It became the first decentralized peer-to-peer payment network for using without any central authority or middlemen. In a nutshell, bitcoin is the money for Internet. Its original purpose is providing all people with universal currency for different operations. Bitcoin can also be described as the most prominent triple entry bookkeeping system in existence. Bitcoin has already changed people’s understanding of currency, payment and monetary system in whole. Its crucial feature is that there is no need in third party actions as people make peer-to-peer (P2P) payments just in 10 minutes, unlike credit cards which can take up to weeks to process payment.
Calculation and selection of financial planning
Example $10,000 annual return on investment
1.Firt small plan 0.88% HOURLY For 120 Hours–ROI（Return On Investment）–0.88%x120hours=105.6% per 5 days =133.6% per(30days) month =503.2% per 12 months
So $10000 invest in First small plan will total return $50,320
2.Second Plan 1.83% HOURLY For 60 hours–ROI （Return On Investment）–1.83%x60hours=109.8% per 2.5 days =217.6% per(30days) month =1511.2% per 12 months
So $10000 invest in Second plan will total return $151,120
3.Daily Plan 66% DAILY For 2 Days–ROI （Return On Investment）–66%x2 days=132% per 2 days =580% per(30days) month =5760% per 12 months
So $10000 invest in 66% daily plan will total return $576,000
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From a warning about Bitcoin’s 2019 rally to new support for Stellar Lumens, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
A prominent crypto analyst warns the 2019 Bitcoin rally is an “exchange driven pump” that’s due for a significant pullback. According to Willy Woo, Bitcoin’s Network Value to Transactions (NVT) ratio is now way out of whack.
“Presently the market price of BTC has outstripped organic investor flow unseen since the bull market mania phases of 2013 and 2017. Never before have we seen such a divergence so early in the bull market.”
The NVT ratio measures the utility value of Bitcoin according to the number of transactions on the network relative to the price. Because on-chain investor volumes are in the normal range, Woo says the only explanation is “a quant fund driven short squeeze devoid of any true investor volume.”
Whales can short squeeze a majority-short market by buying it up until the shorts are liquidated, forcing a torrent of buys that inflate the price, Woo explains.
“If you have sufficient capital. You can keep buying to liquidate the bears. It’s extremely profitable. You only stop when it’s no longer profitable. At the $8k-9k mark the market switched from short to majority long. This put a cap on the profitability of short squeezing.
“I’m awaiting this exchange driven pump to blow off, a proper retrace, and only then do I think real investor flows will come in and drive the true organic bull market.”
Ethereum
Ernst & Young’s global blockchain leader, Paul Brody, says blockchain is poised to trigger a fundamental transformation of how enterprises do business.
The accounting and consulting giant EY is building on Ethereum, and Brody says use cases for audits and supply chain management are some early examples of prime use cases for the technology.
“What I hope you’ll take away from this today is that blockchain is maturing. We have real products, real customers, real use cases, real value creation, stuff that’s in operations, and we also have a road map for where things can and should go in the future and how this can have an ever-bigger impact…
Blockchains we think are going to be the future way in which companies model and manage their business processes and, in particular, we can basically model any process between two enterprises or two agencies or two governments as a combination of tokens to represent assets and items of value and contract.”
Ripple and XRP
A presentation from Ripple’s chief technology officer David Schwartz is now online. At the We Are Developers in Berlin, Schwartz talks about the future of blockchain beyond the hype.
Litecoin
The Litecoin Foundation’s unique methods for raising funds to support the LTC ecosystem continue.
The Foundation has started to ship custom Litecoin cufflinks and tie bars, with a signed certificate of authenticity from LTC creator Charlie Lee.
Stellar
Crypto.com has added Stellar Lumens (XLM) to its Wallet & Card app.
Users of the app can now purchase XLM at true cost with no fees, with both credit cards and bank transfers supported. People can also use XLM with Crypto.com’s MCO Visa Card, making it easier to convert Stellar’s token into fiat for purchases from everyday merchants.
Tron
Tron’s latest report on the network’s decentralized app ecosystem is out.
According to the report, four new gaming DApps launched on the network this week, along with a decentralized exchange called SunDex.
Polish cryptocurrency exchange Coinroom has reportedly shut down its operations and disappeared with customer funds, local business news outlet money.pl reported on May 31.
Money.pl received an email from one of its readers, who stated that Coinroom — which was registered in 2016 — ceased operations overnight and disappeared with customers’ money in April. Some users say they had up to 60,000 zloty (around $15,790) in their accounts.
Before ceasing its operations, Coinroom reportedly sent emails to its customers, containing information about contract terminations. Coiroom customers had only one day to withdraw their money, which was in accordance with Coinroom regulations signed by users. However, customers reportedly claim that some of them got only part of the money, while most of them did not receive their funds back at all.
