Bitcoins fork coin led the Futures market on Binance for January – AMBCrypto

The addition of the Futures market for cryptocurrencies has allowed many investors on the sidelines to jump into the field. Perhaps, the first perpetual contract by BitMEX started it all. Now, as of 2020, there are multiple exchanges offering such products, including Binance, FTX, and Deribit, etc.

These products have clearly contributed to the onboarding of institutional investors and they have hence, helped in improving Bitcoins price discovery.

Binances Futures platform was launched six months ago and it has since recorded a considerable increase in trading activity. In fact, over the past six months, more assets have been added to this market.

Binances latest monthly report outlined the performance of Futures for the month of January and showed that Bitcoins market value jumped by 29.89%. Ethereum, Bitcoin Cash, and others also recorded a notable rise in their Futures activity.

However, as seen in the attached chart, Bitcoin Cashs performance was the best of the lot i.e. 84.80% in January.

Bitcoin Cash, the fork of Bitcoin closely affiliated to Roger Ver, registered a major spike in its spot prices. The fork of Bitcoin Cash, Bitcoin SV, also saw a similar surge in its price. The surge for both of these coins can be attributed to the approaching halvings.

Another common reason attributed to the surge in Futures volume by Binance read,

Many market analysts believe that one of the reasons behind the strong performances of altcoins was due to its low valuation. As prices bottomed in late 2019, mid to small-cap altcoins presented a value-driven opportunity for investors.

Further, the fall in the dominance of Bitcoin also opened a window of opportunity for a brief altcoin surge aka the alt season which stopped midway. Bitcoin Cash has surged by a whopping 148% in 2020. The price hit a peak of $497.53 on 14 February, following which it collapsed.

Futures or other products offered by Bakkt, CME, and Deribit help in discovering the price of the underlying assets. The common narrative with the Futures market is that it helps in price discovery. In fact, this narrative was suggested by many analysts before its launch and the same still holds true.

Additionally, regulated markets like the CME and Bakkt will help bring in institutional money and hence, deepen the liquidity. This may pave the way for the much-awaited ETF for Bitcoin.

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Bitcoins fork coin led the Futures market on Binance for January - AMBCrypto

Peter Thiel-Backed Startup Says Texas Is the Best Place to Mine Bitcoin – Cointelegraph

Alex Liegl, CEO of Layer1 Technologies, a US-based Bitcoin (BTC) mining company that recently announced its intention to repatriate 30% of Bitcoins hash power by 2022, has described Texas as offering miners the cheapest power in the world, at scale.

Less than two weeks ago, Layer1 commenced mining operations at its facility in western Texas, bringing multiple 2.5-megawatt container rigs online.

Texas is the largest producer of wind power in the United States, outproducing the second, third, and fourth-largest producers combined. If Texas were an independent nation, it would be the worlds fifth-largest generator of wind power worldwide.

Despite the cheap electricity, many miners have avoided the Lone Star state due to its heat with temperatures regularly exceeding 90 degrees for half of each year. To combat the heat, Layer1s mining apparatus comprises 20-by-8 shipping containers filled with miners that are suspended in a non-conductive liquid.

If they were air-cooled, the processors would burn up," Liegl told Forbes.

During October 2019, Layer1 raised $50 million for its venture capital investors, led by Peter Thiel alongside Digital Currency Group and Shasta Ventures.

The cash infusion funded Layer1s acquisition of an electric substation capable of generating 100 megawatts situated on 30 acres in western Texas and rose the companys value to $200 million.

Layer1 also plans to take advantage of skyrocketing summer electricity prices and selling its power to the grid, with Liegl stating: We can stabilize the grid by selling capacity for curtailment at the push of a button.

During January, Whinstone, a subsidiary of Frankfurt-based mining company Northern Bitcoin, announced that it had inked partnerships with Japanese internet provider GMO and financial services company SBI to process transactions at its forthcoming facility in Rockdale, Texas.

Whinstones facility is slated to launch with a capacity of 300 megawatts, with the company to expand to 1 gigawatt before 2021.

When constructed, Whinstones facility will have three times the capacity as Bitmains mining site in Rockdale which is held to currently comprise the largest mining operation in the world.

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Peter Thiel-Backed Startup Says Texas Is the Best Place to Mine Bitcoin - Cointelegraph

Jack Dorsey Should Be Replaced as Twitter CEO, Investor Proposes – Cointelegraph

Billionaire investor, Paul Singer, is pushing for the removal of Jack Dorsey as CEO of Twitter. According to a CNBC article dated Feb. 28, the Elliott Management founder and activist investor is concerned about Dorseys time being split between two $5 billion-plus companies, and his desire to move to Africa.

The $40.2 billion hedge fund managed by Singer took a major stake in the social media giant recently and has already nominated four replacement directors to Twitters board according to reports.

Dorsey has previously faced criticism for his role as CEO of two publicly listed companies; Twitter and Square, both of which have market valuations of over $5 billion. Singer is also concerned about Dorseys plan to work up to six months a year in Africa.

Dorsey is a long time supporter of Bitcoin and was instrumental in implementing an easy Bitcoin onramp into his company, Squares, Cash App. As Cointelegraph reported this week, a full half of Cash Apps revenue now comes from Bitcoin-related revenue.

Square has also invested in Square Crypto, a team funded by Square, tasked with improving the overall Bitcoin ecosystem. Square Crypto made a number of hires in 2019, including its first hire, Steve Lee, who clarified his position in a tweet recently:

I don't work for Square, I work for Bitcoin. Square pays me so I can spend all my time and energy working on Bitcoin.

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Jack Dorsey Should Be Replaced as Twitter CEO, Investor Proposes - Cointelegraph

Government to Airdrop $9 Billion in Free Money to 7 Million Hong Kong Residents – Bitcoin News

The government of Hong Kong has decided to airdrop about $9 billion in free money to an estimated 7 million residents in the troubled Chinese territory. From a global perspective, this can be seen as a desperate move to stimulate the local economy while the coronavirus outbreak is hitting markets hard all around the world. At the same time, the move can also be seen as part of the governments efforts to stop the persistent protests in the city.

Also Read: HSBC Closes 2 Branches Following New Protests in Hong Kong

In December 2018, an infamous 24-year old Chinese crypto influencer, Wong Ching Kit, made headlines around the world after he was arrested for throwing stacks of HK $100 bills from the roof of a building in Hong Kong and causing mass hysteria. The self-proclaimed bitcoin millionaire stated at the time that the stunt made him feel as if he is god as he was raining money on the people of one of the poorest areas of the city. Now another guy is planning a similar stunt on a much bigger scale, but dont expect him to be arrested anytime soon.

I have decided to disburse HK $10,000 to Hong Kong permanent residents aged 18 or above, with a view to encouraging and boosting local consumption on the one hand, and relieving peoples financial burden on the other, stated Hong Kong Financial Secretary Paul Chan Mo-po on Wednesday. With 7 million people who are estimated to fit the criteria set by Chan, this will total about HK $70 billion, which is almost US $9 billion.

This free money airdrop is the central part of a stimulus package totaling over $15 billion announced by the government. Other steps in the plan include helping poor families with a free month of public housing rent and helping struggling businesses with lower taxes and subsidized electricity.

The main reason given for the need to stimulate the local economy is the outbreak of the novel coronavirus, which has dealt a severe blow to economic activities and sentiment in Hong Kong according to Chan. The pandemic originating in mainland China, interrupting many global supply chains, has hurt the regions tourism industry especially hard and the plan includes specific measures to address this.

