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Decentralized exchanges — the road ahead

While decentralized exchanges (DEXs) offer many advantages over their centralized counterparts, user uptake remains low. However, new technologies like the 0x protocol may present a viable evolutionary path for DEXs in what is clearly a David & Gol…

While decentralized exchanges (DEXs) offer many advantages over their centralized counterparts, user uptake remains low. However, new technologies like the 0x protocol may present a viable evolutionary path for DEXs in what is clearly a David & Goliath competitive landscape 

Shapeshift Continues Product Overhaul, Drops Crypto Portfolio Feature

ShapeShift, a leading startup in the crypto and blockchain industry, has continued its drastic product overhaul, recently revealing that it was dropping a lesser-known feature from its extensive lineup of products, services, and applications. Prism Is Shutting Down On Tuesday, ShapeShift, a Switzerland-based crypto infrastructure firm, revealed that it would be discontinuing Prism come the second

The post Shapeshift Continues Product Overhaul, Drops Crypto Portfolio Feature appeared first on NewsBTC.

ShapeShift, a leading startup in the crypto and blockchain industry, has continued its drastic product overhaul, recently revealing that it was dropping a lesser-known feature from its extensive lineup of products, services, and applications.

Prism Is Shutting Down

On Tuesday, ShapeShift, a Switzerland-based crypto infrastructure firm, revealed that it would be discontinuing Prism come the second week of November via an official blog post.

For those who aren’t in the loop, Prism is a series of smart contracts that allow users to experience the thrill of having a diversified portfolio of crypto assets without the risk of mismanagement or the difficulty of setting up multiple accounts and wallets. More specifically, as pulled straight from the horse’s mouth:

“Prism is, at its core, a set of smart contracts which enable collateralized portfolios of digital assets to be established, giving price exposure to users without counter-party risk and without the need to take delivery, or set up or manage multiple wallets.”

Prism, which is evidently one of the members of ShapeShift’s vast product family, has and still is in a closed beta, which began over 18 months ago before 2017’s monumental bull run. But while its description may sound like a promising project, the firm behind it explained that over the course of the beta, the team realized that the same functionality could be installed via a “different (and likely superior) product” that would be based off Prism’s underlying technology.

Keeping this in mind, ShapeShift has formally decided to “reimagine” the product itself. For now, the details regarding Prism’s successor has been kept under lock and key, with the Swiss startup adding it is still “deep in work” on other services, including the ShapeShift.io exchange, price tracker CoinCap, the KeepKey storage solution, along with other unnamed activities that ShapeShift’s 120 person team is working hard on. As the firm later added, “we should sunset the current Prism product, both in order to focus on our core platform, and to clear the pallet for a potential reimagining of what this technology can do later on.”

As such, over the coming weeks, the Prism.exchange domain will be gradually shut down until the site goes silent on October 11th, 2018, which will also be when ShapeShift will shut down all of the diversified portfolios, or “Prisms” as they are known to some.

Shapeshift Membership Program Met With Community Outcry

As aforementioned, the startup, headed by industry veteran Erik Voorhees, is in the midst of a product/service”reimagining.” This move to shutdown Prism follows the Switzerland-based firm’s plan to instate a mandatory controversial membership program, fittingly named the ShapeShift Membership program.

This move came as a surprise to many, as those without an account would be denied access to the primary ShapeShift.io exchange offering. Since the original announcement, as reported by NewsBTC, the firm has fallen victim to heavy criticism by diehard decentralists, as they claim that the platform is implementing this to adhere to governmental and regulation concerns. These same individuals, which likely number in the thousands, have now resorted to boycotting the membership system.

The firm has now employed the use of an airdrop of FOX tokens, which operate hand-in-hand with the membership program, in a bid to entice individuals to sign up for the controversial program.

Controversy aside, Shapeshift CEO Voorhees still holds a positive outlook on the fate of this industry, divulging that while the bear market may not be over yet, that accumulating now could prove to return massively in the next few years or decades.

Featured Image From Shutterstock

The post Shapeshift Continues Product Overhaul, Drops Crypto Portfolio Feature appeared first on NewsBTC.

