Ripple price traded as low as $0.3134 and recently corrected higher against the US dollar.The price broke the $0.3200 resistance area, but it is still below the key $0.3280 resistance.Yesterday’s highlighted key bearish trend line is intact with resistance near $0.3280 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair must break the trend line and $0.3300 to move into a positive zone.Ripple price managed to recover a few points against the US Dollar, similar to bitcoin. XRP is currently trading above the $0.3200 level and it could attempt to break the $0.3280 resistance area.Ripple Price AnalysisRecently, there was a downside extension below the $0.3200 support in ripple price against the US Dollar. The XRP/USD pair even traded below the $0.3150 level and formed a new weekly low at $0.3134. Later, the price started an upside correction above the $0.3140 and $0.3150 resistance levels. Buyers gained traction above the $0.3200 resistance and the 50% Fib retracement level of the last drop from the $0.3325 high to $0.3134 low.It opened the doors for more gains and the price traded towards the $0.3260 level and 100 hourly simple moving average. However, the price struggled to stay above the 61.8% Fib retracement level of the last drop from the $0.3325 high to $0.3134 low. Moreover, yesterday’s highlighted key bearish trend line is intact with resistance near $0.3280 on the hourly chart of the XRP/USD pair. Sooner or later, the pair could make an attempt to surpass the trend line and $0.3285.If buyers succeed in clearing the $0.3280 resistance area, there are chances of a solid upward move above the $0.3300 level. The next key resistance is at 1.236 Fib extension level of the last drop from the $0.3325 high to $0.3134 low at $0.3372. On the other hand, if the price fails to move above the $0.3280 resistance, there could be fresh decline. On the downside, an initial support is at $0.3200, below which the price could trade towards the $0.3160 and $0.3150 levels.Looking at the chart, ripple price is currently showing positive signs above $0.3200. Having said that, a proper close above $0.3280 and $0.3300 is must for more gains in the near term. If bulls continue to struggle near $0.3280, there could be another bearish reaction below $0.3200 in the coming sessions.Technical IndicatorsHourly MACD – The MACD for XRP/USD seems to be struggling to stay in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently moving lower towards the 50 level.Major Support Levels – $0.3200, $0.3150 and $0.3130.Major Resistance Levels – $0.3280, $0.3300 and $0.3370.
Archives for April 16, 2019
ETH price formed a solid support near $155 and recovered nicely against the US Dollar.The price gained traction above the $162 resistance and the 100 hourly simple moving average.Yesterday’s highlighted key bearish trend line was breached at $164 on the hourly chart of ETH/USD (data feed via Kraken).The pair accelerated towards the $168 level and it may continue to rise towards the $175 level.Ethereum price started a fresh upward move versus the US Dollar, with positive moves in bitcoin. ETH is likely preparing for more gains and it could reach the $175 resistance.Ethereum Price AnalysisRecently, we saw an extended downside correction below the $160 level in Ethereum price against the US Dollar. The ETH/USD pair tested the $155 level and settled below the 100 hourly simple moving average. However, the $155 level acted as a strong support and later the price started a fresh increase. Bulls gained traction above the $160 resistance and the 50% Fib retracement level of the last drop from the $170 high to $155 low.More importantly, yesterday’s highlighted key bearish trend line was breached at $164 on the hourly chart of ETH/USD. The pair rallied above the $162 level and the 100 hourly SMA. Besides, there was a break below the 61.8% Fib retracement level of the last drop from the $170 high to $155 low. The price traded close to the $170 resistance area and formed a high near $168. It is currently consolidating gains above the broken trend line and the 100 hourly SMA. An immediate support is $165 and the 23.6% Fib retracement level of the recent wave from the $155 low to $168 high.On the upside, a break above the $168 and $170 resistance levels may open the doors for more gains. The next stop for buyers could be $175, where sellers could appear. Having said that, if there is an upside break above $175, the price could continue to accelerate towards the $180 resistance.Looking at the chart, Ethereum price is showing positive signs above the $165 and $162 support levels. In the short term, there might be range moves above the $162 support. If there is an extended correction, the price could test the 50% Fib retracement level of the recent wave from the $155 low to $168 high. Finally, the price is likely to clear the $170 resistance to test $175.ETH Technical IndicatorsHourly MACD – The MACD for ETH/USD moved back in the bullish zone, with positive signs.Hourly RSI – The RSI for ETH/USD bounced back above 50 and it is currently near the 60 level.Major Support Level – $162Major Resistance Level – $170
Crypto exchange Gate.io has raised $64 million worth of crypto assets in seven days for its own exchange cryptocurrency that won’t be launched on a blockchain for at least six months.
