11/07/2022. Weekly CryptoNews Digest and News from the HYIP Industry

Hey guys! Another Monday and that means MNO is back with the latest news from the HYIP industry and the regular weekly cryptonews overview. With the current lack of new programs it’s important for you to follow MNO on Telegram, Facebook, or Twitter, to be among the first to know about any upcoming leaders of the industry. Although frankly speaking I don’t expect much activity on this front at least until September, if not later. Still, if you wish to receive my blog posts in their entirety without checking the website please enter and confirm your email address on this page to join the many hundreds of subscribers I have accumulated over more than fifteen years online. Yes, you heard it right! MNO has surpassed 15 years online and is now into its sixteenth year of operation. Now tell me what other website can boast such an achievement! Anyway, if despite the slow summer season you have questions or suggestions I would be happy to answer your emails which can be forwarded to abramsonp@gmail.com, submitted via this online form or asked of me live on Telegram @mnoblog

I must admit that I have been badly suffering from the latest prolonged heatwave here in London where the mercury hit over +30 degrees for the last few days with no reprieve expected anytime soon. If anything the situation is only going to worsen over the coming days with close to +40 temps forecast later in the week. It’s not only the UK but the mainland European continent seems to be badly suffering from the same fate as a direct result of climate change getting worse with every passing year. To add insult to injury the upcoming economic recession has now been widely anticipated in just a few months time due to wider post-pandemic woes, steep food and energy price hikes across the world and ongoing war in Ukraine (thanks to a short dictator trying to appeal to his long ego!) we are having what we have. The cryptocurrencies have also been suffering greatly as the value of the them having greatly decreased lately as a result of the understandable response of investors pulling out from the risky assets in droves.

Due to huge uncertainties on the market the cryptocurrencies have been less in public focus last week, but there were still a few things you might find interesting. I will try to cover some of them in the Weekly CryptoNews Digest MNO has been posting every Monday from the start of 2022. This time I will discuss the news from last calendar week, July, 4-10, 2022.

As with any market crash there comes a point where sooner or later prices have to hit rock bottom. With BitCoin and other cryptocurrencies prices have been in free fall for some time now, so have we finally turned the corner towards recovery? Bitcoin felt some relief this week as some investors hope that the worst of the so called crypto winter, or liquidity crisis might be behind us. Markets saw a slight but sustained and most welcome recovery in a much-needed short-term rally coming after a major capitulation tumbled prices and strained liquidity on the market. Bitcoin rose over 10%, marking its best week since October. It might be a bit presumptuous to say so for sure, but we are just coming off the back of the best week for BTC in a full nine months. The price of Bitcoin got a small bounce as investors hoped that the worst of the crisis is over. By Friday, Bitcoin had risen 13.63% for the seven-day trading week beginning Sunday, and was on pace for its best week since October, according to Coin Metrics. The price rose as high as $22,478.37 at one point, climbing back from a low of about $17,000 in June.

It might also be a bit early to jump to any conclusions here too, but tentatively there may also be some good news on the horizon for account holders in the failed cryptocurrency exchange Mt. Gox. They’ve just provided an update on its repayment procedures under its creditor rehabilitation plan. According to the statement, the process could start as soon as next month, and the document details various choices the creditors can make when receiving their payments, including compensation directly in Bitcoin. The exchange states that the “Rehabilitation Trustee” – Nobuaki Kobayashi – is preparing to make his repayments in line with the exchange’s approved rehabilitation plan. Kobayashi published an accompanying report related to both repayment procedures and his performance concerning his duties as a trustee. The document details various choices the creditors can make when receiving their payments. They may receive early lump-sum payment and may receive a portion of their claims in the form of either Bitcoin or Bitcoin Cash. Furthermore, Kobayashi has set a Restriction Reference Period from the end of August until “all or part of the repayments made as initial repayments are completed.” This means that a swell of Bitcoin could start to hit the market as Mt. Gox starts repaying its creditors next month. The trustee will not accept more applications for claims transfers at this time until the initial round of repayments is completed. Mt. Gox issued an email on the matter earlier today, spurring some anticipation from the crypto community. Some believe the repayment could contribute to more downward pressure on Bitcoin amid an already bloody bear market. However, when the rehabilitation deal was finalized in November, crypto proponents doubted that the repayments would severely impact Bitcoin’s price. CryptoQuant CEO Ki Young Ju shared a tool on Thursday allowing people to set an alert for when any Bitcoin begins to leave Mt. Gox’s public BlockChain wallet. In March, the exchange’s former CEO issued an NFT series that was free for customers. The tokens are supposed to provide holders access to UNGOX services, a project providing ratings and analysis of exchanges and their security levels. I personally had no dealings with them as a service provider so am not really in a position to offer comment, though it can’t really be a negative thing if those affected start to recoup at least some of their losses.