Ripple Price Analysis: XRP/USD Upsides Could be Capped Near $0.2900

Key Highlights Ripple price started a short-term upward move towards the $0.2700 resistance area against the US dollar. Yesterday’s highlighted two bearish trend lines with resistance at $0.2600 and $0.2690 were breached on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is correcting higher, but it is likely to face

The post Ripple Price Analysis: XRP/USD Upsides Could be Capped Near $0.2900 appeared first on NewsBTC.

Key Highlights

  • Ripple price started a short-term upward move towards the $0.2700 resistance area against the US dollar.
  • Yesterday’s highlighted two bearish trend lines with resistance at $0.2600 and $0.2690 were breached on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is correcting higher, but it is likely to face a lot of hurdles near $0.2750, $0.2800 and $0.2900.

Ripple price has recovered a few points against the US Dollar and Bitcoin. XRP/USD is likely to face a strong resistance near the $0.2900 level.

Ripple Price Recovery

Yesterday, we discussed how Ripple price struggled below the $0.2800 level and declined towards $0.2500 against the US Dollar. The XRP/USD pair traded as low as $0.2492 and later started an upside correction. The price moved higher and broke the $0.2600 and $0.2650 resistance levels. The upside move was positive as there was a break above the $0.2700 resistance as well.

Besides, the price surpassed the 50% fib retracement level of the recent decline from the $0.2899 high to $0.2492 low. Additionally, yesterday’s highlighted two bearish trend lines with resistance at $0.2600 and $0.2690 were breached on the hourly chart of the XRP/USD pair. The price is now trading with a positive angle above the $0.2700 level and the 100 hourly simple moving average. However, there are many resistances for buyers near the $0.2750 and $0.2800 levels. The 76.4% fib retracement level of the recent decline from the $0.2899 high to $0.2492 low is also at $0.2800.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price could continue to correct higher as long as it is above $0.2650. However, buyers are likely to struggle near the $0.2750 and $0.2800 resistances. Above $0.2800, the next major hurdle and a pivot level is at $0.2900.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slightly placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is well above the 50 level.

Major Support Level – $0.2650

Major Resistance Level – $0.2800

The post Ripple Price Analysis: XRP/USD Upsides Could be Capped Near $0.2900 appeared first on NewsBTC.

R3 Versus Ripple Lawsuits Reveals Centralized Nature of XRP Supply

Ripple Labs and XRP II LLC have reached a settlement with the R3 blockchain consortium after a drawn-out legal battle over the sale of 5 billion Ripple tokens (XRP) at USD 0.0085 each. The fact that such a large amount of XRP was offered to R3 at such a massive discount reveals the centralized nature …

The post R3 Versus Ripple Lawsuits Reveals Centralized Nature of XRP Supply appeared first on BitcoinNews.com.

Ripple Labs and XRP II LLC have reached a settlement with the R3 blockchain consortium after a drawn-out legal battle over the sale of 5 billion Ripple tokens (XRP) at USD 0.0085 each. The fact that such a large amount of XRP was offered to R3 at such a massive discount reveals the centralized nature of the company.

Apparently, Ripple Labs and XRP II entered into an agreement with R3 to sell up to XRP 5 billion any time before the end of 2019. R3 leads 200 blockchain and distributed ledger technology research firms and companies, and particularly explores the use of such technology for finance and commerce. XRP is a cryptocurrency for cross-border payments, which makes it a good fit for finance and commerce platforms.

Ripple had entered into this agreement to sell XRP 5 billion for only USD 42.5 million when price was closer to that level. Cryptocurrency prices rallied massively, and by September 2017 the deal no longer made sense. During the peak of the crypto rally, the XRP were worth USD 19 billion, and even now after a massive price crash during 2018 they are still worth USD 1.3 billion.

It would be catastrophic for the XRP market for this deal to go through as agreed, so it makes sense that Ripple Labs and XRP II tried to get rid of the deal. There are just under 40 billion XRP in circulation, and the injection of 5 billion into circulation could lead to a major price crash. It is unknown if the lawsuit settlement involved a large amount of cut-rate XRP entering circulation.