One of the exchange’s customers told money.pl that he had lost 2.005 bitcoins (BTC) (nearly $15,000 at press time). Another user stated that “on the second day after sending the e-mail I went to the Coinroom headquarters. The lady at the reception did not want to let me in, she claimed that nobody was in the office. Instead, she called someone from the company. I was asked to leave my details. Nobody contacted me.”
Spokesman for the District Prosecutor’s Office in Warsaw, Łukasz Łapczyński revealed that the office had initiated proceedings against Coinroom in connection with unauthorized activities providing payment services that intermediates in the exchange of cryptocurrencies. The office is also reportedly identifying other possible victims.
CoinMarketCap’s cryptocurrency exchange index shows that Coinroom has terminated its activities. The firm’s Twitter page has also seemingly been deleted.
As reported in mid-May, blockchain startups RepuX and JoyToken reportedly pulled a joint initial coin offering (ICO) exit scam. The companies reportedly ran their ICO promotions during March and April of 2018, and got away with $4.7 million and $3.3 million, respectively.
A technical indicator designed to detect market reversals is flashing its first sell in more than a month.
According to the GTI VERA Convergence Divergence indicator, the price of Bitcoin will likely continue to move lower in the short term, reports Bloomberg. The gauge utilizes typical Moving Average Convergence Divergence (MACD) and attempts to identify increased volatility and delete excess noise.
Meanwhile, veteran trader Peter Brandt sent out a viral tweet identifying a Doji top in Bitcoin’s weekly chart, which could signal the start of a significant market correction. The Doji is a candlestick pattern that’s used to identify potential market reversals based on prior price action.
Doji top on weekly chart begins correction. $BTC pic.twitter.com/9L9YCZbrP8
— Peter Brandt (@PeterLBrandt) June 4, 2019
However, Brandt later clarified that further analysis shows a Doji pattern has not been confirmed across all crypto exchanges.
Most major exchanges did not have a doji top — only Bitstamp that I can find which is not a credible exchange IMO. Remains to be seen out market will resolve short term, but some broader volatility most likely.
— Peter Brandt (@PeterLBrandt) June 4, 2019
Ethereum
A new demo of an Ethereum-based platform from accounting and consulting giant Ernst & Young is now online. Project “Nightfall” is a transaction protocol designed to move tokens on the blockchain with complete privacy.
Ripple and XRP
Ripple continues to move large amounts of XRP.
The company just sent 50 million XRP, roughly $20 million, to one of its over-the-counter (OTC) distribution wallets that are used to sell the digital asset to crypto exchanges and institutional participants.
🚨 🚨 50,000,000 #XRP (20,558,748 USD) transferred from Ripple to Ripple OTC Distribution wallet
Tx: https://t.co/Mpx3Ussvkp
— Whale Alert (@whale_alert) June 4, 2019
Litecoin
Litecoin’s hash rate hit a new all-time high on Sunday, amid rumors that new mining hardware from Bitmain will soon be released. The hash rate is a sign that the network is thriving as new miners join the network.
Source: BitInfoCharts
Stellar
The Stellar Development Foundation’s Jed McCaleb and Denelle Dixon are hosting a new ask-me-anything on Reddit.
The event is set for Wednesday morning at 10:00 a.m. PST.
Tron
Binance CEO Changpeng “CZ” Zhao says he won’t be able to go to the charity lunch with Warren Buffett. CZ says he was invited by Tron CEO Justin Sun who pledged millions to a charity, winning a lunch date with billionaire investor Buffett and a chance to invite seven colleagues. CZ is passing the torch to outspoken crypto supporter Anthony Pompliano of Morgan Creek Digital.
If I can make it, I’ll bring him a @binance hoodie 🙂
Indian police have reportedly discovered an alleged multi-million dollar cryptocurrency scam, involving a BitConnect promoter, local media outlet the Times of India reported on June 3.
The Criminal Investigation Department (CID) in Gujarat, India, has accused Divyesh Darji — a promoter of now-defunct cryptocurrency investment program BitConnect that ceased its operations in January of last year — of luring people to invest into “Regal Coin,” promising unrealistic returns of as high as 5,000% on investment. A CID official said that the estimated amount of the scam reaches into the tens of millions of rupees.
Per the CID, Darji began offering the investment scheme back in 2017, asking potential investors to buy the coin with an investment of $2 to get $100 on each Regal Coin. A CID official said that “Darji had promised that the investor would get the principal amount in 99 days. He had also promised to give interest on principal amount as per robotic trading profit along with 1% to 1.6% bonus as referral bonus at every 11 days.”
The scam was discovered after a Surat resident, Vishal Savalia approached the CID saying that he had lost around $26,783 in the Regal Coin scam. A CID official further explained that “Savalia had allegedly given the money to Darji’s daughter, Dimki through another accused and Darji’s aide, Ramdayal Purohit and Dimki herself had downloaded Regal Coin app in Savalia’s cellphone and get him registered on its website.”
According to the police, only Purohit is presently under arrest, while Darji was released on bail a month ago and is on the lam. This is reportedly the third case involving Darji.
