Red Fog Crypto Bytes Week 8

Crypto Bytes
DIGESTIBLE CRYPTO NEWS + PODCAST

Slowly “Bitcoin gets in the human brain as something normal. Everyone now finds internet or email normal, while 20 years ago most people would think you are crazy with your internet thingy.”

Bitcoin_puzzler, Reddit

BITCOIN (BTC)

$8,726 +6.5%

CRYPTO CELEBRITY

The Martini Guy: +7.1%

Hey All,

Bitcoin is gaining steam as the price is creeping up on $9,000. Microsoft Excel has recognized Bitcoin as a currency which is valid because it is being used for presidential donations, to pay your phone bill, and sending money through Facebook. Read more below.

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MOON
Who’s up…

Facebook Launching Coin in 2020… Facebook’s calling its cryptocurrency “GlobalCoin” and plans to launch in 12 countries by next March. CEO Mark Zuckerberg made it clear at Facebook’s annual conference: “It should be as easy to send money to someone as it is to send a photo.” Plus, the Winklevoss twins, are involved in Facebook… again.

Bitcoin For President… Eric Swalwell, a United States Democratic presidential candidate for the 2020 elections, has launched a crypto donations campaign. Announced Thursday by blockchain firm The White Company, which is providing the tech for the crypto donations, Swalwell will accept six supported cryptocurrencies.

Pay Phone Bill With Bitcoin… AT&T now accepts Bitcoin and other cryptocurrencies via Bitpay. Bitpay is a cryptocurrency payment processing company. The company currently has thousands of mainstream companies that it offers its services to from Microsoft to Shopify and Virgin. As AT&T now accepts Bitcoin and other cryptocurrencies, do you think we will be seeing other major companies follow suit?

Welcome New York… Robinhood Opens Trading for 7 Cryptocurrencies in New York. New York is unique and problematic for crypto traders because all purveyors must apply for a BitLicense, most notably for companies that are “storing, holding, or maintaining custody or control of virtual currency on behalf of others,” according to NYDFS.

TAKEAWAYS

  1. The use cases for Bitcoin and other cryptocurrencies are expanding as new payment channels and merchants are recognizing them as legit currencies.
  2. AT&T and Facebook are more examples of a major corporations starting to see the benefits of crypto by being able to eliminate processing fees.
  3. New York remains one of the States that is least open to the idea of accepting the legitimacy of cryptocurrencies. Could this be because it is a traditional banking head quarters?

REKT
…Who’s down

Say No To Pro… The U.S. Securities and Exchange Commission (SEC) is suing a Daniel Pacheco, a California resident on charges of selling unregistered securities and conducting a Ponzi scheme disguised as a cryptocurrency. Pacheco sold unregistered securities through IPro Solutions LLC and IPro Network LLC, giving investors “points” which they could theoretically convert to PRO Currency, a digital asset affiliated with the companies. ProCurrency is trading around 0.001 cents down -22.94% as of press time.

Not The One… The Australian Securities and Investments Commission has warned the public that crypto  project OneCoin “could be involved in a scam,” according to a notice released on May 28. The Australian financial regulator has issued an official warning against OneCoin, urging the public to not deal with this company as it is not licensed in Australia.

TAKEAWAYS 

  1. It is highly recommend to do your due diligence before investing in crypto projects. There are over 2500 coins and it is safe to say that their are bad actors in the space.
  2. Most will not yield the expected returns that investors are hoping for based on not being able to achieve what they sought out to build.
  3. Higher risk results in higher returns.
  4. Only invest money you can afford to lose.

LAST WEEK MARKET MOVER’S

COIN OF THE WEEK
Bitcoin SV (BSV)

$120.69 +62.9%

COIN OF THE MONTH
BITCOIN CASH (BCH)

LEADERBOARD
TheLady: +68.7%

678 Fog Tokens

CRYPTO CELEBRITY

The Martini Guy: +7.1%

RED FOG INDEX

+4.6%

BITCOIN (BTC)

$8,726 +6.5%

RF YOUTUBE INDEX

+3.1%

CRYPTO BYTES PODCAST

17 MINUTES
Episode 4: How To Properly Store Bitcoin?

COMING UP THIS WEEK

Everyday

15 Minute Coinbase Coins @ 12pm CST
30 Minute Fan Favorite Coins @ 3pm CST
Top 10 Power Hour @ 6pm CST
Level 0 Challenge @ 8pm CST

Red Fog Crypto Gaming Focus Group
Thursday, May 30 | 6pm-7:30pm
1871 Quaker room
222 W Merchandise Mart Plaza #1212, Chicago, IL 60654Stop in for a focus group regarding the User Experience and design of RedFog.com, a Virtual Crypto Gaming site. Come to 1871 Quaker room for happy hour, play a game and give us feedback. Come and go as you please RSVP

RECENT RESULTS
Top 10 Power Hour
Oddsmkr: +1.19% (view results)
Level 0 Challenge
Dirty30: -0.33% (view results)
Fan Favorite Coins
DonJulio: +2.76% (view results)

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