Microsoft recognizes Bitcoin

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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?

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60 Minutes Discusses Bitcoin

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So– okay. (CHUCKLE) Sorry, let me just get this straight. You spent about $800 million on pizza?

Anderson Cooper, Bitcoin’s Wild Ride

One of the exciting things that happened this week was CBS 60 Minutes aired a 13 minute segment on Bitcoin. It has received some criticism as being one sided but still worth a watch. 60 Minutes averages 11 million viewers so this is a good step for mass market adoption.

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Who’s up…

Popularity Contest… Bitcoin is back among Google’s most-popular keywords for the first time in over twelve months. Google Trends tracks search interest for certain terms. Interestingly, the countries that are leading the Google searches are not cryptocurrency powerhouses: South Africa, The Netherlands, Slovenia, Austria, Nigeria.

60 Minutes Aired Bitcoin… Bitcoin was on display for CBS popular show, 60 Minutes. Anderson Cooper reports on how bitcoin was started, where it may go and some of the people who have ridden the cryptocurrency roller coaster over the last 10 years.  Watch.

Takeaways: The 60 Minutes segment on Bitcoin is worth a watch although I think John Oliver on Last Week Tonight was better done. The segment spent a great deal of time interviewing an early adopter of Bitcoin that spent 10,000 Bitcoin on pizza. The last time the Google search result for Bitcoin reached this level was in October 2017, months before it reached all time highs.

REKT
…Who’s down

Mr. Not-so Wonderful…Mr. Wonderful’ Kevin O’Leary, most famously known for his role on Shark Tank, says Bitcoin is essentially a “digital game” and is “worthless.” “People should understand today the hot digital is bitcoin,” O’Leary added. “Tomorrow it could be whatever.”

Schiff’s 60 Minutes Dis… Peter Schiff was not of fan of the 60 Minutes coverage of Bitcoin. Tweeting hours later, “60 Minutes just aired a free commercial for Bitcoin. Great press for Bitcoin owners looking to sell to CBS viewers who may be suckered into buying based on this very one-sided segment. At a minimum CBS owed its audience a healthy degree of skepticism. Very bad reporting as usual!” View Tweet.

Takeaways: I share the name Kevin but not his opinion on Bitcoin as being worthless. Kevin’s investment strategy is similar to Warren Buffett who is also not buying into Bitcoin. Kevin also has a 400 million dollar interest in preserving USD as the global currency. Schiff’s stance on Bitcoin comes at no surprise. He has expressed doubts in the past. The 60 Minutes segment was a bit one sided but wasn’t misleading and there is only some much you can cover in 13 minutes.

LAST WEEK MARKET MOVER’S

COIN OF THE WEEK
NEM (XEM)

$0.08 +69.3%

COIN OF THE MONTH
BITCOIN CASH (BCH)

LEADERBOARD
TheLady: +68.7%

678 Fog Tokens

CRYPTO CELEBRITY

CRYPTO DAILY: +31.2%

RED FOG INDEX

+25.1%

BITCOIN (BTC)

$7,845 +17.4%

RF YOUTUBE INDEX

+19.4%

CRYPTO BYTES PODCAST

17 MINUTES
Episode 4: How To Properly Store Bitcoin?

COMING UP THIS WEEK

 

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Game of Coins: BAT vs. OmiseGo
BAT: +8.71% (50% picked)
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Chewbacca12: +0.16%

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Tim Draper’s Bold Prediction

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“Money is the oldest social network and arguably the strongest.”

– Tyler Winklevoss, 2019

30 days and 30 nights… Back in 2017 when the price of Bitcoin (BTC) crossed $7,600 it only took 30 days to reach its all time highs of $20,000. Bitcoin just crossed $7,800. What will the price be 30 days from now?

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MOON
Who’s up…

Finally Facebook… Facebook rolls back ban on cryptocurrency ads as it ramps up its own blockchain efforts. Facebook will no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.

Bitcoin To $250k… Serial VC investor Tim Draper told FOX Business  in an interview on May 10, Bitcoin (BTC) will have a 5% market share of the entire world by 2023, a single coin would be worth $250,000. “I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin and then I pay my investors in bitcoin,” he continued. Draper then stated: “Because I would then require no accounting, no legal, no bookkeeping, no custody — it would all be done.”