At the end of August 2018, Indian police arrested Darji for allegedly promoting BitConnect and scamming investors. Darji reportedly said that he had been the India head of BitConnect. The CID claims that staff at the BitCoinnect office in Surat admitted that promoters had amassed “crores of rupees from thousands of investors.”
In February of this year, India’s Union Home Minister Rajnath Singh inaugurated the cyber forensic lab and Cyber Protection Awareness and Detection Centre, with a special unit focused on cryptocurrency.
Helsinki-based peer-to-peer exchange LocalBitcoins has reportedly removed the option allowing users to buy or sell cryptocurrencies in person for cash.
In a Reddit post Sunday, a LocalBitcoins user pointed out the option was no longer available on the platform, though commenters some suggested the restriction might be limited to the U.S..
The removal of the option – which basically acts as a matchmaker for users to make trades in person – effectively bars LocalBitcoin users from selling and buying bitcoin for cash. LocalBitcoins has also cancelled pending fiat trades, other comments suggest.
The platform has not yet made an official announcement about the change on its blog or Twitter.
In response to the move, LocalEthereum announced has temporarily removed the trading fee on cash-in-person exchanges – effective June 1 to July 1.
LocalBitcoins’ move comes after the company announced in February that it would comply with the European Union’s (EU) new anti-money laundering directive.
Several other P2P cryptocurrency trading platforms still offer an in-person cash option.
Bitcoin and the broader cryptocurrency market has been trading sideways since leaping higher at the beginning of this month, with ethereum now only 7% up on its late March price per ethereum token.
Musk tweeted the word “ethereum” then followed it up by tweeting “jk”—perhaps an attempt at preventing Twitter from suspending his account, which has previously been locked after tweeting about cryptocurrencies due to his long association with bitcoin and cryptocurrency give-away scams.
Musk then told ethereum’s Buterin to “stop giving away ETH.”
Musk has recently been embroiled in a row with the U.S. Securities and Exchange Commission (SEC) after he tweeted about his plans to take Tesla private last year, with the SEC then claiming that Musk violated an agreement by tweeting information Musk said had already been correctly relayed to investors.
“If I were the SEC I would probably have pushed to add a requirement in the amended settlement to the effect of, if Musk is going to tweet a joke about Tesla, he has to add a smiley face or a “j/k” or a “lol” to the end of it. Again, this is an absolutely terrible rule for life, or comedy; it really kills the joke. And I can see why Musk would be concerned with the aesthetics of his Twitter comedy. But the SEC probably shouldn’t be!”
Musk surprised bitcoin and cryptocurrency watchers earlier this month by saying that the meme-based dogecoin is his “fav” cryptocurrency, even ahead of original cryptocurrency bitcoin, which he’s heaped praise on previously.
Musk, who has become known for his meme-ing Twitter account while running three major U.S. technology and engineering companies, was at this time responding to (another) tongue-in-cheek Twitter poll that found him to be the favorite to take on the mantle of dogecoin CEO, with 49% of the vote.
Musk beat off competition from ethereum co-founder and widely respected crypto developer Buterin, litecoin founder Charlie Lee, and Marshall Hayner, the chief executive of bitcoin and cryptocurrency blockchain payments processor Metal.
Earlier this year the bitcoin and cryptocurrency markets were enlivened by comments from two of the most closely-watched figures in the tech world: Tesla’s Musk and Twitter’s CEO Jack Dorsey.
Despite a recent rally, the bitcoin price remains well under where it was most of last year.
CoinDesk
The bitcoin price failed to rally following Musk’s and Dorsey’s light praise of bitcoin and how cryptocurrencies will change the future of money—despite crypto media celebrating wholeheartedly.
Speaking on the Ark Invest podcast in February, Musk said it’s “very energy intensive to create bitcoin at this point” and it may not be “a good use of Tesla’s resources to get involved in crypto.”
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk
Crypto gift card platform Bitrefill has just added support for Airbnb. When users pay in Bitcoin, Ethereum, Litecoin, Dash or Dogecoin, they can buy a gift card for the online home rental giant.The vouchers are paid in denominations of $25, $50 and $100.
Cryptocurrency market data platform CoinMarketCap has added a new metric to their site for measuring the fundamentals of cryptocurrency projects.The new rating system dubbed the Fundamental Crypto Asset Score (FCAS) measures cryptocurrency projects “health” by considering user activity, developer behavior, and market maturity. Basically, the service provides insight into the growth and development of a project: “We intake raw blockchain data across relevant projects and parse them internally. Once we clean, analyze, and recreate the raw data elements, we combine them with market data gathered from various sources to inform our models……..
https://www.pivot.one/share/post/5d22c450595ce748ab44b02e?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV
Crypto gift card platform Bitrefill has just added support for Airbnb. When users pay in Bitcoin, Ethereum, Litecoin, Dash or Dogecoin, they can buy a gift card for the online home rental giant.The vouchers are paid in denominations of $25, $50 and $100.