BCH and BTC Lawsuit, Moneygram

Achoo Changemakers,

That was a jellyfish sneezing. Gross? It sounds a bit disgusting, but some jellyfish snot is a sticky situation for swimmers according to
science.

Stinging cells within the mucus live on cassiomes and zip around rapidly to paralyse prey (not you thankfully). One thing is for sure. It's snot fun for the victims! However, you have nothing to fear unless you're swimming near a mangrove forest in a tropical coast.


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🧟‍♂️ A Bit Too Much

You see, you are trespassing on my property…

It’s not a Clint Eastwood quote, though it does sound like something straight out of Gran Torino. No, this is infamous Craig Wright - recent settlement payer and constant self-proclaimer as the “Creator of Bitcoin.”

For Craig, it was just a snippet of a very lengthy blog post.

What’s he up to? It’s a real forking mess. BCH and BTC are under fire from the Wright man as copyright infringements from the database he, allegedly, and a contracted team created in 2009. In layman's terms, the issue he holds comes from how the two currencies (and possibly others) are "passing themselves off as Bitcoin." Mr. Wright goes on to mention that he's moving his company to the UK to come under database rights.

If Craig is the Satoshi Nakamoto that he claims to be, there is a large block of this community that may be shocked to hear him say:

2020 is looking to be a fine year. For some of us… Yet, not the anarchist community.

🤝 Ripple’s MoneyGram Relationship

It feels like forever ago, Changemakers, but we previously reported on Ripple’s paid partnership with MoneyGram that brought 10% of the giant’s cross-border payments with Mexico to the On Demand Liquidity Platform offered by Ripple and it’s currency XRP. Later on, the eighth-largest US bank PNC latched onto the blockchain rollercoaster and joined Ripple as well.

In a recent interview with Cointelegrah, Kamila Chytil, Chief Operating Officer of MoneyGram, surprisingly confirmed that they're not utilising they're partner Ripple for real-time remittance payments.

MoneyGram is utilising Ripple’s On Demand Liquidity product...at a corporate level...It’s a back-end treasury function that’s not consumer facing.

The company doesn’t feel that blockchain is needed for real-time payments as they perform this function with debit card deposits through their tech known as Direct Original Credit Transactions.

MoneyGram’s COO went on to add that the company is looking for other use cases where XRP and Ripple’s technology can come into play. The security and traceability of the ledger technology is always on the forefront it seems.

🔮 Bitcoin Price Analysis

Let's talk about Ethereum and Bitcoin!

Buyers made a push and took Bitcoin to the $10,500 area. Since then, we have had a 9% correction and the lowest point this week was around $9450. $10,000 has been reclaimed and we will have to see if it holds longer than a few days this time.

If we look at the whole rally that started at the beginning of the year, it has been moving like a staircase with a strong push upward followed by a corrective move to the previous support. Rinse and repeat a few times and we reach the point we are at now. The current short term correction has run its course and seems to be losing steam.

The 200-day exponential moving average has flattened out and will slowly start moving up. It will be providing strong support for the buyers, should there be a stronger correction down the pipeline.

We have already corrected down to the previous support area. We are likely to range between the $9500 support and $10,350 resistance until the buyers are able to push the price through the purple line towards the next resistance areas.

While Bitcoin has been in an interesting breakout point, it has not managed to break out as of yet, but Ethereum has been making big moves!

The value of Ethereum is measured in how much it is worth against Bitcoin. At the start of this year, it was worth around ₿0.019. Ethereum is up 45% in February alone and has seen a 64% gain against Bitcoin from the beginning of the year.

Factor in that Bitcoin is up 48% from the beginning of the year, Ethereum is up a total of 112% against the Dollar. We can clearly see that Ethereum has currently outperformed Bitcoin. Whether this continues or not will be decided by the market.

The resistance zones (some of them now support zones) for Ethereum’s price against Bitcoin have been the following:

₿0.02
₿0.0217
₿0.023
₿0.025
₿0.028

As Ethereum has reached the ₿0.028 zone and cleared all of the previous resistance zones with relative ease, it will likely consolidate between ₿0.025 to ₿0.028 before pushing higher. The next resistance areas for Ethereum lie at ₿0.03, ₿0.032 and ₿0.035.

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