Another tough problem for the local economy is the unending protests in the city against what many in Hong Kong see as the loss of their freedom to Beijing. The demonstrations started in June 2019 over a plan to allow extradition to mainland China which many feared will undermine the territorys judicial independence. The controversial extradition bill was dropped in September, but the repeated police violence kept fueling the protest movement.

Social unrest and turbulence have revealed deep-seated conflicts in our community, which cannot be resolved overnight, Chan said. We need to address these conflicts patiently and carefully as they have a far-reaching impact on the stability and development of Hong Kong in the future.

While this free money airdrop by the Hong Kong government is part of a stimulus package, it is important to note that the implementation is quite different from similar plans in other parts of the globe. Hong Kong has long been considered as having one of the most fiscally conservative establishments in the world and this doesnt appear set to change. There is no money printing involved and no borrowing is needed. The plan is easily financed by the Hong Kong governments massive fiscal reserves of HK $1.1 trillion.

Far from being created out of thin air, to be given away, Hong Kongs planned cash handouts have already been paid for, in full, by its taxpayersand with plenty to spare, explained George Selgin, Professor Emeritus of Economics at the University of Georgia. The handouts are nothing more than a government income-redistribution scheme, with no monetary policy implications whatsoever. Those looking for a test of the theory of helicopter money, or for an outbreak of Hong Kong hyperinflation, will have to wait longer for them. With a little luck, theyll wait forever.

What do you think about the government handing out cash to everyone in Hong Kong? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

Avi Mizrahi is an economist and entrepreneur who has been covering Bitcoin as a journalist since 2013. He has spoken about the promise of cryptocurrency and blockchain technology at numerous financial conferences around the world, from London to Hong-Kong.

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You Can Rent This Fully-Staffed Island in the Philippines for Just $97 a NightIf You Bring 15 Friends – HouseBeautiful.com

With more than 7,000 islands, the Philippines is the perfect destination for a tropical getaway. But with so many gorgeous beaches, it can be hard to choose which one to travel to. Well, if youre looking for both a luxurious and private paradise, you can rent this entire island for just $97 a nightif you bring 15 friends.

Brother Island is located in El Nido, a province on Palawan known for its white-sand beaches, clear waters, and coral reefs. On the island, the two-story ancestral house has seven bedrooms, two bathrooms, two extra toilets and two extra showers. Thats enough room for a large group to vacation comfortably.

Along with privacy, youll get to enjoy the local cuisine for breakfast, lunch, and dinner. The package also includes housekeeping, library use, board games, and transportation to and from the El Nido airport. On site, you can book snorkeling expeditions, hiking tours on the mainland, local fishing, alcohol and beach massages.

After relaxing on the beach with a drink in hand, youll want to roam the surrounding nature. With rental snorkels and kayaks, you can explore the coral reef that surrounds the entire island, by renting snorkels and kayaks. Theres also a preserved jungle and bamboo forest where you can hike.

Past tenants raved about the location and friendly staff. Brother Island was a great place to disconnect and relax, one former renter wrote. The island is very beautiful and we enjoyed spending our time on the beach, reading on the porch, and snorkeling.

Are you and your friends ready to vacation on your own private island? Book a stay here.

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You Can Rent This Fully-Staffed Island in the Philippines for Just $97 a NightIf You Bring 15 Friends - HouseBeautiful.com

Disney Is Building an Exclusive Resort on a Private Island in The Bahamas – Yahoo Lifestyle

From House Beautiful

If you love both Disney World and a tropical beach vacation, you're in luck: Soon, youll be able to experience Disney magic on two tropical islands. Disney Cruise Lines is building an exclusive resort on a private island in The Bahamas. Disney already owns a private island in The Bahamas called Castaway Cay, which is reserved for Disney Cruise Line guests on Bahamian and Caribbean cruises. South of Castaway Cay, Disney is spending between $250 million and $400 million to build a new resort on the island of Eleuthera at Lighthouse Point.

Photo credit: Disney Cruise Lines

Once Lighthouse Point is open, Disney Cruise Line guests will be able to enjoy the islands gorgeous beaches and surrounding verdant nature. Renderings of what the resort will look like show numerous umbrellas and chairs along the sandy shore. Amid palm trees and greenery, there are also bungalow-style buildings connected by elevated walkways, which are meant to help reduce environmental impact.

Disney Imagineer Joe Rohde will help bring Disneys vision to life on the island. Having previously designed a Disney Resort Spa in Hawaii and Disneys Animal Kingdom theme park in both Orlando and Aulani, Rhodes is more than qualified to design this new project. He plans on incorporating the existing Bahamian culture into the resort. The Lighthouse Point site is so beautiful and so full of nature that we want to preserve this and use our designs to call attention to the extraordinary quality of the place itselfa place of natural beauty with a rich and fascinating cultural tradition, Rohde said in a press release.

Photo credit: Disney Cruise Lines

Construction is projected to begin this year, and the resort should be open in 2022 or 2023. Dont want to wait a few years to vacation at Lighthouse Point? You can plan a trip at Castaway Cay here.

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Disney Is Building an Exclusive Resort on a Private Island in The Bahamas - Yahoo Lifestyle

Always Wanted To Book An Exclusive Private Island For Your Vacation? Here’s How – Singapore Tatler

Blame Robinson Crusoe. His 300-year-old story of shipwreck, misery, God, cannibals, slaves and savages has, over the course of time, morphed into a dream castaway experience. The deserted island mirage, with sunny days and balmy nights, swaying palm trees and white-sand beaches, sends the best of us into a trance. Transformative travel may be all the rage, but the restorative power of getting away from it all and doing nothing should not be underestimated. Its fuelled a boom in private-island resorts, scattered in cays and atolls across the oceans, offering levels of pampering that would make Mr Crusoe weep with joy on his boy Fridays shoulder.

From Fiji to the Philippines, youll find overwater villas, underwater spas, floating bars, infinity pools, celebrity chefs, personal butlers, yoga gurus, glorious sunrises and spectacular sunsets, minus the hoi polloi. The best nurture the mind, body and soul, while newer breeds such as Wa Ale in Myanmar and Bawah Reserve in Indonesia are grounded in conservation and philanthropy. Upping the ante are exclusive-use private islandsthe Maldives is a fail-safe place to start: Four Seasons Voavah, the Owners Villa at Cheval Blanc Randeli and Ithaafushi Private Island at the Waldorf Astoria are all worth a look. But for the ultimate in exclusivity and privacy, these three islands take it to another level.

(Related: Royal Caribbean Will Build A Luxurious Sustainable Private Island In The South Pacific By 2022)

What do you get for US$100,000 at Banwa? For a start, it buys you a night at this 6ha slice of paradise in Palawan, a two-hour helicopter or seaplane hop from Manila. On it are six contemporary villas accommodating up to 22 people, with floor-to-ceiling windows, private infinity pools and beach frontage. Theyve also thrown in a short golf course, tennis court, water sports, cocktails and organic meals on demand, as well as unlimited messages. And because its within a marine conservation area, look out for Hawksbill turtles, whale sharks, Tabon birds and Mantanani scops owls. Be warned, though, one night is not enoughyoull want more, many more.