One of the oldest Chinese exchanges, Gate.io claimed on Monday that over the last week it was heavily oversubscribed with orders totaling $2.99 billion for the so-called Gate Points, which can be used for offsetting trading fees on the platform.
Moreover, each Gate Point further entitles a holder to receive 2.5 Gate Tokens (GT), the native cryptocurrency of Gatechain, the exchange’s yet-to-be-launched proprietary blockchain. Gate.io says it expects the network to go live in the fourth quarter.
According to a blog post published on April 1, the first phase of the Gate Points sale started on April 8 and lasted for seven days. As Gate’s fees are paid in tether (USDT), the U.S. dollar-pegged stablecoin, one Gate Point is worth 1 USDT in reduced fees. The points were purchasable with bitcoin, tether, ether, EOS, or the tokens of rival exchanges Binance (BNB) or Huobi (HT).
Marie Tatibouet, chief marketing officer of Gate.io, told CoinDesk in an interview that the exchange distributed 150 million GTs to successful Gate Point subscribers during the first phase, and in return, collected $64 million as prepaid trading fees. (The initial reward ratio of 1 Gate Point for 2.5 GT depreciated by three percent every day during the first phase.)
Gate.io was founded in 2013 under the name Bter.com by CEO Lin Han. It suffered a hack in 2015, which resulted in loss of some 7,000 bitcoin from its cold wallets.
Following the Chinese central bank’s ban on initial coin offerings (ICOs) and fiat-to-crypto spot trading in 2017, Bter.com closed its domain, rebranded to Gate.io and dropped fiat trading. The exchange shifted its focus to crypto-to-crypto and Chinese yuan over-the-counter (OTC) trading.
Issuing an exchange token with a trading fee point system rather than a conventional ICO is not unprecedented, as Huobi also issued its Huobi Tokens (HT) in a similar fashion in early 2017. Binance, on the other hand, sold its exchange tokens BNB through a traditional ICO while BNB can also be used to offset trading fees.
But Gate.io’s plan comes at a time when exchange tokens are seeing notable growth in the crypto markets partially due to the emergence of initial exchange offerings (IEOs), which have gained traction on major platforms such as Binance and Huobi.
In fact, Tatibouet said Gate.io will announce a plan on Wednesday to launch its own IEO platform, similar to Binance’s LaunchPad.
She further claimed that on April 8, the day the Gate Points sales began, about $155 million worth of tethers were deposited to the platform’s USDT wallets overall.
Weirong Chen, an analyst from Beijing-based blockchain data analytics startup TokenInsight, said the recent price surge of exchange tokens has bolstered retail traders’ enthusiasm for the area.
She told CoinDesk:
“The demand is indeed correlated with the overall market condition, when exchange tokens have jumped by 150 percent in Q1. Thus retail investors’ anticipation for these tokens to yield a high rate of return is still positive.”
Such interest appears to have also caused an influx of USDT to Gate.io from rival exchanges such as OKEx and Huobi. The resulting scarcity of tethers on those exchanges drove up the stablecoin’s price to an average 3 percent premium over par value when Gate’s sale began.
For instance, for 1 USDT, the bid and ask orders among OKEx’s OTC market makers on April 8 centered around 6.95 Chinese yuan, or $1.03, while some even posted ask prices as high as $1.14 per coin.
