Market Update Wednesday February 28th 2018. Snapshots Bitcoin, Zclassic and Ignis

Going into March, Bitcoin and Cryptos are still on the right course.

For short term traders I'm sure there is some money to be made between $10k and $11k Bitcoin - but bears should be really cautious right now. We're seeing big purchases and big moves which pushes the price up and down $100 or more in one go. And it's pretty clear which direction we are headed.

Don't let these short term swings and pullbacks frustrate you.

 

Bill Gates is Fudding Cryptos

Gates wrote in a "ask me anything" session on Reddit yesterday;

The main feature of crypto currencies is their anonymity. I don't think this is a good thing. The Government’s ability to find money laundering and tax evasion and terrorist funding is a good thing. Right now crypto currencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs and crypto currencies is super risky for those who go long

It's sad to see someone who obviously is, or was very intelligent to either have turned into a demented old circus monkey, OR is shilling on behalf of banks. I don't know what's worst.

But we all know that Gates is known for his hypocracy, virtue signalling and in-bed relationships with banks and governments. He is not a nice dude.

But spraying that bullshit either means he is not very up to date, or it means that they are underestimating people. People aren't fucking stupid sheep any more. Some people are, of course..but this movement has gained enough traction right now to defend itself.

For everyone that has a minimum of knowledge about how cryptos work, we know that using cryptos for illegal activities is not as good as using fiat paper money to pay for illegal activities. Cryptos use a public ledger. Everything is tracable. Some privacy coins do work as private transactions, but even they can have flaws.

And if he wants to talk about something causing death..well..merry christmas to your precious fiat-dollar.

https://cointelegraph.com/news/bill-gates-cryptocurrencies-caused-deaths-in-a-fairly-direct-way-in-reddit-ama-community-reacts

 

35 nations including the European Commission has asked (FATF) to revise its standards relating cryptos

FATF, short for fat fuckers..or Financial Action Task Force..is responsible for setting global anti-money laundering policies. The countries including China, France, Germany, India, Japan, South Korea, Russia, South Africa, Sweden, Turkey and the US urged the body to improve the understanding of money laundering risks relating to cryptos.

Hopefully we will soon see more sensible regulations and especially tax-laws. I personally think it's very unclear and at times ridiculous how they are taxing cryptos as securities. Meaning, in theory we should all pay capital gains everytime we upvote a comment on Steemit. Tax-laws need to be easier. For instance - only taxable event when you convert to Fiat or buy goods.

The problem we have now, is that a lot of people - and often people with not great fiat-household economics, has earned a lot in cryptos. How will they finance their tax? They will have to sell cryptos and convert it into Fiat to pay for their tax.

https://news.bitcoin.com/countries-fatf-revise-global-cryptocurrency-standards/

 

BTC and ZCL snapshot

The snapshots for both ZCL and BTC holders will occur at the first block found for each time stamped after 5pm UTC, February 28th, 2018. For every 1 ZClassic (ZCL) or 1 Bitcoin (BTC) held during the snapshot, holders will receive 1 Bitcoin Private.

 

Ignis Snapshot

Snapshot IGNIS holder is on 28th February and airdrop will be distributed on 1–3 March. 10 IGNIS will get 1 LELE.

 

https://cryptocalendar.pro/

Markets

 

Most top 10 coins are in the red today, except EOS and IOTA. But that will probably change throughout the day.

Donations:

 

0x3bDfA13bD53A75B457df65F520fFE556faF29a9A

1E28FMCoy4Hi3CgUXAUX31Uxed2nDtw9d2