$170,000 in BTC Have Been Stolen from a Resident of Taiwan

Tai became the first victim of intruders in the country, whose main purpose was cryptocurrency. The Taiwanese arranged a meeting to sell his 18 BTC for cash, Finance Magnates reports.

The unknown person contacted Tai and arranged a personal meeting in Taichung City, during which he agreed to exchange cash for Bitcoin.

However, Taiwanese and his friend met three unknowns on the spot. After Tai demonstrated on his smartphone that he really has 18 BTC, the criminals attacked and beat both of them.

After that, the attackers forced Tai to transfer Bitcoin to them, at that time it cost about 5 million Taiwan dollars ($ 170,000). According to the victims, after that, the intruders forced them to drink a significant amount of Gaoliang liquor in order to create the appearance of a drunken brawl.

Fortunately for Tai, the witnesses of the incident called the police. Arriving at the scene, law enforcement officers detained one of the intruders, the other two disappeared, but were detained later: one of them even managed to escape to a neighboring island. According to the police, this was the first bitcoin robbery in the country.

Subsequently, the fourth suspect, who was not present at the meeting, was detained, he is accused of organizing a robbery. At the moment it is not known whether the stolen BTC were returned to their owner or not.

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Bitcoin’s Price in 2019: Forecasts and Opinion of Experts

Attention of many people around the world is focused on the Bitcoin price. No one can say for sure, where it will go next year, or moreover in a few years. Some people believe, that the cryptocurrency industry has already reached its maximum, and all that we are waiting is a continuous decline of value. But there are experts who are sure that the maximum marks of BTC is only beginning and we are expecting for the new heights in the future. Well, let’s try to look into the matter and analyze the words of leading financial experts of the world.

1. Analysis of the current situation

As we all remember, the capitalization of the cryptocurrency market reached its historic maximum 831 billion dollars in January 2018. After this, a deep and prolonged correction has started, which partially continues until now. At the time of writing, the market capitalization is 107 billion dollars, the Bitcoin price has fallen in 6 times, and many coins have become cheaper in 10-20 times.

Source: CoinMarketCap

At first glance, everything seems to be bad and prospects are rather vague. But what if we tell you that everything is absolutely opposite and now it is the best time to invest in cryptocurrency? We are ready to back up our words with concrete facts about which very few people talk. 

  • Continuous growth of network`s hashrate. Despite the fact that the price of first cryptocurrency shows negative profitability throughout 2018, the total computing power of Bitcoin network is constantly growing. It means that miners are increasing their production capacity. And it is not about small or medium farms, since their share is negligible on the general background.

Source: https://bitinfocharts.com/

After analyzing this graph, it appears that big miners continue to invest hundreds of millions dollars in equipment. This means that major players continue to believe in further development of the industry, and therefore in future growth of the BTC rate.

  • Infrastructure development. In 2018, investor`s interest in cryptocurrency faded a little, but this did not affect infrastructure development. Every day, the number of places where you can pay with cryptocurrency is growing (paying taxes in the USA, real estate, online shopping, transport tickets, physical points of sale and more). It is a very good trend, because the more places you can pay with BTC, the more people will be involved in the digital economy.
  • The acceptance of cryptocurrency at the government level. In 2018, for the first time in 10 years of Bitcoin’s existence, they started talking about it at the international level. If earlier none of the world leaders paid enough attention to this topic, then this year at the G20 summit this issue was put on the agenda. World leaders agreed that it would be pointless to forbid cryptocurrencies and no one would do that. On the contrary, there was decided to develop an international legislative framework.
  • It’s still possible to become a “pioneer”. If you go to the website bitinfocharts.com and take a look how many Bitcoin wallets are registered currently, it is possible to see the number that does not exceed 23 million. Taking into account that more than 15 million of them are wallets, which balance does not exceed $100. The population of our planet now is about 7.6 billion people. Let’s take 40% of insolvent people (children, pensioners, people who live in a third world, etc.) – it comes out near 4.5 billion people. After comparing these numbers, it appears that there are still very few people who are really involved in the cryptocurrency industry. That means, a global large-scale acceptance of technology does not exist yet. This gives us a chance to become pioneers. After cryptocurrency becomes a commonplace for any person (like, for example, a credit card in our days), we will reap the benefits. Most likely you will hear such expression in future: “Why didn’t I buy Bitcoin in 2018?”.

2. Expert forecasts for 2019-2020

Now let’s see what famous experts say about the near future of Bitcoin, namely about its price.

Mike Novogratz, CEO of Galaxy Digital, believes that the start of Bakkt and Fidelity Digital Assets platforms will affect on entry of new investors into the cryptocurrency market. According to Mike`s opinion, now the most important point of resistance is the mark of $ 3,880. If we overcome it, then the rate may reach $ 9,000 till the new year. The next important mark is $10,000. After overcoming it, the price of BTC 2019 will go up sharply. Novogratz has no doubt that the next year rate of Bitcoin will overcome its historical maximum of 20,000 dollars.

Tom Lee, is one of the leading analysts of Wall Street. Previously, he stated that until the end of 2018, the rate of Bitcoin will overcome the mark of 25 thousand dollars. But after a few months, namely in July 2018, he slightly revised his views and named the new price of Bitcoin 2019 – 22 thousand dollars.