Yet Chen said multiple reasons led to the price premium for USDT among Chinese traders, including the demand for Gate’s exchange tokens with a high expectation of return, but also bitcoin’s bull run on April 2.
But, despite such seemingly high buying interest, it’s important to note that for the time being GT is at best a tradable sign or liability.
Because unlike Huobi’s HT or Binance’s BNB, which were issued as ERC-20 based tokens on the ethereum network at the time when they were sold, GT is not yet issued on any public blockchain with a verifiable contract address.
Based on Gate.io’s announcement, the exchange plans to issue a total of 1 billion GTs, 50 percent of which would be reserved and locked up for a year for research and development as well as marketing efforts.
Another 300 million would be allocated to users who subscribe to the exchange’s trading points, half of which were distributed last week.
Gate.io said trading of GT will be enabled at the end of April but deposit and withdrawal won’t be available until the launch of Gatechain.
As such, Tatibouet acknowledged that for the time being, there are no other ways to track and verify the movements of any GTs, including those that are said to be locked up.
“There will be proof on how this is issued, since not every technical detail has been worked out now,” she said.
Meantime, Gate.io has started the second phase of the Gate Point sales lasting for a week for users who have been on the platform for over a certain period of time. The exchange aims to raise another $23 million in prepaid trading fees this week.
“The trading of GT [for now] will be more like trading credit points that’s entirely closed,” Chen of TokenInsight said, concluding:
“Indeed, investors can’t see how much is really being issued or how much is circulating at the moment – that’s one risk factor.”
Bitcoin and U.S. dollar image via Shutterstock
By CCN: Add Jesse Powell to the chorus of crypto exchange CEOS who are done with Craig Wright’s games. San Francisco-based crypto exchange Kraken has announced that it will be delisting Bitcoin SV (BSV), following in the trend-setting footsteps of Binance and later ShapeShift.
Kraken has been engaging with its community about it ever since Binance CEO Changpeng “CZ” Zhao got the ball rolling earlier in the week. In an online poll, nearly three-quarters of Kraken’s followers voted in favor of delisting Bitcoin SV while more than one-fifth of tens of thousands of voters said they didn’t care. Kraken responded, revealing that the last day for trading Bitcoin SV would be May 1 while withdrawals will continue until May 15.
“The people have spoken. Kraken is delisting Bitcoin SV.”
Should Kraken delist Bitcoin SV (BSV)? #delistbsv
— Kraken Exchange (@krakenfx) April 15, 2019
Kraken is one of the first couple crypto exchanges to take CZ’s challenge and “do the right thing.” ShapeShift CEO Erik Voorhees didn’t waste any time, revealing on April 15 that ShapeShift would be rid of Bitcoin SV within 48 hours.
If you ask CZ, he could have told you that it was just a matter of time before Powell pulled the BSV plug, tweeting that the “crypto industry is tighter and stronger [than] you think.”
— CZ Binance (@cz_binance) April 15, 2019
Tainted Bitcoin SV
Craig Wright ostracized himself from the rest of the crypto community several times over. Not only did he claim to be Satoshi Nakamoto, which everyone knew was a lie, but he threatened to sue anyone who called him out for the fraud. Kraken had enough, saying in the announcement:
“Over the last few months, the team behind Bitcoin SV have engaged in behavior completely antithetical to everything we at Kraken and the wider crypto community stands for. It started with fraudulent claims, escalating to threats and legal action, with the BSV team suing a number of people speaking out against them. The threats made last week to individual members of the community were the last straw. “
Among those who made Wright’s hit list was Peter McCormack of the What Bitcoin Did podcast. McCormack is keeping tabs on which exchanges and wallets join the fight against Wright.
More are coming…
— Peter McCormack (@PeterMcCormack) April 16, 2019
Winklevoss Chimes in on Bitcoin SV Saga
Perhaps those enjoying the turn of events at the expense of Craig Wright the most are those crypto trading platforms that avoided Bitcoin SV to begin with. CCN reported earlier today that eToro managed to avoid the drama, but they weren’t alone. Gemini’s Tyler Winklevoss reminded his followers of the exchange’s prescience in the matter.