It’s long been an amusing brain teaser to ask what happens when the unstoppable force hits an immovable object, but that’s just what seems to be playing out right now as the US Federal Reserve (what other countries might call their central bank) calls for more and more regulations on cryptocurrencies. Well, I’m not so sure it’s even possible to regulate a currency by itself, more likely this relates to how physical financial institutions make use of cryptocurrencies which is of course an entirely separate matter. The vice chairperson of the Fed while addressing the Bank of England in London stated that cryptocurrencies need regulation now before it becomes so big that it threatens the financial system. In a speech that demonstrates that the central bank is watching the crypto crisis very closely, she said the lack of regulatory guidelines has been a confusing and troublesome issue for the whole crypto industry. That much I think we can probably all agree on. Despite this year’s crash — the price of Bitcoin is currently about 70% below its November all-time high of $69,000 — U.S. regulators continue to call attention to the industry’s potential, growth and reach, as well as the potential consequences of not having a clear framework for it.

Out of the developing world countries that have experimented with adopting BitCoin as legal tender, it was already reported on MNO last week that El Salvador has has already gotten into some difficulty by over extending their finances buying BTCwhen all that’s happened is the value of their asset (if one can call it that) continues to drop. OK, they’ve had some respite there last week, but the general trend has still been downward since last year’s unprecedented high. Now it seems that the Central African Republic is the latest country to give a masterclass in economic mismanagement. After becoming the second state to make Bitcoin legal tender in April, the CAR government has released a new cryptocurrency called the Sango Coin which aims to tokenize the country’s resources, such as gold and diamonds, for worldwide investors. In a gesture that practically throws in the towel for ever managing the country’s undoubtedly vast resources, the President made the claim that “the formal economy is no longer an option.” It’s almost like an open invitation for communist China to establish yet another 21st century colony on the continent barely five decades since the last uninvited colonists were ousted. Cryptocurrencies are the solution to tackling financial exclusion in the Central African Republic, the President went on to claim on Sunday, citing the cost of opening bank accounts in what was to be fair a refreshingly candid admission of his own government’s lack of power or authority.

One interesting story to catch my eye this week was about the readiness of big businesses to accept crypto payments, and by the way when I say big business I’m referring to those with an annual income of $1 billion or more. In a report titled “Paying With Cryptocurrency“, the researchers found that among businesses with an annual income of $1 billion, 85% are adopting crypto payments to find and gain new customers. On the other hand, 82% of all the merchants who participated in the survey cited crypto’s elimination of middlemen as their reason for accepting it as a payment method. Apart from these, the results also showed that 77% of the surveyed merchants are also drawn to accepting crypto because of lower transaction fees. According to the report, the fees for processing crypto transactions are around 1%. This is much lower than the usual fees from 1.5% to 3.5% charged by other payment options like credit cards.

Finally for today it wouldn’t be a complete week in the cryptocurrency world without at least one mention of Elon Musk. One of his business ventures, oddly enough called The Boring Company, takes the headlines this time. No, it has nothing to do with putting you to sleep with long and dull speeches, rather the boring being referenced here concerns the digging of tunnels for all manner of infrastructure and scientific requirements. Currently their biggest single project is being worked on in Las Vegas, or should I say under Las Vegas, in the US state of Nevada. Customers will be able to pay with the crypto when they take a ride using Tesla vehicles on the company’s Las Vegas transit system called Loop. The Loop ride travels at 35 miles per hour (mph), as against the original 150mph. Passengers will pay $1.50 for single rides, while customers can purchase day passes for $2.50. Also, riders not willing to pay with DOGE can make payments in U.S. dollars or credit cards. Meanwhile, rides are currently free for passengers using Loop, with charges coming at a later date. Furthermore, with the first Loop station already opened outside the Las Vegas Convention Center, there are plans to construct over 50 additional stations on the Vegas Strip.

I hope that you find the Weekly CryptoNews Digest worth your attention. Check it out next Monday for more news from this week and now we will get back to the HYIP industry news, so keep reading below for more on that.

NEWS FROM THE HYIP INDUSTRY

ROBOTICSONLINE – TRUSPILOT REVIEWS, TECHNICAL ACHIEVEMENTS, AND OTHER LATEST NEWS FROM MARKET LEADER

Apart of the current wave of fast scams the HYIP industry has been inundated with lately RoboticsOnline (reviewed here) appears to be a very pleasant and rare exception. Unlike so many other admins out for a fast buck the person running RoboticsOnline is clearly very passionate about managing his successful program for about three years already but also constantly tries to improve users’ experience and add new features. Among the latest improvements we see the option to invest in RoboticsOnline via Tether USD (ERC-20 token) which has been recently added to the list of other non-stablecoins including BitCoin, LiteCoin, and Ethereum which have all been losing value over the last few weeks. As cryptocurrency values have been steadily declining the value of Tether USD tied to the American currency has remained stable and thus attracted funds from many cautious investors preferring to keep their hard-earned cash in fiat currencies, fuelled by the unstable markets across the world and the upcoming recession widely predicted and anticipated at some point in 2023. The decision to add Tether USD currency will bring more certainty to those investors who prefer not to convert their cryptofunds into USD and back to crypto on every deposit and withdrawal from RoboticsOnline. Considering the low profit paid by the program (less than 5% after a 12-business day term) it would be a big contribution to the further growth of confidence to RoboticsOnline from savvy investors.