This situation highlights the centralized nature of XRP. While there are nearly 40 billion XRP in circulation, there are over 60 billion XRP under the control of Ripple Labs and the Ripple Foundation that are not yet in circulation. This is quite dangerous for investors, since these centralized Ripple entities could legally dump tokens at any time and suck all the money out of the market. This lawsuit is a case of how Ripple can sell billions of its tokens below market rate, which is damaging to its market.

While XRP has consistently been one of the top cryptos, currently #3 with a market cap of USD 10.6 billion, many crypto experts and enthusiasts don’t consider it to be a true crypto due to its lack of mining and centralization of coin supply.

 

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The post R3 Versus Ripple Lawsuits Reveals Centralized Nature of XRP Supply appeared first on BitcoinNews.com.

Mt. Gox Victims Must Take Claims to Tokyo, Not US, Judge Rules

Mt. Gox Victims Must Take Claims to Tokyo, Not US, Judge RulesSince its implosion back in 2014, the Mt. Gox exchange hacks continue to loom large within the cryptocurrency ecosystem. The U.S. District Court for the Eastern District of Pennsylvania determined recently it does not have jurisdiction in a case involving Gox victims and a bank closely associated, in effect condemning victims to redress their grievances […]

The post Mt. Gox Victims Must Take Claims to Tokyo, Not US, Judge Rules appeared first on Bitcoin News.

Mt. Gox Victims Must Take Claims to Tokyo, Not US, Judge Rules

Since its implosion back in 2014, the Mt. Gox exchange hacks continue to loom large within the cryptocurrency ecosystem. The U.S. District Court for the Eastern District of Pennsylvania determined recently it does not have jurisdiction in a case involving Gox victims and a bank closely associated, in effect condemning victims to redress their grievances at the scene of the crime, Tokyo, Japan.

Also read: Philippines Okays PDAX Crypto Exchange

Gox Victims Must Take Up Claims in Japanese Courts

Gregory Pearce, according to court documents, picked the perfectly worst time to attempt withdrawing $5,900 through Mizuho Bank Ltd of Tokyo, Japan. The bank had the sole US market for Gox withdrawals and deposits at the time. Mizuho and Gox were both under suspicion for crimes, with the bank allegedly thought to be funding organized crime in various aspects. Gox, then processing something like 70% of the world’s bitcoin, was equally under investigation for suspected money laundering.

Mt. Gox Victims Must Take Claims to Tokyo, Not US, Judge Rules

According to the court decision, “Mizuho facilitated international cash wire transfers from Mt. Gox users into the exchange and processed user requests to withdraw fiat currency from the exchange to their outside bank accounts,” the judge wrote. “When a user wished to deposit money in their Mt. Gox account, Mizuho would accept the payment that had been wired through the user’s outside banks and deposit the funds into Mt. Gox’s Mizuho account. Such wire transfers not only designated Mt. Gox as the beneficiary of the wire and Mizuho as the beneficiary’s bank, but also included the Mt. Gox user’s account number to which the funds were to be directed.” He continued:

Likewise, when a user wished to withdraw fiat currency from their Mt. Gox account, Mt. Gox would provide the request to Mizuho for processing. Such requests included the user’s banking information and the amount to be transferred. Mizuho would then transfer out the requested amount to the user’s outside bank.

Right around this exact time, exchange clients began agitating about not being able to withdraw from accounts. Either unknowingly or willingly, the bank continued to take deposits and collecting requisite fees up until Gox, and not the bank, blocked users. Mr. Pearce was among them. He received notice of a “delay” for international withdrawals.

Mizuho Off the Hook in US

The rest is cryptocurrency history, and the broader community has been fighting Gox and its creditors and receivers to get at funds owed. Mr. Pearce brought a class action against Mizuho, claiming it had balked on its contract. Mr. Pearce also brought claims of fraud and negligence against disgraced exchange CEO and president Mark Karpeles. Unfortunately for Mr. Pearce, he brought his suit in the wrong jurisdiction, Philadelphia.