(Related: A Travel Guide To Siargao IslandOne Of The Philippines' Best Kept Secrets)

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Always Wanted To Book An Exclusive Private Island For Your Vacation? Here's How - Singapore Tatler

Where to stay on St. John – The Glen Rose Reporter

Waking up at Calichi at Picture Point, the new eco-meets-luxury private villa enclave on St. John, is nothing short of a dream. Perched 1,200 feet above sea level on Bordeaux Mountain, I eyeball a fleet of white sailboats gently rocking in Coral Bays sun-kissed harbor and soak in a postcard-worthy panorama of the surrounding islands floating like emerald gems in a sparkling sapphire sea St. Thomas, Puerto Rico and Vieques to the west, Tortola and Jost Van Dyke to the north, and St. Croix to the south.

With two-thirds of the island designated as Virgin Islands National Park, St. John boasts a raw splendor that sets it apart from other Caribbean destinations riddled with over-development. You wont find high-rise hotels competing for shoreline space nor all-inclusive resorts splayed across the islands protected beaches. The beachfront cottages fringing the once-luxurious Caneel Bay Resort still stand as hollowed frames on deserted grounds more than two years after back-to-back Category 5 hurricanes devastated the island. Instead, visitors have their pick of a handful of resorts and inns, vacation villas and rentals and the new stunning, self-sustaining development known as Calichi (calichi-stj.com). Boasting an eco-friendly mindset every bit as green as the islands in view, Calichis concept was born from what the island lacked a luxurious yet environmentally friendly St. John getaway.

We wanted to know how self-reliant we could be how we could reduce our carbon footprint, says Tom Buttermore, one of the longtime St. John visitors-turned-locals behind the project designed by Barefoot Design Group. At the same time, we wanted to deliver a high-end experience. Eco doesnt have to mean rustic or sacrifice. Eco can be luxury.

Each of Calichis fully equipped private one- and two-bedroom villas, built with sustainable materials and outfitted with custom artwork, modern furniture and sleek finishes, gourmet kitchens, luxurious linens and expansive decks, encircles the highest and largest private pool complex on the island. Guests enjoy the privacy afforded by their villa but also have the option of gathering with a group at the palatial infinity edge pool, which features a 65-foot lap lane and stainless steel spa flanked by lounge furniture, an outdoor grill, fire pits and a putting green.

On an island that experiences frequent power disruptions and strong storms, Calichi remains completely off-grid capable. More than 240 solar panels power 18 Tesla power walls, enabling the property to produce 98 percent of the energy it requires without guests sacrificing modern comforts all powered by the sun and collected from the skies. While we used air conditioning in the afternoons, we fell asleep each night fanned by the tradewinds, and instead of purchasing bottled waters, we refilled reusable thermoses with rainwater caught and purified on-site. Guests can pack light knowing Calichis villas are equipped with everything needed for a day at the beach or an evening in. Those wanting a completely hassle-free getaway can take advantage of the fully personalized concierge services on offer, ranging from private chef and spa services to grocery provisioning and sailing away for the day aboard Calichis flagship yacht.

Spending a week at Calichi was an undeniably magical way to kick off our month in paradise, but we also stayed at several other spots, including a sprawling resort, a multimillion dollar villa and an affordable condo each appealing to a different type of traveler.

Relish the resort life?

Look no further than The Westin St. John Resort Villas. This 45-acre villa resort stretching across Great Cruz Bay is back and more beautiful than ever after a 16-month-long hurricane recovery and restoration effort. From our oceanview studio, equipped with a kitchenette, washer and dryer and private balcony, we were mere steps from a plethora of resort perks sprinkled around the lushly landscaped grounds roamed by resident iguanas, ranging from a quarter-acre pool and fitness center to an all-new private ferry that takes guests back and forth from St. Thomas and a fleet of complimentary kayaks and paddleboats. Book a studio or villa at westinstjohn.com.

Bunking up with a big group?

For more than 15 years, weve booked villas through Destination St. John, the islands longstanding, locally-operated rental company boasting more than 40 diverse properties. When my parents and siblings joined us for a week, we stayed at the luxurious five-bedroom Villa Tesori perched above the bejeweled waters of Rendezvous Bay. For close-knit groups wanting to stay together, villas offer one of the most authentic ways to experience the island we spent our days beaching and hiking, stopped off at the market on the way back, and enjoyed easy evenings grilling poolside or cooking together inside our dreamy home-away-from-home. Search for the perfect villa at destinationstjohn.com.

RELATED: A treasure trove along Floridas Emerald Coast

Traveling on a budget and for the beaches?

If you plan to spend most of your time exploring the island rather than lounging inside your room, opt for an affordable, independently-owned property listed on Airbnb and HomeAway/VRBO. Weve cherished our repeat stays at the recently-renovated, locally owned condo, Kachi Ra, kachira.com, which offers a cozy and comfortable home base for a couple or small family without the high price tag.

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Where to stay on St. John - The Glen Rose Reporter

Top airports for private aviation in the Caribbean* – Travel Daily News International

The Caribbean is a top destination for private jet travelers, thanks to its mix of sun, sand and nightlife. Whether its famous St. Maarten, Turks & Caicos or The Bahamas, this region delivers its promise of paradise. And the best part is that these islands are very close to South Florida, the natural private aviation hub that serves as the gateway for anyone traveling to this region. Just one-hour separates some of these island-nations from Miami, a fact that explains the high demand of private flights throughout the year.

The private aviation experience is usually connected with jet planes and, although the quickest option, a turboprop aircraft is more efficient for shorter routes thanks to design and overall operational costs. Especially for trips of under two hours like the ones from Miami or Fort Lauderdale to any island, turboprops should be considered as a top option.

Whats the most common destination in the region? For Monarch Air Group, a private jet provider based in Fort Lauderdale International Airport, The Bahamas accounts for most of private flights departing from South Florida, totaling almost 50%. There are 27 other nations in the Caribbean, but the variables that support The Bahamas as the top destination from the South Florida hub is its modern business aviation infrastructure, on one side, and the top-notch hospitality industry that awaits the traveler.

Overall, the Caribbean offers the exclusivity that many travelers seek while providing the first-rate holiday all visitors deserve. Commercial aviation is indeed the most popular means of transportation for millions each year, but the proximity of the Caribbean to South Florida allows private aviation to thrive within both regions. The following are the top airports from a private aviation perspective when accounting for its infrastructure and vicinity to destination.

Top private jet airports1) V. C. Bird International, Antigua and Barbuda (ANU), is the only airport on the island of Antigua and has a solar power plant that provides almost enough energy to power the entire operation.This destination, with exclusive retreats and luxury resorts, offers an ideal location very popular with private jet travelers.2) Luis Munoz Marin International Airport, San Juan, Puerto Rico (SJU), is one of the busiest terminals in the Caribbean for airline flights and private jet charter operations. It is a popular gateway between the Caribbean and US, while also served by various big-name airlines around the globe.3) Lynden Pindling International Airport, Nassau, The Bahamas (NAS), formerly known as Nassau International Airport, is the busiest business airport in the region with over 4,000 flights annually, largely thanks to the proximity to South Florida.4) Leonard M. Thompson International Airport, Abaco Islands, The Bahamas (MHH), is located in the northern Bahamas and is the second busiest private jet airport in the nation. It lies 180 miles east from South Florida.5) Robert Llewellyn Bradshaw International Airport, St. Kitts (SKB), receives various regional flights from within the Caribbean area. The RLB international terminal also provides facilities for cargo planes, private jets and various other types of aircraft.6) North Eleuthera Airport, The Bahamas (ELH), is known for its pink sand beaches and coral reefs. The small airport serves visitors to the northern stretch of the long thin island (just a mile wide in some places), as well as others nearby in the country such as Harbor Island and Spanish Wells.7) Princess Juliana International Airport, St. Maarten (SXM), is famous for offering one of the worlds most stunning landings, with aircraft coming in low over the beach. The airport serves an important hub in the Caribbean, connecting commercial flights and those in larger private aircraft, with smaller planes headed towards more remote islands.8) Providenciales International Airport in Turks & Caicos (PLS) accommodates private jet flights of all sizes, with travelers attracted to the world-renowned beaches and luxury resorts, plus the attractive conditions for offshore finance.

