Day: August 17, 2017

Josh Garza is one of the more hated people in all of Bitcoin and cryptocurrency. His numerous scams have included PayCoin, GAW Miners, ZenMiner, and ZenCloud. Everyone knew it would only be a matter of time until all of those companies suddenly disappeared. After a thorough investigation, law enforcement officials finally arrested Garza earlier this year. His sentencing, however, may not occur later this year as originally planned. That is not the news most had hoped for.

Josh Garza Sentencing Potentially Delayed

Many cryptocurrency enthusiasts were relieved when Josh Garza was arrested earlier this year. The notorious scam artist has made many people angry by taking their money and disappearing. After successfully launching PayCoin, GAW Miners, and ZenMiner a few years ago, all of those companies suddenly declared bankruptcy in 2015. Truth be told, it was only a matter of time until that happened as everyone could see all of those companies were scams.

It turns out Josh Garza successfully stole over US$9 million combined from customers of all those platforms. He has since pleaded guilty to the charges filed against him. There was no reason for him not to do so, but it was still pretty surprising. Pleading guilty to the charges could result in a jail sentence of up to 20 years for Garza. We will know his fate for sure once his sentencing takes place.

That sentencing had originally been set for October. Many people had been looking forward to closing this chapter in their lives at that time. Unfortunately, it appears they may now have to wait a few months longer, as Garza and the prosecutor are looking to delay sentencing by another six months at most. That is not the news victims of GAW Miners, ZenMiner, and PayCoin wanted.

According to reports, that request was made by both parties due to scheduling obligations of counsel. For now, the newly proposed time frame would postpone sentencing to January of 2018. It is unclear if the change will be granted, since it is up to the local court. Joint requests from both parties such as this one rarely get denied, as it seems both sides need additional time to prepare their respective cases. People who are hoping to get their money back sooner rather than later would prefer to see this motion denied.

This has nothing to do with the SEC court case against Josh Garza, which is still ongoing. That particular case revolves around Garza having committed securities fraud. It is evident that all of his illegal operations have finally caught up with him and that justice for him will be served. Ensuring customers get their money back will be something else entirely.  Even though there is clear evidence that US$9,182,000 has been stolen from customers,  it is unclear whether that money is still in Garza’s possession right now.

This will not be the last we hear of the Josh Garza court cases. There will be some major repercussions for the scams he successfully pulled off. For now, the motion to postpone sentencing has not yet been approved. It is unclear when we will be hearing the final verdict regarding this request. We will keep an eye on the situation and update this article accordingly.

The cryptocurrency situation in Russia has always been quite remarkable. So many changes have been made over the past several months, it becomes difficult to keep track of them. Right now, it appears cryptocurrency mining is all the hype in that part of the world. Dmitry Marinichev is one of the market leaders in this … Continue reading Cryptocurrency Mining is Taking off in Russia Thanks to Dmitry Marinichev

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Bitcoin’s much-anticipated Lightning Network is now compatible with seven payment networks, thanks to new code from Ripple and Bitfury.

It is once again a wonderful day to be involved in cryptocurrency. The Bitcoin price has set another all-time high and is well underway to break through to US$4,500 and beyond. Most major alternative cryptocurrencies note some positive momentum as well, although both NEM and NEO are going through a correction phase right now. At this rate, the total cryptocurrency market cap will reach US$150bn in a few days from now. This growth has been absolutely stellar, that much is evident.

Next Bitcoin price Target is US$4,500

Seeing the Bitcoin price go absolutely nuts if quite fun, even if it is a trend which almost occurs on a daily basis right now. With yet another all-time high in the books for Bitcoin, it is evident the projections made by financial experts will need to be revised once again. Right now, one Bitcoin is valued at US$4,438.79, which means reaching that US$4,500 mark shouldn’t take that long. Whether or not that will be the case, remains to be seen, though, as there is some pushback across all exchanges as we speak.

That said, no one can look past the 7.59% gain the Bitcoin price has recorded in the past 24 hours. It is evident this bull run is far from over, with some experts predicting Bitcoin will hit US$15,000 before the year is over. That is a very, very ambitious goal, to say the least, but with the current momentum in place, the sky’s the limit, so to speak. Then again, all of this excitement may equally result in a major price correction in the coming days.It doesn’t appear as if logic applies to the Bitcoin price right now, which is both fun and troublesome at the same time.

For the second day in a row, Bitcoin notes a 24-hour trading volume of well over US$2bn. Most of this volume is coming from the Bithumb and Bitfinex exchanges, which are very close to one another in numbers. Other exchanges completing the top 10 include Bittrex, OKCoin, BTCC, Huobi, GDAX, and BitFlyer. Taking the crown for Bithumb will be very, very difficult for any cryptocurrency exchange right now, that much is evident. Then again, Bitfinex is giving the Koreans a good run for their money so far, with a US$15m gap separating the two.

While everyone is keeping a close eye on the Bitcoin price, do not overlook the other top cryptocurrencies either. All of the usual suspects have noted small to medium gains in the past few hours as well. Ethereum is up by 3.7%, and even Ripple noted a 2.3% gain. IOTA continues to make a lot of headway thanks to their 15.03% jump, pushing the value of every MIOTA to US$1. 08. Considering there are nearly 3 billion of these tokens in existence, reaching such a milestone is quite significant. Litecoin is back in the #6 spot thanks to a 3.92% gain in the past 24 hours. Dash is one coin to keep an eye on right now, as it increased in value by as much as 13.2%.

Sadly, there are also currencies which do not benefit from this Bitcoin price gain right now. Both NEM and NEO are noting quite large losses, which is quite unusual given their recent trends. Then again, both currencies have noted a massive growth these past few hours, and a correction had to occur sooner or later. It seems that the correction is taking place right now If Bitcoin were to see a similar trend, things will get ugly pretty quickly. More specifically, it wouldn’t be impossible to see the Bitcoin price retrace to US$3,500 or potentially lower.

For the time being, the question on everybody’s mind is what will happen to the Bitcoin price in the near future. Right now, it appears US$4,500 is certainly within reach, although the price may not reach that point today just yet. There are some interesting things taking place in all of cryptocurrency right now, yet it is hard to tell what the next few hours will bring. The trading volume is certainly there to push the Bitcoin price to new heights in the very near future, that much is evident. An interesting chart to keep an eye on, although the end result could surprise everyone.

AMD has recently released a new software designed to improved GPUs used by miners for Bitcoin mining.

Revenue Goals Achieved, Focus Turns to ICO Launch on September 7 August 15, 2017 – Today ATLANT (Atlant.io) announced the successful completion of its ICO presale, raising over $1 million in just a few days, exceeding its revenue objectives. ATLANT is ending its ICO Presale on August 19, 2017 at UTC 00:00. Investors are welcome … Continue reading ATLANT Ending ICO Pre-Sale on August 19

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On September 7, Stockholm will host a large conference dedicated to blockchain technology, cryptocurrencies, and ICOs – Blockchain & Bitcoin Conference Stockholm. That is one of the events from Smile-Expo company that organized 15 blockchain conferences in Europe. The key discussion topics will include blockchain implementation (in finance, power industry, municipal services, insurance), token issuance … Continue reading Blockchain & Bitcoin Conference Stockholm to feature discussions on ICOs and blockchain development

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