The forecast of John Mcafee is the most bravest of all existing on the market. He believed that by December 2020, the price of one bitcoin will be $1,000,000. Moreover, John is confident in his forecast like no one other. In his view, in the upcoming future, Bitcoin will replace dollar, which will cause huge demand.

3. Conclusion

After analyzing the current situation and the words of industry experts, we can conclude that Bitcoin and cryptocurrency in particular have a great future. Now we are only at the beginning and in the next decade, cryptocurrency will change our life. It should be noted that this article is not a call for investing in cryptocurrency. These are just our subjective thoughts about the future development of the industry. Remember, any investment entails a certain risks.

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New Trend: Why Companies Replacing the Term “Blockchain” to “DLT”

Due to harmful hype to innovative chain of transaction blocks, some companies use “DLT” instead of “Blockchain”, which stands for Distributed Ledger Technology.

The term replacing begins with that some organisations, in their advertising and informational campaigns, decided to change the word “Blockchain” to “DLT”. Such a move connected with the hype about the blockchain technology. Therefore the companies, in order to take some of the negative from them,went on that kind of cunning. In this regard, an independent analytical company Forrester Research has made their own investigation.

Company analytics point out, that “Blockchain” is a trend-word of crypto industry, which many crypto projects abused. The word is used even when the technology isn’t used in the product. The usage of “Blockchain” for the hype invalidate the technology itself.  Since, the blockchain in general is associated with cryptocurrency, when the company which are not related to the world of cryptocurrency, decided to go away from the naming technology and started to use the word “DLT” , in order not to associate their activity with the digital money.

Meanwhile, the word “Blockchain” overtakes the word “Cryptocurrency” by frequency of requests in the world search, according to the Google Trends.

Source:Google Trends

We want to remind you:

The Number of Searches for “Bitcoin” in Google Has Skyrocketed

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800% Increase In Money Laundering Cases Connected To The Cryptocurrency

According to the report published by the news media outlet “The Japan Times”, the National Police Agency in Japan registered about 6000 cases of money laundering connected to the cryptocurrency industry. The figures were taken from the research in the period from January to October 2018.

The amount of cases has raised showing an 800% increase in compare to the period from April to December 2017.

An NPA official commented on this situation:

“We have seen some large-scale cryptocurrency thefts, and operators are believed to be scrutinizing transactions more rigorously.”

In the report, NPA also emphasized on the vulnerabilities of the cryptocurrency transactions. Anonymous transactions can be transferred to overseas, due to different cryptocurrency regulations in various countries, it is hard to track the culprit.

We remind you

How to Determine Whether a Cryptocurrency Is Reliable and Invest Your Money Properly?

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Lightning Network of Bitcoin Blew Up: A 1600% Increase Since Last February

The BTC Lightning Network which was created to fight with the issue of Bitcoin scalability is developing at a huge pace. The story began last February. Back then, the network only had 1 thousand channels, worth 4 BTC per channel.

The network started growing. In August it already had 11 thousand channels with a price of 97 BTC per channel. We remind you:

The Number of Channels in the Bitcoin Lightning Network Exceeded 11 Thousand

And then Bitcoin Cash hardforked, and things went wild. The Lightning Network literally blew up. At the time of writing, the number of its channels equals to 16677. This means an increase by 1600% since the February of 2018.

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Bitcoin Is Plummeting Down: The Price Fell Lower than $3.4 Thousand

It seems like Bitcoin decided to end the year of 2018 with a record low exchange rate. The coin dropped by more than 11% in the last 24 hours and fell beneath the price point of $3400. Currently, it remains extremely unstable.


Source: CoinMarketCap

The market cap of BTC has also dropped significantly. Most Bitcoin holders are now hurriedly converting their BTC funds into USD or other more stable cryptocurrencies. Unfortunately, it seems like the downtrend of November keeps worsening in December. Hopefully, the new year of 2019 will bring a fresh start for Bitcoin and crypto industry as a whole.

We remind you:

November Has Not Been Quite Lucky for Bitcoin: The Monthly Performance

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Cryptocurrency Prices Today, December 7: BTC Dropped by 12% in a Day, Cryptocurrency Collapsed

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost a record 12.4% over the past 24 hours. The price at the time of writing is $3377 per coin.

Following BTC, cryptocurrencies fell in price:

Bitcoin Cash lost 19.11% over the past 24 hours and costs $110 per coin;

Ripple fell by 12.3% and has a rate of $0.30;

EOS minus 25.04%, and its price is $1.70;

Litecoin decreased by 14.9%, and its cost is $25;

Cardano lost 17.72%, and its value is $0.028;

Stellar became cheaper by 17.42% and costs $0.10;

IOTA dropped by 17.53%, and its value is now $0.24;

Dash fell by 21.65%, and its price is $61;

Monero lost 2.18% and costs $45.

Over the past 24 hours, Ethereum dropped by 17.63% and continues to decline. The coin rate crashed down to $84, according to Coin 360.

The total market capitalization fell to $107 billion. Bitcoin accounts for 55.2% of the total volume. In monetary terms, it is $59 billion.

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