Established in 2006, Monarch Air Group is a leading provider of on demand private jet charter, aircraft management and long-term aircraft lease. Among Monarchs customers are Fortune 500 corporations, leading entrepreneurs, Government agencies and world leading NGOs.

* Article by MOnarch Air Group

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Top airports for private aviation in the Caribbean* - Travel Daily News International

Witness says he saw Prince Andrew grope Virginia Roberts on Jeffrey Epsteins island – New York Post

A witness claims to have seen Prince Andrew grope Virginia Roberts Giuffres butt on Jeffrey Epsteins Pedophile Island, a report said Saturday.

Steve Scully, 70, told The Sun that he saw the disgraced prince kissing and grabbing a young blonde woman wearing a bikini someone he believes was Giuffre by a pool on Epsteins private island, Little St. James.

He was grabbing her ass and stuff like that. They were kissing, Scully told The Sun. He was grinding against her and groping her.

Scully, who reportedly worked as Epsteins internet and phone specialist, said that the woman wasnt resisting.

They were bumping and grinding and fooling around for five, six, seven minutes and they then laid back down on the lounge chairs and continued, Scully said.

But the new witness said he was shocked by how young the girl looked.

She stood like a kid would stand behind a parent, he said.

They walked off together and I went the other way.

Last week, the top prosecutor in the US Virgin Islands revealed to Vanity Fair that an employee had come forward as a witness.

An employee told me that he saw Prince Andrew on a balcony out at Little St. James groping girls right out in the open, Attorney General Denise George said.

In legal papers and in television interviews, Giuffre has repeatedly accused the Duke of York of having sex with her three times, including while she was underage. He was removed from his royal duties in November after a disastrous BBC interview in which he denied bedding or even knowing Giuffre and defended his friendship with Epstein.

Andrew and Buckingham Palace havevehemently deniedthe accusations against him. He went as far as to call her a very sick girl to a friend in 2011 after he was first linked to Epsteins pedophile scandal.

In recent weeks, four Epstein accusers have written an open letter to Andrew who has refused to speak to authorities begging him to talk to the FBI about the allegations.

Socialite Christina Oxenberg, who is a distant relative of the royals, said Epsteins gal pal Ghislaine Maxwell once told her that the pair had everyone videotaped, The Telegraph reported Friday.

Ive seen the video rooms- EVERY SINGLE ROOM was being filmed. Ive even seen some of the pics- why are the feds taking so long with arrests, Roberts pleaded on Twitter Saturday. Everyday I wake up hoping that someone has been held accountable and everyday I wake up disappointed. #DoSomethingAlready.

Giuffres lawyer, David Boies, said she does not remember the specific incident described by Scully.

But Boies added that Scully is a very significant witness.

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Witness says he saw Prince Andrew grope Virginia Roberts on Jeffrey Epsteins island - New York Post

Cruise Ship Allowed to Dock in Cozumel After Being Denied by Two Other Ports – Cruise Hive

The MSC Meraviglia which has been denied entry to two cruise ports has finally be allowed to dock in Cozumel, Mexico.

Thousands of passengers aboard the MSC Meravigilia have not had the cruise vacation they expected as the vessel was denied entry to two popular Caribbean cruise ports. You can read our earlier news post about this right here.

With a Filipino crew member who came down with the common flu onboard, authorities in Jamaica and Grand Cayman decided to deny the large vessel from making its scheduled ports of call on February 25 at Ocho Rios and February 26 in George Town.

As a precaution, due to coronavirus fears across the world and sharp increases in cases in Italy were among the reasons the ship was blocked.

The good news is the vessel was allowed to make its call in Cozumel, Mexico today after a final authorization from the local health authorities in the State of Quintana Roo, Mexico. The ship is currently docked at the Punta Langosta pier in downtown Cozumel.

The ship almost didnt make it due to high winds near Cozumel which were 35-40 knots. Also, health officials had to board the vessel to make some checks as maritime protocols.

The cruise line provided Cruise Hive with the following latest statement:

As anticipated, MSC Meraviglia arrived off the West Coast of Cozumel on 26 February around 9:30 PM ET (3:30 AM CET). Due to unfavourable weather conditions, including 35-40 knot winds and stormy conditions, MSC Meraviglia is currently awaiting near pilot station for winds to decrease and the ship to be able to safely board pilot and enter port. The maximum wind speed permitted by the port of Cozumel for berthing is 25 knot winds.

Based on current weather forecast, weather conditions are expected to improve by tomorrow morning at around 8 AM ET (2 PM CET). As soon as this happens, the ship has already agreed with the local port authorities to board the pilot and head into port.

As previously announced, over the course of the day MSC Cruises has received formal and final authorization from the local health authorities in the State of Quintana Roo, Mexico to go to Cozumel.

The next port of call is at MSC Cruises private island of Ocean Cay in the Bahamas and the ship is scheduled to arrive back at PortMiami, Florida on March 1. There previously posts on social media of the ship canceling the call in Cozumel and instead of sailing to Honduras but this ended up not being the case.

Also Read: Another 14-Day Quarantine to Begin for Diamond Princess Crew Members

Like other cruise lines, MSC Cruises continues to do health screenings on all passengers before embarkation. This includes checking travel history and anyone who has traveled through, to or from certain countries with coronavirus will be denied boarding.

MSC Meraviglia is a huge ship with a capacity of over 4,400 at double occupancy. The vessel is 172,598 gross tons.

This comes as another large cruise ship operated by Costa Cruises has denied to dock in Tortola in the British Virgin Islands due to sick passengers onboard, read more here.

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Cruise Ship Allowed to Dock in Cozumel After Being Denied by Two Other Ports - Cruise Hive

Seaside Finolhu becomes the first luxury resort in Maldives to be accepted as a member of Design Hotels – Travel Daily News International

Seaside Finolhu has become the first luxury resort from the Maldives to be accepted as a member of Design Hotels, the globally-recognised resource for curated design-led hotels. Operated by the German hotel company, Seaside Collection, Finolhu earned its place as the only resort in the Maldives to be included in Design Hotels prestigious international portfolio after successfully meeting the criteria of embodying quality, style, and holistic hospitality concepts.

Embracing its kaleidoscope design concept, Seaside Finolhus aesthetics are characterised by a mesmerising mlange of colours and symmetrical patterns that complement the luxury island resorts pristine natural beauty in a stunning representation of joy, wonder and a feeling of escaping time.

Gregor Gerlach, owner and Managing Partner of Seaside Collection, spoke about the recognition from Design Hotels: "Our vision for Seaside Finolhu is to bring a modern, bright, open sense of feeling where travellers can experience special moments and enjoy themselves. Were proud to be recognised internationally as a member of Design Hotels, not to mention being the first and only Maldives resort in their list. We look forward to improving constantly and transforming Finolhu to align with the Seaside Collection brand.

