news

Crypto

Followers

Showing posts with label Crypto. Show all posts
Showing posts with label Crypto. Show all posts

EFCC Denies Stopping Service of Charges on Binance Chief

EFCC Denies Stopping Service of Charges on Binance Chief


The Economic and Financial Crimes Commission, EFCC, wishes to react to a news report in a leading national newspaper entitled: “EFCC Stopped Service of Charges on Binance Chief, FIRS Alleges”. The report is untrue, misleading and removed from the facts before the court.


At no time did the court bailiff approach the EFCC to serve any of the Binance executives in its custody with a charge. At the last sitting of the court, counsel to the Federal Inland Revenue Service, FIRS, Moses Ideh, did not lodge such a complaint before the court. He only told the court that the Service was yet to serve the defendants.  


The Commission, therefore, finds the news item preposterous and embarrassing. The public is enjoined to ignore it entirely.

 



Source: EFCC


The Economic and Financial Crimes Commission, EFCC, wishes to react to a news report in a leading national newspaper entitled: “EFCC Stopped Service of Charges on Binance Chief, FIRS Alleges”. The report is untrue, misleading and removed from the facts before the court.


At no time did the court bailiff approach the EFCC to serve any of the Binance executives in its custody with a charge. At the last sitting of the court, counsel to the Federal Inland Revenue Service, FIRS, Moses Ideh, did not lodge such a complaint before the court. He only told the court that the Service was yet to serve the defendants.  


The Commission, therefore, finds the news item preposterous and embarrassing. The public is enjoined to ignore it entirely.

 



Source: EFCC

What is DeSo (Decentralized Social)?

What is DeSo (Decentralized Social)?

It’s like Facebook. But decentralized.


• A Layer-1 blockchain built to decentralize social media applications at scale

• A token supporting BitClout, the crypto social network that allows each creator to have their own tokens that can be bought and sold by followers


Join DeSO now and have your profile set-up

Use cases of DeSo

• Decentralizes the normally centralized data collected by social media applications.
• Puts content and intellectual property ownership back into the hands of creators on social.
• Creates a way for creators to have direct relationships with followers without intermediaries, unlocking new ways to engage and monetize audiences without ads.
Why is DeSo getting attention?

• October 4th, 2021 saw the longest Facebook outage in the company’s history, sparking discussions of more resilient technologies.



History of DeSo

• The DeSo blockchain was created by Nader Al-Naji, who started work on the project in early 2019.
• Al-Naji worked in high-frequency trading at D. E. Shaw and as an engineer on Google Search prior to raising $133 million for Basis, his previous company, which was building a decentralized dollar.
• Al-Naji is also the creator of BitClout, a high-profile social app built on the DeSo blockchain.


Join DeSO now to open your profile



Source: blockchain.com

It’s like Facebook. But decentralized.


• A Layer-1 blockchain built to decentralize social media applications at scale

• A token supporting BitClout, the crypto social network that allows each creator to have their own tokens that can be bought and sold by followers


Join DeSO now and have your profile set-up

Use cases of DeSo

• Decentralizes the normally centralized data collected by social media applications.
• Puts content and intellectual property ownership back into the hands of creators on social.
• Creates a way for creators to have direct relationships with followers without intermediaries, unlocking new ways to engage and monetize audiences without ads.
Why is DeSo getting attention?

• October 4th, 2021 saw the longest Facebook outage in the company’s history, sparking discussions of more resilient technologies.



History of DeSo

• The DeSo blockchain was created by Nader Al-Naji, who started work on the project in early 2019.
• Al-Naji worked in high-frequency trading at D. E. Shaw and as an engineer on Google Search prior to raising $133 million for Basis, his previous company, which was building a decentralized dollar.
• Al-Naji is also the creator of BitClout, a high-profile social app built on the DeSo blockchain.


Join DeSO now to open your profile



Source: blockchain.com

Octane $50m developers fund: How to Apply for Funding

Octane $50m developers fund: How to Apply for Funding






The Octane Fund is a $50 million fund to fuel the already-thriving Decentralized Social developer ecosystem, according to the deso.org.


Learn how to apply for funding today!


Now, armed with $50 million in cash, the Octane Fund will focus on the following initiatives:


Backing founders who are in "idea" stage at very favorable terms. To be considered for this funding, you must ideally build a demo that uses the DeSo blockchain in some way and submit your info to this very short form here.

Backing existing companies that are considering integrating DeSo features into their product. To be considered for this funding, please apply here.

Running multiple global hackathons focused on building out key components of the DeSo ecosystem, with large non-dilutive cash prizes and even larger equity investments for winning projects.

And the Octane Fund is only the beginning. In the coming weeks, we are excited to announce separate initiatives geared toward funding NFT artists on the DeSo blockchain as well as smaller creators via their social tokens. Stay tuned!







The Octane Fund is a $50 million fund to fuel the already-thriving Decentralized Social developer ecosystem, according to the deso.org.


Learn how to apply for funding today!


Now, armed with $50 million in cash, the Octane Fund will focus on the following initiatives:


Backing founders who are in "idea" stage at very favorable terms. To be considered for this funding, you must ideally build a demo that uses the DeSo blockchain in some way and submit your info to this very short form here.

Backing existing companies that are considering integrating DeSo features into their product. To be considered for this funding, please apply here.

Running multiple global hackathons focused on building out key components of the DeSo ecosystem, with large non-dilutive cash prizes and even larger equity investments for winning projects.

And the Octane Fund is only the beginning. In the coming weeks, we are excited to announce separate initiatives geared toward funding NFT artists on the DeSo blockchain as well as smaller creators via their social tokens. Stay tuned!


#DESO: The Octane Fund dedicates $50M to devs building on DeSo, Apply today - @Nader

#DESO: The Octane Fund dedicates $50M to devs building on DeSo, Apply today - @Nader

The big announcement has been made and indeed DeSO is on track of history.

The Octane Fund is a $50 million fund to fuel the already-thriving Decentralized Social developer ecosystem.

 According to deso.org , the DeSo Foundation is committed to supporting the decentralization of social media, with a strong focus on supporting the DeSo blockchain, the first blockchain custom-built to scale social applications to one billion users.

To support its mission, the DeSo Foundation has over $200 million in backing from Sequoia, Social Capital, Andreessen Horowitz, and many others. Now, as our first major initiative, we are proud to announce that we are launching a $50 million developer fund that we're calling The Octane Fund.

