrency market keeps punching us in the gut dropping from $211bln to $153bln representing a vertigo inducing 27% drop in the past seven days. The Bitcoin Cash shenanigans did not help.

livecoinwatch Top5 Nov 20
WTF RIPPLE

BITCOIN (BTC/USD): The strongest digital coin by market cap veered off from stability following the BCH fork meltdown which saw it lose 10%, breaking the $6000 support level. Throughout the week, the coin hit a high of $6434.21 and the low point of $5358.38.

Ripple (XRP/USD) overtook ETH in market capitalization: XRP moved to second place as Ethereum took a beating. On the top, this week the prices of XRP were at USD 0.525536 and towards the bottom, it quoted USD 0.430398. Ether prices took a beating and lost its long-standing second place to XRP.

Bitcoin Cash (BCH/USD): The crypto everyone loves to hate. On November 14 BCH  split in two; BCH ABC and BCH SV. The fork led to a break of the recent stability, with most cryptos taking a 10% drop.

For a more detailed analysis check out our Weekly Cryptocurrency markets analysis here.

WHAT’S NEW AT CRYPTO IS COMING

Kriptomat Exchange ReviewKriptomat is a crypto-trading and e-wallet service officially licensed to operate within the EU. The exchange now offers 17 crypto-to-fiat pairs and also support over 20 languages. Need help in Spanish? No pasa nada. Don’t know how to deposit cash? N ie ma problemu. Enjoying a stroll along the Hungarian part of the Danube? Megkaptuk. Kriptomat has you covered.

The cryptocurrencies currently on offer are Bitcoin, Ethereum, Litecoin, Augur, Gnosis, 0x, OmiseGO, Enjin, Status, SunContract, Metal, Civic, Request Network, FunFair, PropyDash, Litecoin and Loopring. And guess what, all of these currencies can be traded against the Euro. Check out our full review of Kriptomat.io here. Sponsored.

Weekly Cryptocurrency markets analysis: November 11 to November 18 – Our weekly price analysis of crypto. This week was characterized by fundamental news of: The Bitcoin Cash Fork disagreement which brought the markets down and Ripple overtaking Ethereum to become the second top digital coin by market capitalization.

Japanese Insurer acquires 10% stake in African-based Bitcoin firm Bitpesa – Japanese based Sompo Holdings Inc. has partnered with Bitcoin remittance firm Bitpesa in a 570 Million Yen ($5 Million) deal. The partnership is aimed at increasing crypto-related fiat remittances between the U.K. and Kenya.

New York City Department of Financial services issues 14th BitLicense – What did I tell you about institutional investment. Foundations are being layed. The application had been filed by a subsidiary of NYDIG LLC- NYDIG Execution LLC. The latter company has been granted licensing for the operation of a virtual currency and money transmission service.

Voting With Blockchain – Pros and Cons – A lot has been said about using the blockchain to solve the worlds problem, but can it truly help when it comes to voting? Conor takes a closer look at the pros and cons of Voting With Blockchain.

The VanEck Bitcoin ETF – One day, Crypto is Coming, one day we will get an ETF! We’ve discussed the possibility of a Bitcoin ETF in the past and the doors such a tool could open (and close) for the crypto space. VanEck is an investment management firm headquartered in New York and founded in the mid-fifties. Will they be the first Bitcoin ETF?

Greece Supreme Court accused of blatant violation of accused’s rights – All Alexander Vinnik wanted to do was sell you crypto. Now he is the subject of an extradition battle between a few countries.

CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET

Headmaster Fired for Stealing School’s Electricity to Mine Crypto – Sneaky bastard. Can’t blame him though, can we? I mean being in the education sector is guaranteed to drive you into poverty.

A Crypto Apocalypse Wipes Out Over $20 Billion in 24 Hours – The year 2018 was the year of crypto……Said no one ever.

First Russian grain cargo traded using blockchain – The first physical trade of a wheat cargo in the Black Sea using blockchain technology was recorded on Monday in the latest step towards broader adoption of the digital ledger in agricultural trade.