Translated as sandbank, Finolhu is one of the finest island resorts located in the UNESCO-protected Baa Atoll, famous for its mesmerising diversity of reefs, submerged cliffs, and small, round underwater hills known as thilas. The resort comprises a mix of 125 stylish and private overwater and beach villas, available in one- or two-bedroom options, half of which have their own pools and offer stunning views of the Maldivian seascape. The resorts four beachside dining venues offer a variety of exciting flavours, from laid-back favourites to authentic classics, and delightful fine dining. The fully-equipped spa and wellness facility offer holistic programmes and treatments with a fusion of the East and West. The wide-range of activities available for all ages are as engaging as the stunning scenery of the coral reefs beneath the waves.

Another distinguishing feature of Seaside Finolhu is its iconic Beach Bubble. The first of its kind in the Maldives, the bubble is located in a secluded spot along Finolhus marvellous sandbank. Exclusively available for guests wishing to enjoy a uniquely romantic night under the stars, the one-night-only Dream Eclipse experience includes private dinner and breakfast served on the beach.

With Seaside Finolhu currently undergoing a major upgrade that is due for completion in the second quarter of 2020, the resort aims to develop its distinctive barefoot chic atmosphere that combines Maldivian-inspired touches with ultra-luxury modernity. Previously characterised as a fun and relaxing island playground, the resorts new look will showcase contemporary design mixed with a distinct organic edge. Natural raw materials such as ropes, clay and timbers are being incorporated into Finolhus refreshing new colour palettes to create an interesting visual harmony.

Award-winning London-based design studio Muza Lab has been charged with overseeing the resorts redesign. Muza Labs co-founder Nathan Hutchins told us how excited he is by the challenge. When we first arrived on Finolhu, a beautiful stretch of bijou islands; exotic jewels strung together amongst the ombr shades of the azure, the light and the colour immediately struck us. Colour cannot exist without light. It is this relationship of light and colour that we wanted to explore through our new design direction for Finolhu; the dappled play of sunlight as it hits the water, the transformation of the rays against the colourful underwater scope and above, highlighting the vibrancy of the tropical landscape - the sand and the palms.

Our new design direction focuses on the lens of the Kaleidoscope the changing colours, patterns and textures representing moments of discovery, wonder and delight explained Hutchins. Throughout the resort, we have woven special features; woven textiles, basketwork coloured glass, lanterns and origami, through distinct areas each assigned to a unique colour spectrum. Vibrant pops of colour, contrast against gentle pockets of light and shade and evolving scene as day turns to night. Finolhu has allowed us to play, to experiment, to have fun with the design - to celebrate natures playground.

As the redesign nears completion, Muza Labs co-founder Inge Moore explained what guests can expect from the redeveloped resort: Finolhu is all about fun, for all the family, for the young and the young at heart. From the ultimate party pad that is the Rockstar Suite to the kids own Beach Club to the Crab Shack set on its private island and the Sunset Bar dressed in its raspberry pink and red hues, we have created lots of different little corners to disappear and just be.

Recognising the importance that Finolhu places on being a family resort, Moore added: We have created special places for families to play together; an art studio complete with a kiln, a concept gym, beach bars and, for those seeking a little me-time, a tranquillity spa retreat with its private beach. By applying a mindful approach to the design, we have focused on creating special moments that draw people together through a simple luxury that allows the natural beauty of the island to radiate.

Overseen by Muza Lab, artisans from around the world have produced standout works bespoke to the resort; handmade tiles and handblown glass from Turkey, Chandeliers and basket work from South Africa, and timber artwork from Java complete Finolhus exotic new playground.

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Seaside Finolhu becomes the first luxury resort in Maldives to be accepted as a member of Design Hotels - Travel Daily News International

Bob Hope And James Cagney Partied At This $6 Million Beach House – Forbes

This South Hutchinson Island beach house was once a hotspot for Hollywood celebrities like Bob Hope, ... [+] Jackie Gleason and James Cagney.

A sprawling Malibu-style beach house with a glamorous Hollywood pedigree comes ashore to the Florida market, specifically Hutchinson Island, an East Coast hamlet known for its loggerhead turtles, seashells, sea glass and celebrities.

This sprawling beach house was once the home of singer-actress Francis Langford-Evinrude and boating ... [+] magnate Ralph Evinrude.

Located on the islands south end, the 7,792-square-foot property is the former home of actress Francis Langford and her boating magnate husband at the time Ralph Evinrude, a prominent couple who entertained 1950s icons like Bob Hope, James Cagney, Jackie Gleason, Perry Como and Don Ameche.

Actress-singer-songwriter Frances Langford who wrote and popularized the song "I'm In The Mood For ... [+] Love." Photo by Michael Ochs Archives/Getty Images

Francis Langford was the glamorous singer-songwriter of the classic song Im In The Mood For Love (from her debut film Every Night At Eight) and she was popular during the golden age of radio. As an actress, she starred in Hollywood musicals like Cagneys Yankee Doodle Dandy. She joined comedian Hope on some of his famous USO tours, entertaining military troopseven General George S. Patton.

Frances Langford signs entertains and signs autographs for troops at a USO tour during World War II. ... [+] (Photo By Al Moldvay/The Denver Post via Getty Images)

Later in life, she later married Ralph Evinrude, an outboard motor tycoon. By the 1980s, the couple owned a 108-foot yacht called Chanticleer, where they also entertained their celebrity friends.

Frances Langford and Bob Hope during Bob Hope's "Don't Shoot It's Only Me" Special at NBC Studios. ... [+] (Photo by Jim Smeal/Ron Galella Collection via Getty Images)

Like the yacht, the Hutchinson Island house was designed for entertainers and beach lovers. This luxury real estate listed for $6 million, by Blaine Doc Ellingson of ONE Sothebys International Realty.

The Malibu-style beach house has unique design elements like Pecky Cyprus walls and a fireplace ... [+] crafted from London Bridge original granite.

The private-gated residence features quirky architectural and design elements such as Pecky Cyprus walls, Green Heart tree trunks imported from South America, a fireplace crafted from London Bridge original granite, and bricks from Fort Jefferson in the Dry Tortugas (barrier islands 70 miles west of Key West).

The 7,792-square-foot property is the former home of late singer-actress Francis Langford-Evinrude.

Its hardly surprising a Hollywood entertainers home was designed for entertaining. Steps from the beach, the oceanfront residence offers five private bedrooms, united by covered patios overlooking sweeping Atlantic Ocean views.

Cabana bar

Outdoor entertainment spaces boast a cabana bar, custom-lit pool and hot spa encircled by Polynesian tiki torches, and landscaped gardens with tropical foliage and coconut palms.

Whimsical kitchen

Hutchinson Island is known for its loggerhead turtle nesting areas. Each season, five species migrate to the island where residents marvel at morning turtle tracks along the beach.

The oceanfront home offers five private bedrooms with a view.

The oceanfront home offers five private bedrooms with a view.

The island is located near offshore natural and artificial reefs that wrecked Spanish galleons during the 17th and 18th centuries, allowing for rare ancient artifacts, seashells and sea glass to wash ashore.

Spa bath

Hutchinson Island rivals Sanibel Island for low tide seashell and sea glass beach combing. Sand dollar beds can be found walking or snorkeling along sandbars.

Outdoor entertainment spaces include a cabana bar, pool, hot spa and this relaxing hammock.

However, discriminating hunters must leave live purplish or greenish sand dollars on the beach. White sand dollars are all yoursfor free.

Hutchinson Island beaches are famous for rare ancient artifacts, seashells, sea glass and loggerhead ... [+] turtle nesting areas. (Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images)

But this Ocean Blvd. Hutchinson Island home will cost you a few shekeles more.

