Weekly cryptocurrency review #5


According to Steve Wozniak, cryptocurrencies are now like the Internet at an early stage of development

Steve Wozniak, co-founder of Apple with Steve Jobs, recently announced his participation in a cryptology startup. During a recent meeting at Chainxchange, he said in an interview: "I like to keep up with technology news. Bitcoin caught my attention. He had so many amazing aspects that matched any technology I had ever heard of. No one is really a creator. There is no centralized component. It's based on mathematics. There is a certain number of Bitcoins that can ever exist. "

Wozniak is known as Steve Jobs' right hand. They both founded Apple, currently the most valuable company in the history of mankind, in 1976. Jobs dealt with aspects of entrepreneurship, such as financing, Wozniak was the brain of the company responsible for building hit computer technologies and introducing an industry that literally changed everything.

"Mathematics is like nature for me," Wozniak continued his admiration for Bitcoin. "It's much better than human beings. I trust these aspects of nature more than what man invents. Man invents currency, controls it, prints new American dollars every year; Bitcoin is immune to it. "

It is interesting that the current group of technologists, investors and visionaries in the cryptocurrency space has a problem with supporting Wozniak's point of view. Perhaps it would be less strange if he was not enthusiastic about the perspectives of cryptocurrencies in this area and thus did not disappoint the other participants in congresses in the crypto industry.

"It's so independent! It's kind of like the internet when it's new." I was amazed at the technology behind it. People are setting up companies that do other things in life. I've come across people working in the real estate industry, with people from Uber, everything, what we have in particular related to transactions: retail sales, car sales, production of goods and everyone is working on Bitcoin implementations and they all have value. Only a few people see the current situation that reminds me of early internet days."

May you not be wrong Steve!

Seven English Premier League clubs will try out a cryptocurrency payment system

Buying players for Bitcoin may soon complement the traditional method of payment, because this week seven English Premier League clubs began to participate in cryptocurrency tests.

Initiated by the popular eToro online trading platform, the process involves creating digital wallets for the following English Premier League clubs: Tottenham Hotspur, Leicester City, Southampton, Cardiff City, Brighton, Newcastle United and Crystal Palace. The ambitious goal of this venture will be to replace the sterling as a transfer currency for players in the Premier League. Under the sponsorship agreement, the clubs were paid by eToro to encourage them to participate in the tests.

In an interview with one of the English newspapers, Iqbal Gandham, managing director of eToro UK, revealed that the payment was made in Bitcoin, not in pounds:

"We made a sponsorship deal, but instead of paying them in traditional pound money, we paid them in Bitcoin." He added that the clubs can do what they want with the bitcoins they have received.

Comments from representatives of other clubs like Tottenham Hotspur and Brighton FC indicate that the clubs were satisfied with the partnership. Paul Barber, CEO of Brighton FC, said the process was a good opportunity for his club to understand "the real potential offered by blockchain." Similarly, Fran Jones, head of the Tottenham Hotspur partnership, mentioned that his club was interested in being more involved in technological innovation.

This is not the first time that the Premier League clubs have partnered with cryptocurrency companies. Arsenal FC, for example, became an official partner of Cashbet, a company offering cryptocurrencies in the USA, in January 2018 - in one of several partnerships between cryptographic companies and sports organizations. These changes increase the credibility of the claim that cryptocurrency technology will adopt, develop and be implemented in various areas of current economic activity.

And what's up on cryptocurrency exchanges?

Cryptocurrency prices are consolidating after several sharp increases and decreases over the past week. In the current situation, many traders are not sure what will happen next, but a lot of them show pessimism, putting on declines in the BTC price and taking short positions. At the moment, short positions on BTC / USD on stock exchanges are slowly approaching the highest level since April 2018, when on the Bitfinex market the number of short positions reached over 40,000, and now the market shorts are climbing terribly close to the highest level. On Bitfinex there are 39 039 short positions, which means that one of two things will happen: either the price will fall as predicted by bears, or the bulls will accumulate all short positions and the price will rally sharply due to the so-called: short-sqeeze . On the other hand, the number of long positions on Bitfinex is currently smaller than short, but not too low: 25.985. Investors playing long positions expect that the price of BTC / USD will repeat the scheme, which took place even in February and April, when the price increased very quickly from the current price levels.

The past and present situation is illustrated by the following graph: