Bitcoin Should Crypto Investors Fear after Yesterday’s Selloff Published 4 months ago on October 11, 2018 By Guest Author Share Tweet If there was one thing common between Crypto markets and stock markets, then that was a sell-off. Crypto investors lost $13 billion in the latest selloff. The cryptocurrency market has plunged in Asian markets on Thursday led by the most valuable digital coin, bitcoin. Significantly, all the top ten virtual assets are trading in the red with considerable losses. As a result, the overall market has shed a valuation of approximately $13 billion in a span of a few hours. Interestingly, this came on the back of a sharp plunge in stock markets after an overnight drop in stock values in Wall Street. Negative Factors The question which is lingering in everyone’s mind is whether there is a correlation between Cryptocurrency markets and stock markets? Well, the answer to that is a big “No.” However, the most common problem plaguing both markets is lack of liquidity. The fact that Bitcoin price dropped down below $6,300 level price whereas the second-placed Ethereum witnessed 10.8 percent fall to about $200. As far as the third-placed XRP is concerned, the virtual asset price plunged 24 percent. In the same way, prices of bitcoin cash dropped 14.38 percent whereas EOS fell 6 percent. Following this, the overall cryptocurrency market has seen its value erosion of close to $13 billion. The key point here is that the drop in digital coins comes at a time when financial authorities have issued a fresh warning. They were more concerned about the increasing growth and the potential threats it could pose to the general economy. Only recently, the International Monetary Fund viewed, “Continued rapid growth of crypto assets could create new vulnerabilities in the international financial system.” No Positive Catalysts The cryptocurrency market dropping like this is not new in the current year though it was opposite to the trend seen in the previous years. The year 2017 witnessed a whopping and unimaginable gain from digital currency market and reached the peak towards the Christmas season in December. However, the current year is witnessing more sell-off since regulators have entered the space in full swing to put it straight. Also, there were no positive catalysts to reverse the trend, and there have been only unfavorable factors or events that are only hurting the market. At the same time, the regulators are cautious and do not want to curb innovation. The entry of regulators has raised the hope that they will come out with measures to professionalize the sector and encourage virtual assets-linked exchange-traded funds (ETFs). However, that did not happen and on the contrary, the United States SEC has rejected ETFs based on cryptocurrencies. They did not spare the popular Winklevoss brothers supported ETFs too. Aside from these, the current year has seen some of the high-profile cyber attacks on cryptocurrency exchanges, and they have to bear the brunt of it. Similarly, fraudsters have tried to take advantage of the emerging asset class and tried to raise money through initial coin offerings (ICOs). These events or factors have continuously posed threats to the stability of digital coin prices. Related Topics:Bitcoinbitcoin priceBitcoin selloffbtccrypto selloffcryptocurrencycryptocurrency selloffethetherEthereumEthereum selloffINVESTMENTLitecoinmarket crashprice analysisprice predictionRippleripple selloffselloff Up Next Charlie Lee Vs Roger Ver, on the term: Bitcoin Cash Don't Miss Will XRP fall below $0.4? Ripple Price Analysis 11 Oct Continue Reading You may like Largest Banks Adopting Blockchain Technology Ripple Price Analysis: Is XRP actually bullish? Ethereum Price Analysis: ETH strong enough for $200? Alert: JP Morgan Coin: A threat to Bitcoin and XRP? 10 facts that prove that Craig Wright is not the real Satoshi Nakamoto JP Morgan Stable coin: All you need to know about JPM coin. 1 Comment 1 Comment Pingback: Should Crypto Investors Fear after Yesterday’s Selloff – The Coinage Times Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Banking Alert: JP Morgan Coin: A threat to Bitcoin and XRP? Published 1 day ago on February 16, 2019 By Nadja Eriksson Jp Morgan, the bank run by Jamie Dimon is launching its own cryptocurrency. JP Morgan has $2.6 trillion in assets, $100 billion annual revenue, it moves more than $5 trillion in wholesale payments every single day and a quarter million employees. It is used by the investment banking crowd, asset management crowd, private banking, private wealth management, and the treasury & security services division. This tells us exactly for whom the JP Morgan Coin is designed for. These are the organizations that are going to be using it. The JPM Coin is a centralized permissioned censorable blockchain based liquidity tool. Many people are even saying that it should not be considered to be a cryptocurrency and it is just a bank coin. The JP Morgan Coin: The JP Morgan Coin is designed to be a stablecoin. They will be starting off with the USD and will be expanding to other key currencies over time. So it will be a global currency within their permission network. It will be providing real-time gross settlements rather than waiting for days for the payments to get cleared. The network participants can transfer tokenized fiat instantly, constantly and with full finality 24X7 which is a major improvement to how the things work currently. The previous model apart from bringing slow was also more prone to fraud and exposed to the old central bank failure and required multiple intermediaries across the interbank network. The main use cases for the JP Morgan Coin will be international payments for sizeable corporate clients circumventing SWIFT and circumventing XRP. JP Morgan Coin may also be used for securities transactions. JP Morgan has previously tested a debt issuance on the blockchain and the token will allow institutional investors to buy debt issuance. Corporations could also use the JP Morgan treasury in order to take the place of their dollar holdings in their subsidiaries all over the world which will open more ways for the big corporate clients in order to move money back and forth. The JP Morgan Coin will be on the quorum blockchain which is a permissioned version of Ethereum which JP Morgan has been using for some time. The quorum blockchain has already seen institutional use cases. Financial institutions can trust that only authorized parties can join their private ethereum network and that the transactions will be confidential. So the JP Morgan Coin is probably for a very small group of elites. The History of JP Morgan: There are dozens of fines that JP Morgan pays yearly all around the world for doing basically the same kind of things. JP Morgan was fined $65 million for trying to vague the benchmark rate. They were fined $1.6 million for failing to meet anti-money laundering and counter-terrorist financing laws in Hong Kong. Citigroup and JP Morgan both had to pay a combined total of $182.5 million after being accused of violating anti-trust laws. Citigroup and JP Morgan allegedly the European Interbank offered rate. JP Mogan was $135 million for improper handling of American Depositary Receipts. In most of these cases, they are not actually found guilty of anything and they just settle. They don’t end up breaking any laws cause they just pay the huge amount of fine they are asked to pay. After the announcement of the JP Morgan Coin, JP Morgan stocks have gone up because of JP Morgan’s clients, this is a welcome sign of innovation. JP Morgan Coin vs XRP: It seems that some banks want their own coin and not XRP which is the supposed to be the banker’s coin. They really don’t want XRP for one reason or the other. Although banks would not want to use the JP Morgan Coin as such they might just have their own coins in future such as Bank of America Coin or Bank of China Coin etc. But we have an interesting situation when it comes down to exchanging value between these banks because XRP is essentially a public ledger vs the JP Morgan Coin which is private. XRP has a permissionless ledger vs JP Morgan Coin has a permission ledger. JP Morgan controls the JP Morgan Coin but they do not control the XRP ledger and remember that the banks like to have control and maybe the other banks are also going to think like JP Morgan but there is still a lot of hope for XRP. JP Morgan Coin may not see very much interoperability between banks, therefore, they might need some kind of bridge and that bridge could end up being XRP. Implications for Bitcoin: There are not many implications for bitcoin at all. Most of the bitcoin enthusiasts have zero interest in things like the JP Morgan Coin. Bitcoin has amazing and unique value propositions and this is not a threat in any way to bitcoin. JP Morgan cannot control bitcoin it is really hard to manipulate the price of bitcoin whereas in case of JP Morgan Coin, they have direct control over it. The current rumors say that JP Morgan is going to use Bakkt for their clients who want to purchase, invest and hold bitcoin. So the JP Morgan Coin doesn’t have threat on bitcoin. Bitcoin is always superior in every way. What are your thoughts on the JP Morgan Coin? Tell us in the comments section below. Continue Reading #Bitcoin 10 facts that prove that Craig Wright is not the real Satoshi Nakamoto Published 1 day ago on February 16, 2019 By Joyce Lang Everyone is aware of the impact that bitcoin has marked on today’s world. However, huge the success bitcoin gained in the financial market, more is the mystery about the inventor of bitcoin, Satoshi Nakamoto. Satoshi Nakamoto created bitcoin in 2008 and made it an open source in the year 2009. But Satoshi disappeared in 2010. No one knows how to salute Satoshi, whether he or she or they! A lot of people in the past has tried to claim that they are Satoshi, however, all the claims have been proved and till date, no one has the identity of Satoshi. In this article, we will discuss 10 reasons why Craig Wright is not the real Satoshi Nakamoto. 1. Craig Wright has not proven the ownership of the private keys of Satoshi. Although he tried to make the non-technical journalists fool by presenting the verification scripts, even any average student using cmd (command line) tools can find out the deception in the verification script that he was trying to show as a proof of ownership of Satoshi’s private keys. 2. Jimmy Song, a famous Bitcoin developer and one of the popular person on Youtube for crypto space recently had few harsh words for the Craigh claims for Satoshi. Jimmy said that he believes that Wright holds zero credibility to be Satoshi and no one should listen to his false claims. He made fun of Wright by saying that Craig Wright is just like a fat kid who falsely claims that have a pretty girlfriend. 3. Even Vitalik Buterin, a famous personality in crypto space denied the opinions of Craig to be Satoshi. In one of his interviews, he said that if he really was Satoshi, he could have proved by a simple private key but he presented a complex and bogus proof to the public to prove that he was Satoshi. He said that he believes that all the claims by Craig are false. 4. Even if Craig was Satoshi, why a person would show the world that he owns million of bitcoin in the cryptographic way of proof so that anyone can easily steal that billion worthy digital coins? I mean just for the sake of proving the identity, why would someone invite the hackers to steal all the bitcoin? This seems completely irrelevant. 5. Craig in his process to prove himself tried to fool all by using two similar words ‘signature’ and ‘signiture’. In his script, at one place he defined as ‘signature’ and while running the script, he used the word ‘signiture’. Anyone can understand this bogus proof easily just by having a careful look on the script that he portrayed. 6. John McAfee, a famous personality in computer programming and McAfee group, publicly denied the claims of Craig. He said the definitely, Craig is not the real Satoshi Nakamoto. He further added that he knew who the true Satoshi is. He has known him from the past. As per him, Satoshi is neither a committee nor the Craig Wright. Satoshi is a single and very intelligent individual. 7. There is no special event for Craig to prove that he is the real Satoshi Nakamoto. If he was the real Satoshi, he could have presented him in the public in the past when the bitcoin was on the peak. Also, when asked about the same in an interview, Craig Wright has no proper answer to it. Why would a person hide his identity when his creation was ruling the world and all of a sudden he would reveal his identity having no special event or reason? This is really not acceptable of Craig’s claims. 8. In one of the papers published by real Satoshi, he mentioned about some age of twenties. If this is taken as the age of Satoshi at that time then, this makes an incompatible age difference between Craig and the real Satoshi. Craig has his year of birth as 1970 and the paper published was in 2009-2010. So, if this assumption of the word twenty and age in a single line to be talking about Satoshi’s age is assumed true, then for sure Craig is not Satoshi. 9. Craig has stopped claiming himself as Satoshi Nakamoto these days after a lot of people cam publicly and thrashed the claims made by Craig. In a recent interview when asked about a question that is he the real Satoshi, he refused to answer directly. He has already been titled as a ‘faketoshi’! Why a person would refuse to accept his own identity even if some people of a society are not believing him? It is very difficult to digest. 10. The same day, when Craig Wright published his fake public cryptographic proof to claim as the real Satoshi and met Gavin Andresen, one news came that Anderson’s commit access to the Bitcoin Core was removed and the core team was concerned that it was probably hacked. This also gives the sign that Craig’s proof was not so much true and maybe someone on his behalf tried to hack bitcoin core accesses to steal some data and help Craig to claim. Continue Reading #Bitcoin Craig Wright Exposed by WikiLeaks Published 5 days ago on February 13, 2019 By Joyce Lang WikiLeaks posted on twitter about Craig Wright, the self-proclaimed Satoshi Nakamoto, disclosing his fake and altered blog post from 2008. According to WikiLeaks, the post was forged by Craig Wright to claim that he is the inventor of bitcoin and has been working on cryptocurrencies since 2008. WikiLeaks is an international non-profit organization that publishes secret information, news leaks, and classified media provided by anonymous sources. WikiLeaks was one of the first organizations to start accepting bitcoin after the American government had forced Mastercard and Visa to carry out transactions for the organization. According to WikiLeaks founder, Julian Assange, Wikileaks made 50,000% return on bitcoin that it has invested in 2010. Tweet by WikiLeaks: Craig Wright was exposed in a tweet by WikiLeaks yesterday which shows that the blog post which Craig Wright used to prove his identity as Satoshi Nakamoto, the creator of bitcoin is a forged blog post. WikiLeaks also stated that Craig Wright is a serial forger of documents and has been repeatedly caught. Craig S. Wright is a proven serial forger of documents claiming that he is the inventor of Bitcoin. He has been repeatedly caught. This has been independently verified by WikiLeaks at the time of his first claim and subsequently. https://t.co/87wu2Eg7WB pic.twitter.com/v4nG018JQF — WikiLeaks (@wikileaks) February 12, 2019 Craig Wright Responds: Craig Wright responded to the tweet by WikiLeaks stating WikiLeaks is a fake news site. He said that organizations such as WikiLeaks have freedom of speech. He also stated that a pseudo leak site such as WikiLeaks should not even exist. Craig-Wright-SS I hope people understand, with Bitcoin and Metanet, there is now NO reason for that pseudo leak site- WikiLeaks to even exist. Have a nice life, you had an opportunity to be more than a bunch of socialist losers and do something right – you failed. 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