Tuesday’s big story that the Department of Justice is probing Tether in Bitcoin price manipulation shouldn’t be a shock to one group of people—Modern Consensus readers. “While federal prosecutors opened a broad criminal probe into cryptocurrencies months ago, they’ve recently homed in on suspicions that a tangled web involving Bitcoin, Tether and crypto exchange Bitfinex might have been used to illegally move prices, said three people familiar with the matter,” wrote Bloomberg’s Matt Robinson and Tom Schoenberg. However, we connected the dots months ago when news of a DoJ investigation began surfacing. Modern Consensus began publishing at the start of the year, while crypto prices were stratospheric. Still, back in…
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With Bitcoin’s latest bloodbath, tech entrepreneurs see buying opportunity
‘We’ve already chosen a winner’
Wednesday morning’s dive in Bitcoin was brutal for even the digital asset’s most loyal HODLers. During the 11 o’clock hour (Eastern Time), Bitcoin plunged from $6,063.69 to $5,650.01 over the course of just 30 minutes. It then continued to fall in anticipation of the Bitcoin Cash hard fork scheduled for Thursday. The cryptocurrency hadn’t moved most of the year and crypto pioneers like Crystal Rose Pierce were starting to share excitement for Bitcoin’s stability. On Monday in San Francisco, following the EOS Global Hackathon, she told an audience of developers at their CryptoMondays meetup, “If we wrap up this year and Bitcoin hasn’t changed, or is marginally changing, that means…
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Fake Tethers under fake bitcoins. It's an illustration of what may be happening (Photo via Shutterstock).Tether—not Bitcoin Cash—said to be source of crypto market selloff
A newly-announced fee on Bitfinex as big traders pay up to leave
[This story has been updated to name one source.] Bitcoin and most of the cryptocurrency complex faced an onslaught of sellers on Wednesday. While some news outlets are pinning the drop on the battle for Bitcoin Cash, sources at a couple of institutions tell Modern Consensus the real culprit is Tether. The low volatility in the largest and oldest cryptocurrency was shattered suddenly. Bitcoin fell 12 percent in 24 hours, breaking below the $6,000 and at one point changing hands at under $5,500 for the first time in over a year. As of 3:30 p.m. Eastern Time, Bitcoin’s 24-hour trading volume was close to $6.6 billion, according to data from…
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Craig Wright goes ‘full billionaire mode’ and doesn’t care what you think: The Modern Consensus Interview
The man many believe to be Satoshi Nakamoto opens up to Modern Consensus
On November 15, 2018 the biggest names in crypto will square off over how Bitcoin Cash (BCH) will operate going forward. While it’s not surprising that Dr. Craig Wright would step into the ring: it is surprising that he would Skype with us for the afternoon and let us ask anything we wanted. Since Satoshi Nakamoto released the original Bitcoin white paper in 2008, arguably no one has been more involved than Wright. Many documents show that if Nakamoto does exist, then he worked closely with Wright both before and after the launch. But if Nakamoto does not exist, then he might be a creation of Wright and/or his early…