— Tyler Winklevoss (@tylerwinklevoss) April 15, 2019
Bitcoin SV Price Tumbles
According to CoinMarketCap, Kraken supported BSV in BSV/EUR, BSV/USD, and BSV/BTC trading pairs. Meanwhile, the Bitcoin SV price has shed 5% in the last 24 hours. Based on the pace of delistings, the declines could be just the beginning.
The recent Bitcoin SV (BSV) imbroglio first began when those backing the cryptocurrency took legal action against popular figures within the crypto community who had been outspoken against both BSV and its mastermind, Craig Wright – who is widely seen as a charlatan who incessantly claims that he is the true Satoshi Nakamoto.BSV, which was just recently delisted from the world’s largest cryptocurrency exchange, Binance, has since been delisted by other major exchanges as well and has found itself caught in a downwards tailspin that has sent it spiraling down to set fresh year-to-date lows.Bitcoin Cash the Big Winner of the BSV ImbroglioThis recent price drop and the growing trend of major exchanges delisting BSV – although devastating for those invested in the cryptocurrency – has been very positive for Bitcoin Cash, which has incurred decent price gains in the time since Bitcoin SV was delisted from Binance.Bitcoin Cash – which underwent a hard fork in late-2018 that resulted in the creation of BSV – has surged from weekly lows of $260 to highs of nearly $330, before settling at its current price of $318.80.Bitcoin SV, on the other hand, has plummeted over the past several days, and is currently trading down over 12% at its current price of $55. BSV has plummeted from its one-week highs of roughly $85, which were set last Wednesday.Although Bitcoin Cash may directly benefit from Bitcoin SV’s tailspin, analysts still expect it to possibly see further downside in the near-term.The Cryptomist, a popular cryptocurrency analyst on Twitter, shared her thoughts on where BCH is heading next, noting that a bear division on its RSI may signal that further downside is imminent, despite its recent strength.“$BCH This has been one of my biggest winners in the last couple months! I would not fomo in atm, we have a double top on candles and bearish div on RSI. Expecting a little retracement,” she said.$BCHThis has been one of my biggest winners in the last couple months!
I would not fomo in atm, we have a double top on candles and bearish div on RSI. Expecting a little retracement.
Ignore the diagonal line on chart, experimental for now 🙂 pic.twitter.com/FMQd982xpL— The Cryptomist (@TheCryptomist) April 16, 2019Bitcoin SV May Continue to Plunge as More Exchanges Delist it BSV’s recent drop is directly linked to Binance choosing to delist it from their platform – a decision that led other exchanges to follow suit.Shortly after Binance made the announcement, Erik Voorhees, the CEO of cryptocurrency exchange ShapeShift, tweeted that his exchange would also be delisting BSV from their platform.“We stand with @binance and CZ’s sentiments. We’ve decided to delist Bitcoin SV #BSV from @ShapeShift_io within 48 hrs,” he concisely noted.We stand with @binance and CZ’s sentiments. We’ve decided to delist Bitcoin SV #BSV from @ShapeShift_io within 48 hrs.— Erik Voorhees (@ErikVoorhees) April 15, 2019Blockchain.com also announced that they would be delisting BSV by May 15th.“In the next thirty days, we will end even close out support for #BSV transactions. To use #BSV, go somewhere else!” Peter Smith, the CEO and co-founder of Blockchain.com, explained in a tweet.In the next thirty days, we will end even close out support for #BSV transactions. To use #BSV, go somewhere else! https://t.co/PCsbtn3MHG https://t.co/oSN19wIWre— Peter Smith (@OneMorePeter) April 15, 2019The latest cryptocurrency exchange to announce that they would be delisting BSV is Kraken, which recently tweeted that “the people have spoken” adding that they would be delisting Bitcoin SV, marking another significant blow to the embattled cryptocurrency.The people have spoken. Kraken is delisting BitcoinSV: https://t.co/8lSUfEYUYr#delistBSV— Kraken Exchange (@krakenfx) April 16, 2019As more exchanges jump on the band wagon and delist Bitcoin SV, it is highly likely that Bitcoin Cash will continue to reap the rewards and may see significantly further gains in the near future.Featured image from Shutterstock.
