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Mt. Gox trying to sell again? – 8200 Bitcoin [BTC] moved & bloodbath continues!

Ketaki Dixit

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Mt. Gox trying to sell again - the market faces a bloodbath
Source: Wikimedia Commons

Two weeks ago, we reported that Mt. Gox had moved 16000 BTC from their cold storage account to various accounts. The Mt. Gox’s account had moved 2000 BTC eight times to several accounts and just a few hours ago, it happened again.

This time almost 8214 BTC has been moved from the cold storage account to an unidentified wallet. The wallet is not one of the Mt. Gox cold storage wallet. The Bitcoin tokens were moved to the same wallet in different proportions. The BTC was transferred in four chunks with 2000 BTC being transferred three times and 2,214 BTC once. The dump in the market took place right after the transfer of the Bitcoin.

Mt. Gox was the biggest Bitcoin exchange platform around the globe and was known to have been handling over 70% of the Bitcoin transactions in the world. But the exchange platform had to declare bankruptcy in the year of 2014 after they lost 7% of Bitcoin worth up to $474 million.

Soon after announcing bankruptcy, the CEO of Mt. Gox, Mark Karples came across cold wallets which had a huge number of Bitcoin. This is currently being used to clear all the lawsuits. Mt. Gox is even being held responsible by many investors for some of the major dips that occurred in the market in December 2017 and March 2018.

The market commentators feel yesterday’s transfer to be more suspicious than the previous ones as the current total of 8200 BTC was moved into one account unlike previous transfers.

First Transfer

First Transfer

Second Transfer

Second Transfer

Third Transfer

Third Transfer

Fourth Transfer

Fourth Transfer

Wallet address to which the Bitcoins were transferred

Wallet address to which the Bitcoins were transferred

Some also believe that the transactions indicate that an Over the counter trade [OTC] or a sell-off on cryptocurrency exchange platform might take place as there are 24214.9708 BTC in total that has been moved out from the cold storage wallet since the past few weeks.

Despite the fact that the court meeting is to be held in September and Mt. Gox wasn’t allowed to sell off the remaining Bitcoin [BTC] and Bitcoin Cash [BCH], the sudden movements in the wallet has spread a lot of panic in the market with few crypto news outlets linking the current movement in BTC to the dip in prices.

Andy Hoffman says:

“Ah, so here’s the answer! Another 24,000 BTC moved from the Mt Gox Trustees wallet yesterday morning, just before prices dumped, taking his total down to 137k. As usual, Bitcoin down for NON-FUNDAMENTAL REASONS”

He further adds:

“My guess is some market participants are betting the Mt Gox Trustee will sell his entire position this year. I believe he will, but that the market will discount the negative impact far more quickly, and benignly, than today’s FUD-panicked sellers assume.”

Joseph Young, a Twitterati says:

“Someone please tell the drunk Mt. Gox trustee person to stop using cryptocurrency exchanges and move to the over-the-counter market.”

Prof. Taaakeshi Katsuro, another Twitterati says:

“Falling down sharply in cryptocurrencies is because of Mt.Gox selling Bitcoin secretly.They will keep doing that till selling about 400.000 BTC. It’s clear that happens under Japan govt’s permission. It’s an official fraud under goverment knowledge”

According to CoinMarketCap, Bitcoin [BTC] is currently trading at $8579 with a market cap of $146 billion and has seen a significant dip of more than 8% in the past 24 hours.

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Ketaki Dixit is a Journalism major from Jain University. She has about 1-year experience in the field and is passionate about blockchain technology and the cryptocurrency world.

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Bitcoin

Deutsche Boerse adopts Bitcoin [BTC] even with the volatile market

Arjun B

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Jeffrey Tessler of Deutsche Boerse adopts Bitcoin even after the volatile market
Source: Pixnio

The Chief Executive Officer of Clearstream and a member of the Executive Board of Deutsche Boerse, Jeffrey Tessler contemplates on offering cryptocurrency products. The executive board member of the German company which provides services for derivative markets and equity trading, in an event on Wednesday, talked about adopting cryptocurrency.

