Is Plustoken to Blame for Bitcoin’s Sell-Off?

Armchair theorists love postulating the reasons behind bitcoin’s latest price rise or sell-off. From China FUD to exchange hacks, anything and everything is fair game for blame. Plustoken is the latest bitcoin bear-maker that’s being credited with the last three months of downward price action. But is the revenue from a ponzi coin really responsible for bitcoin’s drop, or are there broader forces at play? Also read: US Judge Denies Customer’s Plea to Quash IRS Bitstamp Inquiry Anatomy of a Scam In June, the ringleaders of Plustoken were arrested by…

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Despite St. Louis Branch Warnings, New York Fed Pumps $108 Billion Into US Economy

On Wednesday, November 27, the U.S. Federal Reserve pumped $108 billion into the American economy using overnight repo tactics and 15-day repos. The central bank explained the move will stimulate more liquidity into the faltering U.S. economy, but economists from the St. Louis Federal Reserve branch say too much money-printing could lead the country into “economic ruin.” Also read: US to Strictly Enforce Crypto Rules Similar to FATF Guidelines New York Fed Injects Billions Into the Financial Sector The Federal Reserve has been pumping money into the American economy for…

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US Judge Denies Customer’s Plea to Quash IRS Bitstamp Inquiry

A Washington Western District Court judge has rejected petitioner William Zietzke’s appeal to stop the U.S. Internal Revenue Service (IRS) from accessing his Bitstamp trade data. An IRS summons invoked Zietzke to file a petition to quash the tax agency’s investigation into his private accounts. Even though the presiding Judge John Coughenour believes the IRS summons is “overbroad,” he still denied Zietzke’s petition. Also read: IRS Dispels Crypto Tax Confusion Washington Judge Will Allow IRS to Summons Bitstamp Over a Customer’s Transactions in 2016 William Zietzke filed a motion to…

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Op Ed: Why We Can All Feel Thankful for Bitcoin

Thanksgiving Day is the perfect opportunity to turn our attention to the people, events and things that make our lives better and offer us reasons to feel grateful. While meeting family members around the dinner table is an excellent way of expressing appreciation, those of us who irreversibly fell down the Bitcoin rabbit hole may have a few extra reasons to show gratitude.  Why should one feel thankful for Bitcoin? Whether we like it or not, it has changed our views on finance, politics, law and economics. The simple act…

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US Government Worried Crypto Can Shift Power to Private Sector

Cryptocurrency is one of the top issues for the U.S. Treasury. Particularly, the Treasury is worried decentralized cryptocurrencies can shift some functions away from the government to the private sector and raise the issue of self-government, according to Deputy Secretary of the Treasury Justin Muzinich. Also read: US to Strictly Enforce Crypto Rules Similar to FATF Guidelines Power Shift, Self-Government Deputy Secretary of the U.S. Treasury Justin Muzinich discussed the Treasury’s priorities at the annual conference of the Bank Policy Institute (BPI) in New York last week. One area he…

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Bitcoin ATMs Installed at 5 Major Malls in the US

After installing a bitcoin ATM at Miami International Airport, Bitstop installed cryptocurrency ATMs at five major malls in multiple U.S. states. The malls are operated by Simon Property Group, the biggest shopping mall operator in the country. Customers can buy bitcoin while doing their Black Friday and Christmas shopping. Also read: Crypto ATMs Proliferate – 6,000 Installed and Counting Bitcoin ATMs at Simon Malls Miami-based bitcoin ATM producer Bitstop announced on Tuesday that it has installed bitcoin ATMs at five major malls in the U.S. One is located in California…

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Another Bank Run Highlights China’s Brewing Financial Crisis

A regional lender has become the latest victim of the growing liquidity crunch in the world’s most populous country. Yingkou Coastal Bank, operating in the northeastern Chinese province of Liaoning, is the second institution within less than a month to see its financial stability threatened by frightened savers. That happens while small Chinese banks are becoming heavily reliant on their depositors’ money. Also read: Gold and Silver Follow Similar Trend to Bitcoin, React to News About China Cash and Officials Calm Down Savers The bank run at Yingkou followed rumors…

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Illegal Bitcoin Transactions Occurring on the Dark Web

The Worldcore.trade European crypto exchange conducted its own research seeking an answer on whether in mid-2018 Bitcoin transactions can be considered the currency of hackers, drug addicts and weapon traders. In January 2018 two independent groups of researchers published the results of their evaluation of Bitcoin involvement in sale and purchase transactions of illegal and criminal goods online. Especially, in its most concealed and mysterious parts of the Dark Web – the Darknet Marketplaces (DNM). They are an equivalent of Ebay, Amazon and Alibaba with far more particular and also…

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