One of France’s most iconic buildings lies virtually destroyed after a tragic fire consumed it last night. In response to the incident, which has moved much of the planet, a group of French Bitcoin advocates have set up a crypto appeal.The blaze is now under control but millions of euros worth of architecture and artwork has been damaged. France’s president has pledged to rebuild the once-magnificent building and the Bitcoin donations will contribute towards the effort.Bitcoin Philanthropy: French Crypto Community Appeal for DonationsThe crypto appeal was first launched by French Bitcoin advocate, journalist, and podcaster, Gregory Raymond. His Tweet states that such a philanthropic action could help prove to the lawmakers of the planet that Bitcoin can be used for good and not just the small percentage of criminal uses often cited by regulators and naysayers:President @EmmanuelMacron has announced a subscription to rebuild #NotreDame. Hey bitcoiners, let’s prove to the french authorities #Bitcoin can be an amazing way to send funds quickly, without border and for a good cause ! #bitcoinfornotredame 1JX3k1e1acXENqoKqaAtKKEdE9C2j4WsDB pic.twitter.com/Xu1zULMqL1— Grégory Raymond (@gregory_raymond) April 15, 2019Other French crypto enthusiasts have since Tweeted their support for the appeal. A group from France’s digital asset community suggested that the wallet used for donations be switched for a multi-signature address to ensure that the funds go to where the appeal’s organisers say they will. Translated, the below Tweet simply reads:“The Coin Circle will support the approach of Gregory Raymond. A multi-signature address will be put in place to give more guarantee to donors. We communicate very quickly.”Le Cercle du Coin va appuyer cette démarche de @gregory_raymond . Une adresse multi signature va être mise en place pour donner plus de garantie aux donateurs. Nous communiquons très vite. https://t.co/t9cJ6Ak7ge— Le Cercle du Coin (@AssoCDC) April 16, 2019So far, the original Bitcoin address has received just 0.02760433 BTC from 11 donations. Most of this has now been transferred to the multi-signature address below, which is yet to receive a donation:“3PxExW3bKza9SbYzdBLwvALbvX4yMDfLyX”Controlling the muti-sig wallet is Raymond, L Cercle du Coin, and David Prinçay – another committed French Bitconer.France Mourns as Cathedral Ashes SmoulderThe twelfth-century cathedral is an absolute symbol of France. It was one of the nation’s most famous landmarks. According to a BBC article, the blaze is now under control but firefighters continue to work at the scene. Meanwhile, recovery teams are trying to salvage what they can from the artwork inside the building.In terms of structural damage, the cathedral’s spire and roof has collapsed. According to the BBC, more than 500 firefighters managed to save one of the building’s bell towers.Today, the scene has been visited by thousands of Parisians who stood in silence as the firefighters tackled the inferno. Many wept for the loss of the iconic building that meant so much to the nation of France.The precise cause of the fire is still unknown. However, the Paris prosecutor’s office is considering it a case of “accidental destruction by fire.” Some experts have opined that the fire may have been linked to recent renovation work on the building.President Macron has praised the courage of those involved with putting the blaze out. The French premier also stated, “we’ll rebuild Notre-Dame together”, a message that those Bitcoin advocates behind today’s appeal have clearly taken to heart. Related Reading: How Crypto is Beating Charity Fraud and Binance is Bringing Uganda’s Children to SchoolFeatured Image from Shutterstock.