Currently, there are a lot of financial institutions taking a dip into cryptocurrency and blockchain technology, with benefits like cheaper trade fees and peer to peer network. This is due to the total and obsolete emergence of Bitcoin in people’s lives and economic trades companies are adopting the technology.

According to the market report the company has been battling with other derivative companies such as Cboe Global Markets Inc. and CME Group Inc. He believes that there have not been much of regulatory effects from the regional authorities as the market is nascent.

The event was held in London which was organized by the Association for Financial Markets in Europe.

Jeffrey Tessler during the event says:

“Before we move towards the Bitcoin market, we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.”

He also said that the company is working with the cryptocurrency.

Later in the event, he added that:

“We want to understand the volatility and make sure clients are in line and make sure regulators are in line.”

Garisson a Redittor says:

“Crank up and cramped up banks are the way to be behind the crypto-game. The involvement of institutions is a bad sign as more regulatory standards will be I posed…making it further non-decentralized.”

Sara a Redittor says:

“I believe that derivative and equities are dropping into the cryptocurrency and blockchain game because of the emergence of this new industry. Goldman has to lead the way for the stock market to follow now everyone is gonna adopt the new technology of crypto. I believe that the ones who  reject to evolve will have a major market collapse.”

Wesley Willam Cryptocurrency enthusiast tweeted:

“Bitcoin is gonna pop like a big bubble as it is observed that the market is not volatile and is falling at the steep rate. There is hope for blockchain but no Bitcoin. Maybe altcoins have a future.”

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Altcoins

First Dutch company to accept Bitcoin [BTC] and Neo [NEO] – ProSeo

Sarah Rodrigues

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Proseo goes "Pro" crypto- the first Dutch company to accept Bitcoin and Neo.
Source: Wikimedia Commons

In the world where Search goes Digital, ProSeo is a search engine optimization agency which specializes in search engine marketing. It is a Dutch company based in Ireland and is an SEO specialist since 1999.

ProSeo and Web design are the top ranking SEO Companies who provide SEO services in Ireland. The Search Engine Optimization Company is also partnered with Google and is ranked 1st in Google as “Seo Company”, “Seo Agency” and “Seo Services”.

Proseo's tweet. Image Source: Twitter.

Proseo’s tweet.

The company provides professional and presentable services with their experienced Irish Consultants who are aware of their Irish Market. It has a close team of specialists with extensive experience and talents.

The company has gained the title of being the 1st SEO Company to accept cryptocurrency as their payment method. They accept the cryptocurrencies Bitcoin [BTC] and Neo [NEO] for now. However, they are currently investigating whether the company can make payments with other cryptocurrencies as well.

Since ProSeo keeps a close watch of new technological developments in the world, it’s logical for them to apply to the world of digital payment of transactions.

SeaOfDeadFaces, a Reddit user commented:

“My first thought as well. I can imagine that only being able to charge people in increments of NEO means customers are either getting a great deal or shafted, depending on how the company rounds.”

stuartwitherspoon said:

“That’s great but wouldn’t GAS be the better option? I don’t see how this is practical with neo being non-divisible.”

l4ur1ds said:

“I’d love to accept GAS in my neo merch store. Does anybody know how I could accomplish that? The major payment gateways only accept BTC or ETH.”

They reported that Bitcoin and Neo are extremely safe and reliable. They believe that Bitcoin is an investment opportunity in view of the fact of its rapidly increasing value. It is unfortunate that there is a finite number of companies in the Netherlands who accepts cryptocurrency as a form of payment.

Proseo offers a simple method of transaction. The amount of payment by the customer is calculated on the basis of the rate of the largest exchange. Once they complete this, Proseo’s wallet address is sent to the customer to make the payment. The company does not calculate an exchange fee for such transactions.

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