Bloodbath Continues as Crypto Markets Collapse 33% in a Week Losing $70 Billion – Oh come on man!

[PSA] Non-genuine Trezor One devices spotted – Trezor has issued a warning of one-to-one copies of Trezor appearing on the market. This is clearly a fake. Don’t buy devices from unapproved resellers. Check for differences in packaging. Avoid steeply discounted Trezor wallets.

OKEx Pushes Back Against Manipulation Claims – OKEx will not let you smear it’s good name! Things are getting testy and OKEx is strarting to pushback. SAUCY!

Iran Close to Shifting Rial to Digital Currency Due to Sanctions – Iran is about to launch its Rial digital currency, which is being developed by the Informatics Services Corporation. According to the agency’s CEO, Seyyed Abotaleb Najafi, the coin will support Iran’s fiat.

Microsoft Releases Cloud-Based Azure Blockchain Development Kit – American software corporation Microsoft has released a serverless blockchain-powered Azure development kit, according to an announcement published Nov. 15.

Thanks for joining us this week! If you have something interesting you would like to submit reach out to us at info@cryptoiscoming.com. And don’t forget, Crypto is Coming!

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The Raven’s Dispatch – The Week in Cryptocurrency – June 14, 2018

Ethereum is not a security, crypto world rejoices

Dancing shoes? Check. Positive vibes? Check. Grease Lightning on repeat? Check. Whether you follow the daily musings of the SEC or not this is important news. There are so many ICOs built on the Ethereum blockchain the prospect that the very backbone of so many DAPPs being considered a security had many squirming in their pants. Well the SEC kinda sort of put that to bed. ETH is not a security. Let’s get this party started.

The top 5 in terms of marketcap remains unchanged but all dropped week to week. The overall cryptocurrency market in the past week declined from $344bln to $290bln representing a 15% decrease in the past seven days.

Sharp declines evident in the graphs below would have nocoiners running for the hills. But the OGs? Nah this ain’t nothing. Did you all notice the new Ripple logo? Snazzy.

Livecoinwatch.com

Bitcoin:  BTC dropped 12% to $6707 in the past week as of this post. Still waiting for that trend reversal? Bitcoin is restesting February lows but seeming to find support. Start boiling that water, you’re eating ramen tonight.

Ethereum: Ethereum, like bitcoin, dropped double digits percentage wise 13% over the past week settling at $518 as of this post. There was a time when everyone would tell you to buy ETH at 500. That you’d likely never see it there again. Well here we are, and we’re back at $500. Seriously people, #BTFD

ICONOMI (ICN): “A different way to invest”. ICONOMI is an investment platform based on the Ethereum network that boasts a variety of different tokens with different values and functions. It’s also an actual company, one of the first cryptocurrency companies to aim on offering shares to the public through tokens.

ICONOMI operates an index fund for cryptocurrencies meaning that users can invest in many coins from one point of entry, one fund. These funds are called Digital Asset Arrays and they are managed by fund managers tasked with investigating, and making you cash money.

ICN is listed on six exchanges but has found trouble maintaining it’s price. After hitting all time highs of $4.93 in June 2018, it fell dramatically to $0.71 where it stands as of this post. The main problem with the ICN token is that it currently has no utility. In other words it is not used on the ICONOMI trading platform. But that may be changing. We recently interviewed Gregor Zupanc, an ICONOMI DAA Manager, and it seems the ICONOMI team will begin to integrate the token into the platform. UTILITY!

What’s new at Crypto is Coming

A transfer of wealth unlike anything we’ve ever seen – The Bitcoin transfer of wealth is a much-discussed event that raises the questions of if the market will pick back up and what it would take for that to happen.

Coinbase Cryptocurrency Index Fund Now Available… To Big Investors – Cryptocurrency exchange, Coinbase, has announced the launch of its cryptocurrency index fund, effective today and available to US investors.