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Bob Hope And James Cagney Partied At This $6 Million Beach House - Forbes

Bitcoin Price Live, Bitcoin Chart BTC Value Today, BTC to …

THE TEAM

Bitcoin was created by an anonymous name called Satoshi Nakamoto Other notable names rumored to be part of the team include

The practical uses of Bitcoin

If you have the required hardware, you can mine bitcoin even if you are not a miner. There are different ways one can mine bitcoin such as cloud mining, mining pool, etc. For cloud mining, all you need to do is to connect to the datacenter and start mining. The good thing about this is that you can mine from anywhere and you dont need a physical hardware to mine.

For mining pool, all you need to do is to join a mining group, and if that team solves a computational problem, blocks are added to the blockchain, they get the reward and you get a share of it based on your contribution.

PoW algorithm-SHA-256 is used for mining. Which utilizes a lot of computational power.

How Does Bitcoin Mining Work?

Bitcoin mining saps energy, costly, uses more power and also the reward delays. For mining, run software, get your wallet ready and be the first to solve a cryptographic problem and you get your reward after the new blocks have been added to the blockchain.Mining is said to be successful when all the transactions are recorded in the blockchain and the new blocks are added to the blockchain.

Bitcoin Price Today

Die-hard BTC supporters believe that bitcoin is the future; we are just scratching the surface.Considering the continuous rise of bitcoin in the market capitalization, it is one investment every investor needs to take advantage of it.

The current market capitalization of bitcoin stands at an all-time high of $109 billion. As at January 2016, bitcoin was traded at I BTC for $970 but today is being traded at $9,600 for 1 BTC.

From the statistics presented above, it that bitcoin is one investment, you will never regret embarking on. It keeps recording an impressive results daily in the cryptocurrency market.

MUST READ!

Cryptocurrency investment is speculative, and it involves unquantifiable risks the market is full of uncertainty, susceptible to attack and capital loss, and sensitive to secondary issues, time may do not permit to mention here.Seek advice before investing.

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Bitcoin Price Live, Bitcoin Chart BTC Value Today, BTC to ...

Bitcoin Price Falls $1,400 in One Week Is the Bear Market Back? – Cointelegraph

This week the equity markets experienced their worst week in 12 years and as this meltdown took place the crypto market also took a hit.

Bitcoin (BTC) and the cryptocurrency market saw a significant selloff this week and this outcome is relatively reasonable given that people sell their assets out of fear of potential economic instability. Other safe-haven assets like gold and silver also saw a massive selloff on Friday.

Are the crypto markets going to find support in the coming weeks, or will we see a continued downtrend in momentum?

Crypto market daily performance. Source: Coin360

The price of Bitcoin found resistance at the $10,400 level, after which a test of the $9,400 support was heavily needed. The $9,400 level was unable to provide sustainable support and as the price fell through it this caused a significant selloff throughout the crypto market.

BTC USDT daily chart. Source: TradingView

The sell-off led to the next support area at $8,200-8,400 and many horizontal levels are lining up here, providing potential temporary support and space for a relief rally.

However, for the short term, many believe that the upwards momentum is out of the markets as the price of Bitcoin is making a lower low (a key indicator for downwards momentum) on the daily timeframe.

Does this mean that the entire crypto market will reverse course and enter a bearish trend? Not at all. The price of Bitcoin is still 27% higher as on the 1st of January, which makes Bitcoin one of the best-performing assets of the year.

BTC USD 1-week chart. Source: TradingView

The weekly chart is currently resting on an exciting MA (Moving Average), namely the 21-week MA. The previous bull cycle held this level as support towards the bull peak in December 2017, which makes this an interesting indicator for bulls to hold on to.

If the price could find support at this level, it could mean a continuation of bullish momentum in the coming period.

BTC USD 1-week chart. Source: TradingView

The weekly chart also clearly shows the massive selloff of the past week. However, its currently resting on potential support. Holding the green zone around $8,400 would line up with the 21-WMA and possibly grant a relief rally.

For sustained upwards momentum, its crucial that a breakthrough of the past high at $10,400 takes place but such a move could take some time. The market must find support before these levels can be targeted.

If Bitcoin price cant find support at $8,400, the next level to target is at $7,500-$7,700.

Total market capitalization cryptocurrency chart. Source: TradingView

The total market capitalization for cryptocurrencies was unable to break above $300 billion and also couldnt find support at $250 billion so further downwards momentum was expected.

Currently, an exciting level is approaching as the 21-WMA is also showing up on this chart. Through the whole bull cycle of 2016-2017, the 21-WMA granted support on the total market capitalization as a whole. Providing support in this area would give bulls arguments for upwards momentum.

Aside from the 21-WMA, a crucial horizontal level can be seen here. During 2018 and 2019, the market capitalization found support at the $225 billion level several times. Showing support here would grant potential upward continuation, as the total market capitalization had been making higher lows since the bottom in December 2018.

Total altcoin cryptocurrency market capitalization chart. Source: TradingView

The altcoin market capitalization shows a similar outlook as the rest of the market. There was a massive rejection at the horizontal level at $115 billion, through which the altcoins are searching for support also.

The next significant level is found around $73-$75 billion, which is similar to the $225 billion of total market capitalization. Since the bottom in December 2018, altcoins have been consistently made higher lows, warranting a new upwards trend to occur. Finding support around the $73 billion levels would warrant another higher low and potential continuation upwards.

If the scenario turned bullish, a relief rally towards $9,200-9,400 would be the first step. To do this, Bitcoin price needs to find support at $8,250-$8,400 in order to sustain some upwards momentum to retest previous support levels for resistance.

BTC USD 12-hour bullish scenario chart. Source: TradingView

The next important question investors will ask will be: Can Bitcoin price break through the resistance and continue its upward momentum? If the answer is no, a likely retest of the $8,200-$8,400 area is next to occur.

However, breaking the resistance around $9,200-$9,400 and making it support would open the door for a move to the next levels near the $10,400 highs of two weeks ago.

And finally, finding support around this area would confirm the 21-WMA to be supported again, which is a massive indicator for bull/bear momentum.

BTC USD 4-hour chart. Source: TradingView

Theres no clear guideline for a bearish scenario at this point, but the chart is showing several perspectives. What traders should look for are potential bearish retests. If the price of Bitcoin rallies upwards without any volume and rejects at $8,950 or even $9,175, a bearish retest is confirmed, and the price should trend further down.

If such a bearish retest occurs, the price will likely retest the support around $8,200-$8,400 one more time.

However, the more support gets tested, the weaker it becomes. Heavy retests of this support would typically induce further continuation downwards to $7,500-$7,700 as the next primary support after this zone.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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Bitcoin Price Falls $1,400 in One Week Is the Bear Market Back? - Cointelegraph

How Much $100 of Bitcoin Could Be Worth When the Last Coin is Mined – Bitcoinist

Everybody knows that one day Bitcoin mining will eventually cease, and the last coin will be mined. The date for this is expected to be around the year 2140. So what could an investment of $100 now be worth in 120 years time?

To estimate the price of Bitcoin well into the future we need to take a look at growth models for the cryptocurrency. The two most well-known are Parabolic Travs Parabolic super trend price growth model, and Plan Bs Stock to Flow price model (S2F).

Well also have to take into account that if hyperbitcoinization does occur, and Bitcoin becomes global money used by everyone, and no other kind of currency exists at all, there are still limits to Bitcoins price growth.

Hal Finney predicted Bitcoin to have a price of 10 million per coin back in 2009. In Finneys estimate he simply took the estimates for world household wealth and divided it by 21 million coins.