Mt. Gox Victims Must Take Claims to Tokyo, Not US, Judge Rules
Judge Robert F. Kelly

Mizuho quickly moved to have the claims dismissed on the grounds the bank is a Japanese company operating under Japanese law, and therefore a US court was clearly out of bounds. The bank doesn’t have a single employee in Philadelphia, much less a branch. Other than Mr. Pearce being a resident, the bank’s ties are exactly zero. Judge Robert F. Kelly agreed, granting the dismissal.

The court affirmed not having general jurisdiction in this matter, arguing Mr. Pearce did not establish “a prima facie case for specific jurisdiction over Mizuho.” Beyond even that, it wasn’t clear to Judge Kelly the bank had any idea Mr. Pearce was requesting withdrawal (the spark of the whole matter). What this might mean for US victims in the Gox case as a whole is unclear, going forward. At the very least, the US judicial system is of little use. It appears that for US victims they’ll have to either file in Tokyo proper or hitch their claims to a larger class action suit filed in Japan. 

Should US courts assist its citizens in their Gox claims? Let us know in the comments section below.


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John McAfee: Bitcoin [BTC] is “The Number One Coin For Processing Payments” – Ethereum World News (blog)

Ethereum World News (blog)John McAfee: Bitcoin [BTC] is “The Number One Coin For Processing Payments”Ethereum World News (blog)John McAfee remains true to his vision of Bitcoin (BTC) as the number 1 cryptocurrency in the ecosystem, contradicting opinio…


Ethereum World News (blog)

John McAfee: Bitcoin [BTC] is “The Number One Coin For Processing Payments”
Ethereum World News (blog)
John McAfee remains true to his vision of Bitcoin (BTC) as the number 1 cryptocurrency in the ecosystem, contradicting opinions that deny its nature as a peer-to-peer electronic cash system. So he stated in conversations with the AMBCrypto team during
Exclusive: Bitcoin [BTC] is the number one coin for processing payments, says John McAfeeAMBCrypto

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Ethereum Price Analysis: Can ETH/USD Extend Recovery Above $200?

Key Highlights ETH price started an upside correction after it found support near $168 against the US Dollar. There was a break above a major declining channel with resistance at $183 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to face a strong resistance near the $200 level and

The post Ethereum Price Analysis: Can ETH/USD Extend Recovery Above $200? appeared first on NewsBTC.

Key Highlights

  • ETH price started an upside correction after it found support near $168 against the US Dollar.
  • There was a break above a major declining channel with resistance at $183 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to face a strong resistance near the $200 level and the 100 hourly simple moving average.

Ethereum price is slowly recovering against the US Dollar and bitcoin. ETH/USD buyers could face a tough challenge near the $190-200 resistance zone.

Ethereum Price Resistance

Yesterday, we saw a downside break below the $175 level in ETH price against the US Dollar. The ETH/USD pair traded towards the $165 support and found bids near the $168 level. Later, the price started an upside correction and moved back above the $175 level. During the upside, the price also broke the $180 resistance. It opened the doors for a push above the 50% Fib retracement level of the last slide from the $199 high to $168 low.

More importantly, there was a break above a major declining channel with resistance at $183 on the hourly chart of ETH/USD. The price even spiked above the $188-190 resistance zone. However, the price faced a strong resistance near the $192 level and the 100 hourly simple moving average. Moreover, the 76.4% Fib retracement level of the last slide from the $199 high to $168 low is acting as a resistance. It seems like the price could dip a few points back towards the broken channel at $182-183.

Ethereum Price Analysis ETH USD

Looking at the chart, ETH price is likely to struggle near $192 and the 100 hourly SMA. Above this, the next major hurdle for buyers is near the $200 level. On the downside, the previous resistances near $182, $180 and $175 are likely to act as supports.

Hourly MACD – The MACD is now back in the bullish zone.

Hourly RSI – The RSI has moved above the 60 level.

Major Support Level – $175

Major Resistance Level – $190

The post Ethereum Price Analysis: Can ETH/USD Extend Recovery Above $200? appeared first on NewsBTC.

Bitcoin (BTC) Price Watch: Bearish Pullback Underway?