TOP 15 Recent/Upcoming ICOs – Great infographic from @ico_analytics detailing the top 15 recent and upcoming ICOs based off ratings from ICO reviewers. Check it out!

Coinbase Is “On Track” To Offer ICO Trading After Broker Acquisition – Cryptocurrency exchange, Coinbase, has said that they are “on track” to become a licensed and regulated cryptocurrency securities exchange, which will make it easier for investors to buy into ICOs by acquiring security tokens.

A Stablecoin – What are they and Can It Even Be Done? – The crypto market is full of stablecoins that aren’t very stable. What is a stablecoin and are they even possible?

POMP on Tokenized securities (Twitter thread of the day) – Token securities are gonna be a thing….and very very soon. Coinbase making a move today to strike first in the security token trading space.

The blockchain could disrupt legal institutions….here’s how! – Well established systems that have been around for a while, and essentially pretty big things to be meddling with, are going to be disreupted by the blockchain. Legal institutions are not immune.

Do We Really Need Cryptocurrency? – A Modern Exploration of Money – A number of leading businessmen and economists have questioned the need for cryptographic currencies over traditional fiat (paper) ones. They just don’t get Bitcoin.

Wells Fargo Bans Credit Card Crypto Purchases… But Debit Cards Still OK – Wells Fargo, one of the biggest banks in the US, has announced that they are banning customers from purchasing cryptocurrency using their credit cards, but have reiterated that Wells Fargo customers can still use their debit cards on exchanges and to buy currencies like Bitcoin.

EOS block producer proposal from EosMeso – An invitation to consider a vote for eosMeso, a BP candidate from MesoAmerica, headquartered in Guatemala.

How much do Crypto Exchanges make in revenue *every single day? InfoGraphic – Talk about printing money. Forget shitcoin trading, investing in an exchange was the best move to make during this cryptocurrency craze.

50 blockchain use cases (infographic) – Great infographic from Matteo Gianpietro Zago showcasing over 50 real world blockchain use cases.

Crypto Volume down across the board (graphic) – It looks like every exchange hast lost most of its volume in the past 6 weeks. Post consensus hasn’t been as kind to the alt markets as most of us expected it to be.

Interview: Gregor Zupanc – DAA Fund Manager at ICONOMI – In this interview, we speak to Gregor Zupanc, a Digital Assets Array (DAA) manager for Solidum Prime (SOPR), whom we met at the Madrid event.

Cryptocurrency news from around the internet

Bitcoin and ether are not securities, but some initial coin offerings may be, SEC official says – The SEC’s point man on cryptocurrencies and initial coin offerings (ICOs) says that bitcoin and ether are not securities

Bitcoin tumbles as hackers hit South Korean exchange Coinrail – South Korean cryptocurrency exchange Coinrail said it was hacked over the weekend, sparking a steep fall in bitcoin amid renewed concerns about security at virtual currency exchanges as global policy makers struggled to regulate trading in the digital asset.

Crypto Giant Binance to Offer Euro Trading Pairs This Year – Binance, one of the world’s largest cryptocurrency exchanges by traded value, will soon allow customers to convert digital tokens into fiat currencies such as the euro, according to Chief Executive Officer Zhao Changpeng.

Swarm to launch new tokens representing equity in Coinbase, Robinhood, Ripple, and Didi –  Swarm (www.swarm.fund), the blockchain for private equity, today announced the launch of tokens representing equity in individual tech companies, allowing Swarm investors to purchase security tokens representing fractional shares in private companies.

Here’s why EOS will confiscate your tokens if you HODL for too long –  Were you thinking about #HODLing EOS? Better think twice.

BitLicense Holder itBit to Be First New York Exchange to List Stellar (XLM) – Institutional cryptocurrency exchange and BitLicense charter recipient itBit has announced that it has received approval from the New York Department of Financial Services (NYDFS) to list four new cryptocurrencies: ethereum (ETH), bitcoin cash (BCH), litecoin (LTC), and stellar (XLM).

We hope you enjoyed this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at info@cryptoiscoming.com

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