He arrived at $10 million per coin. Decrypt revisited the idea, and recalculated with updated numbers and came to a price of $18 million per coin. Bitcoins parabolic growth can only keep rising until there is no more wealth whose value can be converted to Satoshis.

Parabolic Travs parabolic super trend model closely correlates with Plan Bs stock to flow model. While many investors discount the idea of parabolic growth, Bitcoin has already grown 2,232,111,011.11% since Marti Malmi sold the first Bitcoins for fiat currency in 2009, to its all time high of $20K in 2017.

Bitcoin follows an S-curve of technological adoption, because while it is a currency it is also new technology, which is being adopted by new users at S-curve adoption rates.

See the similarities in Travs parabolic price model and S-curves of new technology adoption? They are both parabolic. We may see BTC follow the steeper curve exhibited by smart phones and the internet.

Stock to flow is how many years it would take to produce the current total supply of an asset. Golds stock to flow is 62. It would take 62 years of mining to produce the current world supply.

Plan Bs S2F further supports this parabolic growth with the model he provided to show the impact Bitcoins halvings have on price. Bitcoins S2F is 25, currently but will be halved to an S2F of 50, much closer to gold.

On the graph above you can see the parabolic price increase overlaid with the reduction in block rewards every 210,000 blocks (roughly 4 years).

Plan Bs model predicts a trillion dollar Bitcoin market cap after the upcoming halving, or a projected price of $55,000 per BTC.

Following Plan Bs model, Digitalek.net projects the price of BTC in 2025 to be $1,215,730.5 per coin.

Credit Suisse estimates global household wealth to be $360 trillion in USD. Dividing this number by 21 million Bitcoin puts us at a price of $17,142,857 per BTC.

However, Chainalysis estimates that as much as 4 million BTC have been lost, so lets calculate for 17 million BTC. Using Finneys calculation with 17 million BTC instead of 21 puts us at $21,176,470.58.

Assuming hyperbitcoinization occurs by 2140, $100 dollars of BTC at todays current price of $8880, would be 0.01126 in Satoshis. These same Satoshis could have a projected value of $238,373.77 by the time the last Bitcoin is mined in 2140.

How much do you think 1 BTC will be worth in 2140? Let us know in the comments!

Images via Shutterstock, charts by Market Realist, Planb, HCBurger1, Tradingview @ParabolicInvestor

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How Much $100 of Bitcoin Could Be Worth When the Last Coin is Mined - Bitcoinist

Finnish Authorities Have $15M in Seized Bitcoin But Don’t Want to Sell It – CoinDesk – Coindesk

Finland's customs agency has been struggling with what to do with a horde of bitcoin (BTC) it fears could end up back in the hands of criminals if sold off.

Finnish Customs, known locally as Tulli, has been trying to offload a total of 1,666 bitcoin for several years, even drawing up a plan in September 2018 for a public auction of the digital coins. But officials have concerns that a sale would attract the wrong kind of attention and could even put the agency's own security at risk.

Speaking to local media, Tulli Director Pekka Pylkkanen said: "From our point of view, the problems are specifically related to the risk of money laundering. The buyers of [cryptocurrency] rarely use them for normal endeavors."

Tulli confiscated the bitcoin trove following a successful bust of an online dark market in September 2016. At the time, bitcoin traded at around $570, meaning the 1,666 BTC was worth approximately $950,000. With prices now just under $9,200, it's worth closer to $15 million, according to CoinDesk's Bitcoin Price Index.

At bitcoin's all-time peak near $20,000 in December 2017, the cache would have been worth almost $33 million.

Tulli isn't the only government authority having to decide what to do with confiscated bitcoin, usually with dollar-values many times greater than when they were first seized. The U.S. government, which has seized hundreds of millions of dollars worth of bitcoin over the years, has hosted multiple online auctions for confiscated bitcoin.

Bitcoin confiscated by the Belgian authorities was sold by an online auction house in early 2019. Later that year, U.K. police used the same auctioneer to sell more than $290,000 worth of cryptocurrency it had seized from a teenage hacker.

In 2018, the Finnish government barred customs officials from trying to sell seized bitcoin on exchanges or trading platforms, instead ordering the agency to hold any confiscated digital assets in a secure cold storage solution.

Pylkkanen's claim that most crypto holders use them for illicit purposes isn't supported by the numbers. A November report from blockchain analytics firm Elliptic suggested $829 million in bitcoin, just 0.5 percent of all transactions, were linked to the dark web.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Finnish Authorities Have $15M in Seized Bitcoin But Don't Want to Sell It - CoinDesk - Coindesk

Why Is This Peter Thiel-Backed Startup Mining Bitcoin In West Texas? – Forbes

Cattle graze at the Buffalo Gap Wind Power project near Abilene, Texas.

To make money mining cryptocurrencies you need fast microprocessors and cheap electricity to run them. It also helps to be in a cold climate, because a roomful of computers puts out a lot of heat, which slows them down. Thats why the worlds biggest miners tend to set up shop in places like Iceland, with its plentiful geothermal power, or Washington state and upstate New York, which enjoy cheap hydropower.

Thats why it seemed odd that a crypto-mining startup called Layer1 Technologies chose as its center of operations an empty part of west Texas, which suffers through 90-degree-plus days for nearly half the year. Even in February it can get hot. I was shvitzing, says Alex Liegl, CEO of Layer1, who was out there recently 100 miles west of Midland setting up the companys first two bitcoin factories 20-by-8 shipping containers chock full of bitcoin miners. If they were air-cooled, the processors would burn up, he says. But theyre not. Instead, the mining machines are immersed in vats of liquid a non-conductive solution that keeps them cool.

Why go to the trouble? Because the real draw of west Texas is its cheap power. Were not talking about the Texas mainstays of oil and gas, but rather wind. Texas is by far the biggest wind power generator in the United States, with 29,000 megawatts installed and 7,600 mw under construction. If the Lone Star state were its own country it would rank fifth in wind power worldwide. When the gusts come at night the power generated is often so plentiful that grid operators have to pay customers to use it.

This gets crypto miners excited. Its the cheapest power in the world, at scale, says Liegl, 27, who co-founded Layer1 in 2017 years ago alongside Jakov Dolic, who previously cofounded whats said to be the worlds biggest bitcoin cloud mining service provider, called Genesis Mining.

Last year Layer1 received a $50 million cash infusion from its v.c. investors led by billionaire Peter Thiel, alongside Shasta Ventures and Digital Currency Group. That raise valued Layer1 at $200 million, and gave Liegl the capital he needed to acquire an entire electric substation capable of handling 100 megawatts, and 30 acres of land on which they aim to install a village consisting of dozens of their container-based bitcoin factories, each of which draws 2.5 mw (enough to power more than 1,000 homes).

Liegls strategy is to make Layer1 independent of any third-party suppliers or service providers. That way he can be certain that even when bitcoin prices surge and suppliers hike their prices, Layer1s economics will be insulated. Thats why the company is manufacturing its own processors and outfitting its own containers in factories in China and Croatia. We want to avoid all edge risks and be at the point where no one can take away our advantage.

Another startup: Peter Thiel and Elon Musk at the launch of PayPal, 2000.

Theres a power arbitrage opportunity as well. In the summertime when air conditioners in Dallas, Houston and Austin are going full tilt, Texas electricity prices sometimes surge to nosebleed levels. When that happens, Layer1 will be able to make more money by shutting off its mining machines and allowing the power to flow through its substation to the grid. We can stabilize the grid by selling capacity for curtailment at the push of a button, says Liegl.