Why Octane? Because this fund is all about fueling and accelerating the already-rapid growth of the DeSo developer ecosystem. Even though the DeSo blockchain has only been in beta for six months, there are already over 100 apps building on DeSo, including Flick, created by Nigel Eccles, co-founder and former-CEO of FanDuel, Pulse, backed by Social Capital, and Polygram.cc, a first-class NFT marketplace

Listen to @Nader Sl-Nani, head of DeSO foundation: 








"Until today, there was only one way to run a social network: One company controlling everything. Now there's a new model: Thousands of independent devs building on the DeSo blockchain."

The Octane Fund dedicates $50M to devs building on DeSo. Apply today!

deso.org/blog/a-50-million-fund-to-fuel-the-decentralized-social-developer-ecosystem

Before DeSo, you had to be a cog in the machine to develop new social products, and there were only three apps to work on.

DeSo presents a new model where YOU control your destiny, and where you can build a future that we can't even imagine today.

Let's break free of the machine.

If you have an idea for a new kind of social app, apply to the Octane Fund, and we'll help you start your own social media company.

If you've ever felt like the conglomerates have eaten everything, and there's no room left for a little entrepreneur to compete...

If you've been thinking about starting a company but not sure anyone would support you...

Now is the time.
We're here for you, and we can't wait to see what you build.

docs.deso.org
@Nader concluded.

This announcement is one of it's kind and very earthshaking fothe devs world! 

To put the records straight, it should be noted that before #DeSo emergence, it would be nearly impossible to find funding for a new social media platform/app. 

According to @Krassenstein in his words: "This was because every project would start with 0 data and need to attract users in order to start building data."

"What Deso does is providing every developer on the chain with a firehose of data, and lets them concentrate on the actual development, rather than user acquisition, to build out the data they would need to succeed."
The big announcement has been made and indeed DeSO is on track of history.

The Octane Fund is a $50 million fund to fuel the already-thriving Decentralized Social developer ecosystem.

 According to deso.org , the DeSo Foundation is committed to supporting the decentralization of social media, with a strong focus on supporting the DeSo blockchain, the first blockchain custom-built to scale social applications to one billion users.

To support its mission, the DeSo Foundation has over $200 million in backing from Sequoia, Social Capital, Andreessen Horowitz, and many others. Now, as our first major initiative, we are proud to announce that we are launching a $50 million developer fund that we're calling The Octane Fund.

Why Octane? Because this fund is all about fueling and accelerating the already-rapid growth of the DeSo developer ecosystem. Even though the DeSo blockchain has only been in beta for six months, there are already over 100 apps building on DeSo, including Flick, created by Nigel Eccles, co-founder and former-CEO of FanDuel, Pulse, backed by Social Capital, and Polygram.cc, a first-class NFT marketplace

Listen to @Nader Sl-Nani, head of DeSO foundation: 








"Until today, there was only one way to run a social network: One company controlling everything. Now there's a new model: Thousands of independent devs building on the DeSo blockchain."

The Octane Fund dedicates $50M to devs building on DeSo. Apply today!

deso.org/blog/a-50-million-fund-to-fuel-the-decentralized-social-developer-ecosystem

Before DeSo, you had to be a cog in the machine to develop new social products, and there were only three apps to work on.

DeSo presents a new model where YOU control your destiny, and where you can build a future that we can't even imagine today.

Let's break free of the machine.

If you have an idea for a new kind of social app, apply to the Octane Fund, and we'll help you start your own social media company.

If you've ever felt like the conglomerates have eaten everything, and there's no room left for a little entrepreneur to compete...

If you've been thinking about starting a company but not sure anyone would support you...

Now is the time.
We're here for you, and we can't wait to see what you build.

docs.deso.org
@Nader concluded.

This announcement is one of it's kind and very earthshaking fothe devs world! 

To put the records straight, it should be noted that before #DeSo emergence, it would be nearly impossible to find funding for a new social media platform/app. 

According to @Krassenstein in his words: "This was because every project would start with 0 data and need to attract users in order to start building data."

"What Deso does is providing every developer on the chain with a firehose of data, and lets them concentrate on the actual development, rather than user acquisition, to build out the data they would need to succeed."

Amazing, Native video is here on DeSo Chain

Amazing, Native video is here on DeSo Chain


As a big announcement is underway today for the Decentralized Social media, the future of native video has been added to the DeSO Blockchain.

It looks amazing as @maebeam uploaded the first of it's kind on the DeSo chain.

See the sample here.



As a big announcement is underway today for the Decentralized Social media, the future of native video has been added to the DeSO Blockchain.

It looks amazing as @maebeam uploaded the first of it's kind on the DeSo chain.

See the sample here.


#DESO: MAJOR announcement coming Tuesday October 5th

#DESO: MAJOR announcement coming Tuesday October 5th

@Nader said: A major DeSo announcement is coming Tuesday October 5th. Are you ready for some Octane?




The Decentralized Social Blockchain
DeSo is a new layer-1 blockchain built from the ground up to scale decentralized social applications to one billion users.

Read about clear VISION of DESO
@Nader said: A major DeSo announcement is coming Tuesday October 5th. Are you ready for some Octane?




The Decentralized Social Blockchain
DeSo is a new layer-1 blockchain built from the ground up to scale decentralized social applications to one billion users.

Read about clear VISION of DESO

Keep #DeSo Community safe: List of Authentic and fake #SCAMALERTS

Keep #DeSo Community safe: List of Authentic and fake #SCAMALERTS

 FAKE #SCAMALERT HANDLES


1. @Scam_Identified_DONT_BUY

2. @scam_alert








AUTHENTIC #SCAMALERT HANDLES


1. @SCAM_DETECTED









We will be updating this page as soon as we can confirmed a Scam Alert page to be authentic or fake. Members of the community can also tage @LatestNewsPlus for any suspicious or authentic page of scamer alert page.


Correctly, there are a lot of such pages on DeSO which can't just categorized either as authentic or fake.


But unlike the confirmed authentic page above, they are all out to make profit by destroying other creator coin via false flags without any due diligent search.

They too can and should be flagged and added up here for people to know which is which.



 FAKE #SCAMALERT HANDLES


1. @Scam_Identified_DONT_BUY

2. @scam_alert








AUTHENTIC #SCAMALERT HANDLES


1. @SCAM_DETECTED









We will be updating this page as soon as we can confirmed a Scam Alert page to be authentic or fake. Members of the community can also tage @LatestNewsPlus for any suspicious or authentic page of scamer alert page.


Correctly, there are a lot of such pages on DeSO which can't just categorized either as authentic or fake.


But unlike the confirmed authentic page above, they are all out to make profit by destroying other creator coin via false flags without any due diligent search.

They too can and should be flagged and added up here for people to know which is which.



@LatestNewsPlus on #DESO: @scam_alert apologized, removed the flag, see the messages

@LatestNewsPlus on #DESO: @scam_alert apologized, removed the flag, see the messages





@latestNewsplus: You have until next 60seconds for our conversations here to be published!

