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Crypto Whale Bets Against CZ, Says He’ll Give Him 10 BTC If Price Doesn’t Slump Below $8k This Month



A Bitcoin whale is outrageously confident that Bitcoin will dump below $8,000 this August and they are betting a whole 10 BTC for it. However, the crypto bear is betting against, Changpeng Zhao, Binance’s CEO who, on the contrary, said anyone who sold their Bitcoin below $10,000 needs to slap themselves.

Changpeng Zhao Says “Do Not Bet Against Bitcoin”

In a tweet on August 1, 2019, Changpeng Zhao said anyone who gave away their Bitcoin while it was looming below $10,000 needs to slap themselves. According to Binance’s CEO, the slap is to serve as a reminder for next time. CZ also made another tweet on August 5, 2019, stating that no one should bet against Bitcoin.

Kra₿₿y, a Bitcoin whale who was among the hundreds of people to comment on CZ’s tweets, had something different to say. The crypto enthusiasts said they disagree entirely with CZ’s opinion, and as a matter of fact, they are willing to dish out 10 BTC to CZ if Bitcoin does not retrace below $8,000 this month.

Crypto Community Remarks on Whale’s Bet Against CZ

Kra₿₿y’s remarks were enough to draw the attention of the crypto community as to who could be confident enough to bet against Bitcoin’s potential price surge soon. Moreso, who could place 10 BTC currently valued at about $117,000 for an asset that is quite volatile and whose performance can only be predicted to a certain level of accuracy.

Those who made comments pointed out that Kra₿₿y will quickly lose because, in their opinion, Bitcoin can only go higher from here onward. Others remarked that even if there was a retrace, it wouldn’t be below $8,000 which the Bitcoin bear has predicted. There was also a class of users who’ll rather have the whale donate 10 BTC to charity instead of CZ who they claim “is already too rich.”

Crypto Whale Explains How Bitcoin Will Decline to $8,000

A closer look at Kra₿₿y’s twitter timeline shows an analysis of how Bitcoin will possibly dump below the price level he has predicted. According to him, Bitcoin is ready for a massive retracement very soon, and “Tomorrow’s daily candles will be RED.”

In a tweet on August 4, 2019, said:

“#Bitcoin August Analysis: $BTC will fail to break next resistance! 1. What will happen instead is we will reject it, then nose dive to the 7.5-8K Range. 2. We will likely re-test 9K~ around the middle of August. 3. Final dip to the yellow line. (buy there).”

Bitcoin, on the other hand, is trading around the $11,700 zone as at press time. CoinMarketCap’s platform also shows that as at 11:14 UTC +01:00 today, Bitcoin surged to $12,273. However, the price level was not maintained given that there was a sharp decrement to $11,812 barely an hour later.


J.K. Rowling and Elon Musk Engage in Twitter Conversation About Bitcoin



J.K. Rowling and Elon Musk Engage in Twitter Conversation About Bitcoin

Just recently, the CEO of SpaceX – Elon Musk took to Twitter to reveal his current holding of Bitcoin. The conversation ensued during an effort to educate British author and film producer – J.K. Rowling on the subject of cryptocurrencies. Following a tweet originally referred to CoinDesk’s senior reporter – Leigh Cuen by the Orator of the Harry Potter fiction on Saturday, for an explanation to bitcoin’s operability.

J.K. Rowling subsequently received Musk’s reply among several others from Bitcoin’s advocates and cynics alike; such as the co-founder of Ethereum and Bitcoin Magazine– Vitalik Buterin, among many others. Notably, the author’s tweet drew some attention to the tune of 2,800 replies, as at the time of writing.

Furthermore, the co-founder and CEO of Tesla, Inc., emphasized that the bulky issuance of currencies by the central banks of various economies is making the digital currency – Bitcoin, more solid in juxtaposition to fiat. Musk also went on ahead to convey his views towards digital money as being positive, even though he currently owns a quarter of a Bitcoin as stated in his tweet that reads;

“I still only own 0.25 Bitcoins btw.”

Yet, Cuen replied Rowling with a reassuring statement while providing her with guides to sample use-cases of Bitcoin. Cuen stressed this in a tweet with the message;

“Hi! My D.M.s are open if you want to chat w/out onlookers. The very short version is: Bitcoin is money fueled by a community of contributors. There is no king or central bank in charge. There are countless stories we can use to explore the ethics of a world w/global currency.”

Albeit, Rowling expressed her discontent with regards to the explanations she received, as her curiosity rapidly became debased by the myriad of responses she received. She disclosed her uneasiness towards the topic in question – with a bit of sarcasm while tweeting the following;

Another noteworthy reply is that of Vitalik Buterin, who added that;

“It is a digital currency. There’s ~ 18m units of it. It is not backed by anything, it’s just valuable because it is, like collectibles. There’s a network of computers (which anyone can join) that maintains a decentralized global excel spreadsheet of how many coins each person has.”

Although, Rowling might have admitted being woozy before publishing these tweets, however, her views on the digital currencies and Bitcoin are unlikely to change when she becomes sober or in the foreseeable future.

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Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price



Ripple Sends $26 Million Worth of XRP to Jed McCaleb, XRP Army Fears Another Dump in Price

Time and again, several members of the XRP community have opined that the massive dump of the crypto asset in the market has impacted on its price, negatively. Now, there are speculations for another dip in XRP’s price. The latter is after Whale Alert informed on September 7, 2019, that 100 million XRP tokens have been transferred to Jed McCaleb, Ripple’s co-founder. 

Ripple Sends XRP Worth About $26 Million to McCaleb’s Wallet

According to Whale Alert, Ripple transferred 100 million XRP valued at $26,322,440 to Jed McCaleb’s wallet. The transfer has led to the sentiment in the crypto space that XRP might tank below its $0.262 price today. Also, the opinion is due to McCaleb’s reputation for dumping huge amounts of XRP in the market.

McCaleb is Ripple’s co-founder, and in 2014, Ripple transferred 9 billion XRP to him as his share for founding the company in 2012. However, the blockchain company entered a seven-year agreement with McCaleb to control how much XRP he can sell in the market yearly.

Per the agreement, the co-founder could sell $10,000 worth of XRP per week in the first year, $20,000 per week in the second, third, and fourth years, and “750 million XRP per year for the fifth and sixth years.” In the same vein, he could choose to dump 1 billion XRP yearly for the seventh year, and 2 billion XRP yearly after the seventh year.

McCaleb’s Dump of XRP Impacts of Asset’s Market Price

Given that this is the fifth year since the agreement was made, McCaleb can choose to dump thousands of XRP tokens daily. In 2014 when he announced his plans to sell a significant part of his XRP holdings, the value of the asset declined by 40%. As such, the continuous dump of the asset has also been pointed out as one of the reasons why it is not spiking like other top cryptocurrencies.

Asides from being reputable in the XRP community, McCaleb is also a name associated with Mt Gox, one of the first cryptocurrency exchanges. He founded the platform and sold it off years before its hack. Similarly, McCaleb is the creator of Stellar (XLM), the 11th largest cryptocurrency by market cap.

Nonetheless, the crypto community has aired its views about the potential for McCaleb to release another share of XRP to the market. Crypto BitLord, for instance, said: “Wow. Another cool $26M Jed can unload at market. This shits out of control.” Another remarked that: “know, right?! Private businesses shouldn’t be allowed to exist. The name “Jed” should be banned.”

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