Daily Archives: January 2, 2019

State Senator From Georgia Sent to Jail After Lying About a Crypto Mining Theft

Senator

A Georgia state senator named Michael Williams has been sent to jail after he allegedly lied to the authorities about a theft involving cryptocurrency mining equipment worth $300,000.

According to a piece from The Guardian, the Republican state senator reported a non-existent theft in a falsified police report and even gave a false statement over the matter. Williams alleged that over $300,000 worth of servers and mining equipment had disappeared from his office which was found to be false by the investigating teams.

The prosecutors believe that the legislator was lying and the theft never took place. The mining equipment was used to mine a number of cryptocurrencies. Subsequently, he was indicted on three charges by a grand jury and he handed himself over to the authorities after that.

According to Williams’ attorney A.J Richman:

“Right now, our position is Mr. Williams did not do this… We’re not really apprised of their evidence yet. They haven’t disclosed that. I’m sure they will soon, but at this point, we don’t know what it is they’re saying other than what the indictment says.”

While Williams himself is not a popular figure in the legislature, he did sponsor several cryptocurrency payments related bills over there. This theft, however, raised a few question marks regarding his ethical standing and whether or not he is fit to serve as a state senator in the state of Georgia.

Williams’ case is the first one in which a sitting state legislator was sent to jail due to involvement in a cryptocurrency-related matter.

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BitcoinNews.com Daily Podcast 1 January 2019: Ethereum Overtakes Ripple, 1.1 Million Bitcoin Craig Wright Lawsuit Continues

BitcoinNews.com Daily News Podcast

Listen to the 1 January 2019 BitcoinNews.com Daily Podcast below.

On this edition of the BitcoinNews.com Daily Podcast, we do an in-depth market analysis. Currently, cryptocurrency prices are rising as stock futures crash. Ethereum is the big winner today, and it has overtaken Ripple for the #2 place in terms of crypto market capitalization. Further gains are possible for Ethereum as the Constantinople hard fork approaches in mid-January. We also discuss the lawsuit against Craig Wright for 1.1 million bitcoins, which is proceeding in a Florida federal court.

Follow the Bitcoin News Daily Podcast on AnchoriTunesSpotifyGoogle PodcastsStitcherRadio PublicPocket CastsOvercastCastbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world!

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The post BitcoinNews.com Daily Podcast 1 January 2019: Ethereum Overtakes Ripple, 1.1 Million Bitcoin Craig Wright Lawsuit Continues appeared first on BitcoinNews.com.

Bitcoin Weekly Analysis: A Positive Start for a New Year?

Happy new year! I believe we have productivity and approximation, and now let’s start the weekly analysis for Bitcoin!

Weekly candle closed at $3977. The previous weekly candle is much smaller in size and volumes.

During this week sellers stopped growth from December 15 and tried to change the local trend.

The start by sellers was very good. They tested $3700 almost without problems. If the buyers did not do anything in return there would be a high probability to update the minimum and stop at a price of $3040. In this case, the growth on December 15 meant correction of the entire fall which began on November 18. With such a weak correction, the minimum target for the continuation of the fall is at the range of $3,000.

However, there are several facts that allow me not to choose this scenario as the main one:

1) After sellers’ attempts to fix below the price zone of $3750-3850, buyers aggressively turned this price zone back and now the price is traded over this zone:

cryptocurrency, blockchain,

2) After the buyers returned the price above $3750-3850, the fall has ceased to be aggressive and compared with growth, this fall more resembles correction. If we analyze the marginal positions of buyers, it is clear that during this fall buyers are increasing their positions:

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3) If you look at the volumes on which the growth began and compare them with candles, it becomes clear that the growth prospect is considerably larger than the price range of $4,300-4,400. On November 27,  volumes were large and buyers were aggressively bought. However, the sellers were strong and did not allow such a great rollback:

So for the moment, I have two scenarios.

The first scenario will work if buyers keep a price zone of $3750-3850. Then I expect a minimum growth of $ 4,800 with a final target of $5,400.

The second scenario is a continuation of the fall to 3660 with a maximum target of 3400. After, I will expect growth for approximately the same purposes as in the first version.

On wave analysis, I understand the growth of December 15 as the beginning of the fall correction which began on November 17th. At the price of $4370, the first correctional wave A was finished. After the correction of this wave, I am expecting a wave C, which at the price of $4800 will be equal to the wave A and at the price of 5400 $ will be equal to 1.618 * A:

Therefore, this week critical point is the price zone of $3750-3850. However, according to the current facts in two scenarios, I expect growth with a maximum target of $5,400.

Also, today the monthly candle is closed where we see a large shadow and large volumes. For me it is a sign that the chances of at least a local rollback are very large:

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