6:56 PM

That’ll be enough  

Sold  

Found your article, I haven’t received any notification with @…  

If you sent this article directly to me it would be faster  

Sorry for inconvenience, but there are lots of scammers, I had to check you out  

https://twitter.com/latestnewsplus 

Is this your Twitter?  

Any social media?  

Instagram? 


***"See the earliest conversations





@latestNewsplus: You have until next 60seconds for our conversations here to be published!

6:56 PM

That’ll be enough  

Sold  

Found your article, I haven’t received any notification with @…  

If you sent this article directly to me it would be faster  

Sorry for inconvenience, but there are lots of scammers, I had to check you out  

https://twitter.com/latestnewsplus 

Is this your Twitter?  

Any social media?  

Instagram? 


***"See the earliest conversations

Breaking: @scam_alert flags LatestNewsPlus on #DESO, see the conversations

Breaking: @scam_alert flags LatestNewsPlus on #DESO, see the conversations

 

Thanks for believing in Latest News News coin
Get all your articles published on the LatestNewsPlus and across all our social media platforms.
Visit: latestNewsPlus.com
5:47 PM
Prove that it’s your website
I wrote you a sentence on this email
6:01 PM
Ask for any prove of your choice or forward any of your article for publication
6:02 PM
Tell me what I wrote, that’ll prove that you are the owner of the website
Or better write something about BitClout
And you may delete it after I check it out
In description of your website
6:09 PM
I have published more than two updatea from both #
From both @Diamondhands and @nerda
Check your notification for a tag with @nader publication on LATEST NEWS PLUS now
Or I should just go ahead and published this our conversation?
No yet received any Mail at [email protected]
You have until next 60seconds for our conversations here to be published!

 

Thanks for believing in Latest News News coin
Get all your articles published on the LatestNewsPlus and across all our social media platforms.
Visit: latestNewsPlus.com
5:47 PM
Prove that it’s your website
I wrote you a sentence on this email
6:01 PM
Ask for any prove of your choice or forward any of your article for publication
6:02 PM
Tell me what I wrote, that’ll prove that you are the owner of the website
Or better write something about BitClout
And you may delete it after I check it out
In description of your website
6:09 PM
I have published more than two updatea from both #
From both @Diamondhands and @nerda
Check your notification for a tag with @nader publication on LATEST NEWS PLUS now
Or I should just go ahead and published this our conversation?
No yet received any Mail at [email protected]
You have until next 60seconds for our conversations here to be published!

BitClout now to be known as DeSO: An announcement that sets the coin on fire as a DeSO is now over $100

BitClout now to be known as DeSO: An announcement that sets the coin on fire as a DeSO is now over $100







The latest announcement about the BitClout had it that the blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain.

DeSO is an acronym for "decentralized social." According to @DiamondHands in a statement on his profile on BitClout.

Since the announcement, in less 24hours, it has been a boom upward trending for the coin. Indeed it has been a Big day, aBig news for the BitClout community on the DeSo chain.

Creator Coins have also been gaining as the DeSo clamb new record trading price both on the BitClout and on Blockchain.com and it's exchange. We always had faith a developer focussed fund would be a smart decision over the long term. 

Read the Full announcement by @DiamondHands: 
BitClout family, today is a very big day for the project. Perhaps the biggest day since we launched in March.

Today, several critical things are happening:

* The blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain, short for "decentralized social." Check out deso.org!

* We are creating a non-profit called the DeSo foundation that will support the blockchain, and further a broad mission of decentralizing social media.

* The foundation will use a $200 million treasury raised from Sequoia, Social Capital, Andreessen Horowitz, and many others to support its mission. There is also a strategy to support everybody from developers, to NFT artists, to smaller creators and their coins, and we're very excited to announce all of those plans very soon.

Why are we doing this?


For over two years, I've been working on the blockchain that powers BitClout. It's the only blockchain that can scale social apps to one billion users because it's custom-built for this use-case.


This blockchain is the same one that powers the over 100 apps listed on bithunt.com/explore, and it's really something special. But until now, the blockchain didn't have a name, and most people who used these apps didn't even know it existed!


There is an amazing story here about the technology we're developing behind the scenes, so we felt it's time to separate the blockchain out into its own entity and give it its own name: DeSo, short for "decentralized social."


So, from now on, the blockchain that powers BitClout and all the other apps in the ecosystem will be known as the DeSo blockchain. And apps like BitClout will be referred to as "powered by DeSo."


DeSo is a blockchain, BitClout is one of over 100 apps *built on that blockchain.*


Now, with DeSo as its own separate brand, we can speak more directly to the developers that are so critical to growing the decentralized social movement we've started here together.


Developers can also feel more comfortable building on DeSo, knowing that they're getting access to the exact same data and API's that BitClout is getting.


BitClout is now no different and no more special than Pulse, Flick, Polygram, or any of the other amazing projects building on DeSo.


Importantly, nothing changes for users of any apps, except that we're going to call the underlying currency $DESO instead of $CLOUT. The supply is still fixed at ~10.8 million like it was before, and if you had X CLOUT before, you have X DESO now. We're just renaming to distinguish DeSo the blockchain from BitClout the app.


We felt renaming the currency was important to further reinforce that "BitClout the app" is not the same as "DeSo the blockchain."


In addition to this, it has always been our top priority to put a public and transparent support structure in place for the ecosystem, but we were concerned that setting up a formal structure too early would compromise decentralization by creating too much reliance on a single entity.


Now that the DeSo blockchain is running on thousands of nodes, and there are over a hundred projects building on the blockchain, we feel comfortable setting up an entity to formally and officially support the decentralized social ecosystem.


The DeSo Foundation is a non-profit, and it will be using a $200 million treasury raised from some of the top investors in the world to support the DeSo ecosystem.


Expect some big announcements about how we're going to use this treasury very soon!




There is also ..... One more thing....


As you all know, I've been working on this project anonymously for some time now. And during this time we've all achieved so much together, and made so many memories in the process.


But now, as we look to take BitClout, DeSo, and the ecosystem of apps built on it to the next level, we need a public figure that the mainstream can look to for guidance. Someone who can share our vision with the public at a much broader scale than what I'm capable of as a pseudonymous figure. And so, with both excitement and a heavy heart, it's time to pass the torch.




Today, I'm proud to announce that @nader will be your guide through phase 2 of our journey. I hope you'll give him a warm welcome, and that you'll have as much fun with him as I had with you all.


Going forward, @nader will be responsible for leading both the development of the DeSo blockchain, as head of the DeSo Foundation, and the development of the BitClout app.


