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As US Banks Running Out of Coins Bitcoin Keeps On Chugging Along - Cointelegraph

As US Banks Running Out of Coins Bitcoin Keeps On Chugging Along - Cointelegraph


As US Banks Running Out of Coins Bitcoin Keeps On Chugging Along - Cointelegraph

Posted: 20 Jul 2020 02:00 PM PDT

The U.S. economy is experiencing a shortage of coins. With this in mind, the Community State Bank, or CSB, of Milwaukee is offering a five percent premium to customers who turn in coins to one of its locations. Meanwhile Bitcoin (BTC) is not expected to run out of Satoshis anytime soon.

CSB announcing

CSB announcing "Crazy time". Source:  CSB Site.

COVID-19 is to blame

This issue apparently stems from further complications caused by the COVID-19 pandemic. Reasons given include that the U.S. Mint reduced coinage to protect its employees, and that U.S. consumers have been trying to avoid cash transactions as much as possible. Many believe that the recent crisis will serve as a catalyst for the transitioning to the cashless economy.

Quadrillions of Satoshis

As far as we know, Bitcoin has not run into a similar problem and is not expected to do so in the future. As of today, there are 18.44 million Bitcoins or 1.84 quadrillion Satoshis in circulation. If at some point 1 Satoshi were to become too valuable due to the asset's massive appreciation, the community could implement a hard fork to introduce an even smaller unit. Perhaps, an apt name for the new base denomination would be "CSW".

Last month, the U.S. Mint went back to work and is expected to produce 19.8 billion coins by the end of the year.

Was the Massive Bitcoin Rally Engineered by a Single Whale? Possibly | NewsBTC - newsBTC

Posted: 28 Jul 2020 10:06 AM PDT

Yesterday, Bitcoin broke above $10,000 with a $1,500 daily price candle and a push to above $11,400 at the high. During the rally, however, there was evidence of a whale manipulating the crypto market for maximum profit.

Was this whale responsible for the Bitcoin pump, or were they simply well prepared in advance to take advantage of any major market movements?

Strategic Whale Makes Big Splash, Bigger Profit From Bitcoin Market Manipulation

Bitcoin price had been trading in a tight, sideways range for three months, but this week finally broke free and released pent up momentum. The rally propelled Bitcoin through resistance at $10,500 with ease, sending the crypto asset rocketing higher above $11,000 and beyond.

At the daily peak, BTCUSD had tapped $11,419 on Coinbase Pro. It was that exchange that was potentially used as part of a whale's sinister strategy to capitalize on the pump by manipulating the market.

Related Reading | This Golden Bull Market Factor Predicts Bitcoin Will Rocket to $14k

Whales and other market makers have the ability to move the market with their large-sized positions and enormous capital. One particular whale was spotted late in yesterday's Bitcoin surge, using the index price of Bitcoin to make a huge splash on a completely different exchange.

According to order book data from crypto derivatives trading platform BitMEX, a whale was seen going short $44 million worth of BTC across 22 separate orders.

Moments after the position was filled to the whale's satisfaction, a 1000 BTC market dump took place on Coinbase Pro, causing the BitMEX index price to crash.

BitMEX, a derivatives platform, utilizes a funding method tied to an index price that pulls from multiple sources such as crypto exchanges. If the price of the index deviates from spot price on these platforms, funding will adjust until the index price comes back to equilibrium.

But because BitMEX index price is based on Coinbase Pro and other platforms, it can be used to the right strategic actor's advantage.

While it is impossible to know for certain, that appears precisely what took place. Such a sizeable leveraged short position coinciding with the rejection from above $11,400 could have led to substantial profits being made.

bitcoin btcusd

Bitcoin BTCUSD Whale Manipulation | Source: TradingView

The initial rejection dropped Bitcoin's price back to $10,800. Short orders began filling from $11,000 and up.

This isn't the first time a single whale or strategic actor has been speculated to be responsible for a major Bitcoin pump. Back in April 2019, research showed that the rally may have been the result of a single actor with well-timed buy orders on multiple exchanges during the late, low-volume hours of the night.

That pump took Bitcoin from $4,000 to $14,000 before it reversed, with whatever whale behind it taking profits all the way up.

Related Reading | How Crypto Market Fear And Greed Be Used Profitably As A Trade Trigger

If the last time around is any indication of what's to come, this pump may only be just beginning, and this whale will strategically take the largest amount of profit using manipulation at each major pullback.

Winz.io review: The Bitcoin and Fiat casino tested | The bonuses - Crypto News Flash

Posted: 02 Jul 2020 12:00 AM PDT

Winz.io is an online casino aimed at cryptocurrency enthusiasts and those who want to become one. It offers a wide range of different game options and offers Bitcoin, a number of other altcoins, as well as classic deposit and withdrawal methods.

About Winz.io

Winz.io was founded in 2019 and holds a license to operate the online casino, issued in Curaçao, which is located near the coast of Venezuela. Although the casino is comparatively young, it can convince in many aspects and thus become a top player in the crypto casino market. To achieve this goal, Winz.io is currently focusing on comprehensive promotions, low wagering requirements, a very simple and clear user interface and attractive gaming bonuses that benefit users.

It is also very important for an online casino to provide fair and transparent gaming. The seal of approval that guarantees this at Winz.io is the use of Softswiss technology. This is used by numerous gambling websites worldwide. However, Winz Casino stands out from its competitors by offering a high level of transparency and also very attractive promotions.

The website works in all common web browsers, both desktop and mobile, and does not require the download of any software. In addition to this further advantage, the site also offers support for multiple languages (English, Russian and Indian English) and currencies (EUR, USD, AUD, CAD, NZD, JPY, CNY and RUB).