Bitcoin Price Key Highlights Bitcoin price appears to be gaining a bit more traction on its bounce off the triangle support. Price could be ready to test the triangle resistance again, and this lines up with the 61.8% Fib level. Technical indicators are suggesting that the rallies could go on for a bit longer. Bitcoin

The post Bitcoin (BTC) Price Watch: Bearish Pullback Underway? appeared first on NewsBTC.

Bitcoin Price Key Highlights

  • Bitcoin price appears to be gaining a bit more traction on its bounce off the triangle support.
  • Price could be ready to test the triangle resistance again, and this lines up with the 61.8% Fib level.
  • Technical indicators are suggesting that the rallies could go on for a bit longer.

Bitcoin price seems to have found support at the bottom of the descending triangle and may be ready to test the top again.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. In other words, support is more likely to hold than to break. However, it’s also worth noting that bitcoin price is currently below these levels to reflect a bit of bearish pressure.

RSI is still heading higher, though, so buyers have the upper hand. This might be enough to take bitcoin up to the triangle resistance closer to $7,000 or the 50% Fib at the $6,800 level. The 38.2% Fib is closer to the 200 SMA dynamic inflection point, which could add to its strength as resistance.

Stochastic is also heading north so bitcoin price could follow suit until the oscillator hits overbought levels and turns back down. In that case, another test of the lows could happen. A larger rally past the triangle top, on the other hand, could reflect a return in strong bullish pressure, possibly leading to a rally that’s the same height as the triangle.

BTCUSD Chart from TradingView

BTCUSD Chart from TradingView

Bitcoin appears to be drawing a bit more support as bulls continue to defend the long-term floor. It also helps that this particular digital asset has been increasing its market dominance, something that typically happens during prolonged declines across cryptocurrency prices.

Besides, market sentiment appears to have improved on recent trade developments, encouraging traders to flock back to riskier assets like commodities and cryptocurrencies.

The post Bitcoin (BTC) Price Watch: Bearish Pullback Underway? appeared first on NewsBTC.

10 Years After Lehman: Bitcoin and Wall Street Are Closer Than Ever – CoinDesk

CoinDesk10 Years After Lehman: Bitcoin and Wall Street Are Closer Than EverCoinDeskHank Paulson, former secretary of the U.S. Treasury, called it "an economic 9/11." Having loaded up on mortgage debt that went sour, then failed to find a savi…


CoinDesk

10 Years After Lehman: Bitcoin and Wall Street Are Closer Than Ever
CoinDesk
Hank Paulson, former secretary of the U.S. Treasury, called it "an economic 9/11." Having loaded up on mortgage debt that went sour, then failed to find a savior in the government or private sector, the 158-year-old Wall Street investment bank Lehman …
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Bitcoin News Radio Show, 12th September 2018

Listen to the 12 September 2018 Bitcoin News Radio Show below. On this episode of the Bitcoin News daily radio show, we discuss how Ethereum shorts have hit record highs as its price has plummeted. Hear about the BitConnect scam that led to one of the biggest price crashes in crypto history. Learn about how NASDAQ …

The post Bitcoin News Radio Show, 12th September 2018 appeared first on BitcoinNews.com.

Listen to the 12 September 2018 Bitcoin News Radio Show below.

On this episode of the Bitcoin News daily radio show, we discuss how Ethereum shorts have hit record highs as its price has plummeted. Hear about the BitConnect scam that led to one of the biggest price crashes in crypto history. Learn about how NASDAQ is going to try to predict the price for 500 cryptocurrencies. Listen to the story of the Bitcoin Pizza.

Follow the Bitcoin News Radio Show on AnchoriTunesSpotifyGoogle PodcastsStitcherRadio PublicPocket CastsOvercastCastbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world!

 

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Image Courtesy: Zachary, Bitcoin News

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Bitcoin Cash Price Analysis: BCH/USD Facing Key Resistance Near $450

Key Points Bitcoin cash price traded to a new low at $410 before starting a recovery against the US Dollar. This week’s highlighted important bearish trend line could stop upsides near $450 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is recovering, but it is about to face major

The post Bitcoin Cash Price Analysis: BCH/USD Facing Key Resistance Near $450 appeared first on NewsBTC.

