Saturday, November 28, 2020

Tag: Litecoin

READY FOR THE GLOBAL RESET? — Lynette Zang

from SGT Report:

If you use the new Brave browser for 30 days, they’ll fund my channel with a little bonus! It’s 2X FASTER than Chrome or Safari, FREE AND PRIVATE! (Make sure you INSTALL it after downloading it) https://brave.com/sgt200

Lynette Zang returns to SGT Report to discuss the reasons she thinks the time for a global economic reset is drawing near. Thanks for tuning in.

What Will You Be Holding When The Dollar Dies?

from SGTreport:
Thanks for tuning in for this wide ranging update with the founder of Smaulgld, Louis Cammarosano.

China’s Debt Bomb & Basel III: Economic Day of Reckoning

from SGTreport:

The China debt tsunami could bring down the world economy, and Basel III implementation on March 31st could bring down some heavily leveraged international banks. It’s a crazy time in which we live, Bob Kudla joins me to discuss.

CRYPTO SEA CHANGE? Soros, Rothschild, and Co Flock to Cryptocurrency

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Soros, Rothschild, and Big Institutional Investors are Entering Bitcoin Market

by JP Buntinx, News BTC:

The cryptocurrency industry has always attracted speculators and market makers. Institutional investors have not shown much of an interest in Bitcoin until very recently. Slowly but surely, the tide will turn in favor of all cryptocurrencies. Financial moguls, including George Soros, the Rothschild family, and others, now have their sights set on Bitcoin. It makes for an interesting development, albeit the potential impact has yet to be determined.

Is Facebook’s Ban On Crypto Ads In Anticipation Of A Litecoin Integration

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from Zero Hedge:

In early January rumors started spreading about whether Facebook would either adopt Litecoin or create its own cryptocurrency. On Tuesday, Facebook announced that it would block all cryptocurrency and ICO advertising on its platform.

Coincidence? Let’s look at the details.

Between December 6th and 17th of 2017, Litecoin (LTC) tripled in value, from $102.93 to $360.66 according to CoinGecko. Three days after it started to decline from its all-time-high, Charlie Lee, the founder of Litecoin announced that he sold off all of his LTC. Since then,Litecoin has been on a mostly downward trend and currently sits at $159.50.

There has been some speculation about whether Lee’s sell-off had an impact on the prices of Litecoin, and there have even been accusations of insider trading, given that he was the Director of Engineering at Coinbase. He denies these allegations and explained that his decision to dump his LTC was to remove any sort of conflict of interest between his influence and any potential gains. Taking the financial gains out of the equation, it stands to reason that Lee may now tweet more freely about his thoughts while focusing on his skills as an engineer.

At the time that Lee sold off his LTC, Coinbase announced the appointment of Facebook executive, David Marcus to their board of directors. David Marcus is the Head of Messenger at Facebook, with expertise in mobile-first products. Prior to that, he was President of PayPal, where he accelerated the overall growth of the company. The appointment of Marcus to the Coinbase board of directors sparked some speculation.

Tom Luongo published the story on December 20, which was later picked up by Zero Hedge and various other publications. According to Luongo, Charlie’s announcement prompted a big sell-off in the wake of Coinbase adding Bitcoin Cash (BCH) to its platform. He saw the negative response from the market as temporary, though Litecoin is still on a decline.

From a technology standpoint however, it’s a promising coin. It’s lighter, faster and cheaper than Bitcoin, is fully capable of smart contracts and according to Luongo, it has a “payment processing layer to facilitate point-of-sale convenience while retaining proof-of-work security.” It has the sort of technology built into it that an organization like Facebook might find appealing.

Two weeks after this speculative article came out, Mark Zuckerberg announced that he’s “looking into cryptocurrency.” In his January 5th announcement on Facebook, Zuckerberg said:

“Back in the 1990s and 2000s, most people believed technology would be a decentralizing force. But today, many people have lost faith in that promise. With the rise of a small number of big tech companies – and governments using technology to watch their citizens – many people now believe technology only centralizes power rather than decentralizes it. There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.

This brings us to today. According to a CNBC article by Kurt Wagner, “Facebook is banning all ads that promote cryptocurrencies, including bitcoin, in an effort to prevent people from advertising what the company is calling ‘financial products and services frequently associated with misleading or deceptive promotional practices.'” In other words, if you launch an ICO, or want to promote a cryptocurrency-related group or business, you’re probably out of luck, no matter how legitimate your business is.

