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Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin

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Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

 

Whole Foods and Others accepting Bitcoin using Spedn:

A company called Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has managed to persuade a lot of big retailers including Nordstrom, Crate and Barrel & Whole Foods to configure the same scanners that they are already using for payments from other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

 


Everything is handled on the backend of the application so that the cashier need not even have heard of bitcoin, let alone understand how to manage payment in cryptocurrency. The merchant has the choice in receiving immediately converted fiat or actually taking and holding the cryptocurrency.

 

The Spedn app lets consumers pay in bitcoin, bitcoin cash, ethereum and GUSD (Gemini Dollar), the Gemini backed stablecoin.

 

This new solution actually uses the existing systems and offers really only upsides for the companies as they don’t have to do any special training for their staff and there is no new hardware required and just a software upgrade.

 

It is worth noting that this is still in its early experimental stages for all the retailers which are cooperating with this scheme and things may of course change in the future. The thing to keep in mind here is that Bakkt is likely launching a massive payment processing service for cryptocurrency in the very near future as well and it could be a big competitor to what Gemini and Flexa are offering.

 

The company will also need to prove itself with consumers and get people to actually go out, download and use the Spedn app.

 

Can this be a game changer in retailer adoption of bitcoin and cryptocurrencies? Let us know about your thoughts in the comments section below.

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Alert: GotSatoshi Reveals the Real Identity of Satoshi Nakamoto?

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A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.Here is what they revelead.

The identity of Satoshi Nakamoto is one of the biggest secrets in the world, especially in the cryptocurrency industry. A lot of people have speculated the real identity of the bitcoin founder and some people such as Craig Wright has even self-proclaimed themselves to be Satoshi Nakamoto. A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.

 

Where in the world is Satoshi: The Countdown ends

The website ran a countdown and also posted on their official twitter account claiming to know the real identity of the founder of bitcoin.

 

The countdown which ended just a few minutes back (from the time of publication) revealed a video which is actually marketing a news website called PaiNews. It seems that it was just another joke or a method of fooling and attracting traffic to the website.

 

What are your thoughts on such lame jokes or methods of attracting traffic? Tell us in the comments section below.

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Kevin O’Leary from Shark Tank calls Bitcoin: Garbage and a Useless Currency

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During an interview with the CNBC, Kevin O'Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

During an interview with the CNBC, Kevin O’Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

 

Kevin O’Leary calls Bitcoin Worthless

Famous as the founder of Softkey, a startup that earns annual revenue of around $29 million and a host on the American business reality series Shark Tank, Kevin O’Leary is a celebrity amongst the business class in the United States of America.

 

During the interview published on 14th May 2019, Kevin expressed his thoughts over the king of cryptocurrencies bitcoin and called it a useless currency as the people who accept it just wants to hedge against the high volatility of the virtual currency. This comes in the midst of the current bitcoin surge as the virtual currency doubled its value in just a few days from below $4000 to more than $8000.

 

Kevin also explained why he has such negative views on bitcoin giving the instance of how once he tried using bitcoin for a real estate transaction in Switzerland. He said that it is not possible to get in and out of bitcoin while transacting in huge amounts.

 

He also gave an example stating that if one wants to buy real estate in Switzerland for $10 million. The seller wants a guarantee that the value comes back to him as currency at ten and the buyer has to hedge the risk of the cryptocurrency, hence it is not a real currency. Kevin said that the seller or the receiver would never want to take the risk of such high volatility and thus BTC is worthless.

 

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Alert: Bitcoin Price Pump is Market Manipulation according to Crypto Analyst, Don’t be fooled

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Currently, every few minutes, there are hundreds of people getting wrecked on bitcoin leverage trading platforms such as Bitmex and Bitfinex.

Bitcoin is trading around $7360 (at the time of publication) after rising up to around $7580 earlier today, fully doubling its value since the lows earlier this year. The volume right now is also insane and we are reaching levels of the height of the 2017 bull run but without the kind of hype we had at that time which means that its the whales, institutions, or exchanges are controlling the current market situation and most of the retail buyers are just sitting with their empty bags full of losses.

 

Understanding the Bitcoin Market:

To understand the bitcoin market, we need to understand that the markets cannot run without a person or an institution buying bitcoin and another person or institution selling it. However, the institutions, whales and large cryptocurrency exchanges are well trained in manipulating the price of bitcoin and taking the money away from small retail investors.

There is always a situation of FOMO amongst the retail investors whenever the market is rapidly surging or crashing which leads to instant decision making and thereafter facing massive amounts of losses. These are the kinds of situations where large institutional investors and whales fill their bags with large amounts of profits.

To understand if such a situation is occurring or not, we need to check whether there is actually some kind of hype, situation or positive news for the price of a certain commodity such as bitcoin to rise or fall. If there isn’t, it might just be a pack of whales trying to grab away bitcoin from the small retail investors.

In 2017, the price of bitcoin surged massively from around $7000 to $20,000 in just a couple of weeks, however, at that time bitcoin hype was spread throughout the world and the markets were being controlled by retail investors and not big money players. However, the situation right now is quite different, where there is absolutely no hype, positive news or any such situation which could lead to a sudden price surge. So how is the price rising?

 

Cryptocurrency Analyst: Market Manipulation, Exchanges making profits

Currently, every few minutes, there are hundreds of people getting wrecked on bitcoin leverage trading platforms such as Bitmex and Bitfinex. Cryptocurrency analysts such as Snookerer have been constantly warning people about the current situation explaining how shorts are being liquidated.

According to Snookerer, cryptocurrency exchanges are pumping the markets as much as they can in order to liquidate the shorts. He even mentions that the exchanges are well aware of the fact that a huge dump is coming ahead and hence they are pushing the price upwards before the drop happens. The current market situation is not the result of organic growth as we have seen bitcoin break above the major resistance levels like a knife through butter. He also explains that the current market is a win-win situation for the exchanges that are manipulating the price of bitcoin. He says that the bubble is expanding and is currently on the verge of popping and when the price falls, it will be a free fall.

Source: snookererm, Tradingview.com

Source: snookererm, Tradingview.com

In another post, Snookerer says that the manipulation is currently in full effect as cryptocurrency exchanges are liquidating leveraged shorts that have been stacking. He says that due to this, the length of the current bear market that we were previously facing will be largely extended and will also cause a much faster and harder drop and possibly bring the price of bitcoin to such a level that ever the most bearish people had not expected.

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