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How You Can Spend Your Bitcoin Fortune wisely

How You Can Spend Your Bitcoin Fortune wisely

http://bargeldwillkommen.com/wp-content/uploads/2014/06/BellaVista_sample.jpgLet’s face it: Having only crypto will not make for a good life. And crypto now is high, very high. A correction is in the cards, so why not lock in the insane profits and convert it to something you can touch, see, feel and use? At  a bargain?

A friend of mine is offering this one-of-a-kind real state in the Caribbean, a true mansion, your neighbors will be Schmid from Google, and other hi-flyers. Cabarete, one of the six important surf and kite surf locations in the world is just 5 minutes by car.

He is very motivated to sell as he needs to go back to Europe to take care of his elder parents.

Go and have a look for yourself

Or here first a video:

 

Turning Back the Clock: Investor Pays Almost $20,000 a Bitcoin in Trading Gaffe

Turning Back The Clock: Investor Pays Almost ,000 A Bitcoin In Trading Gaff

Due to a glitch this week, a small Brazilian cryptocurrency exchange turned back the clock selling cryptocurrency at 2017 prices which finally hit USD 19,000 by the end of the day.

The problem was down to a local exchange TemBTC selling to a trader who placed a large market order, which effectively “cleaned” the platform’s thinly-traded order book. Records indicate that Bitcoin was also bought for USD 16,000, USD 13,000, and USD 10,000 before mirroring the 2017 peak rate.

TemBTC’s founder Renato Abreu said that the order was placed by “someone with little knowledge who issued a large market order.” The episode saw the trader pay a price above that of bitcoin’s all-time high on Brazilian exchanges, which was of USD 18,900 in December of 2017.

Luckily for the trader, he was buying a small amount purchasing 0.0047 BTC for 340 Brazilian reals, which at the time was worth about USD 91 rather than its value of less than USD 15 on other local exchanges. At that price, a Bitcoin would have cost the buyer over USD 19,400.

Brazil has experienced a groundswell of interest in cryptocurrency despite the country’s new president, Jair Bolsonaro, recently shutting down an indigenous cryptocurrency project. Bolsonaro’s pledge to open the “black box” of contracts and projects by state-owned economic development bank BNDES and other institutions does not augur well for the country’s indigenous population, who stood to gain from the issue of their own regional cryptocurrency as part of an innovative project to support minorities.

TemBTC, like other exchanges, has gained much encouragement from the rising levels of cryptocurrency trading in Brazil, with their daily trading volume reportedly hitting 2,000 BTC recently. Abreu indicated that the volume increase has been due to the “registration of large players” on the exchange.

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Istanbul Cryptocurrency Firm Loses $2.47 Million, Hackers In Custody

Istanbul Cryptocurrency Firm Loses .47 Million With Hackers In Custody

An undisclosed cryptocurrency exchange in Istanbul, Turkey was hacked this week of a reported USD 2.47 million.

The company was attacked by a group which has now been detained by Turkish authorities after a nationwide investigation across 8 provinces, and so far has only recovered USD 256,000 of the stolen funds.

The exchange alerted the authorities at the time, reporting that a large amount of Bitcoin, Ethereum, and XRP had been stolen. The Istanbul Cybercrime Branch Officer later clarified that two companies had been targeted in a theft which amounted to 13 million Turkish lire (USD 2.47 million). The stolen funds had been transferred from both companies’ wallets into wallets in the hackers’ possession.

It transpires that hackers had been using the ‘Player Unknown’s Battlegrounds’ (PUBG) online video game as a means of communication. It is clear that the compromised security of both companies could have been avoided if the necessary security measures had been incorporated into their trading systems, an issue which often befalls smaller exchanges, despite warnings from regulators.

Most larger exchanges have far better security, which makes the success rate of such hacks uncommon, limited to smaller exchanges without rigid security procedures. However, the recent misfortunes of QuadrigaCX prove that no measures are completely infallible after CEO Gerald Cotten died having moved funds from the company hot wallet into cold storage for security purposes, protecting his clients’ funds from potential hackers.

The now insolvent crypto exchange QuadrigaCX was left unable to access USD 190 million of funds stored in the cold storage due to the CEO having sole responsibility for the private key.

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Ripple’s Brad Garlinghouse Slates JPMorgan’s JPM Coin as Lacking Innovation

Wall Street banking giant JPMorgan’s announcement of its new stable coin JPM Coin, has Ripple’s boss Brad Garlinghouse criticizing its “closed network” lack of innovation.

JPMorgan says it sees potential in using digital coins to reduce risk and enable instant transfers, despite JPMorgan’s chief executive Jamie Dimon criticizing Bitcoin since it emerged as the industry’s flagship cryptocurrency.

The bank says it has always “believed in the potential of blockchain technology”. “We are supportive of cryptocurrencies as long as they are properly controlled and regulated,” says Umar Farooq, JPMorgan’s head of Digital Treasury Services and Blockchain. The new JPM coin will be transferable between client accounts at the bank, who will then be able to redeem them for US dollars pegged at parity with the coin.

With the arrival of JPM, the volatility of Ripple’s XRP is brought into question and certainly draws obvious comparisons, to which Garlinghouse has reacted by saying there is nothing innovative about JPMorgan’s final arrival into the cryptocurrency space, arguing:

“As predicted, banks are changing their tune on crypto. But this JPM project misses the point – introducing a closed network today is like launching AOL after Netscape’s IPO.”

His comments very much echo the sentiments illustrated in an article he wrote two years ago called “The Case Against BankCoin,” in which he argued that banks should be using XRP as the obvious independent digital asset, claiming they offered “universality” which bank coins did not:

“It goes back to the fundamentals of what makes digital assets unique and special – they’re universal currencies, meaning anyone can use them as units of value anywhere in the world. That universality gives digital assets global reach and the ability to settle much faster than traditional assets.”

Clearly, Ripple’s executives would argue that users of XRP also has the added option to speculate, holding on to the currency in the hope of trading later at a higher value; compared to bank coins which will only have a fixed settlement value based on parity with the US dollar.

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13% of Online Shoppers Going Crypto With 700% Growth since 2013

A recent survey has pointed to the increase in online shoppers using cryptocurrency for electronic payments, reporting growth of 700% since 2013.

According to Kaspersky Labs, 13% of shoppers have used cryptocurrency for making payments online, their recent survey of 12,000 customers in 22 different countries has shown, and the trend is clearly upwards. Kaspersky commented:

The majority of retailers are now happy for us to use whatever payment method we prefer in order to stop us from going elsewhere. From credit card transactions and bank transfers to cryptocurrency, subscriptions, and loyalty points, we can pay for goods and services in more ways than ever before.”

However, paying in this way still has problems which need to be addressed in the future. In the past, networks were trusted for zero-confirmations, but recent attacks against some of the coins have made vendors less enthusiastic. More coins are now available other than Bitcoin for these kinds of online payments with Bitcoin Cash (BCH) allowing SMS payments, and Verge (XVG) and ReddCoin (RDD) now offering small-scale payment options. Bitcoin’s Lightning network still remains a fast way of settling purchases online.

The profusion of Bitcoin ATMs, often in the most unlikely locations around the world, continues to offer shoppers, who prefer a face to face “trawling” the store option, the opportunity to instantly trade their BTC for cash. Recently New York, one of the world’s major shopping venues has given crypto users the opportunity to