Bitcoin and cryptocurrency roundup: 12 March 2018

Posted: 12 March 2018 6:56 pm
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What's happening in cryptocurrency?

$3 billion of fake volume seems to be originating from China's crypto exchanges, Binance has posted a wanted sign and a look into the what, how and why of Daimler's new crypto.

Plus Maduro talks about the Petro some more, and an introduction to the bitcoin Misery Index.

1. Cleaning up the wash trading.

The first thing to know is that a range of exchanges are almost certainly manipulating and faking trade volume.

The second thing to know is that they're really bad at hiding it. OKX in particular looks like more than 90% of its volume is fake.

2. Wanted: Some horses and hats to complete the wild west vibe.

Binance has posted a quarter million dollar equivalent bounty on the yellah bellied weasels that attacked its exchange earlier this month.

Vigilante fantasies are gently discouraged.

3. A blockchain in every garage.

Daimler AG is releasing its own cryptocurrency! It's just a fairly dull rewards points token to encourage eco-friendly driving.

The significance of blockchain technology for quickly-evolving car maker mobility services providers is much more interesting, if you're into that kind of thing.

4. That's billion with a Ƀ.

Maduro has said the Petro raised $5 billion in its presale. It's also going to super-for-realsies save Venezuela now.

Other than that, nothing's moved. The same question marks hang over Petro's future, and none of the tokens have left their wallet.

5. Hemorrhaging money builds character.

"The time to buy is when there's blood in the streets." - Baron Rothschild, professional rich guy and non-bleeder.

Bitcoin's hurting, but it's a good hurt says the compelling Fundstrat Misery Index.

6. Convenient 2 b/b token, onstreet parking, walking distance from shops.

Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, SALT, BTC, NANO

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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