Other than the latest regular news from the field of cryptocurrencies and robotics industry in which the company has been allegedly involved since its very inception, the admin of RoboticsOnline has recently expressed his sincere gratitude towards the team of specialists who work hard behind the scenes of the website and constantly improve its functionality so that current and potential members can enjoy their investment experience to the highest level possible. That was actually the first time in my memory that the admin of any investment platform expressed any words of gratitude to his technical team. More than just that, he listed the aims that have been achieved and featuresthat were implemented, plus the future goals and tasks the talented team of RoboticsOnline has been diligently working on over recent times. Besides, among the latest news from the program the admin also asked members to share their positive experience with the program on TrustPilot and thus help RoboticsOnline become a more popular and well-known program in the HYIP industry and beyond. All the latest news and updates posted on RoboticsOnline‘s social media over the last seven days can be read below while if you wish to check out the program itself and join the growing downline of MNO click here:

“Help us to become better! – RoboticsOnline LLC
Help us to become better!
We are constantly striving to improve and we’d love to hear from you about your thoughts and experiences you made so far with our RoboticsOnline platform.
Please, give two minutes of your valuable time and review us on Trustpilot.com.
We’d be forever grateful—thank you in advance!
Happy investing!
Your RoboticsOnline Team”

“You want to know what we are doing all day long? Have a look at one of our daily logs the development team has finished. Right now we have at least 4 developers actively working full-time on our platform. (Yes, our about us page needs to be updated!)
– Started sending emails to the users for Trustpilot. Since we had a timeout between emails, we only sent about 55% at the time of writing this report.
– I discussed the design for the tax report (PDF) with our designer.
– Found bugs in the user panel feature and reported them in the Google Doc.
– Made a cross browser testing using such environments as: Android , IOS and browsers: Google Chrome and Opera
– Checked, that issues from tickets: 1, 2, 3, 4, 5 were fixed. [Hyperlinks removed]
– Updated all local repositories and executed missed database migrations.
– Changed the text mentioned in those tickets: 1, 2, 3. [Hyperlinks removed]
– Fixed calculation issue with “Bonus for large investment”
– Changed the proposed function in our admin panel.
– Added logic to automatically login users after registration and redirect to dashboard.
– Checked the transactions from the support tickets.
– Fixed tool for invest plan testing.
– Helped to set up the project.
– Added a display for the proposed function in the admin panel.
Most people don’t know how much work is happening behind the curtains, but we do. We want to thank our team for providing such great work!”

“EU drafts comprehensive rules for the crypto market and anti-money-laundering measures.
The rules will include special protocols for regulating crypto assets like Stablecoins, NFT, Bitcoin, and more. Standards have been set for insurance of assets, eligibility of crypto firms, energy consumption disclosure, and MiFID rules.
Parliament & state verdict on the bill to be finalized by next year.”

“Fish Robots to get rid of Microplastics
Chinese Researchers create light-activated fish robots that get rid of microplastics as they ‘swim’ around.
The material could also heal itself after being cut, still maintaining its ability to adsorb microplastics. Their durability and speed allow for monitoring microplastics and other pollutants in harsh aquatic environments. The robot is faster than its fellow counterparts.”

“Coinbase are Planning to Expand into the EU.
Amidst the bearish state of crypto market, giants like Coinbase are planning to expand into the EU. Seek regulatory license in a number of European Countries.
According to the vice president of international and business development at Coinbase, Nana Murugesan, the company was setting up new operations targeting France, Italy, Netherlands, Spain, and Switzerland. Hiring in Switzerland has already begun.
Their global competition with Binance and FTX intensifies, they strategize to reap gains post the bearish period in the market ends.”

“Verse Estate to launch a New York penthouse in the digital world!!!
The new Metaverse project offers luxurious digital properties with high-end amenities accessible to everyone.
These digital properties can be accessed with a VR-enabled device, or simply through a desktop if you don’t own a VR device. The owner will also be able to design and customize the properties they own. Changing the color and texture of the furniture is one example of the same.”

“UN Extends Speed Limit
UN extends the speed limit for autonomous vehicles up to 130 km/h from the previous limit, i.e. 60 km/h. Applicable to passenger cars and light-duty vehicles from January 2023.
The amendment also enables automated lane changing. GRVA and UNECE drafted the new rule.
Autonomous vehicles industry is marking big milestones in its development of self-driving cars across the globe. Expect more remarkable changes in the future.”

That’s about all the news I have to report for today. If I survive this heatwave I will be back next Monday with the latest news up from the cryptocurrency and HYIP worlds alike. Stay tuned and hope to see you again soon on MNO – For Money Lovers!