Announcements about the platform will come from him going forward, and you should all be hearing from him very soon.


Really, it's crazy how much we've all achieved together. And even though our family has only been together for six months, it feels like I've known you all my whole life.


I'll still be around here and there, and even though my time as your leader is over, the journey is just beginning. It's a new era for this project, just don't forget why we're all here:


docs.deso.org


Just like the Bitcoin, DeSO developers remained anonymous.


Credit: @DiamondHands and @LetestNewsPlus 







The latest announcement about the BitClout had it that the blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain.

DeSO is an acronym for "decentralized social." According to @DiamondHands in a statement on his profile on BitClout.

Since the announcement, in less 24hours, it has been a boom upward trending for the coin. Indeed it has been a Big day, aBig news for the BitClout community on the DeSo chain.

Creator Coins have also been gaining as the DeSo clamb new record trading price both on the BitClout and on Blockchain.com and it's exchange. We always had faith a developer focussed fund would be a smart decision over the long term. 

Read the Full announcement by @DiamondHands: 
BitClout family, today is a very big day for the project. Perhaps the biggest day since we launched in March.

Today, several critical things are happening:

* The blockchain powering BitClout, and the over 100 apps building on top of it (bithunt.com/explore), will now be known as the DeSo blockchain, short for "decentralized social." Check out deso.org!

* We are creating a non-profit called the DeSo foundation that will support the blockchain, and further a broad mission of decentralizing social media.

* The foundation will use a $200 million treasury raised from Sequoia, Social Capital, Andreessen Horowitz, and many others to support its mission. There is also a strategy to support everybody from developers, to NFT artists, to smaller creators and their coins, and we're very excited to announce all of those plans very soon.

Why are we doing this?


For over two years, I've been working on the blockchain that powers BitClout. It's the only blockchain that can scale social apps to one billion users because it's custom-built for this use-case.


This blockchain is the same one that powers the over 100 apps listed on bithunt.com/explore, and it's really something special. But until now, the blockchain didn't have a name, and most people who used these apps didn't even know it existed!


There is an amazing story here about the technology we're developing behind the scenes, so we felt it's time to separate the blockchain out into its own entity and give it its own name: DeSo, short for "decentralized social."


So, from now on, the blockchain that powers BitClout and all the other apps in the ecosystem will be known as the DeSo blockchain. And apps like BitClout will be referred to as "powered by DeSo."


DeSo is a blockchain, BitClout is one of over 100 apps *built on that blockchain.*


Now, with DeSo as its own separate brand, we can speak more directly to the developers that are so critical to growing the decentralized social movement we've started here together.


Developers can also feel more comfortable building on DeSo, knowing that they're getting access to the exact same data and API's that BitClout is getting.


BitClout is now no different and no more special than Pulse, Flick, Polygram, or any of the other amazing projects building on DeSo.


Importantly, nothing changes for users of any apps, except that we're going to call the underlying currency $DESO instead of $CLOUT. The supply is still fixed at ~10.8 million like it was before, and if you had X CLOUT before, you have X DESO now. We're just renaming to distinguish DeSo the blockchain from BitClout the app.


We felt renaming the currency was important to further reinforce that "BitClout the app" is not the same as "DeSo the blockchain."


In addition to this, it has always been our top priority to put a public and transparent support structure in place for the ecosystem, but we were concerned that setting up a formal structure too early would compromise decentralization by creating too much reliance on a single entity.


Now that the DeSo blockchain is running on thousands of nodes, and there are over a hundred projects building on the blockchain, we feel comfortable setting up an entity to formally and officially support the decentralized social ecosystem.


The DeSo Foundation is a non-profit, and it will be using a $200 million treasury raised from some of the top investors in the world to support the DeSo ecosystem.


Expect some big announcements about how we're going to use this treasury very soon!




There is also ..... One more thing....


As you all know, I've been working on this project anonymously for some time now. And during this time we've all achieved so much together, and made so many memories in the process.


But now, as we look to take BitClout, DeSo, and the ecosystem of apps built on it to the next level, we need a public figure that the mainstream can look to for guidance. Someone who can share our vision with the public at a much broader scale than what I'm capable of as a pseudonymous figure. And so, with both excitement and a heavy heart, it's time to pass the torch.




Today, I'm proud to announce that @nader will be your guide through phase 2 of our journey. I hope you'll give him a warm welcome, and that you'll have as much fun with him as I had with you all.


Going forward, @nader will be responsible for leading both the development of the DeSo blockchain, as head of the DeSo Foundation, and the development of the BitClout app.


Announcements about the platform will come from him going forward, and you should all be hearing from him very soon.


Really, it's crazy how much we've all achieved together. And even though our family has only been together for six months, it feels like I've known you all my whole life.


I'll still be around here and there, and even though my time as your leader is over, the journey is just beginning. It's a new era for this project, just don't forget why we're all here:


docs.deso.org


Just like the Bitcoin, DeSO developers remained anonymous.


Credit: @DiamondHands and @LetestNewsPlus 

Update on BITCLOUT: You can buy CLOUT with ETH and MetaMask on any BitClout node!

Update on BITCLOUT: You can buy CLOUT with ETH and MetaMask on any BitClout node!









Today, for the first time, you can buy CLOUT with ETH and MetaMask on any BitClout node!

Until now, it's been hard for members of the ETH community to embrace BitClout because we didn't support their native currency.

This change opens BitClout up to 5M+ MetaMask users, opens it up to the #1 most active NFT community, and opens it up to ~$400 billion in ETH market cap that can now be a part of the ecosystem with just a few clicks.

If you know anyone in the ETH community be sure to let them know, and let's give them all a warm welcome!

Credit:  @Diamondhands








Today, for the first time, you can buy CLOUT with ETH and MetaMask on any BitClout node!

Until now, it's been hard for members of the ETH community to embrace BitClout because we didn't support their native currency.

This change opens BitClout up to 5M+ MetaMask users, opens it up to the #1 most active NFT community, and opens it up to ~$400 billion in ETH market cap that can now be a part of the ecosystem with just a few clicks.

If you know anyone in the ETH community be sure to let them know, and let's give them all a warm welcome!

Credit:  @Diamondhands

BITCLOUT REFERRALS COMING: How it looks like!

BITCLOUT REFERRALS COMING: How it looks like!







BitClout is a social media platform owned by its users. 

Just as a Bitcoin is decentralizing money also BitClout is decentralizing social media. BitClout is a new type of social network that mixes speculation and social media, and it's built from the ground up as its own custom blockchain. 

Like Bitcoin, BitClout is a fully open-source project and there is no company behind it-- it's just coins and code.

Referrals are imminent.

The System appears ready and the only holdup is timing its release with other features.

