A 24-year-old American Citizen Was Caught on Illegal Trading in Cryptocurrency 252

Nowadays more and more often governments around the world, and particularly the government of the United States where the incident occurred, face cryptocurrency traders who sell BTC, ETH and other coins at face-to-face meetings with buyers and do not report their trade to the Ministry of Finance, thereby bypassing the state control, which should license every trade operation if its amount exceeds $10,000.

A US citizen, 24-year-old Eldon Stone Ross was caught on one of these illegal transactions. The man sold cryptocurrency in the amount of one and a half million dollars to an agent of special services under cover.

Ross exchanged fiat money for cryptocurrency and vice versa for a total of $40,000, which he must pay to the state according to the court decision.

“We don’t see many of these cases,” said Bert Glenn, the assistant U.S. Attorney who prosecuted the case in Philadelphia. “It’s the first I’ve done here.”

Besides paying $40,000 to the state, Eldon Stone Ross will spend one year and one day in prison. It is worth noting that this is not the first imprisonment of this fellow. In 2014 Ross was arrested for drug trafficking, which he received 23 months in a Chester County jail for.

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The Viewers of Adult Videos on Pornhub Will Receive Cryptocurrency Rewards 184

Pornhub

The company Tube8, owned by the popular adult entertainment site Pornhub, is planning to move onto blockchain and tokenize the platform completely. To do so, it will be cooperating with Vice Industry Token.

The visitors of the Tube8 will soon get a chance to receive tokens for performing certain activities on the platform.

The purpose of this upgrade is mainly keeping the viewers. The representatives of Tube8 believe that a regular viewer just watches a couple of videos and leaves, whereas if he/she can potentially be rewarded for doing this, it will be encourage the person to register an account or at least return to the site afterwards.

We would like to remind you that Pornhub has recently started accepting crypto as a payment option for its premium account.

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Buterin, Winklevoss and Others: The Future of the Digital Currency World According to Major Crypto Personalities 944

experts opinions on crypto

The crypto world has entered the new stage of its development, it has always been volatile, but these couple of weeks have been absolutely crazy: coins are jumping up and down, Bitcoin ETF is on its way, blockchain is taking over the world.

No doubt, crypto specialists and financial experts have a lot to say. Today we came up with a compilation of sayings from the stars of the cryptocurrency universe that we found particularly interesting and important.

The CEO of the crypto exchange Gemini, Tyler Winklevoss believes that the acceptance of cryptocurrency in the world as a means of payment equal to fiat will not happen in the next couple of years:

The vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.

Pantera Capital’s CEO is way more optimistic on this issue. He sees great potential in the blockchain technology, and digital coins, according to him, are “superior form of currency.

Ethereum’s founder Vitalik Buterin wants cryptocurrencies to become more user-friendly and common in the everyday life. He also thinks it may become possible only in case the proper regulatory framework for crypto is developed by the state governments.

I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash,” he said.

The last, but certainly not least, is the CEO of BitMEX, Arthur Hayes, who has some serious doubts concerning Ethereum. According to his calculations, the price of the world’s #2 coin will drop lower than $100.

It is this moment,” he added, “that Ether goes from a 3-digit to a 2-digit shitcoin.

Although we are sure that experts know what they are talking about, the crypto world is way too unpredictable. We can only wait and see whether the abovementioned predictions turn out to be true or not.

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Andreas Antonopoulos Criticized Bitcoin ETF 723

opinion on bitcoin etf

The well-known author of books about Bitcoin and the founder of his own Bitcoin-business Andreas Antonopoulos published a Youtube video where he expressed his opinion about Bitcoin ETF and explained why they cause so much sensation.

I’m going to burst your bubble. I know a lot of people really want to see an ETF happen because ‘too the moon’ and ‘lambos’ and all that. I think it’s a terrible idea. I still think it’s going to happen… I’m actually against ETFs,” he said.

Antonopoulos explained that he understands why many people are so impressed by the idea of Bitcoin ETF:

Everybody’s so excited about ETFs because what we’ve seen in other markets is that when an ETF becomes available—as we saw in gold—the price really increases dramatically as suddenly that commodity becomes available to a lot more investors and these investors pile on. But the other side of it is that there’s always these claims that the commodities markets are heavily manipulated and opening up these exchange-traded instruments only increases the ability of institutional investors to manipulate—especially [in the case of] large market makers—the prices of commodities, not just in the markets where it’s traded as an ETF but more broadly,” he clarified.


We remind you that the SEC postponed the decision upon Bitcoin ETF until September.

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The Former CEO of Paypal: Bitcoin Is Eventually Going to Go A Whole Lot Closer to Zero 701

bitcoin's future is not bright

The ex director of Paypal Bill Harris is known for his scepticism and harsh comments aimed at Bitcoin. He even called it “the greatest scam in the history”. This time CNBC interviewed Harris to find out whether his opinion on the world’s #1 digital coin has changed.

According to the businessman, Bitcoin is supposed to be “instant, free, scalable, efficient, secure, globally accepted and useful”, and it fails to fulfill all of those characteristics. Harris believes that there is “no value” in BTC.

He has also mentioned that there is no need in solving the problem of Bitcoin scalability, because we don’t need Bitcoin at all.

Look how difficult it is to get money from one country across the border to another. It’s slow, it’s expensive, it’s all those things. Agree. You don’t need Bitcoin, you don’t need XRP, you don’t need any of that to solve that problem. What you need is faster networks.

Unlike many of his colleagues, Bill Harris has way more trust in conventional fiat currencies due to their relative stability which cannot be said about Bitcoin.

In conclusion he summed up his thoughts by saying:

Bitcoin makes no revenue, no profitability.

Frankly speaking, the current CEO of Paypal Dan Schulman agrees with Harris on this issue, although Paypal might change its opinion on BTC if it becomes more stable.

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The SEC Has Shut Down Another Scam Project and Fined It $30 Thousand 460

sec shut down a scam

Although the new advisor of the Securities and Exchange Commission sees great potential in cryptocurrency, the organization keeps finding and liquidating suspicious projects and scams. This time the time has come for the company Tomahawk Exploration LLC.

Tomahawk promised its investors to be an intermediary and convert their funds into the shares of the company specializing in oil production. The prices of oil would go up, and the investments would grow correspondingly.

It does sound tempting, but the ICO turned out to be just another scam in the list of the SEC. The Commission has shut the company down with a fine of $30k, also the ex CEO of Tomahawk is not allowed to hold any leading positions of any enterprise or own any company shares.

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The Bitcoin Application from Square Is Now Available in All Fifty States of America 484

square is available all over america

Buying and selling Bitcoins through the Cash App from Square has become possible in all US states.

We remind you that the American technology company Square, Inc. allowed the purchase and sale of Bitcoin for all US citizens in January of this year. The exception was Wyoming, New York and two other states because of the difficulty in regulating the issue of the cryptocurrency. Later, Square received a certificate from BitLicense, which allows it to work legally in New York.

In late spring of this year the number of Cash App users exceeded 4 million people.

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