Key Points

  • Bitcoin cash price traded to a new low at $410 before starting a recovery against the US Dollar.
  • This week’s highlighted important bearish trend line could stop upsides near $450 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is recovering, but it is about to face major hurdles near the $440 and $450 resistance levels.

Bitcoin cash price traded towards the $400 support against the US Dollar. BCH/USD is currently correcting higher, but it could face resistance near $450.

Bitcoin Cash Price Upside Hurdle

There were more declines noted below the $425 low in bitcoin cash price against the US Dollar. The BCH/USD pair broke the $425 and $420 support levels and traded to a new monthly low at $410. Later, buyers appeared and the price recovered above the $425 level. There was also a break above the 23.6% Fib retracement level of the last drop from the $475 swing high to $410 low.

However, the price is now approaching a couple of important hurdles near the $450 level. An immediate resistance is near the $444 level. It represents the 50% Fib retracement level of the last drop from the $475 swing high to $410 low. Moreover, this week’s highlighted important bearish trend line could stop upsides near $450 on the hourly chart of the BCH/USD pair. If there is a break above the trend line, the next resistance is near $460 and the 100 hourly simple moving average. Therefore, the $450 and $460 resistance levels are likely to stop the current recovery.

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, BCH price is currently in a correction phase, which could complete anywhere near $450. Sellers are likely to come back to push the price back towards $410.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD has moved back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well above the 50 level.

Major Support Level – $425

Major Resistance Level – $450

The post Bitcoin Cash Price Analysis: BCH/USD Facing Key Resistance Near $450 appeared first on NewsBTC.

Government-Funded Drug Trafficking Makes USD the World’s Dirtiest Currency

US Dollar-Funded Drug Trafficking Makes Bitcoin the World’s Cleanest CurrencyPablo Escobar. Joaquín ‘El Chapo’ Guzmán. Rick Ross. Household names, each and every one of them; drug lords collectively responsible for punting billions of dollars’ worth of narcotics. Yet their crimes pale in comparison to those their prosecutors have been perpetrating for years. After decades of fueling proxy wars and trafficking, the US government has […]

The post Government-Funded Drug Trafficking Makes USD the World’s Dirtiest Currency appeared first on Bitcoin News.

US Dollar-Funded Drug Trafficking Makes Bitcoin the World’s Cleanest Currency

Pablo Escobar. Joaquín ‘El Chapo’ Guzmán. Rick Ross. Household names, each and every one of them; drug lords collectively responsible for punting billions of dollars’ worth of narcotics. Yet their crimes pale in comparison to those their prosecutors have been perpetrating for years. After decades of fueling proxy wars and trafficking, the US government has powder on its hands – a combination of gunshot residue, cocaine, and heroin. Those same agencies that would decree what the public can and can’t do with their cryptocurrency have broken every rule in the book.

Also read: Terrorists Prefer Cash to Crypto, According to Congressional Testimony

Bitcoin, Drug Barons, and High Hypocrisy

In a 6×8 feet concrete cell in a Colorado penitentiary, prisoner 18870-111 meditates silently. He will perform this daily ritual another 18,250 times in his lifetime, which shall be expended within the confines of his cramped enclosure. The 34-year-old is serving life without parole, officially for operating a sprawling drugs marketplace. Unofficially, his life term isn’t for drug trafficking however – it’s for doing so without cutting the US government a slice of the action. His name is Ross Ulbricht and his crimes are a drop in the bucket to those perpetrated by the three-letter agencies whose fingerprints are all over his prosecution.

Even if one takes the view that drug dealing and money laundering are unlawful – and there are many, particularly in the Bitcoin community, who would demur – the hypocrisy of law enforcement is breathtaking. Many of the officials who would lock up dealers for life think nothing of committing the very same crimes. Sometimes these are rogue agents operating alone, such as Carl Force and Shaun Bridges, who helped bring down Ross Ulbricht while committing even more egregious crimes and tainting the evidence trail. But the most serious cases of government-orchestrated malfeasance see orders taken from the very heart of the so-called deep state.