Every users will get their own referrals link.

When you share that link and a user goes to BitClout with that URL, a cookie is placed on their computer.

This means that if they don't immediately sign up, but go back later, the person who referred them still gets credit.

If multiple people refer the same person, the last link they clicked will determine the person who gets the reward.

Users will also be able to direct referrals to any page on Bitclout by adding the referral portion of a url to any Bitclout url.

As far as this decentralized BitClout social media is concerned, you can earn money even if you only browse the platform and don't create any content. The easiest way is to find creators whose content you enjoy on and off the platform, and buy their coin. You can do the same with projects you want to support.

BitClout is not a company. It is an open source blockchain like Bitcoin. BitClout was developed by an anonymous group, with a lead creator who goes by the name Diamondhands. According to Diamondhands, the group of creators has chosen to remain anonymous to keep the project decentralized.

The coin is currently on Blockchain.com wallet and it's Exchange.

Thank you @Tijn and @Diamondhands for some of this info.






BitClout is a social media platform owned by its users. 

Just as a Bitcoin is decentralizing money also BitClout is decentralizing social media. BitClout is a new type of social network that mixes speculation and social media, and it's built from the ground up as its own custom blockchain. 

Like Bitcoin, BitClout is a fully open-source project and there is no company behind it-- it's just coins and code.

Referrals are imminent.

The System appears ready and the only holdup is timing its release with other features.

Every users will get their own referrals link.

When you share that link and a user goes to BitClout with that URL, a cookie is placed on their computer.

This means that if they don't immediately sign up, but go back later, the person who referred them still gets credit.

If multiple people refer the same person, the last link they clicked will determine the person who gets the reward.

Users will also be able to direct referrals to any page on Bitclout by adding the referral portion of a url to any Bitclout url.

As far as this decentralized BitClout social media is concerned, you can earn money even if you only browse the platform and don't create any content. The easiest way is to find creators whose content you enjoy on and off the platform, and buy their coin. You can do the same with projects you want to support.

BitClout is not a company. It is an open source blockchain like Bitcoin. BitClout was developed by an anonymous group, with a lead creator who goes by the name Diamondhands. According to Diamondhands, the group of creators has chosen to remain anonymous to keep the project decentralized.

The coin is currently on Blockchain.com wallet and it's Exchange.

Thank you @Tijn and @Diamondhands for some of this info.

Seven Arrested for Bitcoin Scam in Port Harcourt, Umuahia

Seven Arrested for Bitcoin Scam in Port Harcourt, Umuahia

The Nigeria's Economic and Financial Crimes Commission, EFCC, Port Harcourt Zonal Office, has arrested seven suspected internet fraudsters. They are, Kufre Miller Okoh, Joshua Tom, Emmanuel Ekpuk Anderson, Pascal Alisiri, Chimeze Umungalaen, Clinton Alisiobi and Joshua Onuigbo.

The trio of Kufre Miller Okoh, Joshua Tom and Emmanuel Ekpuk Anderson were picked up by operatives of the Commission on Tuesday, February 4 in an early morning raid on their hide out, No 52/53 Azungu Street, Rumuigbo, Port Harcourt, while the quartet of Pascal Alisiri, Chimeze Umungalaen, Clinton Alisiobi and Joshua Onuigbo were arrested at Intercontinental Hotel, Umuahia, Abia State on February 3, 2020.

Preliminary investigation indicate that the suspects, particularly those arrested in Port Harcourt were neck deep in bitcoin scam.
The Nigeria's Economic and Financial Crimes Commission, EFCC, Port Harcourt Zonal Office, has arrested seven suspected internet fraudsters. They are, Kufre Miller Okoh, Joshua Tom, Emmanuel Ekpuk Anderson, Pascal Alisiri, Chimeze Umungalaen, Clinton Alisiobi and Joshua Onuigbo.

The trio of Kufre Miller Okoh, Joshua Tom and Emmanuel Ekpuk Anderson were picked up by operatives of the Commission on Tuesday, February 4 in an early morning raid on their hide out, No 52/53 Azungu Street, Rumuigbo, Port Harcourt, while the quartet of Pascal Alisiri, Chimeze Umungalaen, Clinton Alisiobi and Joshua Onuigbo were arrested at Intercontinental Hotel, Umuahia, Abia State on February 3, 2020.

Preliminary investigation indicate that the suspects, particularly those arrested in Port Harcourt were neck deep in bitcoin scam.

Iran: 1,000 cryptocurrency miners given permits

Iran: 1,000 cryptocurrency miners given permits

Financial Tribune – The Ministry of Industries, Mining and Trade has issued 1,000 plus licenses for cryptocurrency mining units so far, an official with Iran’s ICT Guild Organization said.

A limited number of authorized mining farms currently are active across the country.

“Our studies show that the crypto mining industry has the potential to add $8.5 billion to the economy…but high electricity tariffs plus stringent regulations have made the sector less appealing for small investors,” Amir Hossein Saiedi was quoted as saying by IBENA.
Financial Tribune – The Ministry of Industries, Mining and Trade has issued 1,000 plus licenses for cryptocurrency mining units so far, an official with Iran’s ICT Guild Organization said.

A limited number of authorized mining farms currently are active across the country.

“Our studies show that the crypto mining industry has the potential to add $8.5 billion to the economy…but high electricity tariffs plus stringent regulations have made the sector less appealing for small investors,” Amir Hossein Saiedi was quoted as saying by IBENA.

Bitcoin was the best investment of the decade - CNN

Bitcoin was the best investment of the decade - CNN

$1 in BTC at the start of 2010 would now be worth around $90,000


Major news outlet CNN has touted Bitcoin BTC as the “star investment” of the decade, eclipsing stocks, bonds, commodities, and (of course) fiat currencies worldwide.

CNN backed its claim with numbers provided by Bank of America Securities, which showed a tiny $1 investment in Bitcoin at the start of 2010 would be worth more than $90,000 today (or, considering its latest price dives, until quite recently).

Still, regardless of its recent performance, Bitcoin dominated more traditional investments. Even though the US stock market is the strongest in the world, $1 in American stocks at the start of the decade would now reportedly be valued at just $3.46.

One dollar invested in a 30-year US treasury bond over the same time period would now be worth $2.08.

Gold, however, was reportedly the top commodity of the 2010s (aside from Bitcoin, of course). A $1 gold investment in 2010 is said to be worth just $1.34, while the same in oil would equate to 74 cents.
Bitcoin definitely performed better than the Greek equity market

CNN listed some terrible investments, too. A dollar in Myanmar currency at the start of the decade would now reportedly be worth a measly 4 tenths of one US cent today.