The large upwards momentum that Bitcoin incurred over the past couple of weeks appears to have petered out as BTC has failed to advance past $5,400 since surging from lows of roughly $4,000 last month.Despite the dwindling momentum, the rally that brought the enduring “Crypto Winter” to an end may not be over yet, as analysts believe that Bitcoin may be able to surge well into the $6,000 region in the near future as long as it is able to advance higher within the $5,000 region.Bitcoin (BTC) Advances Past $5,200 At the time of writing Bitcoin is trading up 2.4% at its current price of $5,220, up from its 24-hour lows of $5,030.Early yesterday, Bitcoin incurred relatively large selling pressure that pushed its price from nearly $5,200 to nearly $5,000, which appeared to put Bitcoin’s position within the $5,000 region in jeopardy as the cryptocurrency’s bears garnered growing strength.Despite this, BTC has held firmly above $5,000 – which has since turned into a level of support – and now appears to be forming a fresh trading range between $5,000 and $5,400.The Cryptomist, a popular cryptocurrency analyst on Twitter, spoke about Bitcoin’s current strength from a technical perspective, noting that she is closely watching the RSI for greater insight into where BTC is going next.“$BTC The .236 on the fib was rejection as mentioned yesterday! The next step is for the candle to follow this break. Once this does, I am sure the RSI support that needs to break will. We then can explore if the bottom can be found,” she explained in a recent tweet.$BTCThe .236 on the fib was rejection as mentioned yesterday! The next step is for the candle to follow this break.
Once this does, I am sure the RSI support that needs to break will. We then can explore if the bottom can be found pic.twitter.com/fHG3bSFb6x— The Cryptomist (@TheCryptomist) April 16, 2019Analysts Waiting for BTC to Pullback Towards $4,600 Before Entering New PositionsBecause the recent slowdown of the crypto market’s upwards surge has left many investors and analysts keen on discovering where the markets are heading next, many analysts are advocating for investors to slow down and wait for a further pullback before entering fresh long positions.Luke Martin, another popular cryptocurrency analyst on Twitter, explained in a recent tweet that he sees the $4,600 to $4,800 region as an “attractive” level to enter fresh positions, but also noted that Bitcoin may be able to surge past $6,000 if it can move into the mid-$5,000 region in the near-future.“After an exciting start to April for $BTC, price has stalled right around 5k. If price can close above 5600 I would expect 6k to be reached quickly. I believe the pullback area of 4600-4800 is a more attractive buy than the current level. Move slow. Wait for your play,” he explained.After an exciting start to April for $BTC, price has stalled right around 5k.– If price can close above 5600 I would expect 6k to be reached quickly
– I believe the pullback area of 4600-4800 is a more attractive buy than the current levelMove slow. Wait for your play. pic.twitter.com/GaymZU2FRf— Luke Martin (@VentureCoinist) April 16, 2019As the week continues on and as Bitcoin further establishes fresh trading ranges, investors will discover whether or not the recent upwards surge is simply a temporary occurrence, or if it is a lasting movement that will help lead Bitcoin to surge significantly higher in the near-future.Featured image from Shutterstock.
Another major crypto exchange is delisting bitcoin SV (BSV) amid an ongoing feud between that cryptocurrency’s creator Craig Wright and outspoken members of the bitcoin community.
San Francisco-based Kraken announced Tuesday that it will no longer support BSV, citing both community sentiment and ongoing litigation filed against the exchange by the coin’s advocates.
Kraken will disable BSV deposits on April 22, trading will cease on all trading pairs April 29 and, finally, withdrawals will stop May 31.
The move follows announcements Monday by two other prominent exchanges, Binance and ShapeShift, that they were delisting BSV in response to Wright’s behavior. Binance’s CEO, Changpeng Zhao (CZ), tweeted that Wright is “poisoning” the bitcoin community with his threats to sue people who called him a fraud because he has claimed to be bitcoin’s pseudonymous creator, Satoshi Nakamoto.
But Kraken was already negatively disposed toward BSV long before the kerfuffle started.
