Mainstream Publications Make Assumptions on Bitcoin's Price Increase

Why are Bitcoin and other cryptocurrencies pumping? We here at CoinSnacks don't claim to know and are skeptical of anyone who says they know EXACTLY why.

Enter mainstream media and their definitive reasons. Up this week we've got:
  • CNBC talking heads attributing the rise to the FED "going nuts"
  • The Guardian claiming the rise is being fueled by investors seeking a safe haven amid fears over the economic impact of the coronavirus
  • Tom "the expert" Lee claiming the bump is due to a multitude of factors such as the upcoming halving, elections, technicals, coronavirus, etc.
Maybe...? 🤷

Thread of the Week: Here's Why BTC Will Pump

Brendan Bernstein is back with one helluva thesis...

Most will speculate on why BTC will pump based on trendy narratives (see above)... Brendan, on the other hand, thinks we'll see prices surge due to a completely overlooked deflationary crisis.

Hard to knock this argument.


Tax-Free Investing in Crypto

Wish you could invest in crypto tax-free? If you have an IRA or 401(k), here's your chance.

If you're like most people, your IRA or 401(k) is a place where money is blindly stashed away. The tax benefits are undeniable, so year after year, you invest in the usual mix of stocks and mutual funds. But what if you could invest that money in crypto?


You see, we've discovered a little-known IRS Tax Law that actually lets you convert your IRA or 401(k) into crypto. Get all the upside of crypto, get all the tax benefits of an IRA – with ZERO tax consequences.

In the next few weeks, we're giving away a free info guide that reveals exactly how to make this move and how to get started.

Click here to get your FREE GUIDE on tax-free crypto investing.



State of Adoption Report

Over the past six months, dozens of crypto analysts, VCs, data companies and startups have been putting together a monster report on the State of Adoption in crypto attempting to answer two major questions:

☀️ What were the biggest highlights of 2019?
🚀 What are the most exciting developments on the horizon for 2020?

The Case for Electronic Cash: Why Private Peer-to-Peer Payments are Essential to an Open Society

Last week, Coincenter dropped a great report highlighting why we must protect our ability to transact privately online. In the paper they show that:
  • A cashless economy is a surveillance economy
  • Removing the option to freely transact without intermediation places our economic lives in the hands of financial institutions and governments
  • Electronic cash is a tool that should not only be tolerated, but fostered and celebrated.

"Cash is more than a method of payment. It is a fundamental tool for individual privacy and autonomy, and it is necessary for an open society."

Fintech Infrastructure 101 - Overview & Market Landscape

Chris McCann just published an informative deep dive covering the fintech infrastructure market.

It's essentially a primer on what fintech infrastructure is, why it's changing, a landscape of all the companies in the space, and potential cross-overs with the crypto space.


[Hot Tech Alert] 32X bigger than 5G?

5G and “AI” are all the rage, but here’s what you likely don’t know: The world’s best investors are lining up behind an explosive new technology that could trump them all. 

Apple’s co-founder, Steve Wozniak, who said 5G “is not going to impact me much” …is calling this “the future.” In fact, according to research from the World Economic Forum, this new technology is on pace to be 32 times bigger than 5G!

One man has been tracking this for two years now, and he's put all his findings together in a new presentation. Click here to watch it now.



FED Confirms Crypto's Threat to U.S. Dollar

Federal Reserve chairman Jerome Powell spoke before the House of Representatives Committee on Financial Services earlier today...

And things got pretty interesting for us crypto enthusiasts once Congressman Bill Foster raised concerns about the need to keep pace with China’s digital currency ambitions...

The highlights:
  • Powell stressed that the Fed is investing a significant amount into digital currency developments
  • Adding fuel to the fire, Powell also acknowledged how quickly crypto could become a systemic risk to the US dollar
  • The Fed was clear that the US was doing its best to keep pace with China's digital currency ambitions
  • He specifically said "A ledger where you know everybody's payments is not something that would be particularly attractive in the context of the US."

Trump’s 2021 Budget Proposal Seeks to Police Crypto

The U.S. Department of the Treasury could have more supervision powers over the crypto space if President Donald Trump’s budget proposal for the fiscal year 2021 goes through.

According to the proposal: "Technological advancements in recent decades, such as cryptocurrencies...have resulted in more complex criminal organizations and revealed stronger links between financial and electronic crimes and the financing of terrorists and rogue state actors.

The proposal, however, is a long way from becoming law, but it does reveal the Trump administration’s policy priorities.


Crypto Mom To The Rescue?

Last week, SEC Commissioner Hester Peirce unveiled her proposal to create a safe harbor for crypto startups, allowing them 3 years to build out their networks before having to address federal securities laws...

Here's Ryan Selkis on all the details... and why it could potentially be super bullish.

TL;DR: Traditional regulations are stunting the industry's maturity. This proposal is a realistic effort to bolster consumer protection as projects seek for funding and growth.


Ohio Resident Charged With Laundering $311M in Bitcoin

Larry Dean Harmon has been charged with laundering more than $300 million in bitcoin.

Prosecutors said Harmon played a major role in scrambling illicit cryptocurrency transactions for AlphaBay. He is alleged to have run a mixing service called “Helix” that worked in conjunction with AlphaBay – one of the leading so-called “darknet marketplaces” accessible only via Tor browser. AlphaBay went offline in 2017.

In total, Helix is said to have scrambled at least 354,468 bitcoin. The total value at the times of transaction is estimated to be over $311 million. That sum is worth $3.7 billion at today's prices.



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