Thanks to Greece’s debt crisis, 100 cents in the Greek equity market would now equate to only seven cents.

While BTC’s value indeed went from fractions of a penny to thousands of dollars today, it’ll surely be hard to defend its title of “best investment of the decade.”

Now, Bitcoin faces its next test: the 2020s.



This is not investment advice. This is for educational purposes only. Do your own research, damnit. No, really, don’t buy Bitcoin because you read this article. Past performance is not indicative of future results. I’m not even qualified to tell you that. See what I mean? Do your own research. Please.

$1 in BTC at the start of 2010 would now be worth around $90,000


Major news outlet CNN has touted Bitcoin BTC as the “star investment” of the decade, eclipsing stocks, bonds, commodities, and (of course) fiat currencies worldwide.

CNN backed its claim with numbers provided by Bank of America Securities, which showed a tiny $1 investment in Bitcoin at the start of 2010 would be worth more than $90,000 today (or, considering its latest price dives, until quite recently).

Still, regardless of its recent performance, Bitcoin dominated more traditional investments. Even though the US stock market is the strongest in the world, $1 in American stocks at the start of the decade would now reportedly be valued at just $3.46.

One dollar invested in a 30-year US treasury bond over the same time period would now be worth $2.08.

Gold, however, was reportedly the top commodity of the 2010s (aside from Bitcoin, of course). A $1 gold investment in 2010 is said to be worth just $1.34, while the same in oil would equate to 74 cents.
Bitcoin definitely performed better than the Greek equity market

CNN listed some terrible investments, too. A dollar in Myanmar currency at the start of the decade would now reportedly be worth a measly 4 tenths of one US cent today.

Thanks to Greece’s debt crisis, 100 cents in the Greek equity market would now equate to only seven cents.

While BTC’s value indeed went from fractions of a penny to thousands of dollars today, it’ll surely be hard to defend its title of “best investment of the decade.”

Now, Bitcoin faces its next test: the 2020s.



This is not investment advice. This is for educational purposes only. Do your own research, damnit. No, really, don’t buy Bitcoin because you read this article. Past performance is not indicative of future results. I’m not even qualified to tell you that. See what I mean? Do your own research. Please.

How Extortionists use flood of bomb scares to shake down Moscow courts for bitcoin profit

How Extortionists use flood of bomb scares to shake down Moscow courts for bitcoin profit

Scammers, who have been anonymously phoning in bomb hoaxes to Moscow courts, are using email accounts to extort bitcoins in exchange for backing down on their threat, a law enforcement told TASS.

"The extortionists who are vowing to detonate bombs are demanding ransom money be transferred to them in bitcoins in order for them not to carry out their criminal intentions," the source said. The courts corroborated the information on the racketeers’ ransom demands, but did not specify the sum.

According to earlier reports, people were evacuated from the Moscow City Court and the Basmanny, Presnensky, Zamoskvoretsky, Cheryomushkinsky and Chertanovsky District Courts. 

Based on the latest updates, the Presnensky and Cheryomushkinsky Courts have already returned to normal operations. Information about an alleged bomb hidden in the Interior Affairs Directorate for the Southwestern Administrative District and at the Novinsky Passazh shopping mall in downtown Moscow is being investigated as well.

Six courts were also previously cleared out following a bomb scare, but no explosive objects were found there. According to TASS’ source, the racketeers also sought ransom money via bitcoins.

Scammers, who have been anonymously phoning in bomb hoaxes to Moscow courts, are using email accounts to extort bitcoins in exchange for backing down on their threat, a law enforcement told TASS.

"The extortionists who are vowing to detonate bombs are demanding ransom money be transferred to them in bitcoins in order for them not to carry out their criminal intentions," the source said. The courts corroborated the information on the racketeers’ ransom demands, but did not specify the sum.

According to earlier reports, people were evacuated from the Moscow City Court and the Basmanny, Presnensky, Zamoskvoretsky, Cheryomushkinsky and Chertanovsky District Courts. 

Based on the latest updates, the Presnensky and Cheryomushkinsky Courts have already returned to normal operations. Information about an alleged bomb hidden in the Interior Affairs Directorate for the Southwestern Administrative District and at the Novinsky Passazh shopping mall in downtown Moscow is being investigated as well.

Six courts were also previously cleared out following a bomb scare, but no explosive objects were found there. According to TASS’ source, the racketeers also sought ransom money via bitcoins.

Crypto: Chinese's DC/EP trials may start in Yangtze River Delta, Greater Bay Area - expert

Crypto: Chinese's DC/EP trials may start in Yangtze River Delta, Greater Bay Area - expert

Unlike Libra, China's DC/EP will be backed by domestic banks, financial institutions and third-party payment firms.


Trials of the Chinese central bank's digital currency/electronic payment (DC/EP), could start in the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, two of China's most developed regions, an insider in the blockchain sector told the Global Times on Thursday.

The comments come after a top People's Bank of China (PBC) official unexpectedly unveiled detailed progress the country had made toward the final roll-out of its digital currency.

Work including the top-down design, standardization and testing have been basically completed, news site Yicai reported on Thursday, citing PBC Vice Governor Fan Yifei.

Fan, who made the remarks at a forum, also revealed that the next phase of work involves picking viable locations for trials and scenarios where the new digital currency will be used, under the principles of gradual progress, security and risk control.

Fan said the roll-out of the government-backed cryptocurrency will be in a steady manner as the DC/EP's function is fine-tuned during the trials.

"The two regions are China's most advanced areas, with their sophisticated manufacturing, consumption and logistics industries," Cao Yin, an insider in the blockchain sector, told the Global Times on Thursday.

"They also have the best city governance and host the highest intensity of financial institutions," Cao explained, alluding to the recent establishment of cryptocurrency research arms by the PBC in Shenzhen, South China's Guangdong Province and Hangzhou, East China's Zhejiang Province.

Experts said Fan's message is significant as the PBC is poised to become the first central bank in the world to issue a digital currency, in the wake of Facebook's Libra cryptocurrency plan that some said could challenge other countries' financial sovereignty.

Unlike Libra, China's DC/EP will be backed by domestic banks, financial institutions and third-party payment firms.

Cao also revealed that teams from China's Big Five state-owned banks, including the world's largest bank - Industrial and Commercial Bank of China - are visiting the two cities to "connect" their systems with existing domestic DC/EP systems.

"Big banks will be the first financial institutions to begin the trials," Cao said.

Zhou Xiaochuan, former head of the PBC, said at a forum on Tuesday that the major use scenarios of DC/EP in the initial phase will be retail and cross-border payment.

Region-wide trials will contribute to the further integration of the two regions in line with stated government goals, Cao said.