In December, during the contentious hard fork of bitcoin cash when it got split into bitcoin cash ABC and bitcoin cash “Satoshi Vision,” Florida-based mining firm United Investment Corp. filed a federal lawsuit against a group of defendants for supporting the ABC version, including Kraken and its CEO Jesse Powell. Kraken enabled BSV trading in November.
“They are suing us, our investors, well-respected and prominent figures in the community, and the community got to the point it’s fed up with it,” Powell told CoinDesk. “It’s completely antithetical to what this community is about.”
On Monday, Kraken launched a poll on its Twitter account, asking people to vote for or against delisting BSV. At the moment of writing, the poll shows that around 70,545 users voted, 71 percent supporting delisting, seven percent opposing and 21 percent not caring.
“We at Kraken have our own strong opinions, and it’s like a bubble, so putting out a poll was the opportunity to get other people’s opinions,” Powell explained.
If the vast majority of the votes had been in favor of keeping BSV at Kraken, it wouldn’t have been delisted, but if the results were indecisive, say 50/50, the coin would still have been delisted, Powell said.
In the past Kraken has delisted other tokens, including Namecoin and Iconomi — the former because of its low volume and the need to support a technically onerous upgrade at some point, the latter because the protocol was changed by its creators.
The delisting wave started after Wright threatened to sue a pseudonymous Twitter user nicknamed Hodlonaut, known for starting the bitcoin Lightning Torch, and crypto investor and podcaster Peter McCormack, unless they publicly recognized Wright as bitcoin’s pseudonymous creator Nakamoto.
“It looks they keep to use the law system to abuse it, suing anyone who says anything against them,” Powell said about BSV advocates.
Powell said more exchanges may follow suit. “The more players delist them, the easier it becomes to do it,” he said.
Image of Jesse Powell via CoinDesk archives
A Redditor has revealed perhaps the most interesting fraud claim regarding Craig Wright yet. Wright is being sued by the estate of Dave Kleiman for a sum in the many billions of dollars. The suit alleges that Wright stole over 1 million BTC from Kleiman shortly after his death.
Signature Actually Dates to 2014, Not 2012
Reddit user Contrarian__ says that a piece of evidence submitted by Wright in the case is provably false. An apparent expert in GPG signatures and cryptography, Contrarian__ makes his case plain as day:
We know how to find the long ID of the key used and the timestamp of the signature. I’ve bolded the ID and italicized the timestamp. Looking on the MIT keyserver, we can find the fake* key. The timestamp of the signature is 1394600848, which is March 12, 2014, two weeks before Craig filed to install Uyen as a director of Dave’s old company, and almost a year after Dave died!
The e-mail has another interesting characteristic, beyond its apparent false signature: apparently Dave Kleiman mispelled his own name as Klieman when he set up the account from which he sent the e-mail. Or the e-mail is definitively fake and alleged Satoshi Nakamoto Craig Wright failed to catch the typo while generating the fabrication.
Another Reddit commentator points out that the strategy for “appointing” someone is odd, as Kleiman allegedly says:
Unless I hear otherwise, I will assume you are coming on-board.
The redditor comments:
I’m going to use this technique to assemble an amazing board for directors for my dog-walking business.
Craig Wright: Chief Scientist or Professional Litigant?
Wright is fast becoming a professional litigant, with lawsuits against him and numerous suits against others. Calvin Ayre has acted as a sort of press man for Wright, letting the world know as Wright sends more and more legal threats.
Most recently, the subjects of his legal rancor have gotten higher and higher profile: both Vitalik Buterin and Adam Back are allegedly going to have to answer for denying Wright’s (unproven) claim to be Satoshi Nakamoto.
Adam Back back got his letter from Craig today so he will also have a chance to tell his story under oath in a UK court. He must really be happy about this given how loud he has been in the last week on his opinions. 🙂 https://t.co/ygDnfkZW7I
— Calvin Ayre (@CalvinAyre) April 16, 2019
You’ll notice that this reporter made a rare comment on the post linked in the above tweet. It seems clear that Satoshi Nakamoto illustrated within the pages of the whitepaper why he was referencing Adam Back’s Hashcash paper. However, Wright claims in his most recent work:
So, Wei is referenced as he helped. Adam Back is referenced as he pointed me to Wei.