Liegl grew up in Germany then studied math and philosophy at Stanford. He was first exposed to bitcoin during a stint working on the special investments desk at the Stanford Management Company (which boasts a $27 billion endowment). He describes Peter Thiel as an invigorating conversationalist, who traces the logic tree then proceeds and who sees bitcoin as a useful hedge against central bank policy missteps. Liegl credits Thiels investment as enabling Layer1 to gain a first mover advantage on their liquid cooled mining machines. Its easier to keep liquid chilled than air, and Liegl claims that Layer1 is able to overclock its processors, essentially running them at twice the rate they would be able to in an air-conditioned space. Whats more, the liquid keeps away the dust, which along with tumbleweeds is in no short supply.

Liegl is convinced that his machines will avoid obsolescence for at least 5 years because chip cycles have lengthened. Chips have little differentiation now; cheaper electricity and more efficient cooling is most important.

Layer1 wont say how many bitcoin it expects to mine in Texas this year. Liegl says theyre profitable enough that hes already thinking about pursuing an IPO in order to scale nonlinearly and potentially fill the vacant position of being the bitcoin mining company. He envisions in time having enough machines to consume 1 gigawatt of power.

And what happens if they run out of cheap wind? My personal dream is to own a nuclear plant in the future.

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Why Is This Peter Thiel-Backed Startup Mining Bitcoin In West Texas? - Forbes

Virgin Galactic CEO: Everyone Should Have 1% of Their Assets in Bitcoin – Cointelegraph

Chamath Palihapitiya, the billionaire chairman of spaceflight company Virgin Galactic, has recommended that everyone hold Bitcoin (BTC) as a form of crisis insurance.

Speaking on CNBCs Squawk Box, Palihapitiya said he believes that everybody should probably have 1% of their assets in Bitcoin.

Palihapitiya said that Bitcoin comprises a fantastic hedge, as every other financial instrument is correlated [...] except Bitcoin, which is fundamentally uncorrelated.

When you see the amount of leverage the financial industry is running, and you think about all these dislocations and all these exogenous things that are happening that you can't predict, there's a lot of risk to the downside, and it will be great that an average individual citizen, of any country in the world, has an uncorrelated hedge.

However the billionaire former Facebook executive rejects the theory that economic woes resulting from the coronavirus outbreak will drive the crypto markets into a bull trend.

I dont think when [...] you wake up and see a coronavirus scare and the Dow down 2,000, you should not be going in and buying Bitcoin - that is an idiotic strategy, he said.

The Bitcoin is a safe haven narrative has certainly taken a battering this week with BTC tumbling up to 13% in 36 hours in tandem with the stock markets due to fears over the impact of the coronavirus. In contrast gold has performed well in its traditional role as a safe haven, gaining 0.5% in recent days to trade for $1,648.82 per ounce.

Palihapitiya suggests that a better approach than trying to profit off short term market trends is for investors to put a small percentage of their net worth into Bitcoin as insurance.

I think a reasonable strategy is to say 1% of my net worth should be in something completely uncorrelated to the world and how the world works. You quietly over some period of time accumulate a position and then just never look at it again and hope that that insurance under the mattress never has to come due. But, if it does, it will protect you.

Palihapitiya is a longtime Bitcoin supporter and his company, Virgin Galactic, began accepting Bitcoin for its $250,000 spaceflights duringNovember 2013, becoming one of most high-profile companies to accept BTC at the time. Palihapitiya told CNBC that it has received 7,957 registrations of interest since conducting the first flight in December 2018, which equates to to $2.39 billion in potential ticket sales.

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Virgin Galactic CEO: Everyone Should Have 1% of Their Assets in Bitcoin - Cointelegraph

How to Protect Bitcoin for Your Heirs With the Push of a ‘Dead Man’s Button’ – CoinDesk – Coindesk

What happens to your bitcoin after you die?

This is more than just a philosophical question: It could involve a substantial amount of currency.

The question of crypto and the Great Beyond is what prompted about 20 or so developers to get together in London recently to experiment with repurposing the current lightning protocol to send private messages as a dead man's button, a system that can't be censored and would keep your crypto safe for your heirs.

Lightning Labs infrastructure engineer Joost Jager has been exploring using lightning for messaging over the past year. At the Advancing Bitcoin conference in London, Jager hosted a workshop to explore building a dead man's button with lightning. The mission was to show that lightning can be used as messaging system as well as a payment network.

These buttons are not new. At the workshop, Jager noted Edward Snowden, the National Security Agency whistleblower, used one in case he died before journalists could reveal the contents of the documents he wanted to make public.

The goal of the workshop was to explore one of lightnings relatively new features, "keysend" (formerly known as spontaneous payments). Its so experimental it isn't even described in the lightning specifications yet. But it does offer a way to send data (called "custom records" in LND, the lightning implementation Jager works on) along with a transaction.

Heres how it might work: Imagine a user who wants to pass on a bitcoin (BTC) inheritance. That user would communicate with a "service," pushing a "button" that would send a message every week or so to signify that the user is still alive.

If the button isn't pressed one week, it is assumed the bitcoin user is dead or incapacitated and it's time for the bitcoin to be passed on, at which point the service automatically dispenses a "secret," which can be used to retrieve the crypto.

Beyond that, Jager thought some additional features should be added, even if they could make the program trickier to implement. The program should maintain the privacy of the sender and the receiver, he said, and should allow the sender to get proof the service still has the secret.

Developers split into small groups to think about how to build a service that would meet all of these and other goals. The workshop developers came up with some ideas, which Jager published to GitHub. He included a rough implementation, which puts several of the ideas into practice, though he said the code "is extremely limited and does not implement everything described."

This design isn't necessarily the best way forward, Jager said, but it's a proof of concept he hopes can inspire other implementations.

Imagination versus loss

Jager told CoinDesk the "primary" reason he chose the dead man's button for the workshop was it is complex enough of a use case that it can show off what lightning can do as a messaging system.

But he also thinks a dead man's button could be a real use case for lightning down the road.

"Many people try to arrange their crypto inheritance and need to make up their minds about who they trust. This could be an alternative, assuming that wrinkles are ironed out and the whole process is hidden underneath a user-friendly shell," he said. This is "unlikely to happen short term, but I hope people see the possibilities."

Lawyer Pamela Morgan, an expert on crypto inheritance and author of a book dedicated to helping people develop a plan to pass on their crypto, agrees with Jager the technology is far from ready. But she said she would not encourage users to put any money into any experimental dead man's button systems just yet.

"Dead man's switches are fun projects that excite our imaginations but fail to solve the complex and multidisciplinary challenges of crypto asset inheritance distribution. Relying on such solutions for something as important as inheritance is likely to cause catastrophic loss," she told CoinDesk.

However, she said the technology has promise. Since few crypto enthusiasts have any sort of a plan for what to do with their currencies after they are gone, she's happy to see people exploring ways to make crypto inheritance a more common practice.

"If adding a dead man's switch makes more people actually do inheritance planning for their bitcoin, then I'm all for it because so few people actually do anything," she told CoinDesk.

In the meantime, Jager is pressing on with beefing up lightning's messaging system to make it easier to send messages across the network.

Correction (Feb. 24, 22:52 UTC): This article has been updated to clarify the intent of the workshop.

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How to Protect Bitcoin for Your Heirs With the Push of a 'Dead Man's Button' - CoinDesk - Coindesk