Bitcoin Price Breakout Imminent - Monero Hardware Wallet - Coinbase Lawsuit - $1T Investment Fund
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So 4 stories today, which we’ll get into right after I tell you that today’s episode is sponsored by Roboform:
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Market roundup
Coinigy
https://www.coinigy.com/?r=16171fe8
Bitcoin ascending triangle and 11306
Monero rising on MoneroV hard fork
NEO falling a bit, potentially due to the recent consensus failure, where an error in one node halted the network, that’s bad btw
Leder support merged by Richardo Spagni
https://github.com/monero-project/monero/commit/c7ace5fa3d412410312e21c55c28068dcd625fef
Coinbase class action lawsuit
https://news.bitcoin.com/class-action-complaint-accuses-coinbase-of-insider-trading/
[red] I actually covered this live if you remember. BCH Hit $9500 and trades went through at that price before the market was frozen.
[orange] This was because we saw a rally in the BCH price leading up to BCH being launched on Coinbase and GDAX.
[yellow] This was the real rub at the time, the lack of communication and forewarning. People said at the time this would lead to lawsuits, now it has.
Coinbase maintained at the time that they have internal guideline that prohibit employees from trading Bitcoin cash for weeks leading up to the launch but that did little to satisfy people.
So it’s Jeffrey Berk v Coinbase in California,
[green ]demanding a jury trial where both parties have a chance to present evidence.
What do you think to this story?
It’s something you might expect from an incompetent startup but not a leading crypto brand with tons of investment behind it.
How can Coinbase, one of the leading companies in the space with the most resources ending up pulling a blunder like this?
Let me know what you think.
$1T fund looks to include cryptos
https://www.wellington.com/en/
So you are in charge of a $1T investment fund and you want to stay ahead of the competition by providing your clients with assets that give the best returns.
That’s the situation Wellington Management find themselves in and they have got wind of this thing called cryptocurrency, don't you know.
They say there were established in 1928 and operate in 60 countries.
https://www.wellington.com/en/facts-and-figures/
Their facts and figures page states that they have over 600 investment professionals.
Also in a February report, the company said their systems were upgraded to enable trading of Bitcoin derivatives. That’s derivatives like futures, not actual Bitcoin.
And they have also started investing in cryptocurrency companies.
Now you tell me.
If cryptocurrencies were a fad, do you honestly believe that such an established investment company would risk their clients money on it?
On the flip side, these guys are not stupid. They are trading futures so they can get exposure to the returns but without having to handle the tech.
And they are investing in companies so they can own a piece of the tech companies as well. They make reference to making investments in companies who are manufacturing Bitcoin mining chips.
Like I always say, when there is a Gold rush, the best person to be is the one selling the shovels.
▶️ DTube
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The channel is certainly getting narrower for bitcoin I wouldn't be surprised if we see a breakout at some point this month
Of course there was insider trading done with bitcoin cash and coinbase. But in an unregulated market is that illegal? This is one of the things that makes the crypto currency market risky. Morally of course it is wrong.
In regards to coinbase I'm still a little upset about the visa debacle from Feb., Not sure if it is quite cleared up on my card yet and if it is I've lost some money. Visa says those transactions incur a "Cash Advance fee" still looking into this, but yes Coinbase is not looking too favourable in my books right now.
If they want to be a leader in the crypto world they need to clean up their stuff so that they can be trusted.
Just quickly reviewing their blog about that Visa thing I see lots of unhappy people posting
https://blog.coinbase.com/joint-statement-from-visa-and-worldpay-for-coinbase-customers-9a6f2ff5f3b3
If anyone has some more info, that applies to my case by all means feel free to share it with me. Thanks!
Very good point. Technically insider trading in crypto is legal since there are not clear regs against it yet.
https://themerkle.com/visa-and-mastercard-now-charge-an-additional-fee-for-buying-cryptocurrency/
NEO went down after the airdrop. Now back to business as usual, ethereum killer will make a huge 2018
As regulatory questions get answered, there will be a rush into these assets as the opportunity outweighs the risk in the sector. There is plenty of money on the sidelines waiting to get into the market from institutional investors that cannot due to regulatory constraints. It may lead to a second FOMO event like late last year. However, it may also lead to a true bubble.
A fair point :)
A Monero hardware wallet sounds good to me too. Maybe I would keep my "public" coins on my ledger wallets and monero on its wallet. If some hardware wallet begins supporting multiple private coins, I could keep them all there together. Although...it would arguably be safer to have a dedicated private wallet for each private coin.
Have a Good Luck
Bitcoin price flirting with key resistance. A potential breakout is forming... HODL!
I am so excited for a Monero hardware wallet. I have gotten close to selling my stake a few times for lack of a good offline storage option I am comfortable with. I would love to have the ability to keep it on my ledger! Thanks for the update, made my day.
Great post
Chris,
Just found your Steemit, brand new here. Love the Cryptoverse YouTube channel, which I usually listen to in podcast form while driving to and from work. Your closing line about the shovel/gold rush relationship is accurate, and I actually think that bloggers, YouTubers, and other content creators are essentially a the new shovel salesmen. You keep the rest of us informed and give us the tools we need to make wise investment decisions. Keep up the great work!