Open For Business… As of today, cryptocurrency is now accepted as payments at tens of thousands of merchants in the U.S. on the Flexa network. Top brands such as Whole Foods, Baskin Robbins, Lowe’s, and Nordstrom will now accept Bitcoin, Ethereum, Bitcoin Cash, and Gemini Dollar.

Takeaways: Corporations can no longer ignore cryptocurrencies. They need to adapt or be left in the dust. Facebook has been a hypocrite in their support for crypto since they plan to create their own coin yet ban crypto advertising. Was it their plan to just suppress the competition? Tim Draper is just another person with their price prediction of Bitcoin.

REKT
…Who’s down

Binance… Binance, one of the largest cryptocurrency exchanges was hacked with a grand total of $41 million (7,000 BTC) being stolen. The security breach is the sixth largest exchange hack in crypto history. An analyst speculates that the hack had something to do with Binance’s lack of Segwit implementation.

Ban on Bitcoin… Congressman Brad Sherman, an outspoken critic of Bitcoin, is calling for a bill to ban all cryptocurrencies. The House Democrat from California says he’s looking to introduce legislation that will make it illegal for Americans to buy and sell crypto assets, an effort he believes will protect the country’s standing as a political and economic powerhouse.

Fool’s Gold… Peter Schiff, the stockbroker and financial commentator is well-known for his early warning market calls, particularly prior to the US mortgage crisis states “I don’t think bitcoin has anything in common with gold. I mean it tries to pretend to be gold, but I think it’s fool’s gold.” He doubles down by saying “bitcoin has no intrinsic value other than the fact that people are willing to buy it because they think they can sell it to somebody else at a higher price. That’s not money, that’s a Ponzi scheme.”

Takeaways: I have followed Peter Schiff for sometime now. He is a longtime gold supporter and investor. So it is in his best interest to bash any rival to gold. Click here to watch a great debate between Peter and the CEO of ShapeShift, Erik Voorhees. Binance hack came to a surprise being that it is one of the largest and respected exchanges in the world. Goes to show that you are better off storing crypto off exchanges. This weeks podcast explains proper ways to store crypto. Countries that ban bitcoin will open the opportunity to countries that support it.

LAST WEEK MARKET MOVER’S

COIN OF THE WEEK
ARCBLOCK (ABT)

$0.60 +78.1%

COIN OF THE MONTH
BITCOIN CASH (BCH)

LEADERBOARD
MonkeysJunk: +1.1%

52 Fog Tokens

CRYPTO CELEBRITY

David Hay: +14.4%

RED FOG INDEX

+8.6%

BITCOIN (BTC)

$7,807 +20.4%

RF YOUTUBE INDEX

+6.5%

CRYPTO BYTES PODCAST

17 MINUTES
Episode 4: How To Properly Store Bitcoin?

COMING UP THIS WEEK

 

Game of Coins TournamentRegistration Open Now. Reserve your spot today!

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

Tuesday

Game of Coins: Zclassic vs. Zcash @ 8am CST
Game of Coins: OmiseGo vs. Siacoin @ 8am CST

Game of Coins: BAT vs. Augur @ 8am CST
Game of Coins: Enigma vs. Verge @ 8am CST

 

Wednesday

Game of Coins: Bitcoin vs. Bitcoin Cash @ 8am CST

Game of Coins: Bitcoin SV vs. Bitcoin Gold @ 8am CST

Game of Coins: Ethereum vs. NEO @ 8am CST
Game of Coins: Cardano vs. Tezos @ 8am CST

RECENT RESULTS
Game of Coins: EOS vs. Ethereum
Ethereum: +4.29% (52% picked)
Game of Coins: NEO vs. Ethereum Classic
NEO: +2.65% (44% picked)
Game of Coins: TRON vs. Cardano
Cardano: +21.56% (63% picked)

Game of Coins: IOTA vs. Tezos
Tezos: +14.41% (43%
picked)

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