Large selection of games

Winz.io scores particularly well on one of the most important criteria for online casinos, the games and their number. Winz.io has teamed up with only one of the best software providers to guarantee Bitcoin players the best gaming experience. The casino offers players a live casino, as well as live versions of Roulette, Blackjack and Baccarat.

All options are also playable with cryptocurrencies and are developed by Evolution Gaming, the largest provider of live casino games. However, if you wish to play with Bitcoin & Co., you should be aware that certain personal information is required and will be passed on to the provider. This is a routine procedure that cannot be circumvented.

In addition to live games, Winz.io offers a huge collection of slot machine and table games for Bitcoin players to enjoy. In general, Winz.io has more than 5,000 casino games, so there is sure to be a game to suit everyone. To list all the games here would go beyond the scope of this review, so we will only mention a list of categories of games:

  • Crypto Slots
  • Jackpot games
  • Fiat Slots
  • Megaways
  • Buy Bonus Slots
  • Live Casino
  • Table games

The video slot machines make up the majority of the games at Winz Casino. The subject areas include:

  • Pop culture (movies, music, books, video games)
  • History and ancient civilizations (pirates, vikings, aztecs, maya, Egypt)
  • Classic slot machines (fruits and cards)
  • Luxury lifestyle and entertainment
  • Mythical heroes

Promotions

But the huge selection of games and variety of themes are not the only impressive features of Winz.io. The casino has excellent promotions that should inspire Bitcoin gamers. There are two types of Welcome Bonus packages: a package for slot machines (Welcome Slots Bonus) and a package for live casino games and table games (Welcome Live and Table Games Wager Back). The slot bonuses are as follows:

  • Welcome Slot bonus: Winz.io will double your first deposit, giving you up to 1 BTC or up to €100 on your first deposit, with what Winz.io writes is the lowest wagering requirements on the market.
  • 50% on your second deposit + 100 free spins: Winz.io gives you 50% on your second deposit, up to 2 BTC or 200 €. In addition, there are 100 free spins on top.
  • 50% on your third deposit + 200 free spins: Winz.io will match your third deposit by 50%, up to 3 BTC or 300 €. In addition, there are 200 free spins.

Bonuses require a 30x wager on crypto and FIAT currencies. This means that the player must wager the value of the bonus 30 times. The free spins must be activated within 3 days and played within 24 hours, and the bonus money received through free spins must be wagered 30 times within 7 days.

In live games, players will receive a wager back bonus on their first deposit of more than 0.01 BTC or 50 EUR, which will be staggered as follows within two weeks

  • Live roulette, table roulette: 1% of all bets back.
  • Live blackjack, table blackjack: 0.5% of all bets back.
  • All other table and live games: 0,5 % of all bets back.

Players receive payment every Monday, with a maximum of 0.2 BTC or 1,000 EUR per week. The wager back bonus is paid out as real money without any betting requirement!

Deposits and withdrawals

Users of the Winz Casino have numerous options when it comes to deposits and withdrawals. However, paying with Bitcoin and other cryptocurrencies offers numerous advantages. Among other things, the transfer is much faster than with traditional payment methods. On the other hand, there are also much lower fees. Currently, the Winz Casino supports the following cryptocurrencies:

In addition to cryptocurrencies, Winz.io also offers a comparatively large number of Fiat currencies that can be used for deposits and withdrawals.

  • Euro (EUR)
  • American Dollar (USD)
  • Australian Dollar (AUD)
  • Canadian Dollar (CAD)
  • New Zealand Dollar (NZD)
  • Norwegian Krones (NOK)
  • Russian Ruble (RUB)
  • Indian Rupee (INR)
  • South African Rand (ZAR)

Finally, Winz.io also supports the following payment gateways:

  • VISA
  • MasterCard / Maestro
  • Skrill
  • Neteller
  • Paysafe card
  • Tweaker
  • Webmoney

Some payment methods require the disclosure of personal information such as name, date of birth, address and other information. You will find more detailed information on the website or during the payment process.

The minimum amount for some deposits is €20 and the maximum amount is €4,000, although the amount varies from method to method. The minimum amount for a withdrawal is 20 € and the maximum amount is 4,000 €. Again, there are differences between the different methods. You can also find full information on this in the payments section of the Winz.io website.

Support and security

Winz.io offers Bitcoin players a live chat that can be used for any questions or problems that arise. This is in three different languages: English, German and Russian and is available around the clock (24/7) There is also e-mail support. It is also very commendable that Winz provides its players with an extensive FAQ.

As far as security is concerned, the online casino does not collect personal information about players without their knowledge. For some deposit and withdrawal methods, certain personal information must be provided to the payment service provider. The account can only be accessed with the player's unique ID and password. In addition, two-factor authentication (2FA) can be set up to provide a very high level of protection for the player's account.

Excluded countries

Due to legal restrictions, players from the following areas are not allowed to use Winz.io and are not allowed to play real money games

  • United States of America,
  • United Kingdom,
  • Spain,
  • France and its overseas territories (Guadeloupe, Martinique, French Guiana, RĂ©union, Mayotte, Saint Martin, French Polynesia, Wallis and Futuna, New Caledonia),
  • Netherlands,
  • Israel,
  • Lithuania,
  • Netherlands Antilles,
  • Curaçao and
  • Estonia.

Conclusion

Winz.io is an online casino that is convincing in all respects, especially with the deposit options via cryptocurrency, which enable fast and simplified transactions. The more than 5,000 slots ensure that there is a theme for every Bitcoin player's taste. Otherwise, the Winz.io casino is easy to use, even for newcomers. The promotions on both the slot and live games are also very attractive.

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