By Chu Daye

Source: Global Times
Unlike Libra, China's DC/EP will be backed by domestic banks, financial institutions and third-party payment firms.


Trials of the Chinese central bank's digital currency/electronic payment (DC/EP), could start in the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, two of China's most developed regions, an insider in the blockchain sector told the Global Times on Thursday.

The comments come after a top People's Bank of China (PBC) official unexpectedly unveiled detailed progress the country had made toward the final roll-out of its digital currency.

Work including the top-down design, standardization and testing have been basically completed, news site Yicai reported on Thursday, citing PBC Vice Governor Fan Yifei.

Fan, who made the remarks at a forum, also revealed that the next phase of work involves picking viable locations for trials and scenarios where the new digital currency will be used, under the principles of gradual progress, security and risk control.

Fan said the roll-out of the government-backed cryptocurrency will be in a steady manner as the DC/EP's function is fine-tuned during the trials.

"The two regions are China's most advanced areas, with their sophisticated manufacturing, consumption and logistics industries," Cao Yin, an insider in the blockchain sector, told the Global Times on Thursday.

"They also have the best city governance and host the highest intensity of financial institutions," Cao explained, alluding to the recent establishment of cryptocurrency research arms by the PBC in Shenzhen, South China's Guangdong Province and Hangzhou, East China's Zhejiang Province.

Experts said Fan's message is significant as the PBC is poised to become the first central bank in the world to issue a digital currency, in the wake of Facebook's Libra cryptocurrency plan that some said could challenge other countries' financial sovereignty.

Unlike Libra, China's DC/EP will be backed by domestic banks, financial institutions and third-party payment firms.

Cao also revealed that teams from China's Big Five state-owned banks, including the world's largest bank - Industrial and Commercial Bank of China - are visiting the two cities to "connect" their systems with existing domestic DC/EP systems.

"Big banks will be the first financial institutions to begin the trials," Cao said.

Zhou Xiaochuan, former head of the PBC, said at a forum on Tuesday that the major use scenarios of DC/EP in the initial phase will be retail and cross-border payment.

Region-wide trials will contribute to the further integration of the two regions in line with stated government goals, Cao said.




By Chu Daye

Source: Global Times

Reach for the Moon Again: Chess Legend Garry Kasparov Wants Us to Embrace Technology (And Bitcoin)

Reach for the Moon Again: Chess Legend Garry Kasparov Wants Us to Embrace Technology (And Bitcoin)

Garry Kasparov, famous for taking on technology in a straight one-for-one battle when he defeated Deep Blue in 1996, is no longer wanting us to fight technology. Instead, he wants us to embrace it.

Kasparov made headlines when he defeated IBM supercomputer Deep Blue, but he also changed the world’s sentiment towards technology when the computer beat him in 1997. Suddenly, humanity realized technology was far more powerful than we thought.

For Kasparov, things started to change in relation to how we view technology from that moment. At first, he saw the defeat as a curse. How, he sees it as a blessing because people are starting to be aware of what new technology — such as artificial intelligence and blockchain — can do for the advancement of humanity.

However, he is also well aware that humanity has lost its spirit of adventure and when a disruptive technology like Bitcoin starts challenging the status quo, it is often met with suspicion and fear. Yet, there is nothing to fear with Bitcoin — predicted only on mathematics. We should instead be fearing governmental chaos.

Garry Kasparov, in an interview with BeInCrypto, explained how people’s relationship with technology has ebbed and flowed while discussing how, in 1969, with very primitive technology (relative to today), we looked to the moon.

Today, where the free chess app on your phone is more powerful than Deep Blue, “we are too incremental.” Fifty years later and instead of celebrating a new Apollo 11 — which inspired the world and a generation — we are, instead, celebrating the iPhone 11, which he says “inspires nothing.”

Kasparov is of the opinion that, when he lost to Deep Blue, it was the end of an era — but one that we should be embracing far more than we currently are:

The fact, back then, was that the machine could win one game against the sitting World Champion under what we call normal time controls, it was a clear demonstration that the rest would come soon… It was a very important step forward, a big milestone, and people recognized the power of computers. So, 22 years later, I no longer think about it as a curse; it is more like a blessing. I quickly realized that the era of human vs. machine would be over soon, and it would come down to human plus machine.


In Math We Trust

Unsurprising, Kasparov is quite active in the world of AI and deeply interested in how humans and machines interact. He is also a big believer in Bitcoin because he is a believer in math. The certainty of Bitcoin and its transparent nature in relation to governmental financial policies is what the former Chess Grandmaster feels we should embrace.


What made me attracted to Bitcoin is I know the magic number is 21 million, and I know that Math is protecting me … With government, they can print another trillion dollars, and that is the biggest challenge. I know we can lead to chaos if we deny government rights to control the financial side of things, but we are already sliding into chaos because the governments are irresponsible. They create all this money, and 85 percent of it ends up in the stock market, it does not find its way to the real economy, we are basically just propping up the stock market. It is another big bubble. With Bitcoin, you have an ordinary man or woman in the street having a knowledge of the process.

Garry Kasparov: Reach for the Moon (Again)

The dichotomy of today’s sentiment towards technology is brilliantly outlined by Kasparov when he makes his iPhone 11 and Apollo 11 comparison. We have untapped potential with the technology we see today, yet we are not adventurous enough to embrace it.


Today, anything new, anything that upsets the status quo, is treated with suspicion at best or fear at worst. I sense this at conferences I talk at — a combination of anxiousness and fear, sometimes curiosity, because people recognize we are gradually moving into a new era were human-machine collaboration will become a dominant factor and they don’t know how to handle it.

For the grandmaster, he would rather have us dreaming big — like the 50s and 60s — and embracing wild ideas that can be achieved with technology, rather than trying to quash and fight against the machines.

Garry Kasparov, famous for taking on technology in a straight one-for-one battle when he defeated Deep Blue in 1996, is no longer wanting us to fight technology. Instead, he wants us to embrace it.

Kasparov made headlines when he defeated IBM supercomputer Deep Blue, but he also changed the world’s sentiment towards technology when the computer beat him in 1997. Suddenly, humanity realized technology was far more powerful than we thought.

For Kasparov, things started to change in relation to how we view technology from that moment. At first, he saw the defeat as a curse. How, he sees it as a blessing because people are starting to be aware of what new technology — such as artificial intelligence and blockchain — can do for the advancement of humanity.

However, he is also well aware that humanity has lost its spirit of adventure and when a disruptive technology like Bitcoin starts challenging the status quo, it is often met with suspicion and fear. Yet, there is nothing to fear with Bitcoin — predicted only on mathematics. We should instead be fearing governmental chaos.

