Market update Tuesday February 27th 2018.

It's been a good day for crypto currencies today. Bitcoin is up around 5% on pretty low volumes. We hit a peak of $1887 (Bitfinex) before settling around $1600 the past couple of hours.

 

We are still set up for the Elliot Wave pattern

 

Israeli supreme court issues court order prohibiting Leumi Bank from restricting banking activity of crypto broker

This bank has been blocking customer payments to BTC exchanges citing Israeli law against gambling.

But after Feb 26 the court this has changed. The company Bits of Gold had sought a court order after being denied services by Leumi Bank - and says this after the court decision;

“The court’s decision enables us to continue to focus on the base of the crypto community in Israel. We were the first to request the creation of rules for the activity of digital currencies and the first to stand by those rules.”

https://cointelegraph.com/news/israeli-supreme-court-prohibits-banks-from-restricting-crypto-activity-in-landmark-decision

 

Russian Crypto Developer beaten and robbed of 300 BTC on the streets of Moscow

I first thought this was old news (about a week ago another russian was beaten and about 100 BTC stolen from him), but this is a new story.

Four unknown men kidnapped Yury Mayoroc, the creator of the cryptocurrency PRIZM and robbed him of 300 BTC and 3 Iphones.

According to him self he was grabbed in the street and put in a Mercedes and beaten while they drove around the city.

Not only do we have the government threathening us with fines or in worst case jail if we don't pay taxes on what they don't even consider something real and that according to them has no value. Something that is so volatile that it might lose half it's value the day after you pay your taxes and threatnes to put you in economic ruin. We also have to be very careful and watch our for other types of criminals.

But that is how the world works. You have been smart and invested in something not everyone else believed in. Now they want your money.

So be very careful out there people. Don't discuss cryptos with your full name. And even though it's tempting to put on that BTC bumper sticker and wear that BTC t-shirt to work..as a government official..be careful.

https://cointelegraph.com/news/russian-crypto-developer-beaten-robbed-of-300-btc-on-moscow-streets

LitePay fails

Wonder why Litecoin price is declining? Well..the planned launch of fintech startup LitePay was partially scrubbed at the last minute and delayed indefinitely.

LitePay has sent an email to users just ahead of the scheduled launch informing them that a core component of the firm's business model - the LTC debit card - had been delayed indefinitely due to "hostile actions from card issuers towards crypto communities"

LitePay Twitter page has no information, and Charlie Lee who usually tweets three times a day has been quiet since yesterday.

Also something weird is going with LitePay's Twitter account.

Which one is the real one? One is posting but has only 80 followers. The other one is dead but has 17k followers.

People are also reporting that their log in does not work on the merchant platform that is still going to be launched.

LitePay said that it will open merchant registration as planned, but the indefinite delay on its debit card service caught many users by surprise and likely contributed to Litecoin’s poor performance today.

I'm not sure how much this will or should affect Litecoin prices. People shouting scam is however not great..

https://www.ccn.com/litecoin-price-posts-lonely-decline-as-litepay-debit-card-launch-scrubbed-at-last-minute/

 

 

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