The fact that Craig Wright has not yet managed to prove his identity as Satoshi Nakamoto should not be lost on the reader. Even friends and faithful followers of Wright, such as Roger Ver, have eventually parted ways, believing they were conned.
The standard of proof as to who is Satoshi Nakamoto seems to be the ability to create a cryptographic signature using one of the original Satoshi addresses. No one has done this, including Craig Wright.
Bitcoin and most of crypto is surging once again. The entire market capitalisation for all digital assets has risen from a daily low of $171.33 billion to over $176.5 billion at the time of writing.Whilst this week has certainly been a dramatic one in terms of news events, there is nothing immediately apparent that has driven this latest bout of investor optimism. Almost every digital asset is up over the last 24-hours, with a couple of notable exceptions.Bitcoin and Leading Cryptos Post Gains Almost Across the BoardBitcoin and other digital assets are having another good day following a brief lull in recent upwards momentum. As recently as midnight last night, the leading digital asset by market capitalisation was hovering just above the $5,000 price point. Since then, the Bitcoin price has made a dramatic move upwards to its price at the time of writing of $5,225.Other crypto assets have fared similarly. The second largest digital asset by market capitalisation, the native currency on the Ethereum blockchain, has posted larger percentage gains over the last 24 hours. It traded at close to $162 as April 16 began. It has since surged to almost $170.In fact, the only cryptos in the top twenty by market cap to not post gains of at least one percent over the last day were XRP, USDT (Tether), and Bitcoin SV. Meanwhile, some performed even better than Bitcoin and Ethereum. The likes of Tezos (XTZ), and Monero (XMR) have seen the size of their markets expand by 5.68 and 4.69 percent respectively.The continued upwards momentum lends support to those crypto proponents that have been saying Bitcoin has finally bottomed after the crypto bear market of 2018. However, many are still calling for the price to retrace back to somewhere in the $4,000 to $5,000.BCHSV: The Elephant in the RoomOn an almost universally green day, there is one cryptocurrency that stands out as having a much rougher time than the rest of the market. That is of course the side of last November’s Bitcoin Cash hard fork that is championed by Australian computer scientist Craig Wright and online gambling entrepreneur Calvin Ayre.Tweets by PeterMcCormackBitcoin Satoshi’s Vision (BCHSV) has taken an absolute battering in the markets since a Binance-led mutiny of the crypto by leading exchanges. Wright has reportedly been sending letters of legal action to individuals who have claimed him to be lying about creating Bitcoin. This behaviour has angered much of the wider crypto community including some exchange executives:Do the right thing. https://t.co/z7HGsAZnmR— CZ Binance (@cz_binance) April 15, 2019Banding together, several exchanges have decided to stop supporting Bitcoin SV in a move that has divided opinion in the space. The majority think that the delisting is a positive development since it may help to destroy Bitcoin SV once and for all, something that those of the opinion that Wright is lying about being Satoshi are keen to see. Meanwhile, others have highlighted how it shows the power centralised exchanges have over a crypto’s prospects for mass adoption. Finally, some find it odd that Binance and other exchanges have chosen to delist Bitcoin SV and not a load of other assets that they feel are equally suspect.Since the exchanges have announced that they will no longer support Bitcoin SV, the price has taken an absolute nose dive. Prior to the announcement by Binance, the unpopular Bitcoin fork was trading above $70 per coin. It has since plunged to just over $55. That’s a drop of over 21% in less than two days. According to Peter McCormack, more delistings are expected to follow:So far the following have delisted BSV:
– @Bittylicious_More are coming…— Peter McCormack (@PeterMcCormack) April 16, 2019 Related Reading: Why Did Japan’s SBI Just Delist Bitcoin Cash? Potential FactorsFeatured Image from Shutterstock.