Litecoin founder Charlie Lee previously tweeted that in 2018 there will be “One huge unexpected surprise.”

Read More @ ZeroHedge.com

HODL! The Crypto Sell-off Storm Will Pass… The Data Tells The REAL Story!

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by SGT, SGT Report.com:

I just read this cogent, insightful analysis from my friend Jean-Claude (it makes me feel well traveled just to say his name), and I wanted to share it with you.  It’s GOOD news for crypto HODL’ers, so here goes…

Loved the interview with Craig. Great job! He made a really good point regarding the futures market. Even if they could take the upper hand with the futures, “They just can’t roll them out fast enough to follow the massive buying interest that can quickly move to other coins”. It is not a feasible/sustainable strategy in my opinion. Time will tell if Clif is correct about them shooting themselves in the foot. 

Ok so take a look at this technical chart for bitcoin:

Bitcoin has completed this ABC re-tracement pattern MANY times before and there was no Futures involved at the time. I am not convinced the futures are having the effect they wanted – but i’m keeping a close eye on it. As with previous instances, the ABC retracement is a buying opportunity. Once, the C is completed, we will never see those prices again. Same was true at 5k, 3k, 1k, 800$ etc.  See chart below.

But the really big story in the above technical chart is the “Massive buy volume” candle at the bottom of the chart. As Craig would say, this is not the shoeshine boy and the taxi driver buying bitcoin. This is big money coming in buying hand over fist. This is happening while exchanges and local BTMs are deliberately bottlenecking the simpletons from getting in on the dips. Coinbase and many other exchanges have limit orders in place and will not let you buy your desired quantity. Local BTMs in Ottawa are charging 45% premiums tonight as i am writing this email!!!  See snap shot below.

So really, at 10k bitcoin, if you want to hold one in your wallet today it will still cost you 14 500$. That is the same thing that happens to silver when it flash crashes and the premiums skyrocket in the “real world” (not in the fake paper game world). You’ll remember it was impossible to buy physical silver at 12$….

Also, another thing to note is that Bitcoin, in just looking at the bitcoin/usd chart for the last 3 years, will show you that it has corrected every year between the 4th and 15th of January. This too, was happening when no futures markets were around. Follow this ling to see the charts. So again, i’m still keeping a close eye on the futures but I don’t think the have a major role to play in this current retracement. 

Knowing and understanding all this gives me the intestinal fortitude to not only HODL but to also “try” best they will let me to buy the dips and to lower my dollar cost average. 

Like Craig and you Sean, i also am a BIG fan of Silver and continue to hold physical as a hedge to my cryptos. 

Love you guys. Keep up the great work!

Jean-Claude

Vietnam is Preparing to Legalize Bitcoin

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from Crypto Coins News:

Vietnam is preparing to legalize bitcoin and other cryptocurrencies under a new plan approved by the prime minister.

As reported by VNA, Vietnamese Prime Minister Nguyen Xuan Phuc has asked the Minister of Justice to coordinate with other top advisors, including the State Bank of Vietnam and the Ministry of Finance, to draft a framework for cryptocurrency legalization by August 2018 so that the legal documents could be finalized by the end of the year.

The prime minister also instructed his advisors to assess the best way to tax cryptocurrencies and penalize violations of the regulations. These tasks are to be completed by June and September of 2019, respectively.

The plan is a fulfillment of a 2016 report that the nation was considering taking a more open stance to cryptocurrency and other disruptive financial technologies.

The move toward legalizing bitcoin represents a change of heart from the Vietnamese government. As early as 2014, the State Bank of Vietnam had stated the cryptocurrency was not a valid form of payment or settlement within the nation. The government issued repeated warnings about bitcoin in the years that followed, although it did not prohibit its citizens from using cryptocurrency. Earlier this year, however, the State Bank created a FinTech steering committeeto promote the development of Vietnamese financial technology startups.

Many people anticipate bitcoin will flourish in Vietnam. As one of the world’s fastest-growing economies, many of its citizens now have access to smartphones but have never utilized traditional banks.

Vietnam joins several other nations in the Eastern Hemisphere who have recently begun considering bitcoin legalization. Earlier this month, the National Bank of Ukraine announced it would develop a legal framework for bitcoin regulation, while the Philippines just approved the registration of two bitcoin exchanges. India, however, continues to dissuade its citizens from using cryptocurrency, even as local exchanges have seen demand surge in 2017.