US Dollar-Funded Drug Trafficking Makes Bitcoin the World’s Cleanest Currency

A Short History of US Government Lawlessness

As the following examples show, there is a very strong case for asserting that the US government, typically operating off the books through shadowy proxies, is the world’s largest cartel. What follows is a handful of the crimes we know to have been committed with the blessing of US agencies. Consider this the tip of the iceberg.

Nicaragua, CIA cocaine trafficking: Widespread sources have alleged the CIA to have been complicit in cocaine smuggling in the 1980s. Funds from the narcotics operation were reputedly used to fund the Contra war in Nicaragua. It was later alleged that this operation was pivotal in creating the crack cocaine epidemic that wreaked havoc on major US cities in the 80s.

Mexico, CIA cocaine & marijuana: In 2013, it was alleged that CIA operatives oversaw the kidnap and murder of a DEA agent because he threatened their Mexican drug operations. A CIA spokesman denied the allegations. Naturally. The CIA was also implicated in similar misdeeds in Honduras and Panama, tied to its funding of the Contras in Nicaragua.

Venezuela, CIA cocaine importation: There’s a lot of drugs in South America and the CIA seems to have gotten its hands on a lot of them. After seizing a ton of cocaine in Venezuela, the confiscated narcotics somehow made their way onto the streets of the US. While the DEA objected to the operation, which was designed to flush out a Colombian drug cartel, the CIA proceeded anyway, because the CIA does what it wants.

Switzerland, CIA LSD importation: We have the CIA to thank for LSD. It was they who went over to Basel, Switzerland in the 1950s, where it had first been synthesized, and brought the whole supply over to the States. They then incorporated it into their secret mind control program called MK Ultra in conjunction with the U.S. Army Biological Warfare Laboratories, complete with illegal testing on humans.

Afghanistan, heroin cultivation: Reports of US government complicity in the heroin trade go back decades, with the CIA’s name predictably cropping up. Whether you believe the US was directly involved in allowing Afghanistan’s poppy fields to flourish, or simply allowed them to prosper as part of a laissez-faire policy, the end result is the same: by 2006, during peak US occupation, heroin production reached a historic high.

US Dollar-Funded Drug Trafficking Makes Bitcoin the World’s Cleanest Currency

The US Government Is the World’s Biggest Cartel

These are just a few of the cases in which US government involvement in drugs crimes has been established. While these examples were primarily perpetrated by the CIA, every branch of the US government has been complicit in similar crimes. From the FBI to state police, every branch, state, and county has its share of bad apples, like the Baltimore cops who became robbers.

It is incumbent upon us to reflect upon these cases when we consider the proactive role the US government takes in dictating the freedoms the rest of us are granted. When it locks Ross Ulbricht up for life for committing what many believe to be a victimless crime. When they lean on crypto companies such as Shapeshift to enact full KYC. When they conflate cryptocurrency with terrorism, despite all the evidence to the contrary. If the US dollar is the world’s most tainted currency, bitcoin might just be its cleanest.

Do you think the US government is still complicit in drug trafficking? Let us know in the comments section below.


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Bitcoin (BTC) Price Analysis: Was That a Bullish Breakout? – Ethereum World News (blog)


Ethereum World News (blog)

Bitcoin (BTC) Price Analysis: Was That a Bullish Breakout?
Ethereum World News (blog)
Bitcoin was recently rejected on the long-term descending triangle top and has since formed a small symmetrical triangle at the bottom. Price has just closed past this consolidation pattern’s resistance to indicate that buyers are returning. In that
Bitcoin (BTC) Price Watch: Still Some Selling Pressure Left?newsBTC

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Ethereum World News (blog)

Bitcoin (BTC) Price Analysis: Was That a Bullish Breakout?
Ethereum World News (blog)
Bitcoin was recently rejected on the long-term descending triangle top and has since formed a small symmetrical triangle at the bottom. Price has just closed past this consolidation pattern's resistance to indicate that buyers are returning. In that ...
Bitcoin (BTC) Price Watch: Still Some Selling Pressure Left?newsBTC

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