Garry Kasparov, in an interview with BeInCrypto, explained how people’s relationship with technology has ebbed and flowed while discussing how, in 1969, with very primitive technology (relative to today), we looked to the moon.

Today, where the free chess app on your phone is more powerful than Deep Blue, “we are too incremental.” Fifty years later and instead of celebrating a new Apollo 11 — which inspired the world and a generation — we are, instead, celebrating the iPhone 11, which he says “inspires nothing.”

Kasparov is of the opinion that, when he lost to Deep Blue, it was the end of an era — but one that we should be embracing far more than we currently are:

The fact, back then, was that the machine could win one game against the sitting World Champion under what we call normal time controls, it was a clear demonstration that the rest would come soon… It was a very important step forward, a big milestone, and people recognized the power of computers. So, 22 years later, I no longer think about it as a curse; it is more like a blessing. I quickly realized that the era of human vs. machine would be over soon, and it would come down to human plus machine.


In Math We Trust

Unsurprising, Kasparov is quite active in the world of AI and deeply interested in how humans and machines interact. He is also a big believer in Bitcoin because he is a believer in math. The certainty of Bitcoin and its transparent nature in relation to governmental financial policies is what the former Chess Grandmaster feels we should embrace.


What made me attracted to Bitcoin is I know the magic number is 21 million, and I know that Math is protecting me … With government, they can print another trillion dollars, and that is the biggest challenge. I know we can lead to chaos if we deny government rights to control the financial side of things, but we are already sliding into chaos because the governments are irresponsible. They create all this money, and 85 percent of it ends up in the stock market, it does not find its way to the real economy, we are basically just propping up the stock market. It is another big bubble. With Bitcoin, you have an ordinary man or woman in the street having a knowledge of the process.

Garry Kasparov: Reach for the Moon (Again)

The dichotomy of today’s sentiment towards technology is brilliantly outlined by Kasparov when he makes his iPhone 11 and Apollo 11 comparison. We have untapped potential with the technology we see today, yet we are not adventurous enough to embrace it.


Today, anything new, anything that upsets the status quo, is treated with suspicion at best or fear at worst. I sense this at conferences I talk at — a combination of anxiousness and fear, sometimes curiosity, because people recognize we are gradually moving into a new era were human-machine collaboration will become a dominant factor and they don’t know how to handle it.

For the grandmaster, he would rather have us dreaming big — like the 50s and 60s — and embracing wild ideas that can be achieved with technology, rather than trying to quash and fight against the machines.

Bitcoin hits a 6-month low after extending its fall for an 8th straight day as China clampdown on crypto

Bitcoin hits a 6-month low after extending its fall for an 8th straight day as China clampdown on crypto

Bitcoin on Monday sank to its lowest level since May, dropping below a key $7,000 threshold.

It fell to $6,575 at around 1 a.m. in New York (2 p.m. Hong Kong) as the world's largest cryptocurrency extended its losing run for an eighth straight day.

Reasons for the drift are unclear, but one analyst pinned the drop on China pessimism.

On Friday, the People's Bank of China told businesses that are involved with crypto to correct any "improper actions," according to Bloomberg.

Bitcoin on Monday sank to its lowest level since May, falling below the key $7,000 threshold as the world's largest cryptocurrency extended its losing run for an eighth straight day.

According to Markets Insider data, bitcoin fell to $6,575 at around 1 a.m. in New York (2 p.m. Hong Kong), before rising to $6,767 at 4 a.m.

Bloomberg, which used data from Bitstamp, reported that the eight-day losing streak tied a for the currency's record fall in 2014.

"The market is so opaque if not damn right impenetrable," said Neil Wilson, chief markets analyst at Markets.com "But it does seem that the China optimism has gone and the market has rolled over as a result."

He added: "From a technical perspective we've blown out key support on the 61% Fib level of the big move up and now we may well see $5k before long ($5400 is the next major Fib line and the last line of defence.) If that is reached then we look to $3k again."

Bitcoin has rallied this year, rising 82% since the start of 2019, and even with the recent fall, the cryptocurrency is 69% higher than it was one year ago.

"There does not appear to be a single trigger for the sell-off, but it does come after a period of ongoing market uncertainty and we are seeing investors starting to look to the year end and closing positions which they are unsure about," said Marcus Swanepoel, CEO of Luno, a UK crypto buying and storage firm. 

China is clamping down on crypto

China has been cracking down on cryptocurrencies since 2017, according to the Wall Street Journal, but in the last week this ramped this up.

On Friday the People's Bank of China told businesses that are involved with crypto to correct any "improper actions" according to Bloomberg, while the Journal reported that the PBoC "warned investors not to confuse blockchain technology with virtual currencies."


Bitcoin on Monday sank to its lowest level since May, dropping below a key $7,000 threshold.

It fell to $6,575 at around 1 a.m. in New York (2 p.m. Hong Kong) as the world's largest cryptocurrency extended its losing run for an eighth straight day.

Reasons for the drift are unclear, but one analyst pinned the drop on China pessimism.

On Friday, the People's Bank of China told businesses that are involved with crypto to correct any "improper actions," according to Bloomberg.

Bitcoin on Monday sank to its lowest level since May, falling below the key $7,000 threshold as the world's largest cryptocurrency extended its losing run for an eighth straight day.

According to Markets Insider data, bitcoin fell to $6,575 at around 1 a.m. in New York (2 p.m. Hong Kong), before rising to $6,767 at 4 a.m.

Bloomberg, which used data from Bitstamp, reported that the eight-day losing streak tied a for the currency's record fall in 2014.

"The market is so opaque if not damn right impenetrable," said Neil Wilson, chief markets analyst at Markets.com "But it does seem that the China optimism has gone and the market has rolled over as a result."

He added: "From a technical perspective we've blown out key support on the 61% Fib level of the big move up and now we may well see $5k before long ($5400 is the next major Fib line and the last line of defence.) If that is reached then we look to $3k again."

Bitcoin has rallied this year, rising 82% since the start of 2019, and even with the recent fall, the cryptocurrency is 69% higher than it was one year ago.

"There does not appear to be a single trigger for the sell-off, but it does come after a period of ongoing market uncertainty and we are seeing investors starting to look to the year end and closing positions which they are unsure about," said Marcus Swanepoel, CEO of Luno, a UK crypto buying and storage firm. 

China is clamping down on crypto

China has been cracking down on cryptocurrencies since 2017, according to the Wall Street Journal, but in the last week this ramped this up.

On Friday the People's Bank of China told businesses that are involved with crypto to correct any "improper actions" according to Bloomberg, while the Journal reported that the PBoC "warned investors not to confuse blockchain technology with virtual currencies."


Poster Speaks

Poster Speaks/box

Trending

randomposts